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Personal Finance

15 quick ways to make extra cash without quitting your day job

While working your job, there are a few side hustles you can take on to make extra cash.



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There are diverse views about having additional sources of income. Most people think it is wise to have other earnings and to work daily; that’s why they continuously search for ways of diversifying their sources of revenue. At the same time, some believe that investing in one sustainable source of income can be more profitable. You may have a permanent career, but it may not give you the degree of financial independence and ease. Therefore, to avoid financial stress, it is worth finding ways to increase your profits. This feat can be accomplished by activities which, in addition to your daily work, can earn you extra cash.

READ: Thrive Agric drama: What it means for Nigerian investment startups

Below are 15 quick ways to make extra cash without quitting your day job;

1. Writing E-books

If you are dedicated and enthusiastic about sharing your thoughts and views with others, then this approach might be one to lay hands on. Writing e-books offers you the ability to monetize your expertise and ideas. This can be achieved by either using the Microsoft Word Document app on your smartphone or other writing apps. You need to find a way to arrange your information in a manner that is useful to your audience.

2. Organizing Webinars

Online classes can be held in various areas for a range of topics. Suppose it provides an opportunity for people to learn. In that case, it can be a good source of extra income. You have to build an online forum to attract an audience and share your expertise for pay if you are experienced in a specific field. You get to gain a certain amount of authority and power in that sector in addition to the money.

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3. Managing Social Networking Channels for Businesses

Many enterprises are increasingly appreciating the need to build an online identity for themselves. By controlling social media outlets for corporations and creating visibility and engagement for them, you can make extra money.

4. Private Tutoring

This is a great way to make extra cash at your convenience. You can grow your expertise into a profitable side job by tutoring students on the subject areas that fit around your interest. You can offer one-on-one coaching or lessons to students for pay. Tutoring offers flexibility and allows you to shuffle between your day job and the classes conveniently. Another benefit is that you get to set your own pay rate for tutoring.

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5. Babysitting

This is another way to earn extra cash by taking care or looking out for children while their parents are away. However, if you are on a 9-5 job, and you consider engaging in this, you will need to analyze and plan your schedule to allow you the time to venture into this.

6. Starting a Retail Business

This is one of the fast-growing ventures that guarantees you a regular cash income. To make extra income, you can engage in selling goods and services that are not readily available in your locality. The good thing about retail business is that any product or service can be sold if useful marketing techniques are employed.

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7. Subletting

Some items you own that are not regularly used can be let out to people for an agreeable period to receive payments. This is a profitable way of making extra cash without having to quit your day job.

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8. Monetizing Your Hobbies

Are you looking for a way to make money while having fun? Then this can come in handy. If you have an activity, you engage in at leisure; It is possible to turn it into an avenue for making extra income. Fun activities like cooking, reading, baking, and games can be grown into a money-making venture. You can cook and deliver to people, and you can organize reading courses and charge a fee for it. The goal is to make additional income while enjoying what you do.

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9. Selling Products Online

A lot of people have established an online presence for themselves. They have an audience they can interact with. This offers them an edge to sell different products and services. You can take advantage of your social media platforms to attract customers and sell any product by consistently creating awareness of the products and services you offer.

10. Running Handy Jobs

Many homes are in search of skilled handy person to help with the maintenance and home repairs. If you are experienced at managing repairs and installation of home appliances, then this can earn you extra cash.

READ: 10 side businesses to sustain your professional career

11. Selling Your Craft

A lot of people engage in craftwork as a leisure activity. They are skilled at producing and decorating objects by hand. Artists and artisans can make money from their talent and creativity by building a brand for their crafts which will offer them the opportunity to trade their work for extra income.

12. Providing Laundry Services

Nearly everyone cherishes convenience. A lot of people would not mind sparing some notes to have their clothes pressed and delivered to them. You can take advantage of this to offer laundry services for people and make extra cash.

READ: How not to worry about money in retirement

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13. Online Marketing

Due to the emergence of different business enterprises which has stirred up competition for already existing businesses, much emphasis is now placed on marketing to source for leads. If you are skilled in the marketing game, you can make extra cash in addition to your 9-5 job by helping organizations maintain relevance in the business sector.

14. Running Part-time Jobs

If you wish to earn extra income along with your day job, you can pick up a night shift part-time job. The additional income can help you to sort your bills comfortably without worries. However, it would help if you considered the rigours of running two demanding jobs.


