Side hustles have become a popular discussion in personal finance as a way to increase income and decrease the amount of time it takes to reach your financial goals. With all the different side hustles out there, how do you know which one is for you?
One of the first factors in determining your side hustle is how much time you can commit. Can you sit down for long stretches of time, or are you only able to work in spurts here and there? Being able to work longer stretches means you could work a part-time shift somewhere, while occasional spurts here and there mean you’ll probably need to find a gig-based side hustle.
Your skills may also play a role in what type of side hustle you want to do. If you’re creative and crafty, you may find that creating an Etsy shop and selling your goods is a lucrative experience. Offering guitar lessons, creating a blog, writing an ebook, offering lessons in another language- whatever skills you have that others may be interested in paying for.
Other factors related to lifestyle may affect what type of side hustle would work best for you. For instance, if you work a creative job 40+ hours a week, you may not have the mental bandwidth for creating and maintaining your own blog. On the other hand, if you could use some creative fulfillment in your life, you may find that’s the perfect side hustle for you. Hobbies and other interests can also inform this decision, for instance, if you’re interested in fitness, finding a part time job at a gym or becoming a personal trainer could be a great way to make extra money.
Don’t have a grand vision of what your side hustle should be? Here are ten ideas that just about anyone can implement:
**Remember to read up on local and business regulations before beginning any sort of business or side hustle (like looking at your lease before renting out spare space, making sure your side hustle doesn’t interfere with your full time work agreement, etc).
- Find a part time job. From working at your local bookstore to being the weekend receptionist at a local medical practice, a local part time job might have you going to a specific location at set days/times but may offer additional perks like retirement accounts, ability to buy into health insurance, or a sweet product discount.
- Babysit or petsit. Taking care of people or pets is not only something that is flexible but if you love kids or pets, may allow you to spend more time with them. Listing yourself with a local parent Facebook group or on a national website like Rover.com may increase your visibility beyond the friends and family who know you do this.
- Do ‘one and done jobs’ listed online. Whether you can design Facebook graphics or put together furniture, there are websites where you can list what you do for a set fee and have people find you. Fiverr is more for digitial goods while TaskRabbit is more local services. Larger sites like Facebook and Craigslist can be a combination of virtual or in person help.
- Rent your spare space. If you have spare space that you aren’t using, you can rent it sometimes (or all the time) using websites like Airbnb and Hipcamp that allow users to search for specific types of space at specific times. LiquidSpace is a great resource if you have extra office space (even if it’s just one desk).
- Perform tasks for companies. Large companies often need tasks done that require a specific demographic or skill set. Amazon Mechanical Turks, for example, might have you mark up the invoice numbers and totals of receipts or Swagbucks may have you take surveys.
- Selling unused goods. Whether you sell clothes on Poshmark or DVDs on Decluttr, there are tons of sites allowing you to sell non-brand new items for cash. And if you get really good, you can do this for other people you know for a percentage of the profits.
- Making or sourcing products. Retail, online or off, involves selling things for a non-profit. Whether you are selling handmade scarves on Etsy or copies of your self published book on Amazon, there are lots of platform that’ll let you sell goods online.
- Repurpose your car. Working for a driving service like Uber or Lyft is one way to use your car to make money in your spare time. You could even rent your car out on Turo or start an errand service.
- Join affiliate programs with companies you like. Many companies have affiliate programs, which give you a set amount or a percentage when you make a sale. A popular program is Amazon Affiliates but other companies like Warby Parker and Dropbox also offer affiliate sales commissions.
- Become a teacher. Whether it’s teaching adult ed or teaching foreign students English online, chances are you have something you can teach other people. Certain companies or websites teach certain subjects or specialize in certain audiences, while general sites like Udemy teach a variety of subjects.
This is just to get you started. The idea with a side hustle is it can look however you want while it brings you extra income.
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