The COVID-19 pandemic struck a huge blow on Filipinos everywhere, especially in terms of employment. Due to coronavirus restrictions, several small and medium-sized enterprises are forced to cut their employees’ salaries or lay them off completely. Consequently, a lot of workers expressed their worries on how to send money to their far-off relatives and families; several more wonder how they’re going to pay their bills and other needs.
Thus, it’s not uncommon for family members to look for other sources of income to keep the household afloat during this crisis. Whether you’re still studying, working full-time, or recently unemployed, there are some side jobs you can do to earn that extra cash. Commonly known as a “raket”, these side hustlesside hustles can help you in making ends meet during these difficult times.
Here are seven side hustles you can consider doing in your spare time:
Financial Advisor or Insurance Agent
If you have good interpersonal skills, consider becoming a financial advisor or insurance agent. The job mostly comprises of giving advice to clients on managing their finances and sharing information on insurance policies. The main goal is to convince clients to insure themselves by highlighting the importance of insurance and how it can help them in the long run.
Depending on your skills , Business Analytics degree and the amount of time you pour in, insurance agents can earn up to Php 50,000 a month or more. Indeed, you’ll find many financial advisors who began as part-time agents and then traonsitioned to full-time advisors once they began earning more. If you manage to land a job under a good insurance company and put in the time and effort, it will surely be a rewarding side hustle.
Transcription is the process of transcribing the audio text into written text. Some of the forms of media you might be asked to transcribe include podcasts, video blogs, seminars, and meetings. To do this job, you need to be a good listener and fast at typing. More importantly, you need to be accurate. It won’t matter even when you work fast, if the information you’re typing is wrong.
The great thing about transcribing is that you can start as a complete beginner. Several sites such as TranscribeMe, Quicktate, and Scribbie offer transcribing jobs. While the pay can be quite low in the beginning, you can easily work your way up. As you get faster and better at transcribing, the more projects you can work on, which translates to more income.
As its name implies, a virtual assistant is a person who helps an employer in handling administrative tasks from home. Some of the responsibilities include managing email accounts, uploading content, conducting some research, and scheduling meetings.
Virtual assistants often have flexible working hours, which means that you get to choose how many hours you pour in each week. In terms of income, virtual assistants are typically paid at an hourly rate. The rate highly depends on your skills and the tasks that will be assigned to you. Unsurprisingly, more specialized skills (e.g., system administrators) have higher rates, which can reach up to USD 14 an hour.
Sharing economy refers to an economic model where privately owned assets and services are shared between peers for an agreed fee. For example, if you have an unused car or an unoccupied room, you can rent them out to other people and receive a passive income. With the rise of apps such as Grab, Lalamove, and AirBnB, connecting sellers to potential buyers has never been easier.
There are three primary ways you can tap into the potential of sharing economy:
- Ride Sharing. If you have a car or motorcycle and some spare time, consider becoming a TNVS (transport network vehicle service) driver. In this job, you basically help customers go from one place to another. The most popular example here in the Philippines is Grab.
- Courier and Delivery Services. If you’re not too sure about ride sharing, you can try transporting items instead, such as food orders or parcels. Food deliveries, in particular, are quite popular in the Philippines.
- Home Sharing. If you have a spare condo unit or room, you can rent it out to tourists or workers who live far away for a decent profit. Airbnb and Agoda Homes are some apps that can help you find potential boarders.
Don’t forget to abide by government guidelines on ride-sharing and courier services. Help protect yourself by wearing the appropriate garments, such as masks and face shields. Moreover, always carry alcohol and other cleaning agents to ensure a sanitized environment for you and your customers.
If you have a lot of unused items at home—such as clothes, jewelry, books—try selling them online. Social media is an effective platform to reach a lot of potential customers who might be interested in your stuff, considering how many Filipinos go online every day. Consider e-commerce platforms and online marketplaces as well.
Aside from used items, you can also sell products that you made yourself, including baked goods, specialty dishes, and other customized products. You can also become a reseller if you’d rather not make your own products to sell. Take advantage of the native features of social media platforms and shopping apps to promote what you’re selling.
Needless to say, these are only some of the side jobs that you can do. Do your due research and ask other friends and acquaintances who also have side jobs. The important thing is to find one that’s best-suited to your skills, available time, and other resources.