Side hustles can give your income a welcome boost. They’re great if you want to pay off debt faster, save for a trip abroad, or secure your finances.
The internet has become a vast space of opportunities for you to earn money on the side. Many professionals have found financial success freelancing on the side and monetizing their passions. These include writing, drawing, and even teaching others.
Service-based jobs aren’t the only side hustle you can consider. Making smart investments and selling physical products are also great ways to work toward a passive income stream.
Not sure where to start? Explore different side hustles you can try getting into below.
Freelancing and tutoring
What are you most skilled at? Because you can leverage that in two ways: freelance or tutor.
Freelancing involves finding clients who need your skills to accomplish something. These may be other brands or businesses looking for contractual workers. This arrangement provides you with excellent flexibility with your time and how you deliver on the task.
On the other hand, tutoring involves teaching your skill to others. You can establish one-on-one coaching sessions or create an online course you can create once and sell multiple times. Tutoring will establish you as an industry authority, boosting your reputation and brand.
Do you have products you can build? Or are you close to suppliers? It’s easier than ever to establish an online store to sell these. It isn’t like opening a physical store, either. The digital marketplace allows you to tap into a global customer base, potentially increasing your revenues.
A similar online sales method is dropshipping. It involves curating goods from a supplier and selling them through your store. While you’d have to have a stock of products on-hand conventionally, dropshipping doesn’t require it. You’re connecting buyers with suppliers, which you can do from anywhere.
Ridesharing and task accomplishing
Side hustles aren’t meant to take all your time, especially if you’re balancing it with a day job. The gig economy boomed during the pandemic. Struggling professionals across the globe looked for flexible and temporary work that complemented their regular salary.
There are a ton of platforms you can join to find these kinds of work. For example, if you have a car, you can become an Uber or Lyft to take people to their destinations. If you’re handy with tools, TaskRabbit is an excellent platform to offer your services to people, whether installing their TV or replacing electrical wires.
Arts or crafts sales
The idea that artists don’t earn is widely outdated. Platforms like Etsy provide a thriving online marketplace to sell your art from anywhere you are. Handmade crafts, paintings, stickers, and custom t-shirts are popular items other artists sell. Explore the platform to see what fresh art you can bring to the marketplace.
Photography or videography
Skilled photographers and videographers are highly in-demand for several reasons. For one, eye-catching visuals are essential to succeed in the attention economy. For another, professionally-shot photos and videos add tremendous credibility to a brand or business.
If people have told you that your videos or photos are always so impressive, let that be a sign to give this side hustle a shot.
Property and Real Estate
Renting out properties
Owning property or extra space already gives you massive leverage in the market when you rent it out. It’s one of the most profitable forms of passive income, especially if it’s in a prime location or has attractive amenities.
The potential for these investments is countless. If you have an extra room you don’t use, why not turn it into an Airbnb? It turns a regularly overlooked place into a revenue-generating asset.
House- or pet-sitting
Families often need reliable individuals who can watch over their pets or home while they’re away. House or pet-sitting requires attentiveness, a genuine love for animals, and responsible home maintenance. This can be a lucrative side hustle once you’re confident you have these.
Consulting and services
If you possess knowledge in a particular field, you can proposition consulting services to companies or persons seeking guidance. Your choices range from business consulting to fitness coaching.
If you’re bilingual or skilled in transcribing audio into text, there’s a growing demand for these services in various industries.
While it requires knowledge and research, investing in stocks can generate significant returns. It’s essential to educate yourself before diving into the stock market.
Investing in real estate assets can be a long-term strategy for generating rental income and building wealth.
If you have items of value that you’re not using, pawning them can provide immediate cash. However, repaying the loan within the agreed-upon time is crucial to reclaim your items.
Side Hustle Tips
Ramsey Solutions offers practical advice on managing money, saving, and finding ways to make extra income. Their guidance can help you make informed financial decisions.
Do credit cards and loans confuse you? Have you struggled with sticking to a budget—let alone creating one? NerdWallet is an excellent website that provides digestible articles and simple tools you can use to make the right financial decisions.
DollarSprout compiles some of the best ways to start earning on the side. The website has resources on simple money-making apps and side hustles, such as apps that provide incentives for answering surveys or writing reviews. They’re simple tasks you can accomplish at any time in your day, anywhere you have internet.
Seize the Opportunity and Secure Your Tomorrow
A single source of income is no longer enough. Multiple income streams provide much more stability in an uncertain world with pandemics and economic recessions. Taking on side hustles has become a highly popular way for many people to increase their income while maintaining their full-time job.
The opportunities for side hustles are boundless. Monetizing a skill or making the right investments are just a few ideas to help you get started. Getting into the gig economy or finding products to sell are also viable side hustles.
It helps to continue exploring your options. Once you begin earning from different sources, you’ll realize how much easier it will be to reach your financial goals.