The COVID-19 pandemic has brought financial anxiety to an all-time high for America’s workforce, jeopardizing the incomes of millions in the service, retail and gig economies. And for those who are self-employed, the crisis has made an unpredictable work environment that much more stressful.
As an independent worker, finding ways to save and supplement your income is more important than ever. Unfortunately, it’s also going to be a bit harder. With that in mind, here are a few quarantine-friendly ideas that could help you boost your income in the short term.
With schools closed across the U.S., students are now being taught at home. In the absence of hands-on instruction, an argument can be made that the need for online tutoring has never been greater.
Sell Items Online
Now that so many of us are stuck at home, it’s a good time to try selling the items you’ve been meaning to clean out of your closet. Websites and apps that offer opportunities to sell your stuff online include ThredUP, an online thrift store that acts as a host for selling your clothing, and Decluttr, an online marketplace where you can sell your old electronics, video games and books.
Food and grocery delivery can not only be a great way to make money, but it also gets you out of the house. If that sounds like a good idea, consider delivering for services like Shipt, Postmates, DoorDash, GrubHub (NASDAQ: GRUB) or Uber (NYSE: UBER) Eats — and be sure to take all necessary health precautions when you pick up and make deliveries.
Watch Videos And Take Surveys
A great many websites will pay users to watch videos, take surveys or shop online. Services like SwagBucks are among the easier ways to earn money from home, with payments made through cash, points or gift cards.
Start a Side Hustle
With everyone stuck at home, there may never be a better time to start your own business. Keep in mind, though, that of all the ways to make money from home, this one may be the hardest.
If you’re up for the challenge, there are lots of ways to get started. The application Anchor works as an all-in-one platform for people who want to do a podcast. Sites like Squarespace and Wordpress make it easy to create a website. And Shopify Inc (NYSE: SHOP) takes the guesswork out of setting up an e-commerce business.
Remember, self-employed workers should set aside income for quarterly tax payments. AARP Foundation Self-Saver can help you manage your self-employment taxes — and it’s free if you sign up before June 17.