In the United States, the median weekly wage is about $850 per week or $44,200 a year for those working a 40-hour work week, according to the Bureau of Labor Statistics.
Although that’s certainly not a salary to scoff at, unfortunately, 32 percent of workers say they have an unreasonable workload, and 41 percent feel they aren’t paid fairly for that amount of work, according to a study done by Workplace Trends.
But so often we’re told we have to work harder if we want to make more money.
Well, that’s not the case for everyone. Some entrepreneurs manage to find lucrative careers while working fewer hours than required in a typical office. Here, four of them share their stories on how they made over $75,000 a year without a full-time job.
1. Develop an online course
Online learning is becoming increasingly popular. According to a study by the Babson Survey Research Group, more than 6 million students are taking at least one distance course, 5 percent more than the previous year.
It was this demand and opportunity that inspired John Omar, creator of the blog Chain Operator, to develop an online course sharing the secrets of his cryptocurrency success.
“I created a course because I couldn’t find anything out there that explained how to trade cryptocurrencies,” said Omar. “Making it online meant I could reach more people with very little work.”
The course is a set of pre-recorded videos, which he charges $500 to access. The one-time effort of creating the digital lessons and platform now equates to an income of $50,000 a month, according to the entrepreneur.
“At most, I work five hours a week writing content for my blog, which drives new traffic to my website and course,” he said. “I generate passive income literally while I sleep.”
Although you may not be able to make five figures in one month like Omar, you can leverage your expertise to develop an online course of your own. Websites such as Udemy and Teachable make it simple to create one and charge a minimal fee.
Have a master’s in English? Start a writing course! Have you spent years working in finance? What about creating an investing 101 class? The options are limitless, and you can reap the benefits by doing very little work. Just keep in mind, the competition can be fierce since many web courses are so readily available online.
2. Take pictures
A selfie on your smartphone might not make you a lot of money (unless you’re Kim Kardashian), but honing your photography skills could lead to a high-paying, part-time job.
Mike Sansone, a headshot photographer in Chicago, quit his day job to focus on photography and now works fewer hours — while making more money — than he did full-time.
“In 2017, I broke the $75,000 mark, and this year I will make over six figures,” said Sansone. “And my day is super flexible. I’ll do some work in the morning, hang out with friends, make dinner, watch TV, and then do some work again. Some days I won’t work at all. It’s certainly not a desk job.”
Sansone never aspired to be a photographer and, instead, stumbled into it while in acting school. “I bought my first camera to make short movies,” he said. “A friend noticed and asked me if I would take his headshot. I learned more through personal coaching with famous photographer Peter Hurley, and now was eventually able to go out on my own.”
In addition to his part-time work, Sansone also keeps his overhead as low as possible. “I don’t have a car anymore, and my apartment is super tiny, and cheap,” he said. “If you live minimally for a few years, you eventually won’t have to anymore. That’s one of the important factors to working less and making more no matter what you decide to do.”
3. Create and sell digital graphics
If you find yourself doodling at work, that pastime could become your lucrative part-time career. Amy Stafford made up to $100,000 a year for the past several years selling digital graphics via her website and Etsy shop.
Graphic designers at companies and business owners look for pre-made illustrations to use in a larger design to save time, rather than creating it themselves. Stafford provides those “raw” materials and a variety of licensing options, which is how she makes her money without having to work a full-time job.
“This self-styled career has afforded me the freedom to travel, live, and work remotely while still making giant strides with my U.S. student loan debt,” said Stafford, who is now based primarily in Germany. “I happily paid off my last loan in February about five years ahead of my previous plan with my current flexible job.”
For those handy with graphic design software or a paintbrush, you could start selling your images online, like Stafford. There’s no requirement for how many graphics you have to deliver, so you set your hours.
But the more inventory you have, the more money you’ll likely make. Stafford, for example, has 168 purchasing options on her Etsy site that include “digital patterns,” templates for powerpoint, and papers for scrapbooking.