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15. Growing a Blog

If the thought of interacting and building an online community excites you, then you can consider growing a blog. Gaining visibility and earning through a blog takes time and requires consistency. However, the result is quite rewarding if you keep at it.

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With the evolution of technology, running a side business with your day job has been made possible. The goal is to build several streams of income to avoid financial worries. An extra income can go a long way to help increase your earnings and meet your needs. When considering an avenue to make extra cash, flexibility should be one of the determining factors.

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Personal Finance

Curfew: How to plan for a financial emergency

To ensure that you are prepared for a financial emergency, here are some basic decisions you have to take from the onset.



Top 5 businesses to start to embrace the "new normal"

Life has its ways of generating unforeseen emergencies that leave us stranded. You cannot exactly prepare for some of these incidences despite your dedication. However, unlike other emergencies, a financial emergency is something you can actually plan for and work towards. Hence, the question of how to plan for a financial emergency is very vital.

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The sudden declaration of curfew across several states in the country indicates that things could happen when you least expect. Traders who earn income from daily sales were the most affected; especially, the ones without laid down plans. Some white-collar workers too got a watered-down salary due to the situation, as the company made little or no profit.

READ: CAP Plc is running at a risk of increased bad debts

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However, to ensure that you are prepared for the next wave of sudden income blockage, some basic decisions you have to make from the onset are:

  1. Set up an emergency fund account: This is your most assured way of preparing for financial emergencies. It is non-negotiable. At every point, you should always have some money specially set aside for sorting bills in case of financial troubles. Although this seems like an obvious thing to do, in reality, most individuals do not have one. Financial experts recommend that the set-aside sum should be able to cater for at least 3 to 6 months of your basic expenses.
  2. Ensure you stay debt-free as much as possible: When financial difficulties kick in, what becomes a burden is the regular payment obligation you have to make. Remember, there are already basic non-negotiable expenses that you have to meet, and adding debts makes it much worse. If you are currently in debt, channel your resources to pay back in time. Also, focus on paying debts with the highest interest rate first.
  3. Slash down your expenses: As soon as the crisis kicks in, the first thing for you to do is to reevaluate. Run through your standard expenses and remove the wants. In a time like this, only the needs should stand. Keeping your expenses as low as possible would help you thrive better.

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Having understood how to prepare for financial emergencies, it is also critical that you understand how to deal with them. Preparation and dealing with the situation itself are two different things.

Here are some tips on how you can deal with the current financial situation:

  1. Be critical about every financial decision: Financial debacles are mentally stressful and could cause you to make poor decisions. This is why, at every moment, you should think properly before making any money decisions. Practicing this would greatly help you steady the ship. Ask yourself what long-term consequences would this have on my credit and finance? If disastrous, you know what to do.
  2. Explore other potential streams of income: One of the fastest and easiest ways to navigate financial emergencies is to explore other streams of income. What else can you do to make extra income that would help deal with the present situation? In real-time, looking for a side hustle while going through financial difficulties is not easy, but if you can pull it off, it would help a great deal.
  3. Talk to a financial advisor: Lastly, you can always visit a financial advisor for a professional view on your current crisis. However, this may be a little tricky because you would have to pay for their services. But the right person can help you get your finances in check from the very first day, as opposed to you trying to put things together by yourself.

READ: 7 Winning ways to become debt-free

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Emerging successfully from financial emergencies depends on how well you can prepare ahead, steady your ship, and navigate the terrain. The good news is that if you are one of those who planned early enough, you are less likely to stay long there than those who are unprepared. Remember that your goal should not be to learn how to deal with the difficulty as it comes, but rather focus on being prepared ahead.

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Personal Finance

How to own your first home debt-free in Lagos

If owning your own home debt-free in one of the most expensive cities in Nigeria is what you seek, then these tips will really help.



One of the natural desire for every human being is to advance their lives to the level where they can fund their own dream home. Yet only a few people ever achieve this goal. The majority of people do not achieve this goal. Not because they don’t want to. But because they lack a clear path to follow. So if owning your own home is your desire. And if owning this home debt-free in one of the most expensive cities in Nigeria is what you seek. Let me show you how it can be done.

There are two key factors to consider before owning your first home. These factors will determine how fast you own your home and whether you own it debt-free. The first factor is the purpose of your first home and the second factor is your mindset and approach.

