Let’s face it, software engineers have pretty high salaries.
You can easily live a very comfortable life based off of your salary
However, some programmers like to explore side income ideas to supplement their full time salaries.
May be you want to get an early retirement?
May be you want to experience the freedom of simply having enough money so that you never have to worry about finances or losing your job.
The reasons for why you might want an extra income beside your hefty salary are numerous and varies from one engineer to another.
In this article, I will share with you 5 side income ideas that will help increase your income without quitting your full time job.
1. Passive Investing
For many programmers, saving money is just good enough.
It is very simple thing to do. You get your salary deposited to your current bank account. You spend some of your salary and the rest remains idle in your bank account.
Of course as long as you spend less than you earn (which you should), your net worth will gradually increase over time.
The issue is that leaving cash in your bank account is not ideal as your net worth growth will be painfully slow.
If you want to build your wealth, all indicators show that you have to invest your money.
If you just started your programming career right out of college, you probably know nothing about stock market investing.
Just to be clear I am not talking about day-trading and spending all your free time buying and selling stocks! That is a job in itself and you will not have the time or the energy to do that because you already have your full time programming job.
What you should do instead is focus on passive investing.
All you have to do is invest in safe companies and let your portfolio grow over time.
Robo-advisors are digital platforms that provide automated, algorithm-driven financial planning services with little to no human supervision. A typical robo-advisor collects information from clients about their financial situation and future goals through an online survey, and then uses the data to offer advice and/or automatically invest client assets.
Both Wealthfront and Betterment allow you to invest in ETFs and mutual funds which are relatively safer than handpicking individual stocks yourself.
However, because of the relatively low risk, don’t expect a huge return.
But still, definitely better than letting your cache sit idle in your bank account.
2. Start Your Own Programming Blog
If playing around with stocks isn’t your thing, you can earn some extra money by starting your own programming blog.
The advantage of this method is that not only will you be making money, but you will also be making yourself a name in the programming community.
Marketing yourself as a software engineer is extremely important and it will open the doors for a lot of opportunities in your career.
In addition to that, I am a strong believer that you can’t fully learn something until you teach it.
With a programming blog, you will be teaching others about programming while improving as a programmer yourself. All that while making money at the same time. How awesome is that?!
I actually wrote an in-depth article about how you can create your programming blog from scratch if you haven’t created any websites before.
But wait a minute, how can you make money from your programming blog?
You can monetize your blog in several ways:
The first method is to simply put ads on your blog.
If you don’t know where to start, you can always start with Google Adsense.
Google allows you to put Google ads on your site and get a share of the ad revenue every time one of your readers click on the ad.
If you decide to monetize only with ads, you should always be trying to increase your readers as your ads income is directly proportional to the size of your readers.
After you get comfortable with Adsense, you can start experimenting with other premium ad agencies.
Second: Being an Affiliate
Alternatively you can try to set up your own affiliate system by selling other people’s products.
For example, you can sign up with Amazon associates and start selling any amazon product on your blog.
That’s pretty awesome because Amazon has pretty much everything under the sun.
When you sign up, amazon will give you a referral link that you can use on your blog. If your readers go to amazon through your referral link and buy anything from amazon, you get a commission.
The commission varies a lot based on the product, your performance, and other variables.
Since your readers are interested in programming, you should always suggest products that are valuable to programmers like programming books and software.
Now let me give you a word of advice.
Unlike monetizing with ads, when you monetize through being an affiliate, there exists a financial incentive to recommend expensive products even if you have never used these product yourself.
This is dangerous!
Whatever you recommend, make sure that you recommend products you actually use.
This is extremely important because the most valuable asset between you and your readers is trust.
Don’t ever compromise this mutual trust for a few extra bucks. Make sure that you recommend good, valuable products that you use yourself. If you don’t use the product, don’t recommend it. Period.
Third: Selling your own products
Selling your own products on your blog requires the most work but it brings in the most money.
Once you set up the products you want to sell and do everything on your end, your blog will continue to passively make money for you.
Make sure that your product aligns well with your readers.
Your products should be valuable to programmers and computer scientists.
For example, you can sell books about programming and the software engineering career.
Let me be clear here, selling your own product isn’t going to be easy.
Among other things, you will need to learn about online marketing and proper ways to promote your products.
However, these skills are extremely useful for you as a person and as a software engineer.
So by all means if you decide to go that route, trust me that it is not going to be a waste of time. Just be aware that it will take time.
3. Start Your Own YouTube Channel
If you want more of a personal interaction with your audience and you have a likable and friendly personality, you can start your very own Youtube channel.
Believe it or not, most software engineers could use some experience when it comes to public speaking.
After all, being able to work on your public speaking and communication skills can be very beneficial to you and your career.
So even if we were to entirely disregard the potential income (which could be significant), starting your youtube channel is still worth it.
I personally think starting a youtube channel is much more effective than just starting a blog.
Because Youtube allows you to build a much stronger relationship with your audience at a much deeper level than a programming blog would.
Of course, the best strategy is have both.
Now when it comes to monetization, making money on youtube isn’t very different from making money from your blog.
You can also monetize with youtube ads, affiliate links, or selling your own products.
4. Create a Video Course
With that in mind, it is easy to conclude that programming is in incredibly high demand right now, and will be for years to come.
With that much demand, not only can you make money through programming but also you can make money teaching programming.
There are literally hundreds of thousands of people in the world who want to learn what you already know.
And if you are a talented teacher, this could be an excellent side income for you.
You can literally teach programming to anyone in the world. It’s is a HUGE market.
Platforms like Udemy make it super easy to create your courses and make money from them. All you have to do is create a high quality course.
They will take care of the marketing and everything else.
5. Build a Piece of Software and Sell It
To end the list, here is a strategy that requires the most work out of the bunch – making your own piece of software in order to sell it.
You are a programmer. You write software. This is what you do.
The idea here is very simple.
Instead of writing software for someone else to sell, make some software that you sell yourself.
This requires more than just your programming skills, you need to develop an eye for business needs and opportunities.
Build a software that the market needs or that helps other people solve their problems and you will be in good shape.
You will also need to work on your marketing skills as well to be able to promote your software.
All of these skills, despite being extremely important, are skills that the average programmer does not have and you will be at a huge advantage if you can learn and employ these skills.
That said, not everyone who tries to make their own piece of software succeeds.
In fact, the probability is quite slim. But if your product does take off, it can be very lucrative.
You can create a phone app, a SAAS service, or just a downloadable software. The sky is the limit to what you can do.
There are many ways you can try to generate more side income as a programmer. All of these ideas require work. Don’t expect the money to come out of nowhere. The more work you put in, the more income you get.
To increase your income, you could:
- invest your savings
- create a programming blog
- start a youtube channel
- create a video course
- build a piece of software and sell it
So what are you going to start with?
Are you going to start your programming blog?
Or are you going to create your first programming course?
Let me know in the comments below 🙂