Thinking about buying a horse? While it’s an exciting move, it’s also quite an investment. The average cost of a horse can range from a few hundred dollars to over $50,000, sometimes even more depending on the type of horse you’re buying. Using a horse loan, also called equine financing, can help make this purchase more manageable.
Read on to learn what you need to know about getting a horse loan so you can make an informed decision when welcoming a new horse into your family.
Key Points
• Personal loans are a flexible option for financing horse purchases, offering secured or unsecured options with fixed or variable interest rates.
• Borrowing amounts for horse loans typically range from $1,000 to $100,000, depending on credit score and lender requirements.
• Repayment terms for horse loans generally vary between two to seven years.
• Before committing to a loan, make sure you understand additional costs such as interest, and potential origination fees and late fees.
• Alternative financing options include using savings, renting a horse, sharing ownership, or using a credit card with a 0% introductory APR.
Can You Get a Personal Loan for a Horse?
Personal loans offer a flexible way to borrow money for big ticket items, like paying off high-interest debt, completing a home renovation, or even buying a horse. You can find a personal loan through banks, credit unions, and online lenders.
When you get a personal loan, you receive a lump sum of money and then pay it back in monthly installments, which include interest. There are different types of personal loans. Here are some common ones:
• Secured and unsecured loans: Secured loans are backed by something valuable, like your home or car, while unsecured loans aren’t tied to any assets.
• Fixed-rate and variable-rate loans: Fixed-rate loans have an interest rate that stays the same, while variable-rate loans have an interest rate that can go up or down based on changes in the market.
• Single borrower vs. cosigner loans: With some loans, just one person is responsible for payments. But others allow a cosigner, or someone who agrees to help with payments if needed.
Pros and Cons of a Personal Loan for a Horse
To help you decide if a personal loan is a good option to finance your horse, it’s helpful to look at both the pros and cons.
Pros:
• Personal loans usually have lower interest rates than credit cards. For example, the average rate on a personal loan is around 12.40%, as of October 2024. Meanwhile, the average interest rate on credit cards is closer to 21.76%. This means that unless you qualify for a 0% introductory APR on a credit card, using a personal loan might save you money on interest in the long run.
• You don’t have to touch your savings. A good rule of thumb is to keep three to six months of income saved for emergencies. If buying a horse empties your savings, you could be in a tough spot if an unexpected expense comes up. A personal loan lets you keep your savings safe while still making your purchase.
• Wide range of lending requirements. Since each lender has its own criteria, some may approve a personal loan even if your credit score isn’t the best.
Cons:
• Your debt-to-income ratio will likely go up. Taking on more debt changes the balance between your income and what you owe. Lenders use this debt-to-income ratio (DTI) to decide on your loan approval and interest rate. Most lenders look for a ratio under 36%, so if you make $5,000 a month, your monthly debt should be under $1,800. Some lenders are more flexible, but staying within this limit could improve your chances of getting a competitive rate and terms.
• You’re taking on additional debt. Buying a horse is a major purchase, so make sure you’re able to repay any money you borrow.
• Missing or late payments may harm your credit score. Lenders may report late or missing payments to credit bureaus, and this could make your credit score drop. You may also have to pay a late fee, which can add to your costs — especially if it happens more than once.
• What can you afford to pay each month? (A personal loan calculator can help you determine potential monthly payment amounts based on interest rates and terms.)
• How long do you need to pay it back?
Once you have a good idea of what you’re looking for, it’s wise to check your credit score since lenders use it to decide if you qualify. You can get a free copy of your credit report once a week from the major credit bureaus — Equifax, Experian, and TransUnion — at AnnualCreditReport.com. Take a look to make sure everything is accurate, and address any errors you see.
Ready to apply for your equestrian loan? See which lenders offer prequalification, which will give you an idea of the rates and terms you could qualify for before applying. To prequalify, you’ll typically need to provide basic information like your ID, address, income, and employment status.
Each lender has different requirements, so prequalifying with a few different lenders could help you find the best rates and terms. Once you choose a lender, they’ll guide you through the application process. They’ll likely do a hard credit check at this point, which may lower your credit score slightly, but this is usually only temporary.
Once you’re approved, the lender will ask you to sign a loan agreement. If you have any questions, make sure to speak with your lender.
Bringing your new pony home is a great feeling, but it also means it’s time to start repaying your loan. To streamline the process, here are a few strategies to help you repay the amount you borrowed.
Make a Budget
Setting a budget helps you see where your money is going and how much you’ll have left after each loan payment. Budgeting apps can make this easier by tracking your spending, setting limits, and even creating savings goals.
Set Up Autopay
To ensure you never miss a payment, consider setting up autopay. This way, your loan payment is automatically taken out of your account each month without any extra effort. Some lenders even offer discounts for using autopay.
Combine Your Debts
If you have multiple loans or debts, you might consider combining them into a single loan. This is called debt consolidation, and it involves taking out a separate loan to pay off your debt balances. Consolidating your debt can make paying down debt more manageable.
Make Extra Payments
If you want to pay off your loan faster, you could try making extra payments or switching to biweekly payments. By paying off your loan early, you can potentially save money on interest. But check with your lender to see if there’s a fee for early payoff.
Alternative Financing Options
Horse loans aren’t the only way to finance your purchase. Here are a few other options to consider:
Savings
If you can wait a bit before buying a horse, saving up for this big purchase can be a smart move. First, decide how much you’ll need, then set a timeline for reaching that goal. You may also want to consider setting up automatic transfers, which can help you put your savings on autopilot.
Keeping your money in a separate account, like a high-yield savings account, can also help it grow over time. Just keep in mind that once you have the horse, you’ll still need a budget for ongoing care and maintenance.
Horse Rental
Buying a horse comes with extra costs for things like care, food, and shelter. If you’re not ready for these ongoing expenses, renting a horse could be a better option. This way, you can enjoy riding without the full commitment.
Sharing Ownership
You could also consider sharing ownership with someone you trust and splitting the cost of the purchase and ongoing care of the horse. However, keep in mind that if the co-owner decides to back out of the arrangement, you might be responsible for all the expenses yourself, which could be financially burdensome.
Credit Card
Using a credit card to buy a horse might work if you have a high enough credit limit. But keep in mind, credit cards usually come with high interest rates, so if you can’t pay off the full balance right away, you could end up paying more in interest than with other financing options.
However, if you have good credit, some credit cards offer a 0% introductory APR. This lets you avoid interest — provided you pay off the balance before the introductory period ends. If you can’t pay it off by then, you may face a higher interest rate.
