Extra Income In South Africa: A Comprehensive Guide

What is a side job?

A side job, also known as a side hustle or part-time job, is extra work people do alongside their main job to earn more money or pursue a passion. It can be freelancing, part-time work, gig work, or a small business on the side. People take on side jobs to boost income, follow hobbies, gain experience, or diversify their earnings. Common examples include freelance work, tutoring, driving for ride-sharing services, or selling crafts online. However, it's essential to consider tax and legal aspects when engaging in side jobs.

Top ideas of extra income in South Africa

Write and Publish Ebooks

Writing books and getting them published used to be hard. Not anymore. You can write novels and publish them free on platforms like Kindle and Smashwords. While there is a lot of competition, there are several self-publishing success stories that are making hundreds of thousands of euro per year this way! If you don’t like writing or have the time to do it, you can even hire a freelancer to write your story on your behalf.

Game On Twitch

Twitch is mainly for gamers, but if you’re great at any game (or fun to watch while you play them!) you can make a good living off this platform too. There is a lot of competition on Twitch though, so you really will need to stand out from the crowd if you want to turn this into an earning opportunity.

Start a YouTube Channel

If you have a hobby or interest, and you’re willing to talk about it on camera, you can be a YouTuber. There are people doing everything from makeup tutorials to game reviews on YouTube, monetizing their channels, and making a living off it! Some have even gone on to turn their talent (whether it’s cooking or singing) into a mainstream career after starting out on YouTube! Many of the biggest names on YouTube make millions of dollars a year – and while it takes time and effort to get there, it’s possible to start with nothing and still make a full time living off this.

Use Your Professional Skills

If you have a job doing something like bookkeeping or graphic design, you can offer those services after hours as a freelancer too. In fact, many people who turn their day job into a side hustle eventually find they can become their own boss full time. You might be able to use skills you picked up in other jobs too or turn an existing hobby into a money maker.

Offer Tutoring Services

If you’re great at math or science, you can offer your service as a tutor for kids in your area. You can even do this online if you like, provided you have a reliable internet connection. There are also sites like Skooli.com where you can sign up to work on their platform.

Deliver Food

There are all kinds of delivery apps like Door Dash, SkiptheDishes and UberEats that hire people as delivery drivers. While this might not be the answer to how to make an extra 1000 a month, it will give you some pocket money. You can also choose when you want to work and how many deliveries you want to do. Bear in mind, however, that in many cases, you will need to purchase your heat bags yourself, before you can start earning.

Start a Blog

If you have an interest in something that other people want to read about, you can create a blog. Before you ask how to make extra money by writing blog posts, the answer is advertising and affiliate programs. If you can get enough people to read your blog, you can use both to make a decent amount every month.

Stock Trading on Roboforex

RoboForex Review

Open an account

Your capital is at risk.

Stock trading is not a short term or quick way to make extra money – at least not at first. But if you have some extra cash to invest, you can make around 10% in profit every year without doing anything. RoboForex offers its clients the opportunity to invest in stocks and ETFs through its proprietary innovative trading platform - R StocksTrader. I R StocksTrader is an account for trading real stocks on the stock market. The minimum deposit is $100; the number of available assets is more than 12,000. There are specific fees based on the number of shares in a trade.

As you can see from this list, there are many ways to make extra money in 2023, and this list only just scratches the surface.

Copy Trading

IC Markets Review

Open an account

Your capital is at risk.
Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.

Then, there is copy trading. This is an easy to use way to copy trading transactions easily online. You don’t need to know much about how trading works to get started, and you don’t have to spend a lot when you’re starting out. Some of the best copy trading platforms are:

• IC Markets - offers additional copy trading services in partnership with Autotrade, MyFxBook, and ZuluTrade.

• RoboForex is the best according to the reviews of Traders Union users (for non us users)

This kind of trading allows you to identify top traders and simply copy what they do. So, you don’t have to learn too much about how it all works before you start earning from your trades.

Become a Freelance Writer

There are lots of writing sites out there, and while many don’t take beginners, there are some like iWriter and Upwork that are open to everyone. You do have to be a reasonably good writer for this, but you can make some easy spare cash in your downtime. If you’re not a great writer in English but you know another language, you can also find a lot of work as a translator.

What is the best way to make extra money online?

The best way to make extra money online depends on factors like your risk tolerance, financial goals, and available time. According to TU analysts, one of the best ways to make extra income is through copy trading. It's like copying the moves of experienced investors, so you don't need to be an expert or have to watch the market actively. With a small amount of money, you can follow successful traders automatically, and you can also learn from them. While it's not risk-free, copy trading can be a simpler way for beginners to make extra money online in SA.

Is it possible to earn an extra $1,000 per month in South Africa?

Absolutely, making an extra $1,000 monthly in South Africa is very possible. but it depends on your skills, resources, and the time you can invest. Look for gigs involving writing, graphic design, or any other professional skill you may have on websites like Upwork or Fiverr. Consider other options too, like tutoring, starting a YouTube channel, or a blog. Diversifying your income streams will give you an advantage and set you on a quicker path to making an extra $1000 per month in South Africa.

How to start a side hustle in South Africa

Starting a side business can be a scary idea. Before you get the ball rolling with your side hustle, there are some tips highlighted by TU experts you’ll need to consider.

1. Choose a side hustle that matches your skills and interests: Consider your skills, hobbies, and interests. What are you good at? What do you enjoy doing? Identifying these will help you find a side hustle that aligns with your strengths and passions.

2. Determine your time commitment: Know how much time you can realistically dedicate to your side hustle. Consider your current job, family commitments, and personal activities. Understanding this will help you set realistic expectations for your side hustle and avoid overcommitting.

3. Make a business plan: Develop a simple business plan that outlines your side hustle's goals, target market, marketing strategy, financial projections, and operational plan. A well-thought-out business plan will serve as a roadmap, helping you stay focused and organized as you launch and grow your side hustle.

4. Build an online presence: In today's digital age, having an online presence is crucial for any business, including side hustles. Create a professional website or utilize social media platforms to showcase your products or services. Use online tools and platforms to reach a broader audience and market your side hustle effectively.