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40+ Best Side Hustle Ideas: Fast Ways to Make Money in 2023

Brian Winch makes over $50,000 every year simply by picking up trash.

Sounds crazy, doesn’t it? 

Smart hustlers are working lucrative side gigs to meet their financial goals. Because let’s be honest—we’ve all felt like our full-time jobs are sometimes just not enough. (My boss is probably reading this. But for the greater good, right?)

You’re probably in the same boat and need a side hustle to save up, pay back debts, or just meet daily expenses. No matter the reason, there’s a suitable side hustle out there for you! 

List of 40+ Side Hustle Jobs And Their Hourly Pay in 2023

study by Preply.com found that working a side hustle for just 10 hours a week can earn you an additional $10,701 a year. 

But let’s talk more numbers.

Here’s a breakdown of over 40 side hustles and their average hourly earning potential (from highest to lowest):

Side hustle idea Earning potential
Rent out baby supplies $172–$227
Rent your pool $30–$60
Write an ebook $30–$40
Advertise on your car $25–$28
Proofread $21–$35
Flip websites $20–$29
Rent on Airbnb $20–$228
Own a vending machine $20–$28
Babysit $20–$25
Start a YouTube channel $19–$29
Deliver packages on Amazon Flex $18–$25
Start a food truck $17–$25
Become a bookkeeper $16–$25
Write resumes $16–$24
Start freelancing $15–$66
Tutor online $15–$38
Become an Instagram influencer $15–$20
Work for DoorDash $15–$20
Rent out your car $15–$19
Become a life coach $14–$150
Start a podcast $14–$30
Test apps and websites $13–$41
Rent out storage space $13–$19
Start a drop-shipping business $12–$28
Become a virtual assistant $10–$26
Transcribe $10–$26
Start a blog $9–$43
Walk a dog $9–$22
Work as a substitute teacher $9–$20
Become a voice-over artist $5–$100
Clean parking lots $5–$21
Resell textbooks $5–$20
Sell your photography $5–$15
Have a garage sale $5–$15
Review legal cases online $5–$10
Sell printables on Etsy $2–$100
Take online surveys $0.50–$2
Get paid to workout $0.10–$0.50
Watch videos online $0.05–$2.50
Sell your data $0.05–$0.50

 

Sources: Glassdoor.com, Payscale.com, Salary.com, Indeed, and the Bureau of Labor Statistics (BLS). 

40+ Best Side Hustle Ideas 2023: Quick Ways to Make Money

To help you navigate this list, we’ve divided the side hustles into 11 categories:

Side hustles from home

Some of the best side gigs you can take a stab at from the comfort of your living room. 

1. Become a virtual assistant

Earning potential: $10–$26/hour

As a virtual assistant, you’ll work remotely and usually part-time—perfect if you have limited availability. You’ll handle various tasks, from scheduling appointments, organizing emails, arranging travel, and handling social media channels

Pros:

  • Access to a flexible work schedule.
  • You only require basic computer proficiency for this gig.

Cons:

  • Steep initial learning curve.
  • Usually involves doing mundane, repeated tasks. 

Get started: 

2. Transcribe

Earning potential: $10–$26/hour

As a transcriptionist, you’ll listen to recorded video or audio files, and type what you hear word-for-word. The audio or video files are varied. But they usually include material from focus groups for market research, phone calls, Zoom calls, interviews, meetings, and more.

To ace this job, you must have fast and accurate typing skillsstrong listening skills, language skills, and the ability to multitask.

Pros:

  • Ability to work from anywhere. 
  • You can accept and turn down projects as you wish.

Cons:

  • Transcription contracts are usually short term and come at irregular intervals.
  • AI (Artificial Intelligence) software like Otter.ai are steadily taking over human transcription jobs.

Get started:

3. Test apps and websites

Earning potential: $13–$41/hour

You’ll evaluate new applications, programs, and software to ensure they function correctly. Apart from uncovering functionality defects, you’ll also check for visual appeal and consistency.

Websites like User TestingUTest, and Enroll will pay you to test websites and apps. Take a few practice tests, and you can earn once you qualify.

