Lucrative opportunities to make money on the side

When the Global Financial Crisis (GFC) of 2007-2008 broke, everyone began talking about the uncertainty of the economy and the massive job losses worldwide. While the dust from the GFC has settled somewhat, it is almost a decade on and many of the world’s economies are not what they once were. A lot of employees are taking courses out of hours, seeking a greater measure of income security via the education they gain from training organisations like Learn To Trade . It’s easier than ever before to earn a little extra income on the side and below are a few suggestions.

Your Own Online Store

With sites like eBay and their many imitators out there, it’s not difficult to set up a little online side business for yourself. If you have a hobby such as sewing or woodwork, or even an eye for second hand gear that can be easily repaired and restored, you have the makings of a business. It might not pay off your mortgage, but at least it will keep the wolf from the door if you do lose your job. You could even make a little pile by selling on your own second hand goods as the kids grow up; perhaps put any money from the proceeds towards their education, or start an investment account for yourself – the you’ll really see some results.

Investing

Channelling some of your funds into investments is another way to generate income, or at least create a nest egg for the future. Many investments like shares or real estate holdings do not create income immediately, but over the long term they provide security. You can always sell them if you need to add to your income in a hurry.

Trading From Home

Another way to invest is via shares or foreign exchange. This type of income stream does not require much in the way of equipment or stock, and you can do it from almost anywhere these days. What you do need to spend a little time on however, is getting the knowledge to make your trades. Most people have a basic knowledge of how the markets work, so you can build on this and learn to trade online from your home. If you do find yourself out of work, you’ll be very glad you trained yourself to keep generating income for yourself and your family. Who knows? With more time to spend on it, you may not need to return to fulltime employment again. You can find out more about online courses in wealth creating training and trading be visiting the Knowledge to Action Facebook Page page.

The phrase ‘uncertain economy’ is still an accurate description of the post-crisis state of the world’s former financial giants. The truth is that there is no such thing as a job for life anymore. That being the case, it’s wise to ensure you have more than one income stream. While a salaried job forms the largest income stream for most workers, many people have devoted time and effort towards making money on the side. The more income streams you have, the more secure your future.

Do you have another income stream besides your day job? Let others know in the comments box below.