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1. The Purpose of a First Home

The purpose of a first home will to a great extent affect how fast the goal of a first home is achieved. Different people attach different purposes to their first home. But if you want to achieve this goal debt free you must focus on achieving one goal at a time. The reason for this is simple. Your budget is limited at this point and you are most effective focusing on one goal at a time. Second, it is your first time and you are likely to make mistakes. Third the lesser the goal you try to achieve the sooner you ascend the homeownership ladder and own other homes. There are three kinds of homes to own if you approach your first home the right way. The first is the Starter Home also known as the First Home. The second is the Dream home also known as an aspirational Home. And the Third is the Income Producing real estate. Which can be commercial, residential, or mixed-use. While it is possible to try to achieve all three homes in your first home. It is a mistake to do so on a limited budget and when your experience is low. You will do a poor job at it and never truly achieve all three goals. The most effective purpose for a first home is to help you gain freedom from rent. Eliminating rental cost is a worthy goal to attach to your first home especially if you want to do it quickly. And move on to owning other more desirable homes.

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So now that you know the three kinds of home and the purpose to attach to your first home. Let look at the second factor that can affect your home ownership goals.

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2. The Home Owner Mindset

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There are two kinds of mindset and approaches to homeownership. The first is the last destination mindset and the second is the Progressive mindset. Recognizing where you belong is critical for success.

The Last destination mindset is the mindset that approaches their First home as if it is their last. They try to build all three homes in one usually on a limited budget. And they do a poor job at it. They do this because they are driven by emotion to impress. They set unrealistic targets, overbuild their homes, drain their finances, and sacrifice their financial security. The worse of all is that they build these houses in faraway neighborhoods with low-quality tenants, low rent-ability, and the ability to command premium price. The result is financial stress, buyer’s remorse, a strain on their health, and a depreciated lifestyle in retirement.  It is hard to make a good decision when the experience is low and emotion is high. The key to building a first home is to keep it simple. Focus on gaining freedom from rent, learn the lessons, and build other homes.

The Progressive Mindset approaches home ownership in a different way. They recognize that their first home is not their last home. And that their appetite and budget will change. They set realistic targets, build homes that meet immediate needs, and fund their homes from their hard work and discipline. The end result is financial peace of mind and the ability to move faster to other types of homes.

So whether you have the last destination mindset or the progressive mindset one thing is common to both parties. They struggle to fund their first homes out of pocket.

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How to Fund your First Home Out of Pocket

The major challenge facing those trying to own a home is how to fund their first home out of pocket. There are expensive and non-expensive options to choose from. One of the least expensive options is to fund the building of your own home from your own hard work and discipline. Taking a loan for a first home is not advisable as it limits your chances of ascending the homeownership ladder. The second reason is that anything you are doing for the first time will be first done poorly before it is done well. Doing trial and error on other people’s money increases your financial risk. Third funding your own home out of pocket keeps your budget within the limit. The temptation is to increase the budget when you have access to a loan. So if you are ready to fund your first home out of pocket let me show you exactly how you can achieve it.

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There are six things you need to do to fund your first home out of pocket successfully. The First is to move from a single income to multiple streams of income. The second is to build a solid cash Reserve for liquidity. The third is to protect yourself from emergencies. The fourth is to invest in the Right Land and Neighborhood. The fifth is to share the cost of construction. And the sixth is to use innovation to build easily rentable, and sellable homes. Below I explain each of these concepts in detail.

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1. Move from One Income to Multiple Streams of Income

A single Income is too weak to fund your homeownership dreams. Having multiple sources of income is the fastest way to achieve your goals. To create multiple streams of income there are three steps to follow. The first step is to combine a part-time income with your full-time income. The second step is to add a solid passive investment income and earn money in your sleep. The third is to have other human beings work for you. Moving from one income to multiple incomes takes deliberate actions. It also takes access to income-earning opportunities and the strategic effort to combine sources of income that can work together easily. To fund your dream home you must move from a single income to multiple incomes. If you need help achieving this migration send an email to [email protected]

2. Build a Solid Cash Reserve

Homeownership is a cash draining activity. Thus you must maintain liquidity throughout the process. The only way to do this is to build a solid cash reserve that can handle basic needs. Building a solid cash reserve entails two things. The first is earning more income and the second is managing the financial demands from your past life and present lifestyle. To own your own home out of pocket you must produce new income streams and keep a low maintenance lifestyle. You must also run an economically efficient household if you are married and bring everyone on board. Without this, it is hard to achieve success.

3. Protect yourself from Emergencies

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The majority of the things we call emergencies are created and not bestowed. There are created from our lack of timely decision and planning. So if you want to live an emergency free life you must plan ahead for likely emergencies. There are three things to do to an emergency that is likely to occur. The first thing is to prevent it. The second thing is to make provisions for it. And the third is to transfer it to a third party.

