Enterprising South Africans are turning hard times around

Enterprising South Africans are turning hard times around
July 24 09:15 2018 Print This Article

With finances under pressure, the side hustle is booming in South Africa

These days relying on your day job to make ends meet is not enough. 1  Times are tough and job movement is low, so many South Africans are supplementing their income with extra work.

More than one in three working individuals earning more than R5OOO a month earned an additional income over and above their normal job. ‘Old mutual says it is typically entrepreneurial, go-getters… who want to ensure greater job security and because their income may not be coping with growing expenses’ 2. These are professional people with what one might think of as a traditionally good income, having to work round the clock to survive. A clear indication that the nation is stretched.

Across the country, households are still struggling to keep up with their usual monthly outgoings. From paying bills to attempting to save, South Africans incomes are coming up short. With huge numbers of South Africans choosing to use personal loans from companies like www.wonga.co.za to supplement their monthly income, it is clear that something needs to be done.

‘Matilda Harris, a printing business manager and water aerobics instructor said: ‘The reason I have two jobs is the economy has become very tight and I needed a bit of extra income’.

Likewise, Thapelo Mogapi, a customer service supervisor and D.J. says the financial benefit allows him to provide for his kids and live a normal life despite the economic slump.2  Unable to see the change that they need, South Africans have been forced to innovate  and create the things that they need for themselves. Although innovation is good for the economy, is this what we want for our fellow South Africans? A trend that cuts across class boundaries, Nicholson thinks that the figure will continue to rise.

Here are some of the top-side hustles:

  • Rent out your space: the internet and a huge number of airbnb inspired websites make renting out a space easy. Whether you have a room or a complete property there are options to suit everyone.
  • Freelance : people power is in full force with lots of companies deciding to recruit freelancers from online sites themselves. Completing jobs remotely is also cost-effective for both the employer and freelancer. Tasks are time-bound .
  • Work for Uber: you know your city – make your knowledge work for you and join Uber
  • Work in a hobby part: whatever your hobby, there is always something that you can do part-time, from sports to dancing or arts and crafts, take a look at local online and offline classifieds and noticeboards.

This is a powerful way to increase your financial income and skill set at the same time, a trend that looks set to continue, so you may want to get in on the act.

Do you agree or have you got a better way to make some extra money? We would love to hear from you.

1 https://www.city-press.news24.com/Personal-Finance/6-ways-to-earn-an-extra-income-20170607

https://www.moneyweb.co.za/mymoney/moneyweb-personal-finance/many-south-africans-work-two -jobs-to make -ends -meet/

https://www.investor.vang

https://www.fin24.com/Money/ Banking/Credit-card-fraud-declines-20141008

5 https://www.mybroadband.co.za/news/banking/232887-cash-is-not-going-anywhere-in-south-africa.html

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Jacques Jeanlouis
Jacques Jeanlouis

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