4. Consult on SEO for businesses
Having an online presence is imperative to almost any business. According to a study by Forbes Insights, 82 percent of customers will research products they want to buy online first. But a company’s website needs to come up as one of the top search engine results to get noticed by consumers. That’s where search engine optimization (SEO) comes in.
SEO is the process of growing the number and quality of people who visit your website through organic search traffic by strategically using keywords throughout the site. Doing that takes skill, one that Andrew Graham managed to turn into a part-time job, making over $125,000 a year.
“I can make six figures working about 25 hours per week as a freelance SEO consultant,” said Graham. “I even went traveling in Asia for nine months working just 15 hours a week.”
Graham was introduced to SEO as a career through a friend at a house party, and instantly saw the lifestyle advantages that this kind of job could provide. “I saw SEO as a tangible skill that would allow me to start an online business that can be run from really anywhere in the world, as long as you have a good internet connection,” he said.
At that time, Graham had just been laid off from a corporate sales job and was looking for something different; he was hired as a sales representative for an SEO company. That job allowed him to develop relationships in the industry and, after about 20 months working there full-time, he was able to quit and start his own business.
To break into the field, said Graham, you’ll have to study the landscape intensely, and it’s best if you have a marketing or computer degree. Bonus points to anyone who has created their own website before or has experience with WordPress. Having jobs with SEO companies on your resume also helps with securing clients, if you want to work for yourself later. “The more experience you have, the better,” said Graham.
In addition to having a lot of experience, you have to stay on top of trends. “Industry changes rapidly as the search engines further develop their algorithms. This does require you to put in a lot of effort to stay sharp,” he said. “But overall it’s an excellent field to make a great salary and have lifestyle freedom.”
All of these real-life stories began with taking a leap and trying something new. If you’re inspired to take on a new side hustle, find out how you can turn it into a lucrative career.
Interested in refinancing student loans?Here are the top 7 lenders of 2019!
|Lender||Variable APR||Eligible Degrees|
|Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.45% APR (with Auto Pay) to 6.99% APR (with Auto Pay). Variable rate loan rates range from 1.81% APR (with Auto Pay) to 6.49% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of November 6, 2019, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 11/06/2019. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at email@example.com, or call 888-601-2801 for more information on our student loan refinance product.
© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
2 Important Disclosures for SoFi.
3 Important Disclosures for Laurel Road.
Laurel Road Disclosures
Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. Mortgage lending is not offered in Puerto Rico. All loans are provided by KeyBank National Association.
ANNUAL PERCENTAGE RATE (“APR”)
There are no origination fees or prepayment penalties associated with the loan. Lender may assess a late fee if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less. A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.
For bachelor’s degrees and higher, up to 100% of outstanding private and federal student loans (minimum $5,000) are eligible for refinancing. If you are refinancing greater than $300,000 in student loan debt, Lender may refinance the loans into 2 or more new loans.
ELIGIBILITY & ELIGIBLE LOANS
Borrower, and Co-signer if applicable, must be a U.S. Citizen or Permanent Resident with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date or has no expiration date); state that they are of at least borrowing age in the state of residence at the time of application; and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements).
Graduates may refinance any unsubsidized or subsidized Federal or private student loan that was used exclusively for qualified higher education expenses (as defined in 26 USC Section 221) at an accredited U.S. undergraduate or graduate school. Any federal loans refinanced with Lender are private loans and do not have the same repayment options that federal loan program offers such as Income Based Repayment or Income Contingent Repayment.
All loans must be in grace or repayment status and cannot be in default. Borrower must have graduated or be enrolled in good standing in the final term preceding graduation from an accredited Title IV U.S. school and must be employed, or have an eligible offer of employment. Parents looking to refinance loans taken out on behalf of a child should refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for applicable terms and conditions.