So what types of emergencies are the most likely to occur?

There are six emergencies to plan for if you must achieve your homeownership goal disruption-free. The first is the loss of Income. You can protect yourself from this emergency by building a solid cash reserve. The second is the Health Crises. No sick person can build a house. So maintaining positive health habits that keeping your health resilient and strong is critical. You must also make provisions for medical bills. The third is Car emergency. A major car breaks down will affect your productivity and concentration.  You must thus plan ahead for car emergencies and protect yourself with the right insurance vehicle. The Fourth is school Fees. School fees like rent is a major cost element that can interrupt your housing project. You must ensure that you keep your school appetite and budget within reasonable limits. Putting your children in schools that massage your ego but deprive you of your goals is not wise. It is the main reason why people end up becoming a burden in retirement. The fifth is rent. You must keep the cost of rent down and within reasonable limits. High rent and homeownership do not go well together. The sixth is Parental care. Parental care can be a major disruption if not planned for. They include parent’s upkeep, health care cost, and burial expenses. You must plan ahead for these costs and use the right insurance vehicle to transfer them.


Funding your first home with little or No emergencies is the key to quickly achieving your goals.

4. Choose the Right Land and Neighborhood

Buying an already built home or building and buying land at the same time is a difficult goal to achieve for most people. So the less difficult way to acquire the land first. And this is where acquiring the right land comes in. Acquiring the right land is all about investing in the right neighborhood. And there are certain factors that determine the kind of land you should buy. These factors are what I call the end goal factors and there are four of them.

The first is the Build and Live end goal. This is where you build your first home and live in it. If this is your goal buy land where you can live and be happy. The second is the Build, Live, and Rent end goal. This is where you build a multi-family home and live in one and rent the others out. If this is your goal you must buy land where you want to live and where other high-quality tenants also want to live. The third end goal is Build and Rent. This is where you build a house and rent it all out with the hopes that the rental income will pay for the rent where you live. If this is your end goal you must invest in neighborhoods that can attract high-quality tenants. The fourth end goal is to Build and Sell. This is where you build a house and sell it with the hopes of reinvesting the proceeds in a better location. If this is your goal you must invest in neighborhoods that can command premium sales price.

Your end goal and exit strategy are what determines the type of land you should buy.

But what if you cannot afford to buy the land where you want to live?

There are three things you can do. The first is to take the land banking Route. This is where you buy pieces of land in hopes that in time, it will go up in value. Perhaps because it is in a strategic location. Land banking may be appropriate for you if homeownership is not an immediate need.

The disadvantage of land banking though is that it is risky. It is risky because you are guessing that an event in the future will increase the value of the land. It is also risky because you cannot control the speed of appreciation of your property which may take 10-20years. Lands in developing areas are also the most difficult to sell. Land banking thus works if you are willing to tie up money for a long time. It works especially well when an area is in transition or carries a huge potential for future profit. Land banking and homeownership are thus are two separate paths.

The second option is to make more money fast and accumulate what you need to fund your own land investment. You can also leverage the installment payment offered by most land companies to make the investment easy for you. The third option is to combine resources with friends or people of like-minds and co-invest in a neighborhood you all want to live in.

Breaking down the homeownership goal into a land investment first before construction is the best way to own a home without breaking your back. You must also ensure to invest in neighborhoods that are desirable, livable, and rentable.

5. Share and Reduce the Cost of Construction

By default, everyone builds their own home with their own resources. But it is possible to share the burden with other people if you choose the land correctly.  Sharing the cost of construction can happen in two ways. First, it can be through a Joint venture between you and a developer. Where you contribute the land and the developer build the houses. Bringing in a developer as an investor and partner to build the house for an agreed reward is one of the most effective ways to build your first home. It brings in the capital you need plus the developer lends you his or her expertise.

The Second way to reduce or share the cost of construction is by partnering with friends or people of like minds. If your land is in a desirable location you create massive opportunities for partnerships both from ordinary people, developers, and investors. The key to success here is to answer this question. What kind of land do I need to buy that will attract investors or my friends to co-invest with me? And then focus on getting that land.

