Everything else.. How you Can Increase your Side-Income During This Economic Crisis

How you Can Increase your Side-Income During This Economic Crisis

2022 May 13

Earning money during the country’s economic crisis can prove to be a gruelling task. With the soaring inflation, it has become a lot more excruciating to keep up with bill payments and grocery prices. In times like these, one’s abilities will be tested and you will be forced to adapt within a very short period of time before poverty can creep up on you. If your typical 9-5 job isn’t cutting it, then you can earn a little extra cash on the side by doing a side-hustle. A side-hustle is a secondary job that an individual performs in addition to their central job to supplement their income. A myriad of side-jobs exists; and we’ve compiled a list of a few side-jobs that you could do so that you don’t fall into any financial dilemmas in the near or distant future!

  1. Start a Blog

Starting a blog permits you to build your own personal brand and with this, you’ll be able to project your personality onto the world wide web for others to see. You can write about anything at all; you could discuss the events of your daily life (Diary Blog) or you could tackle a particular niche and base the blog around an interest of yours (E.g.: True Crime Blog, Book Review Blog, etc.). It is possible to monetize your blog through affiliate marketing, sponsored posts, membership content, brand partnerships, and the list goes on.


2. Become an Instagram Influencer

Everybody wants a little taste of fame, but most of us lack the capacity to sing, dance or act on a professional level. However, that doesn’t have to stop you from becoming an influencer on Instagram. You could base your account around your looks, your pet, your photography or an unorthodox talent of yours and build your following from there onwards! You’ll be able to earn money through Instagram takeovers or sponsored posts and you’ll be earning more than you’re spending!


3. Social Media Managing

We have another job that involves the use of social media. However in this case you will be managing and maintaining the digital image of a company or a brand. As a social media manager, you may be allowed to be flexible with your hours and you can work from anywhere you want since it’s an online job! The role of this job is to help businesses promote their products or services on social media platforms such as Facebook, Instagram, Twitter, etc. If you believe you’re good at running campaigns in the digital world, then this might be the best job for you!


4. Tutor

If you’re an expert in math, science or commerce related subjects, you have the opportunity to share your knowledge with students who are struggling with their academics! Depending on what’s more convenient for you, you could educate students online through a video calling platform such as Zoom or host physical classes and engage with your students in person. Tuition is among one of the most profitable fields of work in Sri Lanka and it wouldn’t hurt for you to make your presence known as a part-time tuition teacher!


5. Do Data Entry Work

Data entry work is severely underrated and only requires you to input information into a system. The best part is that the job requires no expert skills or experience. The work hours can also be extremely flexible in most cases! Working as a data entry worker earns you a decent income and applying for this job will be worth it.


6. Freelancing

If you’re specialised in a certain area of work or if you’re skilled enough to make money off of your hobby, then it is recommended that you start freelancing. Freelancing allows you to do the things you love while earning money from doing so. Not only do you get a means of income when you do freelance work, but you’ll get a sense of authority and empowerment considering that you’re self-employed. Freelance writing and freelance graphic designing are only a couple of options you could explore, and there are plenty of freelancing websites such as Freelancer.com, Fiverr, Upwork, Designhill, We Work Remotely, FlexJobs, Guru, Truelancer, PeoplePerHour and FreeUp.


7. Start a Drop shipping Business

This is a side-hustle that involves very little risk, which makes it an appealing option to consider. Drop shipping is a form of retail business where the seller accepts customer orders without keeping stocks on hand. You can sell whatever you want online; the choices range from food items and other essential goods to arts and crafts, apparel and accessories. The amount of money you earn from your dropshipping business depends on how much money you pump into the business and its marketing.


8. Drive for Uber and/or PickMe

Registering yourself as a driver for Uber or PickMe is guaranteed to provide you with a decent secondary income, and the registration process is extremely easy as it only takes a few taps! What makes this a great side-job to get started with, is the fact that all you need is your phone, your vehicle and yourself. This is also one of those jobs you can clock into right after you clock out of your primary job.


9. Rent a Room

If you have an extra room or property, you can rent it out and earn a passive income. If you’re looking at short-term renting, then Airbnb is the app you want to download. If the property you’re renting is located in a popular tourist destination, that’ll definitely increase your chances of getting tenants! For long-term renting, you could use ikman.lk or other similar websites that allow you to list your room/property.


10. Create NFTs

Non-Fungible Tokens are the biggest thing at the moment, and they aren’t going anywhere any time soon. NFTs are artistic concoctions that could be in the form of an image, video or an audio recording. Creating an NFT can either be a piece of cake or a tough task for you to tackle. It all depends on your creativity and your technological abilities. Although the NFT scene may sound a bit intimidating given the amount of research and learning needed to be done in order to get started, it’ll all be worth the effort since you’ll end up procuring ridiculous amounts of money!


The English proverb “he that cannot pay, let him pray” has never been truer than in recent days given that most of us are grasping at straws to feed ourselves and our families and provide ourselves with basic necessities such as electricity, water and fuel. So, getting yourself involved in a side-hustle can improve your chances of surviving the crisis our country is going through.

Have we missed any other lucrative side income avenues? Do let us know in the comments!