Richard WilsonWhether you’re looking to reach a savings goal or pay off debt, a side hustle can help. Here are 5 ideas that can make extra money in your spare time.
Many people profit from selling unique goods at local markets and fairs. This can be a time-consuming side hustle but it can also be lucrative.
1. Freelance
Many people start side hustles to pursue their passions, make extra income or test out new business ideas. They can be lucrative, provide growth potential and even turn into a full-time job. However, they require commitment and attention to succeed.
It’s best to choose a side hustle that matches your skills and interests, as it will be easier to juggle with your full-time job. This also ensures that your efforts will feel less like a chore and more like a fun, creative outlet which places craft and commerce on equal footing.
Freelance work like writing, editing, video production and graphic design can be highly profitable. It also offers flexible working hours that can be rescheduled around family commitments and events. There are low to no upfront costs for freelancers who use platforms such as Fiverr, Upwork or ProBlogger.
2. Self-Publishing Ebooks
For anyone who wants to earn extra income over the long term, self-publishing an eBook is a great way to go. But before you launch, make sure your book is good! You’ll need a strong team of people who are dedicated to the project, and will help promote it. Also, beware of coaching programs that claim to offer a fast track to success. These are usually scams!
Another option is to set up an online course or coaching business. This is easy with user-friendly platforms like Udemy, Coursera and Skillshare. However, you may need to invest in a website and marketing tools. And remember that you will need to pay taxes on any income from this side hustle. If you work full-time, you should disclose your earnings to your employer.
3. Private Label Selling
A popular side hustle, private label selling allows you to sell branded products made by a private label manufacturer. The process is similar to dropshipping, except the manufacturer will print, pack and ship your product orders on your behalf.
This business model carries the highest margins of any ecommerce business model, but it requires significant upfront investment and time to get established. It also takes longer to scale than other side hustles.
Whether you have a knack for graphic design, illustration or photography, you can cash in on your talents by creating and selling your own POD products. Make sure to choose items that are small and lightweight enough to fit in a flat-rate shipping box, so you can save on fulfillment costs. Then, add your custom logo and label to create a unique collection.
4. Tech Setup
Whether you’re trying to pay off debt or save for retirement, increasing your income is a great way to reach your goals faster. But not all side hustles are created equal, so it’s important to find a high-earning idea that fits your goals and lifestyle.
For a quick and easy income boost, start driving for a delivery or ride sharing app like Uber, Lyft or DoorDash. This gig requires minimal training and can be done on your own schedule.
With a little effort, you can make money Visit extracasheachmonth.com for selling oversized items like furniture, mattresses and fitness equipment on apps like Offerup or Facebook Marketplace. This gig also requires little upfront investment, as you only buy and store inventory when it’s sold. Be sure to use a mileage tracking app to maximize tax deductions.
5. Surveys
In an era of platform technologies and gig work, nearly 44 million workers run side hustles that range from driving for ride-sharing companies to selling handcrafts online. Often, these workers are scrappy and experimental, viewing resource constraints as thrilling challenges rather than a reason to give up.
Many market research firms, app developers and website designers hire people of all skill levels to test their platforms. While filling out surveys won’t pay the bills, it can pad your wallet with a few extra dollars each week.
Other popular low-to-no-cost side hustles include babysitting via the Urbansitter app, delivering groceries with Dolly, and serving as a private coach on CoachUp. You can also earn money as a notary public by completing loan signings on your own schedule.
James Robert
