South Africans are nothing if not entrepreneurial. We’re quick to spot a gap in the market, and creative in filling it.

It’s a good thing, too, because extra income can make a real difference not only in making ends meet, but in realising your goals. In fact, if it weren’t for pet sitting, babysitting and freelance gigs, the journey to my own financial goals may have looked quite different.

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Diversification applies to income, too. Besides the financial benefit of pocketing some extra moola, it has protective benefits, too. Remember how diversification in investing helps guard against turbulence in the markets? The same can apply to earning an extra income. For example, a retrenchment from your day job can be buffered financially by the other two income streams.


Now that we know the reasons earning an extra income is a smart call, here’s a list of ways you can do it in South Africa:

  1. Start a small business
  2. Invest
  3. Rent out part of your property
  4. Turn your talents into a service
  5. Sell your pre-loved items
  6. Set sights on a salary increase

1. ♟️Start a small business

It’s for you if…

… you believe so strongly in your idea, and yourself, that little can dampen your tenacity, says Kgomotso Jafta, junior marketing manager at Franc and founder of local sustainable fashion brand Motso.

A resilience that can endure the highs and lows (both of which *will* be in copious supply), a hustler’s heart, and creativity that makes you stand out in the market are essential ingredients for making this work for you.

What does it take?

Get to know the market. Like, really know it. 🤓

“I did a lot of research, spending more hours than I care to admit exploring sustainable fashion markets worldwide,” shares Kgomotso.

Fortunately, her accountant friend could be roped in to help support and organise her business finances so she could better understand expenses, taxes, overheads etc.

She also chose to save to fund the business. “Save up for your dreams, whether it's padding your income from that nine-to-five, or leveraging your incredible skills,” she suggests. “Sleepless nights over debt? No, thank you!”

Time needed

A new business is like a new baby: time-consuming, demanding and messy. “I'd clock at least four hours daily, in addition to my day job,” shares Kgomotso.

She opted for e-commerce, and used Squarespace, eliminating many of the smaller hassles of setting up shop online. “A bunch of things were already automated, with templates for emails to buyers, invoices, you name it.”

📖 We dive deeper into the fundamentals of running a small business with entrepreneur Nicolette Mashile in this blog post.

2. 💸 Invest

It’s for you if…

… you’re looking for extra passive income courtesy of compound interest. We recommend building an investment portfolio as part of a well-rounded financial plan.

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Need a refresher on compound growth? Learn more about the power of compounding in this Franc Academy lesson.

What does it take?

Explore investing in a unit trust, fixed deposit or, for more short-term investing, the money market. There are many different types of investment funds for you to choose from.

Time needed

Unless you are personally involved in brokering stocks, the time commitment for investing is minimal – it just requires some research, financial goal planning and setting your investment up. When you invest through the Franc app: we commit to having you set up and ready to make your first investment in 2 minutes.

📖 Read about why investing beats saving in this blog post.

3. 🏡 Rent out part of your property

It’s for you if…

… there are unused sections of your property that are occupation-ready, in an in-demand area, and you’re comfortable taking on tenants to help housing costs, or improve cashflow.

What does it take?

Research the demand and determine whether what you have to offer can satisfy it for a cost, i.e. “Would someone be willing to pay good money to live in my space?”

Get your property market-ready with some professional photos and a listing covering your unique selling points (USPs). Then, let the viewings begin!

Time needed

Provided you’re not letting out a portion of your property furnished, and your tenants are reliable (read: pay rent on time), the time commitment can be minimal, save for the occasional repair.

4. 🧑‍🍳 Turn your talents into a service

It’s for you if…

… you’re the home cook the whole street has been nudging to start a catering business. “Whether your talents are in the kitchen or fixing things around the house, creating unique services could be a way for you to generate an additional income,” says Aron Samuels, aka The Wealth Coach.

What does it take?

“Play to your strengths and identify where there are demands in your local area,” says Aron. Cost your tools and overheads, think about marketing channels, and test-drive your service with some trusted friends.

“Start small, get feedback and keep adjusting till you find an approach and service that works for you,” adds Aron.

Time needed

It’s one of the more time-consuming routes for earning an extra income, and many evenings and weekends may need to be sacrificed.

Fortunately, your service will be the talk of the neighbourhood and market itself, so you can focus on the execution and decide which services you can specialise in based on your capacity.

5. 📦 Sell your pre-loved items

It’s for you if…

… you have an enviable wardrobe or home decor, but are ready to part with some pieces.

With platforms like Gumtree, Facebook Marketplace, Instagram, Yaga and WhatsApp for Business, finding a new home for your well-cared-for items has never been easier.

What does it take?

Snap, upload, post and … ka-ching!

Posts with focused, well-lit photos showing authenticity markers (where applicable) and including important specs tend to get the most interest and bring you closer to a serious buyer.

Time needed

You can choose how much of your time to dedicate to marketing and trading. Clearly communicate to prospective buyers the channels you prefer to be contacted on, and during which hours.

6. 🪜 Set your sights on a salary increase

It’s for you if…

… you’re employed and ambitious about climbing the career ladder.

What does it take?

Advice my old manager once gave me was that increases are not awarded for doing your job. They’re awarded for going beyond what is expected of your role.

Fill your manager in on your plan to get a salary increase. Ask what measurable goals you need to set sights on so that you can position yourself to motivate for it, having put in that extra work to deliver on those goals.

Time needed

Find out about the performance review cycle at your company, and make your intentions clear about your performance being assessed through the lens of a pay bump or even promotion in the next 6 to 12 months.

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Let your investment fund feel the excitement of your salary increase. Lifestyle creep is real, but you won’t regret investing some of your increased salary. Set a goal and strategy, and keep track of your progress, with the Franc App’s easy-to-use features. It’s the best way to make your hard-earned increase work even harder for you.