Side hustles have been one of the most talked about ways to make extra money online for many years. As the cost-of-living rises, the average consumer who finds themselves trapped in the everyday 9 to 5 are finding it hard to keep up with just a regular salary. Many turn to side hustles to help them cover extra expenses and to get more of the things they enjoy. But what exactly is a Side Hustle? And are online side hustles really making people money? We conducted the study and here are the results.
What is a Side Hustle?
A Side Hustle (or a Side Gig) simply put, is another means of generating additional finances other than your main source of income. A side hustle can range from buying items for a discount and selling them on sites like Ebay or Craigslist, to owning a business offering exclusive services.
A side hustle could be considered a second part-time job for many, as they are also working a salary or wage-based job. For those that have a business that they focus most of their time operating, a side hustle is a smaller business that can be done in their spare time. There are also many mothers that turn to side hustles to generate money as most of their time is dedicated to child and home care.
Are people really using their side hustle to make extra money?
Yes! It is true that side hustles are just another method that millions of Americans are employing to stay out of the rat race. Some side hustles even started doing so well that they have made many into millionaires. Here is a list of Ten Side Hustles that have allowed many people to live more comfortably.
10 Side Hustles That Pay Well
1. Driving and Delivery Service ( Uber / Lyft & Uber Eats, DoorDash ) : Since their founding, Uber / Lyft and the popular online food delivery service DoorDash, have provided a unique and convenient service using internet technology. The ability to work on your own time and generate extra income has been a great way for many Americans to increase their budgets and save money on expenses. A qualified driver could earn anywhere from an extra 12 to 20$ an hour driving part-time with these companies.
2. Affiliate Marketing: Affiliate marketing is using your network to sell other businesses products for a percentage of the sales. The percentage is referred to as a commission. Average commissions could range from 7 to 20% but some high-end programs offer 50%. Through affiliate marketing, many social media influencers have been able to sell a plethora of products, including clothing, accessories, and a wide range of self-care products.
3. Youtube / Tik Tok / Facebook Videos: There are now thousands of Youtubers making a decent amount of dollars through recording their own videos. Youtube quickly grew to become the most successful video sharing platform around the world with millions of videos being uploaded and billions of hours being watched daily. Growing a Youtube channel providing interesting or informative content can become a profitable endeavor. Many people use Youtube to teach others how to do things they are good at, or simply to keep people in the know of many different subjects. Youtube can help build an audience that converts viewers into customers.
4. Guide Creator / Course Instructor: Many people have turned to course instruction as a side hustle in order to generate lots of extra cash flow. There are many people online who are looking for someone to guide them on different processes in the world of business and do-it-yourself ventures. You could write a guide that teaches others how to do these things. You can also start a Youtube channel or use other video platforms in order to provide video content that viewers can watch in order to learn new things.
6. Cryptocurrency trading: Believe it or not, many people have made a lot of money trading Cryptocurrency. By buying cryptocurrencies at a discount on the market and selling when the price increases, traders are able to profit the difference which can oftentimes be anywhere from 5 to 10% per week on their investments. Cryptocurrency as a side hustle should only be done with risk capital and profits are proportioned to a percentage initial investment. Seek out of a financial advisor to learn how cryptocurrency is taxed in your state.
7. Starting an E-commerce Store: Starting an e-commerce store that sells products that people want can be very profitable. More and more people are shopping online like never before. Many customers are also spending more money in the modern time buying from small businesses. With the right marketing campaign, an e-commerce store can be the latest go-to place for hundreds of daily shoppers. Providing customers with special promotions and sales could be a sure fire way to boost any e-commerce store and bring in more shoppers.
8. Doing product Reviews and Promotions: Product reviews and promotions have helped many vendors to boost their sales. Businesses often award people to provide testimonials on their products and services. Depending on the company, they may even give their affiliates free products. A product review helps companies by building the reputation and authenticity of their services.
9. Blogging: To many, a blog may just appear to be a small journal of a person’s interest and activities. A blog is an online journal that can contain just about any form of content. It’s a personal website or periodical that gives detail about the things you are experienced in or interest. A blog could also be a business publication that gives detailed information about professional operations. Blogs can feature articles, market products, give detailed instructional guides or courses, host photo and video content and just about anything you can think of. Blogs help readers to understand more about the things they love.
10. T-Shirt / Clothing Line: A clothing line is one of most creative ways to showcase your talent while providing others with one of the basic needs of life. Independent clothing brands have skyrocketed with the help of the internet by providing online shoppers with a wider range of unique designs to choose from. Independent clothing brands provide authentic and on demand service while giving its customers boundless ways to add style to their wardrobes. You’ve probably heard many influencers mention famous fashion brands like Black Lapel or Fashion Nova, but there are many clothing brands that have turned into multimillion-dollar empires.
That’s 10 Side Hustles that have helped millions of Americans bring in additional income. Using a combination of promotion and media, any of these methods can potentially help you to earn extra money. What are your favorite side hustles? Let us know in the comments.