Today's economic crisis has created challenging times for many employees. While most of them are fretting over job security, there are many who are looking at different ways to earn those extra bucks
What can you do with supplemental income? Plenty! Just take your pick: put the extra money into your savings account, buy stuff you've always wanted to have, invest the extra cash, maybe pay off a few pending bills. These and more are reasons enough why employees these days are seeking ways to earn extra money besides earning from their regular, full time jobs. Extra Innings… Working part-time is often the way to go if you want to earn extra without disrupting your regular job. Assess your skills, hobbies, interests and training. Usually, you’ll find that the source of supplemental income for you is usually something that is related to your current job. Vira Mundroina, for example, who is working as an assistant manager with a financial organisation is also an Avon representative for the last 20 years. “As an assistant manager, I have a lot of responsibilities and need to put in at least 7-8 hours of work. But I try to devote some time everyday to my networking business (Avon) as it requires me to attend meetings,” says Mundroina. Just a little more…. “Supplemental income is very important in today's economic crisis. The standard of living has gone up to quite an extent. It's not just food, clothing and shelter, but a lot of other needs that need to be fulfilled,” adds Mundroina. Although there's too much of hard work involved, Mundroina doesn’t mind putting in extra hours as it gets her the extra income along with recognition. Alka Aswani, who owns a chic boutique in a posh suburban area strongly feels the need for a supplemental income. “A second job always come handy as it fetches the much needed extra bucks,” confirms Aswani. Besides owning a boutique, Aswani is also an agent advisor with a leading life insurance company. And not only that! She also works as a subagent with a travel agency wherein she issues tickets to her clients. “Since insurance is the only guaranteed factor, it gets me good business which in turn gets me the extra income,” adds Aswani. “I operate as a sub-agent from my boutique itself as I have enough space. I get access to international fares at a lesser rate and this helps me get a few extra bucks,” she further adds. For Alrio Franko, who is currently working for a leading BPO as a product trainer, putting his creative talent to use is the best way to earn supplemental income. Franko, who is a trained guitarist, gives guitar tuitions as and when he finds time from work. “A call centre job usually pays well, so there is no need for a second job. A second job can be taken up as a passion and not really as an extra source of income,” feels Franko. We suggest ways to earn supplemental income: 1)Earn money from your hobbies – Turn your garden into a produce shop, put your baking skills to good use, or sell handmade crafts. 2)Put your musical talents to good use – Can you play an instrument? Hire yourself to play at small parties, or offer music lessons. 3)Put up things on sale - Have a garage sale or put unused and unwanted items up for sale. 4)Become a tutor – Fluent in more than one language or a whiz at math? Post flyers around your neighbourhood or place an ad in the local paper and put your expertise to good use. 5)Rent a room – If you have a spare room in your house or an apartment, consider giving it on rent. 6)Embrace your inner chef – Have a neighbourhood bake sale with your famous cookies, pastries and pies or find a local restaurant looking for fresh, homemade pastries.