Pros:

  • You won’t need in-depth programming knowledge.
  • You get to nitpick other people’s work (a dream job, if you ask me!).

Cons:

  • Some websites will only let you test a few times a week, reducing the earning potential.
  • The tasks can get repetitive.

Get started: 

4. Start a podcast

Earning potential: $14–$30/hour

Podcasts are becoming widely popular—Demand Sage said in June 2022 there were over 2.4 million podcasts with over 66 million episodes between them

Most podcasts make very little profit initially, but podcasting can be a lucrative side gig if you consistently create quality content, stick with it, and engage your audience. 

Pros:

  • Starting a podcast is fairly easy. All you need is a computer or smartphone, recording software, and an internet connection.
  • Since this is digital media, you’ll be able to track your listenership accurately.

Cons:

  • It may take you a while to find the right audience and understand what they like.
  • You may find that securing advertising opportunities for your podcast can be challenging in the beginning.

Get started:

Easy side hustles

Working super hard isn’t always a prerequisite to making good money.

Here are a few side hustles that are relatively easy to take up.

5. Rent out baby supplies 

Earning potential: $172–$227/hour

You read that right. Renting out baby gear can be a lucrative side hustle, and a thriving home business. So, if you have some baby products lying at home, now is the time to maximize your profits. 

But why on earth would any parent want to rent baby products? There are many scenarios where parents turn to renting, but one of the most common situations is renting baby products in a vacation destination, away from home. 

Platforms like BabyQuip let you become a quality provider and help traveling families by renting and delivering baby equipment.

Pros:

  • Like renting out anything else, you’ll have to do some minimal daily work.
  • Platforms like BabyQuip provide liability insurance, protecting your products against damage.

Cons:

  • Renting platforms usually charge a high upfront fee and a high commission rate.
  • You may face steep competition if you choose to start your own rental business.

Get started:

6. Rent out your car

Earning potential: $15–$19/hour

Your car costs you while it sits in your driveway, but you can leverage it to create a money-making stream. Apart from the typical car rental model, peer-to-peer car-sharing platforms are on the rise. 

App-based marketplaces like Getaround and Turo claim that listing your car could earn you up to $10,000 a year. 

Pros:

  • The folks renting out your car are usually pre-screened.
  • Most car-sharing services will give you comprehensive collision coverage.

Cons:

  • You may have to deal with increased car maintenance costs.
  • There’s a chance you’ll lose your insurance if you’re participating in car sharing.

Get started:

7. Rent out storage space

Earning potential: $13–$19/hour

What if we told you your garage could pay for your groceries?

That’s right. If you have additional unused storage space, you can rent it out to make side money. Platforms like Neighbor and Store At My House let you list your storage spaces, and find potential renters. 

Pros:

  • Demand for storage is usually always high.
  • Storage spaces need less maintenance than a car or a vacation home.

Cons:

  • You’ll have to trust strangers to look after your space.

Get started:

8. Watch videos online

Earning potential: $0.05–$2.50/hour

This one’s as easy as it gets. You get paid to watch videos and advertisements. Platforms like Swagbucks have a large inventory of paid videos, and no minimum withdrawal amount. 

Other websites like Animation Arena pay you to watch and review movies.

Pros:

  • Watching videos can pass off as a leisure activity, so you’re under no work pressure at all.

Cons:

  • You’re not going to make a lot of money with this one, so look away if you’re hoping to make serious money.

Get started:

9. Sell your data

Earning potential: $0.05–$0.50/hour

Companies pay big to access your personal information, so why not sell it and make some extra cash?

Platforms like Nielsen Computer and MobileXpression let you do just that. You simply have to install an app that studies your unique internet usage, and claim rewards in exchange. 

Pros:

  • No additional effort on your part, apart from installing an app.

Cons:

  • Apps usually pay in vouchers instead of actual money (this doesn’t really help your savings plan).
  • Some customers say it’s difficult to access rewards on some occasions on these apps.

Get started:

Online side hustles

Here are a bunch of side hustles you can do online:

10. Start a blog 

Earning potential: $9–$43/hour

Blogging can be a profitable online gig. Your startup costs are usually low, and the work involved is flexible. You can monetize your blog through affiliate marketing, sponsored posts, and selling products.  

