The Coronavirus pandemic has hugely affected businesses across the globe with companies scaling down and retrenching workers.
Small businesses have also been affected as some have had to shut down while others solely depend on online services as a precaution to combat the spread of the deadly virus. With the stay at home directive, creating an extra source of income comes in handy.
Here are ways you can use to make extra money while social distancing:
1. Create Online Content.
Content creation is one of the surest ways to make money online during this period. Although the proceeds are not instant, this can work as a plan post-COVID-19. Online content creation involves blogging, podcasting, marketing through sponsored posts and many more.
Mediums such as Instagram, YouTube, Facebook can easily earn extra money through sponsored posts. For instance, one needs to have a targetted audience, a good following and ideally has to change their profile to business to be able to reach the right kind of people.
This technique does not require much as long as one can afford a smartphone and have internet access. An individual can also promote their business online since most shops are closed and make door to door deliveries.
Making masks using different designs is also a good way of earning extra money during this time. Masks are highly needed hence making some from home and selling at affordable prices serves as a source of income.
2. Make Home-Made Sanitizers and Sell
Sanitizers are on very high demand and one can make them at home in correspondence with the required ingredients.
According to the Centers for Disease Control and Prevention (CDC) required sanitizers need to contain at least 60 percent alcohol.
You can make soap and sanitizers at home using alcohol (99 percent volume), aloe vera gel and other essential oils such as tea tree, lavender oil or just lemon juice.
This can be repackaged and sold at affordable prices and in the process one is able to make profit and earn extra money.
3. Clean out and Cash In
This basically means cleaning out old clothes, shoes, electronics and other equipment that you no longer use and cashing in by selling online.
This can help make extra coins as there will be people who will find them useful and are willing to trade.
Therefore, you can use this opportunity of extra time at home to do a deep clean of closets and drawers. Anything that is no longer useful or does not fit can be sold online at affordable prices and in turn make some extra money to sort other essential issues.
Cellphones, computers, clothing, cameras, shoes, purses, and makeup can be sold through online apps like Jumia.
4. Offering Babysitting/Tutoring Services
During this time, schools are closed and the majority of children stay at home throughout. You can take this opportunity to offer tutoring services depending on your area of specialty as well as babysit kids.
This can be done at a fee with effective precautionary measures put in place to combat the spread of COVID-19.
5. Taking Up Delivery Services.
One can take upon delivery services especially if you have a car or motorbike. This entails delivery of food services, clothes, groceries and other essential stuff.
Therefore, this means taking up the role of a food delivery driver where you are paid a certain commission for delivering certain services. This comes in very handy especially at this time when businesses are limited to online services and door to door deliveries.
6. Write Articles, Resumes and Stories for Online Consumption.
Writing of articles and resumes is currently on high demand since majority of people are staying at home with very little fun activities to do.
Writing articles and publishing on websites can earn extra coins. Ideally, there are online platforms that offer employment where one can design profiles and professionally write CVs and resumes for individuals and get paid a certain percentage. This can fundamentally put more money on the table at this time.
7. Investing in Stock Trades.
Stock marketing is a long term investment that would help make extra money post-COVID-19. For instance, you can make money by taking advantage of short bursts of market volatility.
This can be done in three ways:
Shorting -This means you borrow a certain number of shares of stock from a broker, sell them and purchase them later at a lower price. Once you’ve repurchased the shares you borrowed, you’ll return them to your broker and keep the profits. This is effective because one does not need capital to invest although it is no guarantee that you will make profits.
Day trading -This is a stock trading strategy that capitalizes on hour-to-hour price movements.Here, you can buy stocks when they’re undervalued and sell them at a higher price, saving the profits between the 2 trades.
Swing trading – This is a riskier trading strategy that operates on taking advantage of price movements over a few days. For instance, you can buy stocks that you think are undervalued after monitoring for a couple of days and then sell them as they peak in value. This however does not generate immediate income as one has to monitor movements for weeks or months before settling in.