With the economy falling these days, everyone is looking ways to make some money, some being desperate and some even just for the sake of learning. Here is a good way to make some extra money at home with what you know.

If you’re good academically, you can try to start up little extra classes for local children in your neighbourhood. You can charge them at per subjects, per hourly basis or even a package of complete course from school.

For example, a one and a half hour, twice a week lesson of mathematics can be charged at $5 per sessions and that make $10 a week: $40 a month. But wait, you can have more than one students in one class and so, the multiplier goes up to $400 a month if you have 10 students with you. Always remember to set-up an appropriate study guide as to what you will be teaching over the course. Also always make sure to be in check with the current syllabus the school is having.

Let’s do some more calculations: Let’s say, after work, you have 4 hours before your bed time. and that means approximately 2 classes of, let’s say, 10 students each. add that all up and you’ll total $800, extra cash per month!

Some preparations:

  • A room with tables and chairs( be flexible and creative with the space you have, more space, more students)
  • A whiteboard and marker pens for you to explain questions ( use a variety of colors as it help with remembering)
  • Some practice guidebooks from your local bookstore( For the children to practice)
  • You may also provide pen and papers for them

Or you can always teach other subjects beside academic, piano, guitar, drums and many other on-hand technical skills such as writing can be changed into a money making “skill” =)

And lastly, always have the passion to help the kids.

Happy teaching~!

But some of you might be yelling, “Wait!!! I’m not that good academically! What else can i do?

Here are some more ideas:

If you’re good at a certain sport, you can always offer to coach at a fee. It could be football, baseball, body building, so on and so forth. Normally it depends on each individual’s type of personality; some prefer coaching individually, while some prefer to coach an entire team (maybe from the local school)

Or if you’re good at reading a financial paper, you can always provide some financial consulting for your local neighbourhood, but it is important that you keep all information discreet. Be professional.

And what if you’re good at selling but you don’t want to waste the time knocking door to door?

Start a home-based miniature grocery store, by providing your neighbourhood with supplies, you may imply a little profit into it. Remember, although your profit maybe small, but a large volume of sales will rack in a large amount of money. Actually, this is not much of selling, but by providing your neighbourhood with the service of getting the groceries beforehand. Be creative.

Or, we can always go back to the most original extra cash technique, the lemonade stall, but instead, let’s modify it and we’ll use your dining room as a change. If you can cook pretty well, you can always provide meals for dining in or take-aways. This is one of the famous local style over at my hometown.

An entire family, begins cooking at 10 am, and prepares food for more than 10-20 families. They will prepare the food and pack them up ready and most will be delivered by 11.30am so busy families will reach home and get their food by the door-step at lunch time(be creative). the same goes for dinner when most food is prepared by 4.30pm and should reach everyone by 7.00 pm, the latest.

You can try to do some calculations:

Let’s say, you charge each family at $100 per month, preparing for 10 families would bring in $1000 gross profit. Do some market research on the local grocery stores for your grocery prices, do a little plus minus, you should be able to bring in more than $500 per month, extra. Also, remember to be flexible with your menu so that you can capture a large variety of market. Be sure to respect everyone’s ethnicity and you should be just fine.

PS: It’s ideas that sells, not just the product. So be creative.