1. Build your Credit Score
2. Reduce your Current Borrowing / EMI Costs
2020 wasn’t exactly a stellar year of employment. The pandemic brought in its wake, among other things, unemployment, job loss and furloughs. From the 4th quarter of 2020 and in the beginning of 2021, we see the situation to improve slowly. However, the situation is still uncertain. There are of course certain industry sectors that are doing better than others, but on the whole the industries are still seeing layoffs and stagnation.
In times like these, having a side hustle or a side business can be really useful. And look, if you can leverage your business in the right way, you may not even have to spend a lot of time, money and effort on it. For instance, if you build an online course on an in-demand subject, you can earn money on auto-pilot! That’s passive income for you every month. So if you have one of those jobs that are or were hit hard by the Covid-19, you’ll need a side hustle.
Here are some ideas to get you started.
Just ask a child and she’ll tell you how the lockdowns affected her studies. Indeed, schools were shut down not long after the pandemic was declared. Right now, yes schools are opening up slowly but there is still fear of the virus, especially of its second wave.
School children are combining online classes and in-school classes. This puts more burden on them, and on their parents and teachers. This however gives you a good opportunity to earn a side income as an online tutor. So if you are really good or have knowledge in a subject, go ahead and try your hands in becoming an online tutor.
You can teach science, math, music, etc. For all the kids getting bored at home and not being able to go to school, you can be a savior and earn well while at it! As a tutor, you can set your own schedule.
You can easily get writing gigs online. Think about it: each year hundreds and thousands of new websites are being made from around the world. And the ones that already exist, well, those need new content. And who can give it to them? You!
All you need to do is to be good enough, or write well enough for your clients. In the beginning you may make less money as a freelance writer as you build your portfolio.
You don’t need any technical knowledge to start in freelance writing. You just need a very good command over English. And once you get real good in your niche and get the top clients, sky's the limit as to how much you can earn.
Most people think freelance online is only in the field of writing. However, they say it since many if not most people online give writing services. The truth is you can freelance in anything you want.
For instance, if you are a skilled painter, musician, chartered accountant, etc, you can teach people the skills which have earned you accolades.
So there you have it: 3 side hustles for 2021! We wish you a happy and prosperous freelancing.