Buying a domain from the get-go for your blog is ideal. You want to be prepared for if and when you go viral! Bluehost can help you build the blog of your dreams, with great design templates and data security.

Pros:

  • Low-cost investment.
  • Increased work flexibility.

Cons:

  • Not the most steady flow of second income.
  • Steep competition across different blog categories.

Get started:

11. Become an Instagram influencer

Earning potential: $15–$20/hour

Take a peek at Instagram’s top man—Adam Mosseri’s Insta page—and you’ll notice that the platform is going all out to help influencers monetize their Instagram accounts (they even have subscriptions!). 

Now’s a great time to consider becoming an influencer. If you have a passion that you can translate into quality visual content, Instagram may be a great money-making stream for you.

Pros:

  • Influencer marketing has grown to create multiple revenue streams for influencers.
  • Low initial investment.

Cons:

  • Not everyone on Instagram is an influencer. And not every influencer makes money.

Get started:

12. Start freelancing

Earning potential: $15–$66/hour

Upwork’s Freelancing in America study says 54 million people are freelancing in America.

A big reason for this uptick is businesses’ affinity to hiring more freelancers, as it’s more economical than hiring full-time employees. 

Use platforms like Fiverr and Upwork to create a work portfolio and get hired instantly by clients. 

Pros:

  • Control over who you work with and what you do.
  • A chance to create multiple sources of income.

Cons:

  • Inconsistent work opportunities.
  • You’ll have to work in isolation.

Get started:

13. Write resumes

Earning potential: $16–$24/hour

People are always looking for work, but not everyone can craft a banging resume. You can do it for them, and for good money. Platforms like Flex Jobs have lots of listings for resume writer roles. 

Pros:

  • You only need basic writing skills.
  • Has the potential to become a full-time job that pays well.

Cons:

  • You may encounter clients who are very demanding. 
  • Can get monotonous after some time.

Get started:

14. Take online surveys

Earning potential: $0.50–$2/hour

Data is money. Apart from selling your data, you can also fill out simple surveys to make side money. Platforms like  InboxDollarsOpinion Outpost, and LifePoints, pay for information. 

Pros:

Cons:

  • Some surveys may have specific demographic requirements.
  • Low potential earning.

Get started:

Side hustles that pay well

Here’s a list of high paying side hustles you can consider:

making payments on a cell phone

15. Become a DoorDash driver

Earning potential: $15–$20/hour

DoorDash is growing fast in the US, and is creating an immediate need for drivers. This can be a great side hustle opportunity, because you get to work as an independent worker or freelancer for DoorDash. This means that you have full control of your working hours.  

Pros:

  • You can choose whether to accept orders, and find demand near you.
  • Apart from base pay, tips and promotions fetch you more returns.

Cons:

  • Has a complete list of qualifications, including age, insurance, and background checks.

Get started:

16. Drive for Lyft or Uber

Earning potential: $19–$30/hour

Lyft and Uber both help customers hail a ride with their smartphones. And these popular brands are hiring drivers by the minute. Depending on your location and the amount of time you’re willing to spend on this, driving for Uber or Lyft can be a lucrative side gig.

Pros:

  • You’re your own boss. And you get to decide your work hours.
  • Usually consistent flow of work.

Cons:

  • Strict car requirements. You’ll need a 2004 or newer car.
  • This is a competitive space, leading to companies continually reducing driver fares to one-up each other.

Get started:

17. Become an Airbnb host

Earning potential: $20–$228/hour

Become a rental host on Airbnb and connect with people looking to pay rent for your short-term stay. This convenient side hustle usually pays big (depending on your location and rental property). 

Pros:

  • This side gig has the potential to become a full-time occupation thanks to its vast earning potential.

Cons:

  • You may need additional permissions to rent out a property.
  • The short-term rental will require regular maintenance.

Get started:

18. Deliver packages on Amazon Flex

Earning potential: $18–$25/hour

Amazon Flex is a fairly new delivery service offered by Amazon. Driving for Flex is similar to what you would do as a Lyft or Uber driver, and makes for a consistently well-paying side gig.

