In a recent interview on Everyday Struggle, Soulja Boy was asked why he owns so many businesses. He quickly clapped back, “…Because I’m a bonafide hustler.” We’ve heard this term growing up, but what does it mean? Basically, a person that knows how to get money.
Name a billionaire that only owns one business…. you probably can’t. People who make a lot of money tend to have MULTIPLE SOURCES OF INCOME, which is why YOU should have multiple sources of income. Why? Nothing is guaranteed so it’s always smart to have some type income that you can rely on, in case things get tough. Plus, it’s nice to have some extra cash on the side.
You’re young and might not know how to create multiple sources of income but, there is always more money to be made. Let’s talk about a few ways you can make more income.
This is the most obvious way to generate another source of income. Your first job may not allow you to work all the hours you need, so you may need another one. A second job doesn’t always mean working in an office or coming into work for a few hours. There are online positions that you may be able to fill if you look in the right place. A major way to make money from working at home is through freelance writing. Many blogs and websites look for people to create content for them and pay them for their services. Some sites to look into include:
There are also some online receptionist positions where you can literally work from your dorm room or apartment while you’re doing homework or have some free time. Think smarter not harder.
2. Invest in Yourself
It’s always important to invest into yourself. Sometimes that means investing into your education or experience, but sometimes that means investing into your own business. The top entrepreneurs are born in college. Find what you’re good at and make it a skill.
Invest in yourself and make some extra money!
- Make a YouTube channel about something you love and start recording.
- Know how to do hair? Set up shop in your room and get to work.
- Have a nice camera and like taking pictures? Start a photography business and shoot on the weekends.
- Are you good at doing makeup? Start working on your MUA skills.
3. Invest in someone else's business
Sometimes you might not have a million-dollar idea but you may be good at finding them.
Think about investing into the stock market. You don’t always need a broker and thousands of dollars to invest. Get an account with Robinhood and get to work. You may also want to look into crowdfunding if you’re looking for a second income that you may be guaranteed in the future.
Renting out property you own is an easy way to make some more money. If you have an apartment and know you won’t be living there for a few months, (summer vacation, study abroad, etc.) go on Facebook and let people know you want to sub lease. If you both make a deal they’ll be paying the rent on it and you can possible make some extra money while you’re gone.
There is always MORE money to be made. You just need to think of how you can make it. Everyone has a skill or something they’re good at, figure out how to make money from it!
Know money, No problems.