The 5 best extra income tips for teachers. Part 1.
It became apparent a year or so ago that regardless of how far I progressed up the teacher pay scale I’d always struggle with finances. This set me on a quest to find out methods of subsidising my income. Although I had limited success for a while, it wasn’t enough. Lately though I have done a lot of research and have started a few things that are beginning to show real promise. In the following post I will give you the five best extra income tips and share my story so far.
The most common way that teachers subsidise their income is with private tutoring. I’m sure most of you do it already but I want to touch on it briefly because its easy and profitable. Lots of parents want the best for their little angels and they are happy to part with cash to help them to gain better grades. I advertise on social media and tutoring specific websites. In England the best one I have found is tutorhunt. You make a simple profile stating your areas of expertise and how much you charge and wait till the enquiries roll in. In the USA I have found wyzant and superprof. I charge between £35-£40 per hour ($48-$55) so it can really help pay the bills.
Very similar to private tutoring is online tutoring. I have dabbled in this and it is easier than private tutoring as you can do it from your own home, you just need a laptop and a Skype account. It also has the benefit of having a wider geographic reach. The above websites also offer registration for online tutoring and you can utilise social media to gain customers. The financial gains are also comparable to private tutoring.
Sell Your Teacher Resources.
If you make great lesson resources you could also sell those. Mine aren’t great so I don’t do this one but I have teacher friends who do this as a sideline and it’s pretty easy since you’ve already done the hard work and road tested your stuff! teacherspayteachers is a very popular site for this method but there are many others. This method has the benefit of not really requiring much of a time investment. Tip: If your resources are a bit like mine (average), team up with a colleague who does produce top stuff and do it together and share the profits.
Buying and Selling Items on Ebay.
This one takes a bit of time investment and doesn’t always reap consistent income but I know people who do pretty well at it. The key to this is research; what are people buying and what prices are people paying. Once you’ve done your research you can get cracking. Ebay has a good article on it here.
Sell Your Own Products.
If you have a talent for making things; Jewellery, clothes, art etc, you could start an online store to sell them. Etsy is a very popular outlet for individuals to do this. My wife and I bought our wedding rings on Etsy, they’re great. If you make great stuff you can make a decent income from this method.
These are all very good ways to make extra cash and definitely work. The only downside is they do require and investment of time, something a lot of us don’t have. My next post will be on my new research; passive income. Roughly put, passive income is income you make without having to invest time….sounds good right!
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