How To Make Money In Toronto
The Wealth Gang team writes about financial information, passive income ideas, apps, programs, cash management tools and other wealth gadgets that we think you might want to use or learn more about. Sometimes, we write about products, services or items that might be associated with affiliate partnerships. In these instances, we will earn a small percentage of the revenue from sales. There is, of course, no cost to you.
Thank you for all your support! Without you, we could not keep this site running. Gang Gang!
How To Make Money In Toronto
Whether you are looking for money to pay for your family vacation or you just need to keep up with your monthly bills, understanding the types jobs available on the market provides you options. The good thing with Toronto is that there are various options you can resort to. Here are some that may not have crossed your mind.
Listed below are the top ways on how to make money in Toronto.
Sell Your Clothes In Kind Exchange
Are you aware that there are many exchange stores located in Toronto? All you have to do is clean your closet, and sell them to Kind Exchange.
This is ideal for garments you may not have worn for a while and are just taking up room in your closet. In some cases, these stores will purchase you clothes based on weight, while others will pay you per item. Most will look for clothes that are in good shape and recent.
There are some stores that specialize in children clothes only. They tend to pay a bit higher.
Believe it or not, you can generate profit by shopping online. Drop is an online reward program that pays you every time you buy something from the internet. Start by signing up for an account and link your debit or credit card on for your online purchases. Once you have signed up, you will be earning points every time you shop using your linked cards in Drop. These points will then be converted to money should you redeem it.
Be A Part-Time Bookkeeper
Does earning $50 to $60 per hour sound appealing? What about the freedom to work part-time and remotely? If your answer to both questions is yes, then being a bookkeeper may be the best for you.
The roles of a bookkeeper are as follows:
- Billing, monitoring, and following up on accounts receivable
- Processing customer invoices
- Managing payroll
- Overseeing the inflow and outflow of cash
- Reconciling account balances
- Preparing, adjusting and processing book entries
Take note that being a bookkeeper is different from being an accountant. You don’t need to have a CPA license to be a successful bookkeeper. Compared to an accountant, the main focus of a bookkeeper is to track and monitor financial transaction. In fact, all you need to acquire are computer skills, patience, and passion to work.
Check out Sharmell Day’s How To Become A Bookkeeper to familiarize yourself more with this job.
Buy a copy now from AMAZON.COM
Event Staffing Agency
Are you interested in entering the world of marketing and promotions? If you are, then this might be the best time to apply for a role in an event staffing agency. One of the best event staffing agencies in Toronto is Femme Fatale Promotions & Media – a business that caters to various events such as corporate launch parties, business conferences, and sporting events. So, what will you do in this role? Here are some of the responsibilities of the event staff.
- Operate cash registers
- Work as ushers and ensure that the seating arrangements are followed
- Unload equipment needed for the event such as chairs, speakers, and building stages
- Ensure that the event hall is well organized and clean
- Assume the role of a ticket taker and welcome the guests that enter the premises
- Set up the lights and sounds equipment
- Undertake security duties
- Dispense reliable and useful information to event-goers
- Serve food and drinks either on the table or on the concession stand
- Pack up the materials upon completing the event
Sell Your Creations On Etsy
Etsy is a hub for all things creative. Believe it or not, many users have already found their significant successes in selling all kinds of goods – from handmade soaps to personalized shirts to jewelry.
What’s good about this website is that you don’t have to worry about paying anything. Creating an account is free, and you can easily manage all your purchases using their main dashboard. In here, you will be able to see the status of items, whether they are still being processed, whether they have been paid already, and whether they have been delivered.
One of the most frequent questions of individuals is how they can generate profit from entering this business. It’s simple. Once you have sold an item, Etsy will give you a 70 to 80 percent commission for being the creator. The 20 to 30 percent left from the original price will be used for the delivery of the item and as the source of their profit.
Tutor Kids Online
You can tutor kids without having to leave the four corners of your home? Or it’s even more appealing to hear that you can still render this service without these naughty and hyper kids entering your house? Don’t worry. There are many online tutoring hubs you can pour your time that is Canada-based. Two of these are Skooli and Chegg Tutors.
Skooli is a Canada-based learning company that provides tutoring for both K-12 courses and college-level classes. Your role is to follow the curriculum that they have in school and offer complimentary lessons to support their learning in the classroom. You may also assist them should they have their homework or examinations.
Skooli is strict when it comes to hiring their tutors. You are required to be a certified teacher backed up with a bachelor’s degree, master’s degree, or specialized instructor qualification. You also need to have ample experience in the teaching arena before getting accepted. Once they hire you, you will be paid approximately $25 per hour.
