Ways to Supplement Your Income During COVID-19

As we approach the second half of the year, it seems clear that the state of the economy is more uncertain than ever. Confirmed COVID-19 cases continue to surge, and many businesses that recently received the green light to reopen are now forced to adapt or shut back down. As a result, workers across the country are being laid off or let go, only to be rehired then furloughed once again. Jobs are unreliable with public safety regulations in a constant state of flux.

Living paycheck to paycheck is never comfortable, but it’s even more stressful when you don’t know when or if that paycheck will come. Although the federal government did provide temporary aid to relieve the workers impacted by the coronavirus pandemic, that $1,200 stimulus check has likely run dry a while ago, and there’s no telling how long unemployment benefits can sustain you.

If you’re looking for ways to supplement your income during the COVID-19 pandemic, these remote side hustles can increase your cash flow to help get you back on your feet.

  1.   Virtual Assistant

One of the many great work from home tips is to become a virtual assistant. In the U.S., the average wage for a VA ranges from $16 to $20 per hour, and the job usually doesn’t require advanced experience. From data entry to email marketing, there is a long list of services you can sell over a virtual space. 

2.   Start a Podcast

Starting a podcast during your COVID downtime may give you the opportunity to pursue a more creative career path like you’ve always wanted. People are seeking out insights and thought leadership more than ever during these uncertain times and your story may have the potential to resonate with people who need to hear it. While this is a lofty goal, it can be extremely lucrative if you are able to make your podcast profitable. Worst case scenario, you may find a new hobby and creative outlet.

  1.   Copywriter

If you have a penchant for words, you may be talented at the art of copywriting. It involves engaging readers with the eventual goal of persuading them to purchase something, but that’s at the final stage of the “sales funnel.” Businesses also need high-level editorial content such as blog posts to attract readers and boost their online presence. You can find all sorts of prompts that pay per word count on sites like BloggingPro, although some may pay by the hour as well.

4.   Social Media Manager

Managing social media platforms can be a great way to supplement your income, since you can regularly seek out new clients and opportunities. Consider reaching out to local businesses and offering social media management for a fixed fee each month. Outline an incentivizing plan for different priced tiers and look into purchasing a tool like Hootsuite that can help you manage multiple accounts on different platforms, all in one place. A tool like this can be fairly affordable and should be one of your only overhead expenses!

  1.   Digital Marketer

Copywriting is one example of a freelance gig, but it doesn’t stop there. From web designer to digital marketing specialist, you can market your services as an independent contractor to businesses who might have had to lay off their in-house team due to COVID-19. This industry is growing larger by the day, so if you don’t have any freelance skills at present, you can take digital marketing training courses to help you get your start.

Browse SEO courses, learn how to blog for business, study graphic design techniques, and so much more. If these fields don’t fancy your interest, you can take a look at Fivrr.com to see how creative some freelancers get with their gigs—you could even earn a few bucks just for calling a stranger and singing them happy birthday. You can also find leads and potential customers by searching Google for sites that are in serious need of marketing help, and use a business email address finder to find contact information.

  1.   Tutor

Schools are on summer break,  but fall is right around the corner. With many parents required to work while their kids attend school online, parents may need the help of a tutor who can pitch in with homeschooling. There are tons of great online platforms that can help connect you with families seeking tutors. These tools can provide both parties peace of mind by running background checks, managing payment, providing resources for scheduling, and conducting online lessons.

To get started, you’ll need to decide which type of tutor you want to become. There are grade level tutors, test prep tutors, remediation tutors and the list goes on. Once you have an idea of what you’d like your focus to be, you can apply for tutoring opportunities through sites like Tutor Me. You can also seek out job opportunities by posting on job boards and connecting with local organizations looking to employ tutors.

People all around the world are considering other options, like getting online degrees, tutors, or different certifications. Schools, like University of the People, offer tuition-free degrees that help ease the financial uncertainty that Covid-19 has created for many. There are always different ways to continue learning, while keeping your wallet happy.

7.   Property Management

If you have money to invest, you may consider purchasing real estate to use as a rental property to bring in additional income. This can be a risky move to make as a side hustle so if purchasing property isn’t feasible right now, seek out property management jobs as a way to break into the real estate market. Working as a property manager can help prepare you for when you are ready to eventually invest in a property of your own, This can be an extremely desirable career move as properties are generally seen as good investments and can help to provide passive income.  

8.   Day Trading

Getting started in day trading will require a decent amount of preliminary research so be prepared to do your due diligence ahead of time. Keep in mind, this side hustle will require an initial investment. The good news is you can get started in day trading for as little as $1,000. Pick a strategy ahead of time and find a broker platform to conduct your trading through. Just remember, don’t risk money you aren’t willing to lose.

9. Pursue Your Entrepreneurial Dreams

Needing to supplement your income amongst the COVID-19 pandemic, may just be the final push you need to finally pursue your entrepreneurial dreams. While starting a business under the current economic conditions can be risky but as they say, big risk, big reward. If you decide to finally be your own boss, make sure you do your due diligence in researching what you need to get started. It’s a better time to get started in certain industries versus others. For example, cannabis consumption trends have increased since lockdown started. This example of the cannabis industry has not only remained stable but has actually increased in profitability. Another great example is Vibes Rolling Papers and their collaboration with Berner to create the ultimate smoking experience. Entrepreneurs taking risks in newer industries is a really cool way to get excited about pursuing your entrepreneurial dreams! There are a number of industries that have done well despite the pandemic, so make sure before starting your business that it is both recession and quarantine proof.

Final Thoughts

Find what sparks your interest and give it a shot. You might be surprised by how easy it is to start earning money and supplementing your income, so you can get by with less stress as COVID-19 continues to rock the economy. Using sites like Upwork to find side hustles like these can be easy and only require a simple employee background check. Upon passing one, you can get started earning extra income immediately!

Leave a Reply

Your email address will not be published.