Pros:

  • Flexible work schedule with decent hourly pay.
  • Steady flow of work opportunities.

Cons:

  • Has specific driver requirements.

Get started:

Best passive income side hustles

Passive income is all about creating assets that sell over and over again. Here’s a list of lucrative passive income side hustles you can try:

19. Sell printables on Etsy 

Earning potential: $2–$100/hour

Etsy is a great marketplace for quality goods from homegrown sellers. You can leverage the platform by creating and selling downloadable printables. Platforms like Gold City Ventures can help you create your online Etsy business from scratch.  

Do thorough research on the best-selling printables on Etsy, and understand how you can replicate the same. 

Pros:

  • Requires a one time investment for creating the printable. The product sells itself over time.
  • You can earn massive returns, depending on seasonality and demand.

Cons:

  • You’ll have to pay fees to access a marketplace for your printables.

Get started:

20. Own a vending machine

Earning potential: $20–$28/hour

Running a vending machine is a pretty versatile small business. You can turn it into a weekend side hustle on a reasonable startup-cost business. 

You can buy a used or refurbished vending machine for as low as $1,200, and get your business running with a low startup cost.

Pros:

  • This side hustle is easy to scale. 
  • There are little to no overhead costs of running a vending machine business, especially if you’re doing this on your own. 

Cons:

  • Stocking inventory, servicing machines, and taking money from your vending machines can be time-consuming tasks.
  • Vending machines are an easy target for theft. 

Get started:

21. Advertise on your car

Earning potential: $25–$28/hour

How does $100–$700 a month sound for putting up a small ad on your car? Car wrap advertising is increasingly gaining popularity as a passive income stream. 

The car wrapping process involves wrapping your car’s exterior with large vinyl sheets which carry key advertisement messages from brands. Platforms like Wrapify and StickerRide allow you to easily list your car for advertisements.  

Pros:

  • Minimal effort at your end.

Cons:

  • May cause damages to your car.

Get started:

Side businesses to start

If you have the luxury to spend some extra time on your side gig, go through this list of the small businesses you can start.

small business ownership

22. Start a dropshipping business 

Earning potential: $12–$28/hour

Dropshipping is a business model that lets you sell products that are readily manufactured and shipped by third-party dropshipping stores. All you have to do is price your products, set up your store, and market the business. 

Don’t worry, you won’t have to spend tons of time searching for products on the internet. You can use a platform like AppSumo, which delivers hand-picked trending products each day to show you which has the highest dropshipping potential.

Pros:

  • Low-risk business as you’re not manufacturing the products.
  • This business model is easy to scale.

Cons:

  • This can be more expensive than traditional retail, as the margins are usually low.
  • Potential complexities with shipping as you’ll work with different couriers. 

Get started:

23. Start a food truck

Earning potential: $17–$25/hour

Operating a food truck is an awesome side gig for folks that are passionate about food. You can have your own venture without the expense of running a full-fledged restaurant. 

Depending on your location, food quality, and marketing, this side gig can be extremely profitable.

Pros:

  • You have full operational control as you’re your own boss.
  • This is a scalable business model that has seen great success in the food industry.

Cons:

  • You need to make an initial investment to get a hold of a food truck and the necessary gear.
  • Mobile food service is fraught with licensing requirements.

Get started:

24. Become a life coach

Earning potential: $14–$150/hour

Are you passionate, observant, and trustworthy? If yes, you can be on track to become the next Tony Robbins!

Life coaching has the potential to become a profitable career. You can specialize in any niche, from career coaching to health coaching. 

Once you’ve narrowed down the niche, get the certifications to build credibility. 

Pros:

  • Most jobs in the market provide part-time and remote opportunities.
  • Once you’ve built credibility, you can branch out to start your own practice.

Cons:

  • You’ll need certifications to get hired.

Get started:

Creative side hustle ideas

Here are a bunch of side gigs ideas for all you creative folk out there:

side hustles - photographer

25. Sell your photography 

Earning potential: $5–$15/hour

Have a knack for capturing the best of life through photographs? Well, it’s time to monetize your talent. You can sell images online on different platforms. This enables you to do the job once and see it pay off afterward, without you having to make any effort. 