Other Factors to Consider Prior to Buying a Horse
Buying a horse is only the beginning of the costs involved. Depending on where you live, your horse’s needs, and other factors, caring for a horse can average between $8,600 to $26,000 per year.
For starters, horses need regular vet visits, a place to live, food, and lots of daily care. So before buying a four-legged friend, make sure you know your horse’s health history, and you have a reasonable budget set aside for yearly expenses.
Here are a few other important things to keep in mind:
• Lifespan: Horses usually live between 25 and 30 years. Owning one is a long-term commitment that should be carefully considered.
• Time: Horses need plenty of attention each day. If you’re short on time, you might have to hire someone to help care for your horse.
• Training and equipment: Horses need plenty of exercise, which requires pricey equipment like saddles, blankets, bridles, and lead lines.
• Transportation: If you plan to show or travel with your pony, remember that you’ll need a way to transport them, which adds to your ownership costs.
The Takeaway
Taking out a horse loan can be a smart way to finance a new pony. But before signing a loan agreement, it’s important to understand how equine financing works and to compare your options. Also, keep in mind the ongoing costs of horse ownership.
Think twice before turning to high-interest credit cards. Consider a SoFi personal loan instead. SoFi offers competitive fixed rates and same-day funding. Checking your rate takes just a minute.
SoFi’s Personal Loan was named NerdWallet’s 2024 winner for Best Personal Loan overall.
FAQ
How much can I borrow with a personal loan for a horse?
The amount you can borrow for a horse loan depends on factors like your credit score, your lender, and other financial details like your income. Personal loan amounts usually range from $1,000 to $100,000. Before applying, figure out what you can afford and what you’re likely to qualify for.
What is the typical repayment period for a horse loan?
Repayment terms vary by lender, but you can generally find personal loans with terms between two and seven years. Keep in mind that while longer terms may make the monthly payment more affordable, you may end up paying more in interest than you would with a shorter loan term.
Are there any additional costs associated with a horse loan?
Besides interest, some lenders charge extra fees, like an origination fee, which is usually a percentage of your total loan amount. Lenders might also charge a late fee if you miss a payment, so check with your lender to understand all potential fees.
Photo credit: iStock/AzmanJaka SoFi Loan Products
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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
While it only takes a moment to swipe or tap a debit card when making a purchase, debit card refunds are not as fast: They typically take between one and 10 business days or even longer.
Debit card refunds can be a common occurrence: Perhaps you used your card to buy laundry detergent but you bought the wrong variety. Or maybe you purchased an item online that arrived damaged.
There are a number of different factors that impact how debit card refunds work. Understanding the debit card refund process can help you know what to expect, and most importantly, when to expect the money to go back into your bank account.
Key Points
• A refund on a debit card typically takes one to 10 business days, influenced by merchant and bank processing times.
• Accurate information expedites refunds; incorrect details can cause delays or processing issues.
• Delays can occur due to merchant processing, incorrect information, and technical difficulties.
• Contact the merchant first if a refund is delayed, then check with your bank.
• International debit card refunds can take longer due to multiple processing networks and potential fraud checks.
Understanding the Debit Card Refund Process
One important debit card fact is that refunds don’t usually go through instantly, despite how quick purchase transactions can be with these cards. If you expect the money to be credited to your account immediately (as it could be with a cash refund), you may be disappointed. And depending on how you are managing your cash flow, you could risk overdraft fees if you expect the funds to quickly land back in your bank account.
The most important thing to understand is that your financial institution (whether you do online banking or the traditional kind) cannot issue an immediate refund to your account. Instead, they must wait for the merchant to initiate the refund. Generally, once you request a refund, the merchant will approve it, and then they will alert their bank to issue a refund to your bank.
Each one of these steps can take a few business days, which is why the overall debit card refund process can take up to 10 business days or longer.
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Factors Affecting Refund Processing Time
There are several factors that can affect how long it takes for a refund on a debit card to arrive at your checking account.
• Merchant delays: Depending on how you request your refund and which merchant is processing the refund, it may take a couple of business days for your refund to even be initiated. There may also be delays in the processing between the merchant’s bank and your bank.
• Debit card processing: Your debit card processing network (such as Visa or Mastercard) will have its own schedule and system for refunds. This could potentially slow down your refund. There also could be a slowdown with the merchant’s network.
• Incorrect information: One of the biggest factors that can delay your debit card refund is if you provide incorrect information to the merchant. Make sure that your refund request has your proper name and bank account details to facilitate a prompt refund.
• Technical difficulties: There could be technical delays or difficulties. For instance, there might be an abnormally large number of refund requests at a given time. This can increase debit card refund processing time.
• Payment authorization: It’s important to understand that when you make a purchase, it may take a few business days for the merchant to actually receive your money. If you make a refund request before the merchant has obtained your money, your refund will likely have to wait until after that initial charge has been posted.
• Fraud checks: A refund request for an unusually large charge may be delayed while the bank checks to make sure that both the charge and the refund request are valid and not a kind of bank fraud. This process can also affect international debit card refund requests, which may take a bit longer than domestic refunds.
Understanding these forces can help explain how long a debit card refund takes to be completed.
Here are a few ways you may be able to speed up a debit card refund:
• Be accurate. One of the most important things that you can do to expedite your debit card refund is to provide accurate information to the merchant when you request the refund. This may include your name, address, contact information as well as your bank account routing and account information. If you provide incorrect information, that can delay your refund or even cause the merchant to not be able to process your refund.
• Follow up. If several business days have passed and you have not received an expected refund, a good next step can be to check in with the merchant again and request information on where the transaction stands. You may be able to track the status of your refund request online, or you may have to call the merchant directly.
• Check with your bank. If the merchant says that your refund has been processed but you still haven’t seen it post to your account, contact your financial institution to see if they can track the status of your refund. They may help move the transaction forward; they might contact the payment processor for details on the debit card refund’s status.
By following this sequence of steps, you may be able to speed up a debit card refund.
What to Do If Your Refund Is Delayed
As noted above, if your refund is delayed, the first step is to reach out to the merchant. They may be able to verify your refund information and update your refund status. You can also reach out to your bank to see if they can track your debit card refund.
It’s also good to understand that international debit card refunds can take longer still than domestic, due to cross-border processing times.
Though delays in debit card refunds can undoubtedly be frustrating, know that sometimes security measures are the root of the slowdown. The silver lining is that your personal finances are being protected as your refund makes its way back to you.
