- Finding a new full-time job can take time and hard work.
- If you're struggling with the lack of income while in between jobs, there are some ways you can make extra money in your free time.
- Getting a side hustle, doing consulting work, selling extra items around your home, and getting a part-time job are some ways to make extra cash so you can continue to pay your bills.
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A loss of income while in between jobs can be stressful. As you seek a new opportunity, you'll need money to meet your financial obligations. While a solid emergency fund can help you feel less financial strain, finding ways to bring in some income during this time can be worthwhile.
Here are a few things you can do to fill the gaps so you can continue to pay your bills and feel less stressed about your financial affairs despite being without full-time work.
1. Get a side hustle
A side hustle can help you make extra cash to pay your bills. The nice thing about side hustles is many of them are flexible, allowing you to work at a time that fits your schedule best. If you prefer to work remotely, look for side hustles you can do from home. The following articles may help you find the right side hustle that fits your interests and skills:
2. Sell items you no longer need
Extra items such as clothes, electronics, and furniture, can be sold to free up space in your home and bring in money. If you have belongings you no longer need that take up too much space, consider selling them for a profit. Online platforms like Craigslist and Facebook Marketplace are one option to explore. You may also want to list your unwanted items in online community groups for greater reach. It may take time to sell your stuff, but any extra income earned can help increase your checking account balance.
3. Find a part-time job
If your ultimate goal is to land a full-time job, you'll want to leave room in your schedule to continue looking for one. However, it could be beneficial to get a part-time job, so you have the income to pay some of your bills. Depending on your experience and skills, finding a part-time job in your current industry may be challenging. But if you're willing to learn new skills and are open to working in a new field, you may find paid, fulfilling part-time work.
4. Do consulting or freelancing work
Similarly to a side hustle, consulting and freelancing work can provide much-needed income while in between jobs. If you're an industry expert or have unique skills that can benefit other companies, consider freelancing or consulting to make extra cash. Some people do so well with this type of work that they decide to start a small business of their own instead of returning to work for an employer.
5. Get a roommate
If you have an unused room in your home, consider renting it out to bring in extra money. While living with a roommate can be an adjustment, the extra money may help you feel more financially comfortable and could help you avoid expensive credit card debt. If you haven't lived with a roommate before or it's been some time since you have, consider how your life will change by inviting someone to share your home before making this decision.
Get creative in your search for income opportunities
Don't feel discouraged if your job search isn't going as planned. Finding a new role can take time. But there are ways to make money in the meantime. If you're feeling stressed about the lack of income, don't be afraid to get creative as you brainstorm ways to make money. Bringing in even a few hundred dollars a month could help improve your personal finances.
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