You can sell your images on different platforms, including FoapAdobe StockShutterstock, and more. 

Pros:

  • Great source of passive income.
  • Has great earning potential, depending on the quality of your work.

Cons:

  • Getting started as a professional photographer can be an expensive affair if you’re buying new gear.
  • You’re unlikely to make big money early on.

Get started:

26. Become a voice-over artist

Earning potential: $5–$100/hour

Voice-over work is a convenient side hustle idea. That’s because you can do it anywhere and anytime, and with minimal experience or equipment. 

The only thing standing between you and your voice-over job is your audition recording. Nail that, and you can get started immediately.

Pros:

  • Like with other freelance jobs, you can pick what projects you want to work on.
  • You’ll need basic recording gear and a quiet room to get started.

Cons:

  • The pay can be low when you’re starting off.
  • Most voice-over assignments have specific requirements related to gender and accents.

Get started:

27. Start a YouTube channel

Earning potential: $19–$200/hour

According to Pew ResearchYouTube was the most used social media platform among American adults in February 2021

For side hustlers, YouTube can be a revenue gold mine. So, consider creating a YouTube channel if you have a story to share, a talent to show off, or something to sell. 

Pros:

  • Great monetization opportunities once you hit the minimum subscribers count.
  • A video created a long time ago can remain a money-making stream for years to come.

Cons:

  • Virality has no formula. That’s why YouTube’s success can heavily depend on the algorithm and pure luck.
  • Making quality content can be time-consuming.

Get started:

Side hustle ideas for college students and teens

If you’re a student and looking for ways to make some extra pocket change, here are some side hustle ideas for you:

teaching teens about finance

28. Walk a dog

Earning potential: $9–$22/hour

Dog walking is a fantastic side hustle, especially if you’re a dog lover—your clients are adorable, you get some exercise, and you’re also helping a caring pet owner.

Platforms like Rover and Wag! can help you get started.

Pros:

  • Flexible work hours.
  • You get to exercise and reduce stress, all while making money.

Cons:

  • You’ll have to pass a few background checks and pet quizzes.

Get started:

29. Resell textbooks

Earning potential: $5–$20/hour

Flipping houses can seem like a bit of a stretch if you’re still in college. But what about flipping books? 

You can start by reselling your own textbooks, and then venture out to buy books from yard sales. You can then sell your buys for a profit.

Some websites like BooksRun will pay you for your old books. You can also sell on Amazon, but you’ll have to factor in the platform’s seller fee.

Pros:

  • Easy to start off, especially if you have old textbooks lying around.

Cons:

  • Profit margins are generally small.

Get started:

Side hustle ideas for teachers

Teachers deserve to be paid more. Period. But while we wait for the system to change, you can get started on a side hustle tomake some extra cash.

side hustle ideas - tutoring

30. Tutor online

Earning potential: $15–$38/hour

The online tutoring industry sky-rocketed during the pandemic. And according to Technavio, the global K12 online tutoring market is expected to grow 12% every year from 2019 to 2023.

If you’re already teaching, it makes sense to pursue tutoring online as a side gig. Online tutoring companies like Chegg TutorsVIPKid, and Qkids, pay you by the hour for your services.

Pros:

  • Flexible work schedule
  • Higher earning potential if you’re willing to spend more hours tutoring.

Cons:

  • Some subjects have more job opportunities than others.

Get started:

31. Work as a substitute teacher

Earning potential: $9–$20/hour

Take up a job as a substitute teacher to work with new students, and make money with a shorter work schedule. 

Summer schools are a good place to start. This is a great side hustle as it has shorter hours than regular school.

Pros:

  • Flexible work schedule. You can usually teach as little as four times a month.
  • You get to work with new students at a new school.

Cons:

  • Work opportunities are usually inconsistent.
  • You don’t usually get benefits like health insurance.

Get started:

32. Write an ebook

Earning potential: $30–$40/hour

Writing and self-publishing an ebook can be a very profitable side gig.

You can base your ebook on personal or professional experiences, subject expertise, past research, and more.

Pros:

  • Can provide massive returns if successful.

Cons:

  • No guaranteed success or income.
  • Ebooks are more prone to be copied than traditional books.