For Associates Degrees: Only associates degrees earned in one of the following are eligible for refinancing: Cardiovascular Technologist (CVT); Dental Hygiene; Diagnostic Medical Sonography; EMT/Paramedics; Nuclear Technician; Nursing; Occupational Therapy Assistant; Pharmacy Technician; Physical Therapy Assistant; Radiation Therapy; Radiologic/MRI Technologist; Respiratory Therapy; or Surgical Technologist. To refinance an Associates degree, a borrower must also either be currently enrolled and in the final term of an associate degree program at a Title IV eligible school with an offer of employment in the same field in which they will receive an eligible associate degree OR have graduated from a school that is Title IV eligible with an eligible associate and have been employed, for a minimum of 12 months, in the same field of study of the associate degree earned.
The interest rate you are offered will depend on your credit profile, income, and total debt payments as well as your choice of fixed or variable and choice of term. For applicants who are currently medical or dental residents, your rate offer may also vary depending on whether you have secured employment for after residency.
The repayment of any refinanced student loan will commence (1) immediately after disbursement by us, or (2) after any grace or in-school deferment period, existing prior to refinancing and/or consolidation with us, has expired.
POSTPONING OR REDUCING PAYMENTS
After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for full or partial forbearance of payments for one or more 3-month time periods (not to exceed 12 months in the aggregate during the term of your loan), provided that we receive acceptable documentation (including updating documentation) of the nature and expected duration of the borrower’s economic hardship.
We may agree under certain circumstances to allow a borrower to make $100/month payments for a period of time immediately after loan disbursement if the borrower is employed full-time as an intern, resident, or similar postgraduate trainee at the time of loan disbursement. These payments may not be enough to cover all of the interest that accrues on the loan. Unpaid accrued interest will be added to your loan and monthly payments of principal and interest will begin when the post-graduate training program ends.
We may agree under certain circumstances to allow postponement (deferral) of monthly payments of principal and interest for a period of time immediately following loan disbursement (not to exceed 6 months after the borrower’s graduation with an eligible degree), if the borrower is an eligible student in the borrower’s final term at the time of loan disbursement or graduated less than 6 months before loan disbursement, and has accepted an offer of (or has already begun) full-time employment.
If Lender agrees (in its sole discretion) to postpone or reduce any monthly payment(s) for a period of time, interest on the loan will continue to accrue for each day principal is owed. Although the borrower might not be required to make payments during such a period, the borrower may continue to make payments during such a period. Making payments, or paying some of the interest, will reduce the total amount that will be required to be paid over the life of the loan. Interest not paid during any period when Lender has agreed to postpone or reduce any monthly payment will be added to the principal balance through capitalization (compounding) at the end of such a period, one month before the borrower is required to resume making regular monthly payments.
KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of November 8, 2019 and is subject to change.
4 Important Disclosures for Splash Financial.
Splash Financial Disclosures
Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers.
5 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 1.9299999999999997% effective October 10, 2019.
6 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised variable APR is only available for loan terms of 5 years and is reserved for applicants with FICO scores of at least 810.
As of 11/07/2019 student loan refinancing rates range from 1.90% to 8.65% Variable APR with AutoPay and 3.49% to 7.75% Fixed APR with AutoPay.
7 Important Disclosures for College Ave.
College Ave Disclosures
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
1College Ave Refi Education loans are not currently available to residents of Maine.
2All rates shown include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
3$5,000 is the minimum requirement to refinance. The maximum loan amount is $300,000 for those with medical, dental, pharmacy or veterinary doctorate degrees, and $150,000 for all other undergraduate or graduate degrees.
4This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 5.5% Annual Percentage Rate (“APR”): 120 monthly payments of $434.11 while in the repayment period, for a total amount of payments of $52,092.61. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 09/23/2019. Variable interest rates may increase after consummation.
|1.81% – 6.49%1||Undergrad & Graduate|
|2.31% – 7.36%2||Undergrad & Graduate|
|1.99% – 6.65%3||Undergrad & Graduate|
|2.43% – 7.60%4||Undergrad & Graduate|
|2.02% – 6.30%5||Undergrad & Graduate|
|1.90% – 8.65%6||Undergrad & Graduate|
|2.74% – 6.24%7||Undergrad & Graduate|