Career transitions are difficult for everyone. It’s a stressful time, whether you’re applying to jobs while employed or out-of-work and on the hunt, thanks to the uncertainty of it all. Even once you have a lead on a new potential job, Time reports that it takes job seekers 43 days—from application to their first day—to land a new position.
Not to mention, worry about income gaps between jobs only adds to your anxiety. Mitigate the stress, and make some money on the side, with these simple ideas.
1) Start a Side Hustle
There’s a reason 44 million Americans have side hustles—it’s a way to make extra money consistently. In fact, 36 percent of side-hustlers net $500 or more each month. Applying and interviewing can feel like a part-time job in itself, but even small amounts of work on a side hustle can add up and keep you from dipping into your savings.
Start by taking stock of your marketable skills like graphic design, writing, or developing. Use freelance websites to find one-time projects or on-going positions that will help you get by. Then use sites like UpWork to apply for gigs or be contacted based on your skills.
If you’re not ready to jump into a side hustle, check out options like dog-walking or house or pet-sitting. These types of gigs might not pay as much, but they’ll help maintain your bank account as you look for your next job.
2) Rent Out Your Home or Car
Homeowners can make extra money by renting out their apartment or house. Check out this AirBnB estimator to calculate potential rental income for your home. Renting in large cities can be especially profitable, with the most profitable cities being New York, NY, Los Angeles, CA and Chicago, IL, according to CNBC. If you can’t rent out your entire home and you’re comfortable with house guests, you can even rent out a spare bedroom.
If you rent, this is likely not an option for you, as most landlords don’t allow subletting or short-term rentals. However, if you have a car that you’re not using every day, you can accrue rental income from your vehicle as well.
Carsharing services Hyre or Turo allow car owners to list their vehicles for daily or weekly rentals. These platforms not only screen all renters, but provide additional insurance for your car, giving you peace of mind while earning passive income.
3) Learn How to Play Poker
If you already have poker skills, you can join local games to compete for cash pots. Sites like MeetUp can help you find games in your area if your friends don’t already play regularly. If you work in finance and analytics, or a high-stress environment, poker is not just a great way to make money but to continue challenging your brain while out of work. John Navin, a player and Forbes contributor shares:
“The idea of the challenge is what seduces me: to put money on the line based on my knowledge of what works and my read of the actions of others. I have no doubt that I can reach a high level of the math, but the other part: basing bets on my assessment of others, adding that to all of the probabilities involved, that’s the tough part, I think.”
Don’t just jump into your first game—especially if you’ve never played before. Instead, start by brushing up on the rules. Check out Global Poker’s, how to play guide. They explain every step of most popular poker game, Texas Hold’em, so you can head into your first tournament feeling ready.
4) Sell Unwanted Clothes or Household Items
Devote an afternoon to purging your home or storage areas looking for items you no longer use—and then sell them for cash. High quality clothing can be taken to a local thrift or vintage shop, or sold online through sites like Tradesy or thredUP. You can also snap photos of gently used home-goods, furniture or even decorative pieces, and easily put them up for sale on Facebook Marketplace, Craigslist, or apps like Letgo.
Steer clear of selling all your items at garage sale, or having a garage sale at all. According to the Penny Hoarder, selling things individually through category-specific platforms, like Bookscouter, will net higher profit.
5) Sell Your Crafts
If you always make your family sweaters, hats and scarves for christmas, it’s time to start making money doing what you love. For example, if you love knitting clothing, you may want to start selling your products online. This helpful guide, How to Start An Online Clothing Store in 7 Steps, explains every step, from setting up your store to keeping track of inventory. If you make other products, like wooden blocks or custom frames, this guide will be just as helpful.
You can also reach out to craft fairs and local maker markets to be a vendor. This exposes you to a wide audience of shoppers, without worrying about setting up a store online. However, it will limit what you can sell, so be sure to consider all options to ensure you’re able to get by.
Get Through Your Career Transition
Transitioning to a new career is stressful for many reasons, don’t let money add to your worry. If you devote time and effort to earning extra cash, you’ll be surprised how quickly it can add up. As an added bonus, working on income-generating projects is a great break from writing cover letters and applying for jobs.
