Ways to Create More Income for Fresh Graduates
Wondering how to create more income? Spare a few minutes to read this article for more information.
Let’s kickstart with a hot topic that you would be interested in — “Ways to Create More Income for Fresh Graduates” from my own experience during coronavirus.
1. Online Tutoring Classes
Online tutoring classes are one of the most prevalent ways to increase income for fresh graduates. It is worthwhile to make use of your study notes from your high school, college or university for earning extra income apart from your first full-time job.
Most people may throw their study notes away after passing public exams or finishing their degree studies, but I would strongly recommend you NOT to do so. You may consider keeping your handwritten or hard-copy notes in electronic versions to save up space at your home. In this way, you can throw away all your notes at home without losing them forever. After all, those notes were your hardworking effort. Why not make good use of them as your tutorial teaching materials?
Thanks to the coronavirus, you can even offer online classes to students, instead of face-to-face teaching. It saves commuting time and brings more convenience to your after-work tutorial classes. What’s more, online tutoring classes can be held 24/7 everywhere with your laptop/smartphone on!
Since daily school operations are suspended due to coronavirus, most students have found difficulties in their learning. There is a rise in demand for online tutoring classes. As long as you have above-average academic results or particular skillsets, you can become a tutor teaching your students online!
By far, I am working online private tutoring as my side business and I found it rewarding. You do not only educate students to be better people but also increase your sources of income! As the Chinese proverb says, offering online tutoring classes is “a stone killing two birds”!
2. Invest in REITs as interest-earning stocks
Most fresh graduates will start their habits of investing their earnings from work to stocks. It is also no exception for me. Having browsed various websites looking for investment tips, I found that investing in a real estate investment trust (REIT) can be a stable yet strong type of stock for investment.
According to the definition from Investopedia, Real Estate Investment Trust (REIT) is a company that owns, operates or finances income-generating real estate. REITs invest in most real estate property types, including apartment buildings, cell towers, data centres, hotels, medical facilities, offices, retail centres, warehouses, etc.
Advantages of investing in REITs
1. REITs generate an attractive and steady income flow for investors by stock price appreciation and above-average dividend yields compared to other stocks
2. REITs are publicly-traded like stocks, offering higher liquidity and transparency
3. REITs offer diversification from the stock market
Disadvantages of investing in REITs
1. Sensitivity to changes in interest rates
2. Face property-specific risks such as tenant move-outs
3. Risks of using too much debt financing
Rather than placing bets on stocks from hearsay, I would prefer REITs as a relatively less risky yet stable income-generating investment.
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