Set Up Your Second, Secret Income

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Posted by The Savvy Retiree on November 11, 2016 in Money Saving Strategies, Personal Finances

Jan Davis writing on second incomes…

Career options and work environments have changed since you were younger. Work beliefs that were drilled into your head aren’t today’s reality. Maybe you had creative dreams back in the day, but were told to follow reality and get a “real job”. And now here you are – through no fault of your own – stuck on the treadmill of work and debt.

But here’s today’s financial, career, and work environment reality…

And it’s great news for you.

If you’ve ever had a creative hobby or passion, the internet can help you make money from home. Whether your passion is woodworking, sewing, digital arts, or music the opportunities for the successful online hobbyist are huge.

And if that isn’t rejuvenating in itself, you need little no technical skills to get moving. You can sell in marketplaces like Amazon, eBay or Etsy. Your shop is inside a virtual mall.

If you’re thinking there’s no money in crafting and selling online, think again. According to the U.S. Bureau of Statistics, the median pay for a crafter or artist is about $45,000 a year.  In 2015, the top 10 Etsy shops made more than $220,000 in sales each. Their sales included candy, charms, jewelry, and metal work.

With a second income like this, you could make money doing something you love…stay in your job as you build up your income…and set yourself up for an independent, boss-free lifestyle.

Two types of products sold online are physical and digital. Physical products include anything you can touch, such as a music CD or a birdhouse. A digital product is something that isn’t tangible…e-books, digital music downloads, or plans for building a bird house. The product is emailed to the customer or the customer downloads it. You can sell it over and over again.

And of course, you can sell both physical and digital products online in the same shop. For instance, you could sell finished birdhouse, which you mail to customers upon purchasing. And you could sell the plans for the same birdhouses, which customers would download.

You’ve just created two income sources from the same creative project.

Without building your own website, you can sell your goods in a marketplace like Amazon, eBay or Etsy. Or you can set up your own site with the help of a website builder. Craft friendly website builders include places like Big Cartel, Weebly, and Shopify.

Marketplaces have an existing community of buyers, which you can tap into, and your shop includes everything from set up to payment. You can start small for a very low cost. You don’t own your website, just the products inside.

If you want your own website, the website builders offer you a choice of your own domain or a subdomain on the website builder. You get to choose the look of your store from pre-designed templates and you get technical and community support.

Maybe it’s times to share your creative outlet with others. You could put some extra cash in your pocket.

Editor’s note: Jan Davis hosts the website Everyday Homesteading.

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