The time frame for how long a debit card refund takes is usually anywhere from one to 10 business days, depending on a number of factors. These include the amount of time it takes for the merchant to process the refund and for both your bank and the merchant’s bank to move the money. There can also be delays due to technical issues and a high volume of transactions. If it’s been several business days and you haven’t seen an expected refund, first check with the merchant. If you don’t get a satisfactory response, check with your bank to see if they can track and expedite your debit card refund.
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FAQ
Do credit card refunds process faster than debit card refunds?
No, actually credit card refunds usually take longer to process than returns with cash or debit cards. They typically take between five and 14 business days, versus one to 10 for a debit card refund. However, purchases that you make with a credit card may afford you more protections (such as protection against unauthorized charges) than those made with debit cards.
Can I track my debit card refund status?
It can sometimes be difficult to accurately track the status of your debit card refund. You may be able to track your refund on the merchant’s website (if they provide that service). However, that may only show when the merchant authorized the return. Another option would be to look at your online banking account or talk to your bank’s customer service department. If your debit card refund is delayed, you might reach out to the merchant and then your bank for updates.
How do international refunds differ from domestic ones?
International debit card refunds work in a similar fashion to domestic debit card refunds and may take the same amount of time: up to 10 business days. However, they may take considerably longer; international banking transactions may have to route through multiple processing networks. Additionally, some banks may flag international debit card refunds as potentially fraudulent, leading to further delays as they ascertain if they are valid.
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Thanks to the convenience of direct deposit, many people never even glance at — much less analyze — their pay stubs or paychecks anymore.
But reviewing the information on your pay slip, which serves as a receipt for the wages you receive each pay period, is more important than you might think. It can help you monitor your retirement savings, for example, and the other employee benefits you’re receiving. It also can allow you to track how much you’re paying in taxes. And if you know how to read a pay stub, you might even spot errors that could cost you money or cause some headaches if they aren’t fixed right away.
Knowing the details of where your wages can be an important part of successfully managing your money.
Key Points
• Pay stubs include essential information like earnings, deductions, and employer contributions, all important for financial planning.
• Regularly reviewing pay stubs can help you identify errors and track benefits and deductions.
• Understanding payroll deductions, both pre- and post-tax, can aid in budgeting and tax planning.
• Understanding employer contributions to benefits and taxes is crucial for evaluating compensation packages.
• Pay stubs may provide additional information, such as paid leave time and loan repayment status.
The Basic Components of a Pay Stub
Federal law doesn’t require that pay stubs be distributed. State laws, however, require pay stubs in 41 states, with different guidelines for the contents. Not only can the details shared about one’s pay and how it’s organized can vary significantly from one state to the next, it may well shift from one employer to the next. Some pay stubs and paychecks have much more streamlined details than others. But some of the basic elements you can probably expect to find on your pay slip include:
• Identifying information about your employer
• Identifying information about you
• The start and end dates of the current pay period
• Information about your earnings
• Information about taxes and deductions from your pay
• Employer-paid taxes
• Employer-paid benefits
This information is important for accurate recordkeeping for you and your employer.
The personal information and pay period details section of your pay stub is typically where the most basic intel can be found, including your Social Security number, tax-filing status, and federal, state, and local withholding allowances.
If you have direct deposit, you also might see the routing and account number for the checking and/or savings account you use for that.
Why It Matters: The top section of your pay stub is probably the easiest portion to skim through — but it’s also worth making sure the information is correct. If your name is misspelled or just one digit of your Social Security number is off, for example, it could cause you problems later. And the IRS recommends reviewing your income tax withholding choices at least once a year, early in the year, to help avoid any surprises when you prepare your income taxes.
Breaking Down Earnings
The earnings section is where many people quickly zoom in to see how much money is coming their way. But it’s not one single number you’ll find in this section. Here’s what the earnings on your pay stub or paycheck can tell you.
Gross Pay vs. Net Pay: What’s the Difference?
You’ll likely be interested in how much you received for a given pay period. When looking for that, keep the following in mind:
• Your gross earnings equal the money you made before taxes and other deductions were subtracted.
• Your net earnings indicate the amount you’re actually paid after those deductions are taken out. So the net figure is the amount of cash landing in your checking account if you have direct deposit and send all your wages there. (And if you don’t, this is the amount you’ll see on your paper paycheck.)
These two figures may appear in different areas on the pay slip, not necessarily at the top. They are important to track: Understanding the difference in your net vs. gross pay can be useful for budgeting, goal-setting, and deciding how much to save from each paycheck.
Regular Wages and Overtime Pay
The earnings section is typically broken down into a few different categories, which may vary depending on, say, whether you’re a salaried or hourly employee. It may include your regular pay rate and how many hours you worked, for example, plus overtime, holiday, and vacation pay rates and hours.
Bonuses, Commissions, and Other Compensation
Some people simply earn a straight salary. But others may have other forms of compensation, such as a commission on sales or a year-end bonus. These amounts and any other forms of compensation will be listed.
Year-to-Date (YTD) Earnings
You can gain further insight onto your earnings when you compare a given pay period’s numbers and YTD, or year-to-date, figures. The YTD figures show how your income is stacking up over the course of the year and can help you track where you are in terms of your expectations for this juncture.
Why It Matters: Checking payment details can help you be sure your hourly wages/salary and other compensation amounts are correct. What’s more, tracking how much you’re earning in other pay categories can be helpful for tax and other planning purposes.
Here’s where you’ll see your gross earnings shrink down to your net pay, thanks to statutory (or obligatory) and voluntary deductions.
Required Payroll Deductions
The statutory deductions listed on your stub are taxes employers are required by law to withhold from an employee’s pay. These include:
• Federal income tax withholding, which the government uses to pay for school, roads, national defense, and other government programs.
• Federal Insurance Contributions Act (FICA) taxes, which help fund Social Security and Medicare programs. (6.2% of your gross wages goes toward Social Security tax, and 1.45% of your gross wages goes to Medicare tax. Your employer matches these percentages for a total of 15.3%. These percentages can change, as determined by Congress.)
• State income taxes, which will vary depending on where you live and work. Some states have no state income tax, while in other states, tax rates can range from typically higher (California) to lower (Arizona, North Dakota, and Oklahoma).
