Get Your Side Hustle On
Ever heard of a “side hustle?” We hear so much about them nowadays, about how all of our neighbors are working at side jobs and earning oodles of extra cash.
But they’re missing the most important piece of the puzzle: When you develop a side hustle, the intuitive next step is to make that money earn even more money.
After all, more money is nice.
But you know what’s nicer?
More money over time that you can earn from investments!
It all starts when you build up a side hustle business.
It’s easier than you think to build up a side hustle.
Start with your hobbies or favorite activities and move forward from there.
It’s important to think about how much time you can contribute to a side hustle.
If it’s only a few hours a week, driving for Lyft may not work best for you.
But something low maintenance (such as selling things you already make as a hobby) may suit you perfectly.
Whatever you decide to do, treat it like a regular job and be sincere about your commitment. That’s where the real success lies!
Read on to find ten money-making ideas that can generate an extra $1,000 a month.
1. Turn a passion for animals into a thriving side business.
The typical side hustle for animal lovers is the job of dog walker. This is also one of the least expensive side hustles to start. But it’s possible to expand out into other forms of animal care, such as grooming or pet sitting. Study what’s available in your area and create a business to fill whatever gaps aren’t being filled.
2. Serve seasonal needs.
Do you love getting into the Christmas spirit? Try selling Christmas trees or working in a gift wrapping department. Valentine’s Day fans can sell cards, and those proud of their Irish heritage can play the tin whistle at St. Patrick’s Day events. Every holiday has an opportunity for a side hustle!
3. Use your hobbies as potential cash cows.
Those little felted animals you make for friends could potentially make hundreds (if not thousands) a month on Etsy. If you have the time to meet demand, it’s possible to grow a thriving craft business.
4. Venture into rental management.
AirBnb is one of the fastest growing side hustles, precisely because you can be involved as little or as much as you like. You just have to make sure you’re giving your guests a good experience!
5. House-sit in your spare time!
As this article explains (while supplying many more side hustle ideas!), people are often in need of house sitters.
6. Drive for companies like Lyft and Uber
Driving is one of the easiest side hustles if you’re prepared to use your car quite a bit more than you’ve ever thought you would. Take time and do your research on what service is best worth your time. One of my friends and my niece both drive for Lyft and love the flexibility and fast pay.
7. Babysit or care for seniors.
Yes, you can still babysit if you’re no longer a teenager! But if you have experience as a caregiver for seniors, you can also use those skills to earn a healthy side income. Websites like Care.com hire for both kinds of caregivers. You can even set up a pet care business!
8. Become a mystery shopper.
There’s a reason why mystery shopping is the original side hustle. Most companies who hire mystery shoppers let people keep most if not all the things that they purchase on the job. Research companies offering up these positions—and take your pick!
9. Rent space in your home.
No plans for that attic or crawlspace? Rent it out to someone who needs that extra space.
10. Being a friend (really!)
Okay, so this one is a little odd. But there is a market out there for friends-for-hire. If you have unusual skills or hobbies, it may be extremely lucrative. Go and hang out with your “people”!
Once you generate an extra $1K, use it to invest!
With $1000 under your belt, you’re more equipped than ever to invest.
Side hustle cash is what you dig into when you’re looking to experiment financially.
For example, if you were always interested in investing in cannabis stocks, but nervous about venturing into what could be a volatile market, it can feel less risky to use side hustle funds.
Investing side hustle money leads to big gains over time.
In 8 years, an initial amount of $1,000 will lead to a principal of almost $100K. Plus the gains to go along with it!
Side hustles are extremely lucrative, but earning the money upfront is only the first half.
You have to invest the money you earn to see long-term benefits over time. They’re also a great way to expand your portfolio and explore riskier investment types.
Search your life for potential side hustles. You won’t regret it!