Funding Your Dream Wedding: Finding and Managing a Side Gig
Dream weddings, as exciting as they are to plan, can be painfully expensive to fund. This is especially so if you have good taste and want everything – from the venues and decor to attire and food – just so. If you happen to live in New Jersey, you have an added disadvantage – it’s the second-most expensive state to have a wedding in the United States!
Unless you’re very wealthy, you’re going to have to save for your dream wedding. Or you could find a side gig, generate an extra income, and put it all into your wedding fund. With the right side gig, you could make a significant amount in a handful of months.
Below, New Jersey Job Market offers some tips on finding and managing a side gig that could help you fund your dream wedding:
Start by assessing your marketable skills
Your marketable skills are the ones that can make you money in the job market. Knowing your skills is what will help you find an opportunity that aligns with them. How do you assess your skills? CareerAddict offers practical suggestions – taking an aptitude test, looking at your educational qualifications, examining your interests, and asking people for feedback.
Discover the best types of side gigs
The best type of side gig for you will depend on your available free time, skills, aptitude, and interests. It’s a good idea to research the job market in New Jersey to look at the latest trends. Here are some popular side gigs right now:
- Freelancing: If you have polished skills like web design, foreign languages, marketing, or project management, you could get a freelance gig on an online platform for a few months.
- Ridesharing and delivery: If you enjoy driving, ridesharing apps like Uber allow you to make a good income. You could also choose to deliver products, like food or flowers, instead of passengers.
- Retail or restaurant gigs: Retail and restaurant jobs, although they don’t always pay a lot, are comparatively easier to come by. They also offer benefits like flexible schedules and employee discounts.
- Tutoring: If you’re well-versed in a certain subject, you could offer lessons. It’s possible to do so online from home. If you aren’t confident teaching adults, you could teach kids.
Find a side gig
Next, it’s time to find a side gig. You should follow the usual tried-and-tested process: looking online, networking, advertising yourself, approaching any companies you like, and applying to job listings. NJ Job Market offers a variety of jobs across countless industries and niches. They also offer resources to help you find good gigs, from career assessment to interview prep.
Understand the tax implications
Keep in mind that any new money you make, on top of your regular income, will be taxed after the first $400 profit. That means you should only put money in your wedding fund after you’ve accounted for the tax due. You may have to pay quarterly taxes and, depending on the nature of the gig, comply with other tax regulations. If you aren’t sure about anything, don’t hesitate to consult with a tax specialist.
Start a business
Owning a business is possibly the best side gig there is. You can set your own hours, take on as much or as little work as you want, and be your own boss. To get started, you need a business idea, some seed money, and an initial business plan. Forming a business entity, with a unique name, will make you seem professional and credible (not to mention comply with local regulations). Know the filing rules, fees, and other requirements in New Jersey before filing the paperwork. For instance, you have to make sure your entity’s name isn’t already in use.
Use lead generation techniques to find new customers
Finding a steady stream of new customers is essential to making your new business successful. One of the best ways to have a steady supply of customers is through lead generation, which is a marketing strategy to help you identify and nurture potential customers for your product or service. Any specific lead generation technique you choose should fit your industry and audience.
Content syndication is an example of a lead-generation technique that is relevant to most niches. It involves you putting content on third-party websites, with their own networks, to attract new audiences interested in the content. Live events and webinars that you’ve sponsored or are hosting yourself, on a subject matter you’re familiar with, are good examples of other solutions related to lead generation.
Manage your time effectively
Planning a wedding is nothing short of a full-time job – and you probably have a main job and, now, this side gig on top. You’ll have to manage your time effectively to see to your obligations without dropping the ball on something important. You can use time-management apps and scheduling tools to be more organized and efficient. Also, you can work with other professionals and freelancers if you get stuck or need a helping hand.
Conclusion
Finding a side gig will allow you to have the wedding of your dreams without cutting corners and, better yet, going into debt. The right side gig could even turn into a long-term income stream, something to nurture after your wedding. Whether you’re starting a side gig or business, make sure you comply with the legal regulations to avoid headaches down the road.
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