5 most profitable side hustles for filipinos

In this day and age, it is impossible to only rely on your nine to five salary to be able to save money. Sure, this money might be enough for monthly expenses and bills, but to truly be able to save money, experts say you should have something on the side as well.

Some side-jobs would offer passive income or others that would require you to devote time and effort in as well, but then you should find something that you are talented at or something that you enjoy doing to earn you some extra moolah on the side.

The five most profitable investments for millennials in 2019

Filipinos are very creative people. We are people who have a lot of skills, and we are not afraid to use them to our advantage. Find a way to use your skills, talent and extra time to earn you and your family some extra money, while having some fun in the process!

A financial adviser or insurance agent

This kind of work will earn you around 30,000 to 50,000 in salary if you are skilled at doing sales and convincing people to buy insurance. The good thing about this job would be that many people are now realizing how important it is to have life insurance. This type of job would not need very much of your time. You can do this as a part-time job, only during the hours that you are free.

Note: This type of side-hustle would be lucrative for you if you know who to offer insurance to. This job would offer a commission-based salary, so if you are not able to have any new clients, you will not be able to earn from being a financial adviser.

Freelancer

Working from home is another trend that is fast becoming a way to earn extra cash. Many professionals would offer their skills to potential clients that they would find on online employment platforms such as upwork.com, onlinejobs.ph or even on Facebook groups! The trick here is to find what you are good at and then look for jobs that you can do online. The catch here is that you have to have a stable internet connection, laptop or desktop, and some extra time everyday to invest in this job. 

Note: Not every online job would be legit. You have to make sure that you were not hired by a scammer. Usually, you would have to take a gamble until your first salary. If they pay you on time, more likely, they would be a legitimate employer. You can also look them up online, or ask Facebook group members if they have ever been hired by such an employer or company. They will attest to the employer’s trustworthiness.

Passive income

If you have the money to invest, you can be able to buy a condominium and have it rented out on Airbnb. You can be able to earn an income using this investment because many people will grab the opportunity to have decent accommodations at a lower cost when they go on vacation.

Note: There would be some guests who might stay at your property and not respect it. They might destroy a part of the property and blame it to wear and tear of your unit. Be ready for these kinds of guests and implement a policy that would protect your rental house.

Buy and sell

Another way to invest would be to go into the buy and sell trade. If you are a hobbyist who likes cars, you can combine your hobby and sideline job to go into buying and selling cars.

Note: This would require some capital before you get started, and you have to know the right people that would be interested in buying your restored cars for the business to stay afloat. Once you would be able to make sales, word-of-mouth would be your best marketing tool.

Skills services

In your free time, you can offer your skills to neighbors and friends. Are you good at writing? You can offer to correct school papers, or proofread any important reports your friends have for work. You might also want to offer to bring your friends’ children to school if their school in en-route to your workplace. All of these services can help earn you extra money.

Note: This would require you to market your skills online, You can choose to advertise your skills on Facebook to your friends to see who might be interested in what you can offer.