Elective Payroll Deductions
Other paycheck deductions you may see listed on your stub are for benefits you have a choice about, such as:
• Health and dental insurance premiums
• Life insurance premiums
• Disability insurance premiums
• 401(k) or similar retirement plan contributions
• Charitable giving
• Union dues
Many of these costs may be pre-tax — deducted from your earnings before taxes are calculated — and others will be post-tax. If you aren’t sure whether certain of your benefits are pre- or post-tax and it isn’t clearly defined on your pay stub, you may want to ask someone in human resources, or HR, to break it down for you.
Why It Matters: It’s always a good idea to know what you’re paying for, so you can make choices that maximize your earnings. And understanding which payroll deductions are pre- or post-tax can help with budgeting and tax planning.
Employer Contributions
Knowing how to read this portion of your pay stub will help you see what your employer is paying for on your behalf, outside of your wages. This section may include a base amount paid by your employer for different types of insurance (which you can usually add to at your discretion), as well as any pension information, and the amount your employer is contributing to your retirement plan (based on an agreed-upon match based on your contribution amount).
The amounts your employer pays toward federal and state unemployment taxes may also be listed here with the acronyms FUTA (Federal Unemployment Tax Act) and SUTA (State Unemployment Tax Act).
Why It Matters: Workplace benefits can be a valuable addition to your regular compensation. If you’re thinking about shopping for a new employer — or a competitor has approached you with a job — it can be helpful to compare the salary and benefits package you’re getting from your current company vs. potential offers. Knowing how to read a pay stub or how to read a paycheck can help you evaluate where these aspects of compensation currently stand.
Interpreting Additional Information on Your Pay Stub
Some other types of information that may appear on your stub include:
• Paid leave: The time off you’ve earned minus the time you’ve already taken may be listed under the employer benefits portion of your stub, or these hours (vacation, sick time, personal/flex time) may appear in their own section.
• Loan repayment: If you borrowed money from your 401(k) and set up a repayment plan using payroll deductions, you can look for the current amount paid and year-to-date amount paid in the elective deductions section.
• Wage garnishment: If your employer received a garnishment order (because you have unpaid child support or alimony, taxes, student loans, etc.), that amount may be listed under “deductions” or “other deductions.”
• Notes: This section of your pay stub may contain updates from the company ranging from an upcoming increase in your wages to a heads-up about a coming charity drive.
Why It Matters: Keeping track of these pieces of information — which are often unique to you — can be useful, whether you’re budgeting for the month ahead or planning for a future goal.
Either way, understanding and checking the math that went into getting this final number can help you catch mistakes. And understanding the difference in your net vs. gross pay can be useful for budgeting, goal-setting, and deciding how much to save from each paycheck.
There’s a wealth of data on your pay slip that can help you understand and possibly optimize your earnings. You can see how much you’re contributing to your retirement plan and how much your employer might be matching. And you can keep tabs on the other types of employer-paid benefits you’re receiving that go beyond your wages. You also can check to see if you’re still happy with how much is being withheld each payday for federal and state taxes, and if you need to make adjustments so there aren’t any surprises come tax time.
Another way to make the most of your hard-earned money? Partner with the right bank.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 4.00% APY on SoFi Checking and Savings.
FAQ
What should I do if I notice an error on my pay stub?
Comparing your newest pay stub to older slips can help you determine if there is, indeed, a discrepancy, and it’s one of the benefits of knowing how to read a paycheck. If you’ve spotted what you believe to be a mistake, it’s a good idea to take it immediately to your employer, such as someone in HR. Make sure the report is documented (you may have to put the issue in writing), and follow up as needed to make sure it’s explained and/or addressed.
How long should I keep my pay stubs?
It can make sense to hold onto pay stubs for at least a year. You may need them for tax preparation or for proof of income if you’re applying for a mortgage or other large purchase.
Can I get a copy of a lost pay stub?
If you’ve lost a pay stub and don’t know where to locate your earnings statements electronically, ask your manager or HR for help logging on to the company website and finding what you need. If you don’t have direct online access to your personal payroll records, you can contact HR or the payroll department for help getting a copy of your pay stub.
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By Emma Diehl |
Life & Career, relay |
Comments Off on 25 Easy Jobs That Make a Lot of Money With Little Work Without College
Attending a four-year university isn’t for everyone, but that doesn’t mean a high-paying job should be out of reach. There are plenty of roles that allow you to make a lot of money without a college degree. We’re not talking about brain surgery or rocket science — just normal jobs that pay well and may even be fun or cool.
Read on to learn more about various jobs that pay well and don’t require a college degree.
Key Points
• There are many high-paying jobs that don’t require a college degree, offering opportunities in health care, construction, and technology.
• Roles like radiation therapist, MRI technician, and claims adjuster are lucrative without needing a degree.
• Some jobs require certifications or on-the-job training, which are typically less costly than a four-year degree.
• Foregoing a college degree means you can enter the workforce earlier and avoid student debt, though some roles may be physically demanding.
• Networking and industry research can help you find these opportunities.
Why It’s Difficult to Know About Easy Jobs Without a Degree
When it comes to job searching, it’s hard to beat the power of networking. College students and graduates often have a leg up in this department. From alumni networks to on-campus job fairs, many institutions offer different ways to build important professional connections — and potentially learn about not-yet-posted job opportunities.
But you don’t necessarily have to go to college to create a professional network or find a job that doesn’t require a degree. Some strategies include attending industry events, engaging with social networks related to your area of interest, and requesting informational interviews with companies you’re interested in.
If you’re just starting out — or are considering a career change — you may also want to research growing industries that need workers. Certain roles may require some technical certifications or on-the-job apprenticeships. Still, they could offer competitive pay, coming close to or exceeding the annual expected salary for someone with a bachelor’s degree.
No matter your salary, it’s important to pay attention to your spending and saving. SoFi’s budget tracker tool gathers all your finance info in a single place so you can look at spending patterns, set financial goals, and monitor your credit score for free.
• Don’t traditionally excel in an academic environment
• Don’t want to take on student debt
• Are eager to enter the workforce
• Have interest in a trade or technical job
25 Easy Jobs That Make a Lot of Money With Little Work Without College
Many jobs that don’t require a degree are minimum wage or low paying. However, there is a sweet spot where jobs that pay well but don’t expect a degree overlap. While some of the following call for certification or training, it’s unlikely to cost as much as a traditional four-year degree.
The following salary figures from the Bureau of Labor Statistics represent the national median, and the job growth outlook is for 2023 to 2033.
1. Power Plant Operator, Distributor, and Dispatcher
Description: Control and manage the electrical power systems of a plant.
