Many changes are happening in and around the current job market. But one thing is sure, learning an in-demand skill is profitable. So, whether you want to join the gig economy, start a business, or increase your competitive advantage in the workforce, this list will give you some ideas on money-making skills you need to make that happen.
Why it's important to have money making skills
Budgeting and saving are important in building a solid financial foundation. But increasing your income plays a big role in reaching your goals of paying off debt or investing faster. And truly, there are higher-earning possibilities and no downsides to having in-demand skills.
So, adapting to the changing job market and gaining desirable new skills increases your advantage over other jobseekers. You increase your value as a worker, which you can leverage to ask for higher pay. And companies will pay your worth because they’ll look at the value you bring and not the price.
How to develop money making skills
If you’re planning to learn a new skill to take up a side-hustle or switch careers, consider your interests and passions. Your genuine interest will fuel your desire to learn to keep going. If you’re doing this learning on top of other obligations, you need all the motivation you can get because it can be hard to stick with something if you don't like it.
Once you’ve settled on a skill, break down the steps you need to take to achieve it by making SMART goals for each step.
SMART goal method
- Specific: Define what you want to accomplish and what you need to do to achieve it.
- Measurable: Write down how you’ll measure your progress.
- Achievable: Are your goals realistic and attainable? If the answer is no, scale back and set a more realistic goal.
- Relevant: Set goals relevant to what you’re trying to accomplish. Are they aligned to your long-term goals?
- Time-bound: Lastly, set a time frame for your goals. Without a defined timeline, your plan could become just one more task in your to-do list that never gets crossed off.
So, making goals to develop your skills is an important step in the process!
9 Money making skills to learn
Here are the top 9 money-making skills to learn that can boost your career and increase your income!
1. Graphic Design
Graphic design involves creating visually appealing pages that inspire, inform, and captivate audiences. Unlike most of the skills in this list, graphic design is not just applicable online.
Graphic design services are valuable to businesses using layouts and illustrations in all mediums. For instance, you can work on advertisements, magazines, websites, or product designs.
You can advertise your services on sites like Upwork or Fiverr and work with clients who need images for their websites. You may also be asked to make designs for clothing or homeware products. Another option to make money is to sell your work on sites like Creative Market, Etsy, or Zazzle.
2. App Development
The fact that more than six billion of the world’s population owns a smartphone is probably one of the reasons why app development has become a high-paying job. App developers create, test, and improve mobile apps.
The tasks include writing codes, designing and developing the app’s interface, or devising fixes for any issues. As an app developer, you can be an independent contractor or join a company’s IT department.
Average pay for an app developer: $69,303 per year
How to start app development: There is online training from places like Simplilearn, Code Academy, and many more. You can also make more money if you’re specialized in either android or IOS environments.
3. Software Development
If you’re tech-savvy and you like solving puzzles, learning how to develop software could be right for you. Software developers work on computer programs of all sorts, like mobile apps and computer games.
Software developers solve a problem, provide entertainment, or simply make life easier for people by writing codes. This is one of the highest-paying money-making skills you can learn.
Average pay for a software developer: $110,140 per year
4. Web Development
There are over 1.5 million websites online today. So, needless to say, the web development field is booming. Web developers create and maintain websites.
It is the most in-demand title in tech and one of its top-paying jobs. So, if you're tech-savvy, then web development is one of the best money-making skills you can learn!
Average pay for a web developer: $77,200 per year
How to start web development: You can join a coding boot camp. It’s a faster way for you to get hands-on learning experience and develop job-ready skills.
5. Video Editing
Videos have become an increasingly popular way for companies to advertise online. Also, videos are not limited to Youtube anymore because all social media platforms play videos now too.
With video editing skills, you can land an entry-level job in television or marketing companies. You can choose to freelance and work with Youtubers or anyone wanting to use videos on their websites and social media accounts.
Average pay for a video editor: $18.73 per hour
How to start video editing: Learn video editing techniques and tools from online courses or programs at Udemy.
Are you good with words and selling? Then, learning how to become a copywriter will be a breeze for you. Copywriters produce the written words for promotional materials and marketing campaigns. Their goal is to engage and compel readers to buy products or services.
As a copywriter, you can work for marketing agencies and large businesses that produce their own marketing campaigns.
You also have a choice to freelance and be self-employed. You can specialize and create materials specifically for websites, social media posts, emails, advertisements, or newsletters.
Average pay for a copywriter: $50,456 per year
How to start copywriting: Sign up for a copywriting course to learn how to be a highly paid copywriter. You can also start by reading books on copywriting.
If you are fluent in two languages, translation might interest you because you already know this money-making skill. Translation is communicating the meaning of words from one language to another, including tone and other nuances. The translation industry increased significantly because of the growing global economy.
Businesses create translated content to reach foreign markets and members of the local population that speak different languages.
To freelance as a translator, you can sign up with websites like Upwork, Freelancer, PeoplePerHour. Once you’ve built up a portfolio, you can start marketing your services on professional sites like Proz.com.
Average pay for a translator: $45,695 per year
How to start translating: Volunteer for non-profit organizations to start getting experience. Create a profile on LinkedIn marketing your services. And look into getting a certification from American Translators Association.
8. Freelance writing
Freelance writing is one of the best money-making skills you can learn because it is very flexible and pays well. Every company, big or small, has a website these days. And every one of those websites offers resources and articles.
As a freelance writer, you can be hired to produce blog posts, emails, e-books, or newsletters. Freelance writing provides flexibility as you can work for marketing agencies and anyone with a website.
Average pay for a freelance writer: $23.70 an hour
How to start freelance writing: You can learn to become a freelance writer through courses, blogs, and books. Once you decide what to write about, you can create your own blog or write for free publications like Medium.
Photography is one of the best money-making skills you can learn because there are many ways to earn money from this skill. Interestingly enough, social media is also the reason why being a good photographer can be a lucrative side-hustle.
As a photographer, your potential clients include influencers who need photos for their content and everyone else who wants Instagram-worthy photos.
Average pay for a photographer: $16.91 an hour
How to start photography: Get started learning photography with a free course. Then, invest in a good camera and start building your portfolio. Create a website to show your photos and set up your social media accounts to start marketing your services.
Is learning a new money making skill the right step for you?
There are many opportunities to make money from the skills listed in this article. But before you jump in, consider the time and resources involved. Here are some questions to ask yourself:
- Is this the right time? If you have a big life event coming up, such as a new baby, house move, or a wedding, maybe you should wait until you get settled.
- Do you have the necessary resources to pay for courses, set up a website, or buy the equipment you need?
- Does this align with your long-term goals and plans?
You may have to adjust your plan to fit your schedule and budget. For instance, if you can't afford to enroll in courses, you could start by learning from videos, blogs, and books. Another option is to look into scholarships, grants, or other funding that can pay for you to learn a new skill.
So, don't get discouraged if you need to make adjustments. The important thing is to not let it deter you from learning a money-making skill that could increase your income!
Learn money-making skills to boost your career
These top-earning money-making skills will make you stand out and boost your career! Remember to take time to identify what gets you excited, motivated, and fulfilled.
Then, turn your interests into side-hustles or careers by learning these skills. Soon, you’ll be working in a role that you love and also pays well.