There are many potential benefits to having a side hustle, some financial and some not. Side hustles can help you save more or as a means to open up new avenues to something that more suits you. We at StudyFinds read through several different expert sources to come away with the top seven best side hustles you can add to your cash flow.
If you’re looking for ways to boost your income, develop new skills, or simply pursue your passions, a side hustle may be a rewarding and enriching addition to your life. Thanks to six money experts, StudyFinds has compiled a list of the best side hustle jobs out there. We want to hear from you! Comment below to let us know which other careers you think belong on the list!
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The List: Best Side Hustles, According to Experts
1. Freelance Writing
Do you have a way with words and love to write? If so, freelance writing is a simple side hustle. USA Today recommends working for websites such as Upwork, Flexjobs, Texbroker and Fiverr for freelance writing gigs. It’s easy to get started at these sites as well — all you have to do is set up an online profile and then begin searching for work.
When you freelance write, you have many options like blog posts, web copy, technical writing, and more. Millenial Money Man says freelance writing is great as a side hustle if they love storytelling.
When it comes to freelance work, you aren’t restricted to writing. You can do just about anything there is a demand for. Millenial Money Man recommends using Fiverr because the platform allows people to grow their freelance practice and helps them make more money.
2. Pet Sitting
Being a pet sitter is a really great way to earn a little extra cash. It’s kind of like babysitting without having to entertain little ones or change diapers. Plus, it is a great way to experience a change of scenery and take a stab at pet ownership without commitment. Rover is an example of a platform dedicated to connecting pet owners with pet sitters in their area. Millennial Money Man reveals the platform helps people find clients, and you can list your services on social media as well.
These days, people treat their furbabies as members of the family. With a growing demand to find someone to take care of their pets, there are numerous pet-sitting apps to offer your services to. Shopify says, on top of Rover, others to use include Wag!, PetSitter.com, and PetBacker.
A pet-sitting side hustle is obviously ideal for animal lovers and easy to set up and promote. Forbes notes that there are some states and municipalities that require permits, so make sure you do your research.
3. Blogging
Blogging has the highest earning potential on our list of the best side hustles — if you stay dedicated. Even though it can be a slow business model, Millennial Money Man says some people are able to turn their blog into a seven-figure business they run just from their laptop. The earlier you start, the higher the potential is for success.
Squarespace is an option to create your blog for its user-friendly interface and built-in tools for optimization and analytics. Time warns starting a blog isn’t some sort of quick-rich scheme, that it will take time to build and monetize. If you’re willing to put in the effort, starting a blog might be the best bet for you.
If you start a blog, focus on a niche that interests you, such as travel, food, beauty, or fashion. Forbes writes, by doing so, people can start monetizing their blog when their traffic grows. You can earn money on ads and affiliate sales. Even if someone clicks on an affiliate link, bloggers can get paid a commission if the buyer completes a purchase.
4. Tutoring
Teaching is one of the most rewarding professions, and with online platforms that exist today, it’s easy for anyone to tutor students online. According to Shopify, student freelancers start tutoring while they’re still in school. The test-prep market is expected to grow at a rate of six percent annually until 2027.
With remote learning being so prevalent now, online tutoring is, too. Time recommends signing up on tutoring platforms to connect to others and also offer your services to your contacts on social media, as well.
You can market in-person and virtual instruction services to parents looking for convenient sessions for both kids and adult students. Forbes notes many adults who want to expand their horizons often attend tutoring sessions during school hours.
5. Taking Online Surveys
With Survey Junkie, for example, you earn points for each survey you complete, and 100 points equals $1. According to Millennial Money Man, people can request a payout once reaching 500 points. Users are able to cash out with PayPal cash, a bank transfer, or gift cards.
Countless companies and market researchers want to know what people think of their products and services. Shopify notes that similar to Survey Junkie, websites like Branded Surveys and Swagbucks also offer people money to take surveys. You won’t be making the most money, but it can pad your wallets and purses for the weekend.
As of Feb. 2023, the average hourly pay for an online survey taker in the United States is $26.14. Time notes that Survey Junkie pays over $55,000 to its members daily. People can make as much as $100 monthly for completing three surveys or more daily.
6. Delivering Groceries
With how convenient it is, more people are turning to on-demand grocery delivery services than ever before. USA Today recommends people signing up to deliver on apps like Instacart and DoorDash. The online application takes about 15 minutes to fill out.
The best part of working for an on-demand grocery service, according to Millennial Money Man, is you can set your own hours and cash out weekly.
More and more people are making money during their free time by delivering food. Time also recommends checking out delivery services like Uber Eats, Mealeo, and Grubhub.
7. Renting Your Home
More and more people are renting their home — or part of their home — for extra dough. Doing so can help people pay the bills and save money, says Millennial Money. If you want to maximize your earnings, going through Airbnb might be the best way to go. Airbnb is the most common way to rent out your home, but Shopify suggest some additional options like Vrbo, Agoda, or Plum Guide (UK only).
If you’re considering renting out your home, don’t forget to check with your home insurance provider on what coverage you have for renting your home. Time also reminds to explore your home warranty options to save on repair costs.
Benefits of side hustles:
Financial Benefits:
- Increased income: This is the most obvious benefit, as a side hustle can bring in extra money to help you:
- Pay off debt faster
- Save for future goals like a down payment on a house, a vacation, or retirement
- Cover unexpected expenses
- Increase your overall financial security
- Diversification: Relying solely on one income source can be risky. A side hustle can diversify your income streams, providing a safety net if you lose your main job or experience income fluctuations.
- Tax advantages: Depending on your side hustle and income level, you may be eligible for tax deductions or credits, further boosting your financial gain.
Non-Financial Benefits:
- Skill development: Starting a side hustle allows you to learn new skills, build your expertise, and explore different career paths. This can be especially beneficial if you’re feeling unfulfilled in your current job or want to make a career change.
- Creativity and fulfillment: A side hustle can be a creative outlet, allowing you to pursue your passions and interests outside of your main job. This can lead to increased satisfaction and a sense of fulfillment.
- Flexibility and control: Side hustles often offer flexible schedules and work arrangements, allowing you to control your working hours and workload. This can be ideal for balancing your job, family life, and other commitments.
- Networking and opportunities: Engaging in a side hustle can expand your network, connect you with new people, and lead to unexpected opportunities like collaborations, partnerships, or even a full-time career shift.
- Boosted confidence: Successfully running a side hustle can be a confidence booster, demonstrating your abilities and entrepreneurial spirit. This can positively impact various aspects of your life.
Of course, there are also potential drawbacks to consider, such as time commitment, stress, and potential tax implications. It’s important to carefully weigh the pros and cons before deciding if a side hustle is right for you.
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Note: This article was not paid for nor sponsored. StudyFinds is not connected to nor partnered with any of the brands mentioned and receives no compensation for its recommendations. This article may contain affiliate links in which we receive a commission if you make a purchase.