6. Build easily rentable and sellable homes

Building a home is more than just creating a box where people live. It is about using creativity to design eye-catching, and conversation-starting architecture that stands out. When you build a home that makes people stop and notice you get automatic referrals. And selling or renting that home becomes easy.  If your end goal is to sell or rent your home, you must use innovation to create something likable and distinctive. This is not to say you should spend a fortune on your first home. You can be creative without being foolishly expensive. The key to success here is to know what your target tenants and buyers want. And to know what they will pay a high price for. Unless you are sure a feature will add value to the sales price, there is no need for it. Building homes just for beauty and ego is a waste of money. Tenants and buyers will only invest in your home because they like them and not because you built what you like. Ask yourself the question. “What design elements could I innovate into my property that would make it more desirable and command premium than competing properties? With some concentrated effort, you can find the answer.

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Funding your first home out of pocket is simple but not easy. To succeed you must combine the elements of earning more income, investing in the right neighborhood, reducing the cost, and approaching it with the right mindset. If you need help achieving any of the steps highlighted in this article or need a homeownership mentor to guide you, we can help you. Send an email to [email protected]


Remembers it is better to be rent-free and loan free at the same time and not transfer your rent from a landlord to a Bank-lord.

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Personal Finance

What to consider as you budget for college

Managing the college budget squeeze is very important, and this article contains information that would help you do it.



College has become a non-negotiable level of education for this generation. Although it is possible to make a career without a college degree, however, those with a college degree have the edge over those who don’t. In most cases, a college degree is required for some top positions. Going to college is fun; who wouldn’t love to? But the fees are not affordable for many. Managing the college budget squeeze is very important, and this article contains information that would help you do it.

The fact is that college is expensive, and it keeps getting more expensive due to inadequate funding and economic situations. So many colleges or universities are already out of the reach of the common man. This is why you need to have a plan to go through, get your finances right from day one, and it would be easier for you than those who nosedived ignorantly.

Why should I budget for college?

It is generally known that the person who counts his costs before embarking on an expense is wise. You and your finance provider must answer important questions like: how much would it cost? Can we afford it? What’s our income compared to the expected expenditure? It is these questions that play a significant role in choosing a blend of the best and most affordable institution for you.

Although there are many reasons why people drop out of college, a majority is down to financial collapse. It can be more accurately captured as poor budgeting because it might not have led to dropping out if they thought the process through. However, there remain some exceptions.

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What are the important factors to consider in choosing a college?

There are numerous factors to be considered when choosing a college. However, we have narrowed the list to the most important ones. They are:

  1. The academic courses or majors available: The college you eventually settle for must have your course of study. This is pretty straight forward and non-negotiable. It would help if you chose from the available colleges with your course of study, and not let the college select your course. This is a very vital stage of your life, and should not be joked with.
  2. Affordability: After your course, this is the most crucial factor to consider. There are even instances where the importance of affordability supersedes individual preferences regarding the choice of study. If you cannot afford it or get a scholarship to pay for it, do not go for it. Most times, it leads to dropping out after piling up debts.
  3. Quality of education and campus facilities: For colleges, always go for the best that your money can afford. The quality of education of the college is paramount, and should not be looked over. It could give you an edge over individuals from colleges with lower standards.
  4. Location: Proximity from your home is also a factor to consider. How far is it? Do I always have to travel? And if yes, for how long? Schooling around your home is more convenient and less financially demanding because you can cut certain costs. These include campus rents, transportation, feeding, and more.

How do I budget for college?

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After choosing the right and most affordable college for you, here are some of the ways you can cut on some more expenses:

  1. Draw up your budget: Although this might sound generic, it is probably the most critical part of saving while in college. Always have a budget that is very realistic and guides you. Do this by creating a list of all your expenses on things that you would need in school. It would drive your spending and ensure that it is intentional and not a reckless spree.
  2. Cut out unnecessary expenses: The things that consume money the most are those which we do not need. Every single penny is important, and you have to cut down on the things that you do not need. Doing this could be difficult for students because of the number of attractions in college; however, you should learn to stay focused.
  3. Differentiate your needs from wants: This is actually what helps you in cutting down unnecessary expenses. Knowing what you need and what you want gives a sense of direction and makes you more aware of your spending.
  4. Always save: We know that the money is never enough, and there is an urge to fulfil that fetish desire at every moment. However, it is not a good reason not to save. Always ensure you save up some of your income for the rainy days. These days always come at one point or the other.

Going through college without enough fund requires the right amount of will and discipline. Many have done it before and would still do it. You are not the only one born without a silver spoon, but this doesn’t stop you from receiving a proper education. Stay committed, and in no time, your college days would be over.

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