Salary: $100,890
Job Growth: -8%
Requirements: High school diploma or equivalent
2. Commercial Pilot
Description: Fly commercial airplanes and other aircraft.
Salary: $171,210
Job Growth: 5%
Requirements: Flight school
3. Elevator Installer and Repairer
Description: Install, repair, and maintain elevators and escalators.
Salary: $102,420
Job Growth: 6%
Requirements: High school diploma or equivalent
4. Makeup Artist, Theatrical and Performance
Description: On-set makeup application in the entertainment industry.
Salary: $47,390
Job Growth: 9%
Requirements: On-the-job training or beauty school certifications
5. Fire Inspector and Supervisor
Description: Inspect buildings to ensure they meet local, state, and federal standards.
Salary: $71,420
Job Growth: 6%
Requirements: Experience as a firefighter; high school diploma or equivalent
6. Aircraft Mechanic
Description: Work on plane equipment, including maintenance and repair. While pilots tend to be extroverted high achievers, aircraft mechanic is a solid job for introverts.
Salary: $75,400 per year
Job Growth: 5%
Requirements: On-the-job military training or certification from an FAA-approved technician’s school
7. HVAC Technician
Description: Install, repair, and maintain HVAC systems in residential and commercial properties.
Salary: $57,300
Job Growth: 9%
Requirements: Technical school and/or an apprenticeship
8. Plumber
Description: Install and repair plumbing systems in homes, factories, or businesses. Plumber roles may include on-call emergency hours.
Salary: $61,550
Job Growth: 6%
Requirements: High school diploma or equivalent
9. Drafter
Description: Digitize and convert architecture and engineering drawings using software.
Salary: $62,530
Job Growth: -1%
Requirements: Associate degree or technical certification
10. Sales Rep, Wholesale and Manufacturing
Description: Sell goods, at wholesale, to businesses and organizations.
Salary: $73,080
Job Growth: 1%
Requirements: Depends on the industry. Technical sales roles may require certification beyond a high school diploma.
11. Physical Therapist Assistant
Description: PT assistants work alongside physical therapists in a medical setting to help patients regain mobility.
Salary: $58,740
Job Growth: 19%
Requirements: Associate degree, licensing, or certification
12. Radiation Therapist
Description: Administer radiation to patients in a hospital setting.
Salary: $98,300
Job Growth: 3%
Requirements: Associate degree
13. MRI Technician
Job Description: Operate the MRI machine to examine patients, and interpret scans.
Salary: $76,020
Job Growth: 6%
Requirements: Associate degree
14. Programmer
Description: Write and test code for a variety of programs and software across industries and verticals. Programming is considered a popular job choice for antisocial people.
Salary: $99,700
Job Growth: -10%
Requirements: Historically, roles have required a bachelor’s degree. Recently, employers are considering candidates with certifications or bootcamp training.
15. Postal Service Worker
Description: Process, collect, and deliver mail to homes and businesses.
Salary: $56,510
Job Growth: -4%
Requirements: High school diploma or equivalent
16. Claims Adjuster, Appraiser, Examiner, and Investigator
Description: Examine and appraise insurance claims, from automotive to residential or commercial building damage.
Salary: $75,020
Job Growth: -5%
Requirements: For most entry-level roles, a high school diploma or equivalent is required. In some industries, such as auto damage appraisal, a certification may be required.
17. Construction and Building Inspector
Description: Inspect residential and commercial buildings to ensure they adhere to local codes and specifications.
Salary: $67,700
Job Growth: 0%
Requirements: High school diploma or equivalent
18. Court Reporter and Simultaneous Captioner
Description: Create exact transcripts of exchanges, including courtroom proceedings, or live captioning on television.
Salary: $63,940
Job Growth: 2%
Requirements: Training or certification
19. Sound Engineering Technician
Description: Maintain sound systems for live performances, broadcasts, and other programming.
Salary: $59,430
Job Growth: 3%
Requirements: Varies but often includes technical certification
20. Police Detective
Description: Gather facts and investigate crimes. Some police departments are currently offering generous signing bonuses.
Salary: $74,910
Job Growth: 4%
Requirements: Police Academy completion and on-the-job training
21. Electrician
Description: Repair, install, and maintain electrical systems.
Salary: $61,590
Job Growth: 11%
Requirements: High school diploma or equivalent
22. Brick Mason
Description: Use concrete, stone, or brick to build structures.
There’s a potential to earn a high salary in many jobs that don’t require a college degree. However, it may require some research and certifications beyond a high school diploma. Some jobs that pay well, don’t require a degree, and may even be enjoyable range from the medical field and construction to computers and insurance. If you know someone who’s a brick mason or a sonographer, take them out for coffee to get the inside scoop. You might even offer to shadow them at work to find out what their industry is really like.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
What is the easiest job that pays the most?
One of the easiest jobs that pays well is working as a claims adjuster for insurance companies. A college degree isn’t usually required, but you may need to earn a license before you can start working.
What is the easiest job to get without a degree?
Depending on the industry, it can be relatively easy to get a job in sales with little to no prior experience. However, the role may include on-the-job training to get you up to speed.
What jobs pay a lot but are easy?
There are many jobs in the health care space that don’t require manual labor but pay well. This includes roles such as a radiation therapist or MRI technician.
Photo credit: iStock/damircudic
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Teaching can be a rewarding profession, but it typically isn’t a high-paying one. If you’re a teacher, it won’t surprise you to learn that 17.1% of teachers earn supplemental income from side jobs, according to a study by the Learning Policy Institute. The challenge is landing a gig that pays enough to make it worth your time and effort.
Not only do those positions exist, these days they can often be done online and on your own schedule. Read on for a look at some of the best-paying options for teachers looking for a side job in 2024.
• Many teachers seek side jobs to supplement their income due to the generally low pay in the profession.
• Online side jobs offer flexibility, allowing teachers to work around their existing schedules.
• Side gigs can range from tutoring and creating educational content to roles unrelated to teaching, like data analysis or graphic design.
• These positions not only provide extra income but also opportunities to develop new skills and potentially explore alternative career paths.
• It’s important for teachers to consider the impact of additional work on their work-life balance and personal well-being.
Qualities of a Good Side Job for Teachers?
Teachers need to consider a number of factors before committing to a side gig: How much stress could the second job cause? Will the hours fit with your current work schedule? And of course, do you plan to work a second job year-round or just during seasonal breaks?
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Things to Look for in a Year-Round Gig
• Hours that accommodate your teaching schedule.
• Workload and deadlines that won’t add to your stress level or lead to total burnout.
