Five simple and legit ways to make extra money in 2020

Five simple and legit ways to make extra money in 2020

If your 9 to 5 job doesn't allow you to live the life of your dreams, here are extra ways to make more money. 

Woman holding an empty wallet
Woman holding an empty wallet/ iStock

According to a report by Good Things Guy, only ten percent of South Africans have a salary of R7,313 or more a month.

Another 2017 report by Standard Bank showed that more than 10-million households in South Africa earn less than R7,167 per month.

With the high cost of living, it is no wonder so many people are in debt.

Business Tech reports that people are borrowing more than they can pay off. The report states that the debt to income ratio is as high as 135% (those earning more than R20,000 a month).

Apart from debt, the other problem South Africans are facing is retrenchments.

In September 2019, approximately 11,000 full-time and 17,000 part-time jobs were shed during the quarter.

So, it is crucial to have a side-hustle and not just depend on your salary.

Let’s look at ways in which you can make money in a legit way.

Sell products

First, identify a need of the people you hang around with and what they love and then find products you can sell to them. Some businesses might require you to have capital, but some don't. With some companies, people order and deal with the company, but you get paid for having brought customers. 

There are so many network marketing opportunities available, but the problem with them is there are so many scams and schemes. Do research on the internet and see what people are saying about the business.

This side-hustle is good for people who are great with marketing.

Online Surveys

You can make money by doing online surveys. Companies are always looking to collect data and they often do this by conducting surveys. For this side-hustle, you just need to devote a bit of time, have a good internet connection, and you are good to go. You can see yourself making hundreds of Rands or even thousands, depending on how many surveys you do.

Make money from your hobby or talent

If you have any talents that can see you make extra money, why not utilise it? For instance, if you have a great singing voice, you can approach businesses and offer to sing at their functions or even be a session musician at restaurants and clubs.

If you are good at painting, you can paint and sell your work of art. Others are good at baking and cooking. You can approach food retail stores and offer to supply them with baked goods. 

There are also those who are passionate about planting veggies and fruits. You can make extra money by selling your fruit and veggies in your area. 

Just look at what hobby you have and look at ways you can use it to make money.

Be a tutor

If you are passionate about teaching, you can sign up to become an online tutor. There are great institutions that are looking for online tutors and they pay good money.

You can also volunteer to offer extra lessons to kids in your area in a subject you are good at and charge an hourly rate.

Do reviews

One way to make extra money is to review products. If you sign up for this kind of thing, companies will send products to your home address and then you will be required to review and get paid for it. The good thing with this is that you also get to keep the products at home. 

Image courtesy of iStock/ andriano_cz

READ: Money mistakes to avoid in 2020

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