Who doesn’t want additional cash? It’s one way of boosting your finances. With that extra money, there’s more for shopping, dining out and splurging. There are so many things you can do with the extra cash.
But did you know that that additional income can help you get a more attractive home loan?
Yes, with a stated income home loan, the bigger your revenue the better mortgage you get.
Unlike conventional financing, stated-income loans allow you to purchase or refinance a mortgage without the need for income verification. You just state how much money you make and the lender will take your word for it. They’ll only verify your assets and bank statements to see if you have enough to repay the loan.
Extra Money At the End Of Your Fingertips
In this case, you need to grab any opportunity to make more money than you’re currently earning.
Thankfully, there’s this one platform that makes moneymaking a lot easier, and it’s right at your fingertips — the internet.
Nowadays, it is possible to earn big money online. You no longer have to leave the comforts of your home. You can even do your online job during your office breaks.
Whether you do it on your free time or you devout a couple of hours in a day to sit and work on it, it’s completely up to you.
Here’re four creative ways to generate extra money online.
Monetize your Hobbies and Talents
Do you have a hidden talent? Are there things you are passionate about? If you have a myriad of unused skill set, sell it online!
There are numerous freelancing websites for different people with all sorts of talents. From writing articles to voice over stints, you can sell these talents and make a couple of extra bucks.
There are online websites that create a marketplace for freelance moonlighters who have a couple of hours to spare in a week. Your paycheck will vary depending on the skills, experience and time you can offer. This is a great avenue for professionals who refuse to rely on their primary job as their sole source of income.
Sell Your Photos
If you’re into photography as a hobby, it’s time you turn that into a money-making sideline.
You can upload your photos, illustrations, and video on artwork stock sites. You can become a contributor to such sites and earn money every time someone pays and downloads your creations for them to use.
Don’t let that camera collect dust. Start snapping beautiful shots, upload ’em and see the money roll in.
Teach Classes Online
Some people who can’t attend classroom lectures opt to take distant-learning courses. Specific websites hire course instructors to teach these people through Skype sessions.
If you have an extensive background in teaching or you have some kind of a specialized skill, you may potentially earn a lot by becoming a course instructor. Online course websites will be willing to pay you good money for your time and service.
If you have the passion for teaching, this can be a thriving and enjoyable part-time job for you.
Be a Part-time Virtual Secretary
This is one of the most popular online freelancing jobs. There are plenty of clients seeking for virtual assistants who can help them get their day’s task organized.
There are sites where you can sign in and wait for job postings from potential clients. Your rate will vary depending on the type of task and the time you can offer. You may become the virtual secretary of the next Steve Jobs, you’ll never know!
Adequate income and financial assets open up doors to greater opportunities for housing and personal stability. It’s important in applying a home financing. Homebuyers with adequate funds and stable income sources will most likely get a more favorable mortgage, all other things equal.