Things to Look for in a Summer Gig
• A fun environment or flexible schedule that makes you feel that you’re still getting a break?
• Something you can return to year after year — and maybe during other school breaks — so you don’t have to start over seeking a new job each summer.
• Could the work you’re doing damage your career as a teacher? (It can be a good idea to check with your employer to see if there are rules for outside jobs.)
• Can you build skills you’ll use as a teacher, or in another career you might be interested in pursuing?
Pros & Cons of Online Side Jobs for Teachers
Teaching is a challenging job that requires patience and preparation. If you choose to add a side gig, it’s important to have realistic expectations. As you decide whether to take on more work — and what that work might be — here are some pros and cons to keep in mind:
Potential Benefits of a Side Job
• Make extra money: It may take some searching to find a side gig that offers competitive pay — enough to make a difference in your financial situation. Even a few hundred a month can help cover day-to-day bills or finance a future goal, like paying off student loans. A free budget app can help, too.
• Develop a backup plan: Your side job can help fill a financial gap if you ever decide to transition to another career, or if you leave one teaching job and take a while to find another. You may even decide the side job is a better fit than what you’re currently doing.
• Acquire new skills: A side job can offer opportunities to network and socialize with new people, and learn or fine-tune skills.
Potential Downsides of a Side Job
• Undermines work/life balance: Teaching already takes up much of your day — even when you aren’t physically at work. If you put that same amount of time and effort into a second job, it could take your attention away from your family and other things you love and enjoy.
• Turns a passion into a pain: You might lose your love for your favorite hobby (photography, reading, writing, crafting, etc.) if you make it an obligation.
• Requires startup costs: You don’t need a money tracker app to discover that if you have to invest money in equipment to get your business going — even if it’s just a new laptop or phone — it may take a while before you start making money.
Why It Can Be Difficult for Teachers to Find Online Side Jobs
Even though opportunities to work remotely are increasing, it still may be hard to find a side job online that meets your needs. The skill set required for an online job might be quite different from what you’re used to as a teacher — and some jobs can require applicants to have specialized training. If you’re completing an application online, it may be tough to convince the employer you can do the job even if you don’t have the training.
It also can be challenging to separate legitimate remote side jobs for teachers from scams that require you to put in some of your own money upfront in order to get the job. (Don’t ever pay for an opportunity!) Employment ads that aren’t specific about pay, or that require a lengthy application process, can also be a turnoff.
Here are some steps that can help you along on your side-gig search:
Assess Your Skills
Think beyond the classroom as you consider the many marketable skills you can bring to a second job.
Consider Your Interests
You’ll be more engaged and confident if you’re doing something related to your areas of casual expertise or hobbies.
Do Your Research
You may have to learn a new lingo just to understand some online job postings — and respond to them appropriately. Don’t let what seems to be gibberish keep you from finding your fit.
Find a Mentor
If you know someone who has a successful side gig, ask for advice about how to get started. For example, if you’re obsessed with budgets, consider an apprenticeship with an experienced financial planner.
Update Your Online Profile
Take the time to update your profile on relevant social media platforms — whether that’s LinkedIn or Etsy.
Keep Your Priorities in Mind
Be prepared to start small. If you love the work, you can always grow your role over time. You may choose at some point to change careers, but you’ll want to make that decision on your terms, not because you were distracted from your duties as a teacher.
24 Best-Paying Online Side Jobs for Teachers, Part 1: Year-Round
The amount of money you can earn through an online side job varies widely, depending on how many hours you put in, and whether you’re starting at an entry-level salary or being compensated for your experience and skills.
Below are two dozen online side jobs for teachers that potentially offer higher earnings. Average wages and job growth outlook are based on data from the Bureau of Labor Statistics. Most side jobs pay an hourly rate vs. a salary, but we’ve included both.
1. Data Scientist
Potential for Remote Work: Although full-time data scientists typically work in an office environment, much of their work is done online, which makes part-time remote work with flexible hours a possibility.
National Average Pay: $51.93 median hourly wage; $108,020 median annual wage
Job Growth Outlook: 36% (faster than most occupations)
Job Description: Data scientists create the algorithms and predictive models used to extract meaningful information used in making business decisions.
Job Requirements: Entry-level data scientists generally have at least a bachelor’s degree in mathematics, statistics, computer science, or a related field.
How to Get Started: Networking and attending in-person and virtual meetups can help get your foot in the door. Sites like Indeed and LinkedIn post data science jobs, and many companies post open jobs on their own websites.
2. English as a Second Language (ESL) Teacher
Potential for Remote Work: There are many opportunities for ESL teachers to instruct students virtually through video-conferencing platforms. Because learners come from around the world, teachers can put together a work schedule that fits their needs.
National Average Pay: $29.11 median hourly wage; $60,560 median annual wage
Job Growth Outlook: -13% (declining)
Job Description: ESL teachers tutor students who want to improve their English language skills.
Job Requirements: A bachelor’s degree (in English, communications, or a related field) and/or teaching certificate is typically required; good computer and communication skills are a big plus.
How to Get Started: Job sites like Indeed regularly post remote ESL teaching jobs. Other online platforms recruit ESL teachers, including VIPKid and Skooli.
3. Online Tutoring
Potential for Remote Work: There are all kinds of opportunities for teachers who want to tutor students online. One of the perks is that you can set appointments around your schedule.
National Average Pay: $19.01 mean hourly wage; $39,580 mean annual wage (pay varies based on subject and student needs)
Job Growth Outlook: 1%
Job Description: Duties might range from teaching toddlers their ABCs to offering test prep (SAT, ACT, LSAT, etc.) to high school and college students.
Job Requirements: Requirements vary based on subject and student age; a bachelor’s degree and/or teaching certificate may be required.
How to Get Started: You can find tutoring gigs on job boards or through platforms such as Care.com and Tutors.com. Or you may decide to set up your own tutoring business and advertise online.
4. Selling Lesson Plans
Potential for Remote Work: Thanks to the internet, teachers can now share learning materials they’ve created both locally and globally.
National Average Pay: Not available (varies by subject, grade, and amount of content sold)
Job Growth Outlook: Not available
Job Description: Create shareable lesson plans, flash cards, tests, etc., and sell them on your own website or an online platform.
Job Requirements: No set requirements, but you may be asked to prove your credibility when selling your content.
How to Get Started: Check out what others are doing on marketplace sites like TeachersPayTeachers or Etsy. Once you’ve created your content (be careful about copyright infringement), you can market your products on social media or through these platforms. Networking opportunities (attending conferences, etc.) can also help get the word out.