Get started:

Side hustle ideas for working momsdevelop your why

Here are some side jobs for moms to try while also having enough time for their kids:

33. Babysit in your free time

Earning potential: $20–$25/hour

You’re a mom. So, you’ve got this in the bag. Babysitting allows you to help out fellow parents with their kids.

But the best part is most parents don’t need full-time babysitting services. So, you can do this gig in your spare time.

Plus, this gig pays pretty well. According to UrbanSitter, the national average hourly rate for a babysitter in 2022 was $20.57 for one child and $23.25 for two kids.

Pros:

  • This gig typically pays well.
  • There are usually little to no requirements.

Cons:

  • Your schedule heavily depends on the parent’s needs.
  • You probably already know this, but it’s key to note—kids can be difficult.

Get started:

34. Proofread

Earning potential: $21–$35/hour

Proofreading is a great skill since you can apply it across different industries.

Plus, you can take this up whenever you want, and work remotely while you care for your kids. 

Pros:

  • You can pick your work hours
  • You need minimum equipment, including a laptop and an internet connection.

Cons:

  • When it comes to the work, there’s repetition, repetition, and—you guessed it—lots of repetition.

Get started:

35. Become a bookkeeper

Earning potential: $16–$25/hour

Unlike accountants who dabble with financial strategy, bookkeepers do more administrative tasks. That means, you don’t need a fancy finance degree to bag this job.

However, you can get a certification if you have the time. One organization to look into is the American Institute of Professional Bookkeepers

Pros:

  • You don’t need a physical storefront or office space to get your business started.
  • Pick what clients you want to work with.

Cons:

  • You may need to work very long hours during peak seasons.
  • Since you’re responsible for an organization’s finances, there’s bound to be pressure and stress.

Get started:

36. Have a garage sale

Earning potential: $5–$15/hour

Having a garage sale can make you good money, and help you get rid of excess clutter in your house. You can sell a wide variety of things, including toys and clothes your kids have outgrown. 

Pros:

  • You can make quick cash without having to worry about shipping products.
  • You also get to interact with neighbors and other interesting people.

Cons:

  • Involves a lot of work, including making signs, placing ads, getting permits, pricing items, and setting everything up.
  • A lot of aspects (like bad weather) can result in fewer shoppers.

Get started:

Unique side hustle ideas

Here are some unique side hustle ideas that you may not have thought of:

37. Clean parking lots 

Earning potential: $5–$21/hour

That’s right. You can clean parking lots and sidewalks to make good side money. Brian Winch, who we mentioned earlier, has been earning a six-figure income from this alone. His company, Clean Lots, provides a “niche” litter-pick service for commercial property management companies. 

Pros:

  • Great pay.
  • Hours usually won’t conflict with your day job.

Cons:

  • Late night/early morning work required
  • Involves manual labor.

Get started:

38. Flip Websites 

Earning potential: $20–$29/hour 

Flipping a website is like other forms of flipping, and the process is quite simple. You can purchase a website, and increase its profitability before selling it for more than what you paid.

Flippa and Empire Flippers are global online marketplaces where individuals and businesses can buy and sell websites and other digital real estate. 

Pros:

  • No additional costs associated with overhead, storage, packaging, etc.
  • Generally high gross margins, increasing the chances of profitability.

Cons:

  • Long sales and conversion funnel.
  • You typically pay self-employment taxes which can be quite high.

Get started:

39. Get paid to workout 

Earning potential: $0.10–$0.50

Working out is obviously great for your health. But what if we said this could be an additional income stream

For instance, Sweatcoin is a cryptocurrency-based platform that rewards you with Sweatcoins—a currency native to the app. You can use these Sweatcoins to get gift cards and other rewards.

HealthyWage is another app that lets you make money by betting on your weight loss journey. You can sign up and use the HealthyWage calculator to see how much money you can win based on the weight loss goal and time frame.

Pros:

  • Fun source of workout motivation.

Cons:

  • Negligible pay.

Get started:

40. Review legal cases online 

Earning potential: $5–$10/hour

Online mock jury websites let you sign up as jurors in your county or federal district. You’ll then be sent case materials and questions related to a particular case. You then get be paid in exchange for your opinions. 

