How have you been spending your time during the pandemic? Are there any new skills that you’ve learnt? Have you picked up a hobby that was long impending? These questions have become the topic of discussion in most households. However, we wanted to take a little detour and instead suggest something new. We wanted to discuss more on the lines of “how to double your income” during this lockdown.
Now, doubling ones income isn’t going to be easy. But neither is it going to be impossible or hard to achieve. All you need to look into is which field you’re considering and how much time you’re willing to invest in it. These factors are important to consider because not every online job will double your income and not every job that doubles your income, will be known to you. So, taking into consideration all of this, your job hunt will begin.
Before we jump straight to the 3 ways one can double their income, let us look at why taking up a job during this lockdown is a good idea.
3 reasons to double your income during this lockdown
One of the main reasons why you should take up a job is so that you can utilise your time better. Most of us have become inactive, routine-oriented, laid back wherein we should be more active instead, goal-oriented and motivating ourselves. Taking up a job during these times, will help you pass your time more productively. It will allow you to exercise your mind and help you apply yourself better. Also, when you find an opportunity to double your income, you will automatically be more productive. Money is definitely a driving factor to taking up work.
A good work from home opportunity can also help in finding the right balance between work and family. It is very essential to have a sound mind with everything that is going on, around us. So it is a great idea to boost your productivity by working.
Taking up a job during these times will definitely contribute to keeping your mental health in check. A happy mind is a happy heart. Earning and learning on the job will not just fill the money pockets but also tiny pockets of happiness in your life. It is very important to accept changes in our lifestyles, routine and work ethics and this acceptance will come once your mind is strong and healthy.
Working doesn’t allow you to focus on ten other problems because you are either target-driven or goal-oriented. The focus on work will help you deal with other things at the right pace and the right time. As your mind is occupied with work, it will definitely avoid coming under any type of additional stress.
Extra income is always useful! It can be used for several things like; paying loans, enrolling for courses, paying home bills, contributing to other expenses etc. But most importantly, it can be used for saving for the future.
It is true when they say that no one has seen the future and when one questions the point of saving. But, let us look at the brighter side and see how it can help indeed.
By saving your extra income, you can plan of building a brighter future. What if there is no job guarantee, what if the cost of living exceeds our means? Having extra income in savings will always come in handy. Whether it means to start your own business, invest in property or fund your child’s education; it will be useful. You can also live less frugally and may be enjoy life a little, especially if it has been a tight situation given the last few months.
Aren’t these reason enough to aim to double your income? It is all about ones well being and how they’d like to go about their lives, professionally and personally.
Now that we’ve given you enough reasons to want to consider a way to double your income during this lockdown, let us tell you how you can. These 3 jobs are definitely going to increase your earnings in no time so let’s get straight to it.
3 ways to double your income
Online Reselling- a zero investment option to double your income
One of the hottest trends these days is the concept of online reselling. Unlike offline businesses, this online gig doesn’t need you to invest. In fact you’re even saving on other costs like paying for the rent of your store, paying your staff, paying other bills and so on.
There are two ways of doing this:
- Either you source products from a manufacturer and resell them to your customers or,
- You sign up with an online reselling portal where they allow you to pick products from their catalog
If the first option isn’t all that feasible, the second one is definitely a highly recommended one. Shop101, Cartlay, HiBoss, GlowRoad are some of the online reselling apps/websites in India that you should check out now. Speaking of Shop101, it allows you to create your very own store online in less than 2 minutes. It is not just a zero investment platform but also a risk-free one. The process of online reselling with Shop101 is simple and requires only 3 steps to have a successful and running business:
- Pick the products that you want to resell
- Share them on different social media platforms like Facebook marketplace, WhatsApp and Instagram
- Earn margins on the sale of every product
With these 3 steps, you’re not just closer to your dream but you’re also in the process of earning double income. The best part is that the payments are released every week which means you need to work on marketing your products well. The more you market them, the more likely you are earn profits and quick returns. The Shop101 app allows you to directly market from their app. It also assists you to create a website for your store. With all these features readily available, signing up with an online reselling platform seems less risky and more profitable if you’re looking to double your income.
If you’re a finance student or if you love numbers like a few others do, the job of a stock broker might be something to consider if you’re looking for ways to double your income. There are also many courses that teach you the A-Z’s of stock trading. Learn all there is to this profession and you can start the process of earning while learning.
As a stock broker, you can either join a firm that requires agents to deal with different clients. Your job will be to advise your client to buy, sell, invest in the stocks of certain companies. Your aim or your client’s expectation from you will be that of gaining profits. Stock trading is all about buying and selling at the right time and the right price.
You will also need to be up-to-date with the market trends. The ever changing stock market can be really a deal breaker for clients who invest. So, as an agent you have to calculate your moves to get the best price for your client’s stocks.
Once you gain enough expertise in the field, this is something you can do even on your own. You just need to have the ability and qualifications required to handle different client files and their stocks respectively. Once you have the license to manage the finances safely, you can practice and put it to use. You can charge on a per client basis and show your portfolio from earlier, to get a decent pay package from them. Once you set the ball rolling, it becomes easier on your client to trust your judgment.
All of us have gone digital, to the extent that even schools have caught up with us now. With online classes being the new normal, here’s your chance to tap into this niche.
All you need is a certain amount of expertise and a laptop/smartphone to support this. You can start off by teaching your neighbours’ kids or relatives children. Set up a nice desk for yourself and make it classroom friendly. Have your stationery and teaching materials close to you, so that it is easy for you to access them during class. With online video conferencing made easy, you can easily handle a class of 10 students.
Remember that online class is not only limited to teaching kids, it can also be teaching specific skills and hacks to grown ups as well. For example, you can conduct simple baking classes or sculpting or making your own decor etc. The main idea is to conduct fun and engaging sessions for your audience; kids or adults. The more popular your classes are, the more likely will you get more batches to run. It is all about presenting your idea in a fun and interesting way. Keep in mind the kind of requests that people put out there. Online classes are a great way to double your income because all you need initially, form a community who would like to learn.
To make it more professional, set up a professional profile on sites like LinkedIn, Upwork etc. It’ll be easier for people to find you and connect with you based on what you put out there. Use appropriate and niche friendly keywords so as to cater to those looking for your specific skill. List down the pricing on your profile or a contact detail where one can talk to you about pricing. That’s all it takes to double your income using your existing skill set.
Now that there are more reasons to consider to take up that job, it is time to go over that road block and start earning. In no time, you will be able to double your income while also bridging the career gap, if any. You can also check out this article to get a list of jobs that will help you earn extra income.
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