5. Editing / Proofreading
Potential for Remote Work: Content typically can be edited online and on your own schedule, depending on deadline needs.
National Average Pay: For editors, $36.07 median hourly wage, $75,020 median annual wage; for proofreaders, $23.45 mean hourly wage, $48,790 mean annual wage
Job Growth Outlook: For editors, -2% (declining); for proofreaders, -3%
Job Description: Editors plan, review, and revise content provided by writers; proofreaders check copy for errors.
Job Requirements: Good grammar and communication skills; some jobs may require a bachelor’s degree in English, journalism, or a related field.
How to Get Started: You can find editing and proofreading work on job boards or advertised by individual companies.
6. Freelance Writing
Potential for Remote Work: Because you generally can create content anytime and anywhere, freelance writing easily lends itself to remote working.
National Average Pay: $35.43 median hourly wage; $73,690 median annual wage
Job Growth Outlook: 5% (average for all occupations)
Job Description: Freelance writers provide content for print and online media.
Job Requirements: Good grasp of English language, spelling and grammar, and excellent communication skills. Some employers may require a bachelor’s degree in English, journalism, or a related field.
How to Get Started: You can pitch ideas to your favorite publications or look for work on job boards and platforms such as Upwork and Fiverr. Consider creating a website to showcase your talent. And networking (word of mouth) can be key. If you have a particular expertise (technical, travel, or food writing, for example), make that information known.
7. Creating Printables
Potential for Remote Work: This is another job you can do on your own time and almost completely online.
National Average Pay: Not available
Job Growth Outlook: Not available
Job Description: Create customized calendars, cheerful stickers, classroom decorations, etc.
Job Requirements: Creativity and good design skills are a must; you’ll also need the appropriate design software.
How to Get Started: Creators typically sell printables on sites like Etsy or their own website. Get the word out on social media and by networking and attending conferences for educators, organizational experts, etc.
8. Selling Artwork and/or Crafts
Potential for Remote Work: It may be easier to sell your goods in person at a local craft fair, but if you sell online, you can reach a wider audience and do it on your own time.
National Average Pay: $25.44 median hourly wage; $52,910 median annual wage
Job Growth Outlook: 3% (average)
Job Description: Selling your own creative works (paintings, photos, sculptures, etc.)
Job Requirements: Creativity and skill in your artistic niche as well as marketing, business, and computer skills.
How to Get Started: Check out e-commerce sites like Etsy and Society6 to see how others are marketing themselves and their products. You can use social media to get the word out, and you may want to develop your own e-commerce site to sell your goods. Be sure to check into whether a business license is required in your area.
9. Medical Transcriptionist
Potential for Remote Work: Because you’ll be working from recordings, you typically can do this work remotely and when it’s convenient for your schedule (deadlines may apply). This position may also be a low-stress option for introverts.
National Average Pay: $17.82 median hourly wage; $37,060 median annual wage
Job Growth Outlook: -5% (declining)
Job Description: Transcribe audio content into written content.
Job Requirements: May require certification. Employers may test for typing speed and accuracy. Discretion and some knowledge of medical terms and basic anatomy are a plus. You may have to purchase special equipment to do the job.
How to Get Started: Check out job boards and medical transcription sites. A transcription course (in-person or online) may offer career services.
10. Graphic Designer
Potential for Remote Work: Graphic designers can do most of their creative work on their own schedule, but you will have to find time to communicate with your clients. And deadlines may be a factor.
National Average Pay: $28.32 median hourly wage; $58,910 median annual wage
Job Growth Outlook: 2% (slower than the average for all occupations)
Job Description: Use design software to create visuals that convey your employer’s message.
Job Requirements: Knowledge of design software, creative skills, and an ability to collaborate with others; some employers may require a bachelor’s degree in graphic design or a related field.
How to Get Started: Job boards offer remote graphic design positions for a wide range of specialties. You also can build an online portfolio and use social media to generate interest.
11. Life Coach
Potential for Remote Work: Life coaches can manage client sessions by phone or with video conferencing.
National Average Pay: Not available
Job Growth Outlook: Not available
Job Description: Assist clients in reaching their full potential.
Job Requirements: No formal requirements exist for life coaches, but prospective clients may prefer that you have some type of training or credentials. A background in counseling and psychology is helpful. Important traits include empathy, patience, and creative problem-solving skills.
How to Get Started: It may help to work with an experienced life coach when starting out. Networking and social media can be a useful way to find clients.
12. Translator
Potential for Remote Work: Freelance translators typically can work from home using their own computer.
National Average Pay: $27.45 median hourly wage; $57,090 median annual wage
Job Growth Outlook: 2% (slower than the average for all occupations)
Job Description: Convert written content from one language to another.
Job Requirements: Must be proficient in English and at least one other language; some employers may require a bachelor’s degree.
How to Get Started: Check translation agencies and job boards, or you can solicit work through social media.
13. Digital Marketer
Potential for Remote Work: If you can collaborate with clients and coworkers without meeting in person, this job can be done remotely.
National Average Pay: Not Available
Job Growth Outlook: Not Available
Job Description: Promote individuals and businesses using social media, search engines, websites, and other online tools.
Job Requirements: Should be familiar with social media platforms. Creativity, patience, and strong communication and problem-solving skills are a plus. Some employers may require a bachelor’s degree in communications, marketing, public relations, journalism, or a related field.
How to Get Started: Networking — online and in person — can be a good way to get your foot in the virtual door; check job boards for listings.
14. App Developer
Potential for Remote Work: Developers often work independently.
National Average Pay: $44.59 median hourly wage; $92,750 median annual wage
Job Growth Outlook: 8% (faster than average)
Job Description: Create, test, and improve software applications.
Job Requirements: Collaboration, creativity, and tech savviness are important. Some employers may require a bachelor’s degree in information technology, computer science, or a related field.
How to Get Started: Taking courses in app development and networking with like-minded creative types Can help with finding a mentor and freelance gigs.
15. Creating Video Tutorials
Potential for Remote Work: You can produce videos on your own anywhere you like and on your own time.
National Average Pay: Not Available
Job Growth Outlook: Not Available
Job Description: Film tutorials and monetize them.
Job Requirements: Knowledge of your subject, technical ability to produce videos, and marketing savvy to build your brand. You’ll also need a good video camera and computer.