Another tutor-focused company is Chegg Tutors. Unlike Skooli, Chegg Tutors is open to applicants worldwide. Their approach is also different since they do not teach on a per-child basis but on a subject-to-subject basis. There are tons of classes they offer, ranging from biology to calculus, and even astrophysics.
To sign up as a tutor on this platform, you need to provide legitimate forms that will prove that you were or currently enrolled in a university. They also require you to have a Facebook account so they can use this as the primary means of communication. Once they approve your application, you will be matched with a particular child seeking help in your subject. The wage ranges from $20 to $25 per hour.
Apply As A Background Actor
Toronto is sometimes referred to as the Hollywood of the north. If you want to see yourself on the big screen, or you just want to see actors up close, then you may try to apply as a background actor. You don’t have to look too hard as there are many agencies located in Toronto that are continuously looking for extra new faces.
What’s good about this work is that you will be paid for an 8 hour day, even if the shift does not reach that limit. You will also be paid around $11 per hour should you go overtime. At the same time, you don’t have to worry about paying for anything since they will feed you during the set.
Get Rid Of Your Extra Stuff
If you feel that your house is too cramped up with junk, then why not get rid of it and earn some extra cash at the same time? You can even sell small and inexpensive items. If you’re thinking of selling it in the usual listing sites like eBay, think again. It may be an effective platform when it comes to selling, but it will eat up a lot of time to create lists and ship items. At the same time, you’re in charge of paying the service fee so your profit will go lower.
If you’re in Toronto, you may try Let Go instead. It is an easy-to-use app where you can sell your extra stuff. All you have to do is snap a photo of your time, add a quick description of its features, and name a price. Once you post it, it will automatically show up on people’s feeds.
If a user finds the item appealing and worth his or her money, he or she will reply to your ad. From here, you will get to talk with the buyer and discuss what the final selling price will be and where the pickup location is. Always remember to choose a public area when handing over the goodies. This is to ensure your safety.
Work As A Transcriber
If you are looking for a side hustle that requires no prior experience or skill, and also offers flexible hours, then being transcriber might work for you. There are clients out there in the industry who pays for people to type out what is said in audio recordings or videos. It is not simple work as it does require accurate spelling, and punctuation. It’s important to have attention to detail and it does help if you are fast at typing.
Your efforts will pay off, though. The compensation for this kind of job ranges from $15 to $25 per hour for general transcription. If your score a medical or legal transcription gig, your wage can be significantly higher. That is because the audio is more technical and there are specific jargon and terms, to be aware of.
Become A Language Tutor
Are you multilingual? Do you read, speak, or write in more than one language? If your answer is yes, then maybe you can enter you can be a language tutor. With Language Tutors Toronto, you can make around $30 to $35 per hour by having a one-on-one language session with a student. Take note that the students who seek this service have varied ages and nationalities. Therefore, make sure to cater and tailor your approach depending on the characteristics of your student.
Read the book Become a General Transcriptionist and Get Paid to Type by Nicole Dean to know more.
Buy a copy now from AMAZON.COM
Drive And Deliver Food With Uber
Do you have a car that you can use to generate profits? If you do, then you can sign up with Uber as a driver. You can use the app to look for people who need a ride. Remember that this does not have time in and time out schedule; instead, you can just offer your services in when you want in your spare time.
The pay for this service is not fixed. It will depend on the customer demand, the number of kilometers you travel, price of gas and the type of vehicle you are operating in. Nevertheless, it can accumulate to quite a bit of money.
Uber has been in Toronto for quite some time and is now a very popular option over taxis. Uber also offers food delivery service. If you become one of their food riders, you will get paid by bringing food to the users from participating local restaurants. Your pay will depend on the number of deliveries you will get through the day.
Take note, however, that Uber is strict when it comes to accepting their drivers and riders. The requirements include a 4-door vehicle that is less than ten years old. The driver must be at least 21 with a valid G license.
Become A Landlord
You can also make money by renting out your spare rooms, apartments, and houses. There are a few options here. You can sign up for an account at Airbnb to start and focus on short terms rentals for tourists who are looking for a place to stay during their vacation.
There are no requirements in Airbnb, other than to ensure the best service to your clients. The higher the score you earn on Airbnb, the more the platform will promote you. You can even go the extra mile by providing amenities such as towels, toiletries, and local tourist attraction tours to your customers.
Your other option is to purchase a property and find long term tenants. This requires less maintenance compared to Airbnb which needs ongoing cleaning between guests. However, it typically takes a bit longer to find a good tenant. The good news is that the demand for rentals in Toronto is very high and the average of vacancy rate is 0.03%. This is well below most major cities so finding a tenant should not be difficult.
There are a lot of ways to earn money in Toronto. You just have to explore your different options. Make sure that it complements your skills, needs, and goals to be able to enter the best possible financial path for you.