3 Ways You Can Earn Extra Cash in Canada
The average Canadian earns $986 a week which works out at just over $51,000 a year. With average monthly living costs of $3500 a month that leaves most Canadians with around $9,000 expendable cash at the end of the year.
If you are looking to save money as well as enjoy your life, then this isn’t a particularly large amount of expendable cash. So how can you earn more money without getting a job with a higher salary?
Read on to find out.
Working Independently
Recent figures published in the United Kingdom highlighted that there are over 4 million people in the country working remotely in addition to their day jobs. The technological revolution witnessed in the past decade has opened up a world of opportunities for those of you looking to make extra cash. Below, we show you how you can make extra cash from home in your spare time.
Affiliate Marketing
18 million people worldwide update a blog daily and a quarter of all internet usage time is devoted to blog reading on specific sites or social media. Blogging is a very big industry. If you have a passion and a knack for writing, you can monetize it.
Whether it be your local sports team, fashion, politics or business tips, you could create a blog about it. There are numerous free tools available to create a blog platform. There are also a lot of professional website building sites if you want a sleeker blog look.
Once you have built a steady following of fans and readers, you can monetize your blog through affiliate marketing. Effectively, you will be paid to advertise a product or service by a company in your content. It can be through reviews or recommendations.
For every sale that your content generates you will receive a commission from the company. If you’re targeting bigger commissions, one of the biggest growth sectors in affiliate marketing in Canada is online gambling.
Affiliates make money through encouraging visitors to click on the advertisements and spend money at the casino. The online casino only pays for advertising that results in a transaction. Basically, everyone’s a winner.
From the casinos point of view, affiliate marketing is a trusted way of attracting players. It also helps in improving the status of an online casino. In Canada, it is particularly popular with those that are major players in Britain and are now seeking to expand and attract players to their Canadian online casino, so keep an eye out for trusted names and the opportunities they offer.
The beauty of affiliate marketing is, if you are blogging about something that you actually love, then the money you make from it will be even more satisfying.
Selling on Amazon
Buying and selling is the building block of every single capitalist economy in the world. Buying something cheap and selling it for a profit has been made even simpler by Amazon Marketplace.
The website receives 181 million unique monthly visitors, with revenues of $40.47 billion in the second quarter of 2016 alone. You can earn a slice of that pie too! Amazon offers shipping, handling, and customer service and search engine optimization to its third-party sellers.
All you need to do is find a product or a category that you can make money from and then sell it on Amazon. The company will obviously take a cut of your sales for the services they offer. With that, you have to carefully review your profit margins before selling.
The ease of shopping with Amazon means that most consumers do not bother to shop around for the best deals. Most Amazon customers simply want something as quickly as possible. If you do the shopping around, then you make the money.
Many retailers offer monthly and weekly deals on some of their best-selling products, keep your eye on these and stock up when offers are in. Hold onto the stock for a while and then sell it on Amazon at its full price, hey presto you’ve made money!
It will take time to grow your profits as you will have to reinvest your profits into acquiring more stock. However if you do it on the side away from your day job, you can take it easy and watch your profits steadily grow to top up your expendable income.
Teach English Online
There is a huge demand for English speakers in China and the Middle-East. They are also in-demand in countries with rapidly growing economies looking to expand into English speaking markets. If you are a native English speaker and have a good internet connection, that’s all you need to start teaching English.
There are a whole host of companies, such as SayABC, that connect native English speakers with students virtually. Due to the time differences, you can often organize online classes in your spare time after work or at the weekend.
Of course, you will have to come up with engaging lesson plans, but it will be worth it when you earn around $30 an hour teaching a child English! Before you decide to teach English online, make sure you do your research and find the company that suits you.
On average you can earn $30 an hour, but there are some companies that offer much less to take advantage of newbies.