How to Get Started: Anyone can make an instructional video and upload it to YouTube. Building a strong portfolio and a reputation for solid content will help you monetize your videos.
16. Fitness Trainer
Potential for Remote Work: If you can find clients who prefer to exercise from home and can do their workouts when you’re available, you can teach them from your home.
National Average Pay: $22.35 median hourly wage; $46,480 median annual wage
Job Growth Outlook: 14% (much faster than average)
Job Description: Teach online classes in general fitness, yoga, strength training, etc.
Job Requirements: Though no degree is required, there are certifications available for personal trainers. You’ll also need good lighting, space to do your workouts, and video and computer equipment.
How to Get Started: If you’re a physical education teacher, coach, or a longtime gym-goer, you can spread the word on social media and through word of mouth.
17. Blogging
Potential for Remote Work: Blogging can be done at your convenience.
National Average Pay: Not available
Job Growth Outlook: Not available
Job Description: Entertain and inform an online audience with written and visual content.
Job Requirements: To make money from a blog, you’ll need to engage your audience and post frequently.
How to Get Started: You can start out by writing on a popular blogging platform, and then get the word out on social media. Network with others who may be interested in what you’re blogging about.
18. Test Scorer
Potential for Remote Work: Remote workers can score most types of multiple choice and essay exams.
National Average Pay: Not available
Job Growth Outlook: Not Available
Job Description: Grade tests and offer feedback to test-givers and test-takers.
Job Requirements: Subject expertise and attention to detail. Some employers may require a bachelor’s degree in education or a related field.
How to Get Started: Job boards frequently offer test scoring gigs, or you can query evaluation services like ETS and Measurement Incorporated.
19. Curriculum Specialist
Potential for Remote Work: Teachers typically can provide curriculum support online at their convenience, though you may have to meet with others in person or at scheduled online conferences.
National Average Pay: $35.87 median hourly wage; $74,620 median annual wage
Job Growth Outlook: 2% (slower than average)
Job Description: Develop curriculum and/or offer feedback to schools and other education services.
Job Requirements: Employers may require a bachelor’s or master’s degree as well as a few years of experience in teaching or a related field.
How to Get Started: Check job boards, but you may also find opportunities while networking with other educators.
24 Best-Paying Online Side Jobs for Teachers, Part 2: Seasonal / Summer
Because these jobs may require interacting with an employer or team members in person or remotely during the day, teachers may find it’s easier to put in their hours during seasonal school breaks.
20. Customer Service Representative
Potential for Remote Work: Customer service representatives often can work from home. However, you may have to attend some in-person training sessions before you get started, and you’ll have to find a work schedule that fits with your teaching job.
National Average Pay: $19.08 median hourly wage; $39,680 median annual wage
Job Growth Outlook: -5% (declining)
Job Description: Provide support to customers who require assistance.
Job Requirements: Patience and good communication and problem-solving skills are key. Some type of on-the-job training likely will be required. Some companies have requirements for the type of computer and phone you can use, and a strong Wi-Fi connection is a must. (Shy types need not apply, but there are plenty of jobs for antisocial people.)
How to Get Started: Customer service jobs are often listed on online job boards and through employment agencies.
21. Travel Agent
Potential for Remote Work: This job can be done remotely, but travel agents should be available to communicate with anxious clients who have questions and concerns.
National Average Pay: $22.79 median hourly wage; $47,410 median annual wage
Job Growth Outlook: 3% (as fast as average)
Job Description: Help clients choose and book work and leisure trips; provide assistance when problems arise.
Job Requirements: Good communication, customer service, and organizational skills are important. Some employers or clients may expect you to have some type of certification. Lots of travel experience is a plus.
How to Get Started: Check job boards and local agencies. It may help to work for an agency first before starting your own business.
22. Tax Preparation
Potential for Remote Work: Tax services regularly hire seasonal workers to prepare returns from home.
National Average Pay: $23.56 mean hourly wage; $49,010 median annual wage (does not include accountants and auditors)
Job Growth Outlook: 4% (as fast as average)
Job Description: Work with individuals and businesses to prepare tax returns and assist in resolving tax issues.
Job Requirements: Must be well-versed in current tax code. May have to complete company training. Must maintain a Preparer Tax Identification Number and may need an Electronic Filing Identification Number (EFIN).
How to Get Started: Check job sites or go directly to companies like H&R Block, Intuit, or small local firms. Seasonal work (January through April) is easier to find, but some year-round opportunities may be available.
23. Appointment Generator
Potential for Remote Work: Working remotely should be doable, but it may be difficult to manage the work during off hours.
National Average Pay: Not available
Job Growth Outlook: Not available
Job Description: Handle cold calling and book appointments for real estate agents and other sales professionals.
Job Requirements: Strong communication and organizational skills.
How to Get Started: Check job boards and promote your services on social media; attend networking events.
24. Virtual Assistant
Potential for Remote Work: Many administrative duties can be handled online and after hours. If you’re required to do phone work, however, you may have to limit your work time to school breaks.
National Average Pay: $22.12 average median salary; $46,010 median annual salary (includes administrative assistants who work onsite)
Job Growth Outlook: 1% (slower than average)
Job Description: General administrative support may include organizing and answering emails, scheduling appointments, arranging travel, and making phone calls.
Job Requirements: Strong communication and organizational skills, attention to detail.
How to Get Started: Job boards are loaded with positions for different types of virtual assistants.
The Takeaway
If you’re a teacher looking to earn additional income, you’ll find there are many side jobs that fit your skills and schedule, and still offer a competitive paycheck. You can take on jobs that tap into your educational expertise: tutor, curriculum specialist, lesson plan developer, test scorer. Or you may prefer to pursue another passion, like selling your artwork or working as a virtual assistant for a nonprofit you admire. The keys are to avoid burnout and to make the most of the time you put in.
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FAQ
How can teachers make extra money online?
Working remotely allows teachers to pursue a second job that fits their schedule and their skills. Many opportunities are available on job boards and freelance sites.
What are the best side jobs for teachers?
The best side jobs for teachers are those that allow them to earn a good paycheck while maintaining a healthy work-life balance. Remote freelance work is easy to find these days, and generally pays better than minimum wage. Check freelance job boards for ideas.
What are the most profitable side hustles?
Some of the most profitable side hustles are technology-oriented. Those jobs also can be a good fit for people who wish to work remotely. If you have skills or experience with computers, IT, or app development, you can parlay it into a well-paying side gig. Full-timers can easily make a $100,000 salary.
Photo credit: iStock/DMEPhotography
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