Online Verdict and eJury are two such websites that pay you to review different ongoing cases. 

Pros:

  • You can review cases at your convenience.

Cons:

  • These mock jury platforms usually pay you on a monthly basis. This wouldn’t be suitable if you’re looking for daily pay.

Get started:

41. Rent your pool to strangers 

Earning potential: $30–$60/hour

Own a swanky pool? Rent it out to make some extra moneySwimply lets you list your pool for free and accept customer reservations when you like. You get direct deposits from Stripe after every confirmed booking.

Pros:

  • Comes with a $1 million general liability insurance.
  • You can access information on swimmers to pre-screen them before accepting the booking.

Cons:

  • The platform charges a 15% service fee. 

Get started:

Reddit Crowd-Sourced Data on Hustling to Make Money

Here are all the interesting tidbits we gathered from 18 side-hustling champs on Reddit:

  1. Some 61% of the side hustlers we surveyed admitted that they took up a side hustle to make extra income for daily expenses, while 22% attributed it to repaying debt, and 16% to boost savings.
  2. Over 33% of the surveyed side hustlers say they make anywhere between $1,000–$5,000 a month from their side hustle. And over 27% say they make $5,000–$10,000 from their side gig.
  3. Over 38% of gig workers say they spend 20–40 hours on their side hustles, while 33% say they spend 10–20 hours on their gigs.
  4. When asked about what type of side hustle they’re working on, surveyed hustlers gave widely different answers. Here’s a word cloud of some of the responses:
  5. As for their biggest challenges while hustling, most pointed towards a lack of enough time.

How to Find the Most Profitable Side Hustles

Let’s look at some key tips for bagging the perfect side gig.

Nick, the founder of an award-winning blog Side Hustle Nation, has been helping a community of 85,000 people earn more money. While sharing his top tips on finding the perfect side hustle, he says, “The first step is to take inventory of your skills, experience, and passion, and somehow try to turn those into a business. This could be pretty straightforward: if you have an accounting background, doing freelance bookkeeping on the side could be a natural fit. But if your skills and experience don’t fit so neatly into a well-defined category, look for pains and problems you can solve. Ask yourself: What do other people look to you for help with? What problems have you overcome in your own life?

Apart from these awesome hints, make sure you:

  • Study trends in detail and look for opportunities in them.
  • Consider how much time you can set aside to take up a side hustle.
  • Invest some money (if necessary) to start the perfect side hustle.

Key FAQs on Making Money With Side Hustles

1. How can I make extra money legally?

It’s perfectly legal to have more than one job—even if your primary one is a full-time commitment. In fact, according to the US Bureau of Labor Statisticsbetween 7‒8 million Americans (roughly 5% of the total workforce) work multiple jobs.

Keep in mind that—depending on state laws—employment contracts, agreements, and company policies may impose restrictions on your ability to work other jobs. Make sure you read through your employment contract and company policies before you start a second job or side hustle.

2. Is it possible to earn more money with a side hustle?

Absolutely. Depending on the type of side hustle you pick, you can expect to add 10%, 20%, or 30% to your monthly income outside of your full-time job. See our exhaustive list of more than 40 side hustles you can start right now for more.

3. Do I need to report my side hustle earnings on my taxes?

We hate to break it to you, but side hustle income is taxable. 

In a scenario where you earn $600 or more from the same company, certain income reporting rules kick in. The said company has to now send you a 1099 form summarizing your income for the year. 

This $600 threshold doesn’t just apply to companies, but also to third-party payment processors (like PayPal). They’re required to issue a 1099 form once you cross the $600 income mark, regardless of how many transactions there have been. 

Key Takeaways

  • According to a study by Preply.comworking a side hustle for just 10 hours a week can earn you an additional $10,701 a year
  • It’s perfectly legal to have more than one job, even if your primary one is full-time.

Side hustle income is taxable. In a scenario where you earn $600 or more from the same company, certain income reporting rules kick in.

 

Articles Make Money Passive Income Side Hustles

AUTHOR Deepti Nickam

Content writing and marketing professional with 4+ years of experience in the B2B and B2C space.

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