Easy way to make money from home

The financial impact of Covid-19 has been catastrophic. Millions of people had to adjust to pay cuts, work without incentives or, worse, lose their livelihood. The financial uncertainty brought in the need for alternative sources of income so that people would not have to compromise on their needs and aspirations. Don't you think you need a side hustle? Here are some reasons why you might want to reconsider.

Financial cushion  

Having an extra source of income can help you tide over unforeseen circumstances, which could be loss of income or a health scare, as well as issues brought on by external factors like the pandemic. A side hustle can help you cover expenses and ensure you and your family can manage comfortably without having to reset expectations or financial goals.

Empowering

Your confidence and decision-making can get a significant boost when you have some financial backing. A supplementary income could allow you to upgrade your lifestyle. You need not hold back on doing or buying things for yourself or the family due to budgetary constraints. The side gig could be the difference when it comes to sending your kids to a better school or investing more for your retirement.

On the professional front, it gives you the confidence to work on your terms without the fear of losing your job or a client. If overall financial needs are met, it can significantly impact your mental well-being and, in turn, improve your performance in the workplace.

Skill building

As rudimentary as your side hustle may be, there will be some skill sets that you can learn and hone over a period of time. It could range from qualitative and personality traits like improving your conversational, negotiation, and sales skills to something more tangible like learning to make something (art, for example), do something (coding skills or cooking) or exploring a passion (dance, music, etc.). The new skillset will have transitive benefits, in addition to generating economic value outside your job.

Financial freedom

With time and dedication, you can generate a consistent income stream from your side hustle. You can use this to plan your finances better. The resources can be used to repay loans quicker, save on high-interest costs, or fast-track different life goals by smart investing your additional source of income. In either case, an alternative career gives you the opportunity to gain financial freedom from things like debt and strained monthly budgets.

How to go about adding a secondary income source

The approach you take towards adding a side hustle depends on various factors. What are your interests? How much time can you dedicate? What do you hope to achieve? What skills do you bring to the table, and what skills do you need to develop? There will be many other personal and professional factors to consider as well.

Remember, at this point, you are not looking to replace your full-time job or business; instead, get the ball rolling with what you can explore. Over a period of time, if you can scale it up into a full-fledged business, then there's nothing like it. The best opportunities are the ones that cause minimum disruption to your current work and family time, require no specialised skill or experience, and can be managed from anywhere. And IDFC FIRST Bank has just the opportunity.

Start your journey with IDFC FIRST Bank's MyFIRST Partner Program

IDFC FIRST Bank offers an exciting and unique opportunity to help your family, friends, colleagues or acquaintances in times of financial need. There are various reasons people in your network may require a personal loan, such as to take care of an emergency, pay for hospitalisation, fund a child's education or wedding, manage business cash flow, travel or purchase lifestyle goods.

You can help them fund these goals by referring a personal loan. Not only would a personal loan be easy to access for them, but in return, you earn a loan referral amount. When you sign-up with the MyFIRST Partner Program, you make 1.5% on every referred disbursal. More importantly, payouts are weekly, which means you can manage your finances better.

Imagine a scenario where a friend urgently needs Rs 10,00,000 for a wedding.  A successful referral through IDFC FIRST Bank's MyFIRST Partner Refer and Earn Program can help your friend get the required funds, and you earn a cool Rs 15,000!

There is no limit to how much you can earn through this program. The more you refer, the more you make. There is no investment from your end or lengthy onboarding process either. Just sign-up on the IDFC MyFIRST Partner App and start your alternative career in minutes!

How to go about it?

It doesn't matter what your background or qualifications are. Any Indian citizen above 18 years of age with a valid bank account can sign-up for free for the program. All it takes is a few minutes on your handy mobile, and you are ready to start earning.

• First, download the IDFC refer and earn app from the app store.
• Register with digital images of your KYC details – PAN card, Aadhaar or passport for address proof, bank account, and IFSC details.
• Complete the registration process and receive your unique digital ID instantly.

That's it! Use the app to make referrals, track loan applications, and reap financial rewards.

What are the other advantages of becoming an IDFC FIRST Bank's MyFIRST Personal Loans Partner?

Partnering with the MyFIRST Partner Program presents opportunities to earn, learn, thrive and grow. Here are some more reasons to consider this as your side hustle.

• Receive training and support to improve your skills
• Access to a dedicated Relationship Manager who can help assist with queries or fast-track your referral applications
• Best-in-class app technology that allows you to track progress in real-time and receive timely payments weekly
• Exciting rewards and recognition programs to encourage and incentivise you to do better

IDFC FIRST Bank's MyFIRST Personal Loans Partner Program could be the perfect solution for your income needs. To know more, download the app or visit or visit our website here.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.