The best side hustles to consider include food delivery, online tutoring, and renting your home on Airbnb.
It’s always a good time to get a side hustle. When the economy is good, people will spend extra money on extra luxuries. When the economy is bad, you can work hard, expand your skills and strategize on future ways to make some money. Having a side hustle is getting more and more popular because not only can you make extra money, you can test the waters and try new things to see what you’re capable of.
According to Millennial Money, side hustles help get to retirement that much faster and work on other passion projects to try new things out. This can then lead to more projects. When you make some extra money you can invest that and fast-track your way to the good life. Now, there are incredibly large amounts of side hustles because of the advent of food delivery apps thanks to the COVID-19 pandemic.
The top side hustle is, in fact, making deliveries. Whether through food apps like Uber Eats or DoorDash you can make some decent cash and work while having a little bit of freedom. Another popular one is being a freelance worker, such as graphic design or web development. You don’t have to go to an office, but you can stay home, sit with your laptop and create some beautiful things for the world to see.
Another side hustle is to rent your home with Airbnb. However, with this option, you must invest in making sure your property is maintained and that you carry enough insurance. AbirBnb is indeed passive income, but you’ll spend a lot on home upkeep.
If you’re good at speaking and writing, you can offer your services as an online tutor. There are plenty of websites where students come looking for someone to help them with their studies. You can choose the hours that work best for you. Also, if you want to stay indoors, you can always trade stocks or do some online marketing.
With social media having such an impact on buying behavior, brands see this as lower-cost advertising. If you can choose a brand and then become an influencer for them, you can help them spread the word to their target audience. This could be very lucrative for you if you have a large following and good engagement on your social media channels.
In a recent study, millions of people have a side hustle to help boost their income. According to research, the main motivation for Americans to start a side company or already have one is to make extra money (62 percent). However, 37% did so in order to follow a passion, and 41% did so in order to spend more time doing what they enjoy.
The same study showed that people who pursued a side hustle had more control over their finances. They felt more financially secure and were happier with their overall financial situation. This could be due to the freedom that comes from having multiple sources of income and being able to better manage expenses. It could also be because they are doing something they enjoy, and that gives them greater satisfaction than just earning a paycheck.