Seeking ways to combat rising prices and other effects of inflation? You could ask for a raise or slash your spending, but there are other ways to ease the squeeze on your wallet. If you want to earn more money, one of these 12 side hustles could be right for you.
1. Tutoring
Tutors work with a variety of subjects and age groups, both online and offline. You might assist elementary school students with homework, help middle school students master algebra or prepare high schoolers to ace college entrance exams. Tutors typically earn about $24 per hour, according to Indeed. Market your services locally to schools, colleges and local parent-teacher groups, or use online tutoring platforms such as Wyzant and TutorMe to reach clients. Many tutoring platforms require teaching experience, degrees or certifications to join.
2. Teaching English As a Second Language (ESL)
Teach ESL using an online teaching platform, such as Skooli, QKids or Cambly, to instruct groups of non-native speakers. Students are usually in other countries and time zones, so this side hustle won't conflict with most day jobs. Pay for online ESL teachers ranges from $6 to $18 per hour. Some platforms require degrees, certifications or experience; others simply expect proficiency in English.
3. Dog Walking or Pet Sitting
Hoping to earn tail wags and sloppy kisses along with cash? If you love animals, consider a side gig as a dog walker or pet sitter. Promote your services locally via word of mouth and social media, or use a platform such as Rover, Fetch or Wag to find your furry customers. Pay for pet sitters and dog walkers averages about $18 per hour, according to Indeed.
4. Home-Related Businesses
Handyman services, lawn care, housecleaning, power washing—there's no end to the chores homeowners face. If you've got the tools, time and skills, make extra income taking the hard work off their hands. Clients often find home-related businesses via recommendations; ask your initial clients to spread the word. Income depends on your services; sites like Handy, Thumbtack and TaskRabbit can give you an idea of going rates in your area and help market your services.
5. Moving Services
A truck or van and willingness to do some heavy lifting can net you profits as a mover. Help individuals or businesses move to a new apartment, home or office. You also could haul away junk or deliver furniture or appliances for local businesses. Try Lugg, Dolly, Bellhop and TaskRabbit to find moving jobs. Movers can earn up to $63 an hour, according to TaskRabbit; you may get tips, too.
6. Selling Crafts
Do you enjoy knitting, woodcarving, painting or making jewelry? Turn your hobby into cash by selling your creations on independent artisan platforms, such as Etsy, Indiecart or Amazon Handmade. You can also market your wares at local crafts fairs or swap meets. Usually held on weekends, these events won't interfere with your day job.
7. Selling Items Online
Clean out your closet or garage and convert unwanted items into cash by selling them online. You can use a general site such as Ebay, or specialized selling platforms such as Poshmark, Depop and Thredup for clothing. Don't want to pack and ship goods? Use Facebook Marketplace to sell locally. Appealing photos and well-crafted product descriptions are key to success; most platforms offer tips to help you hone these skills.
8. Renting Your Space
Have extra space in your garage, attic, basement, driveway or carport? Rent your spare space to people to store stuff, from cars to furniture, tools, equipment and more. Neighbor, Stache and Prked are among the online platforms where you can promote your storage space. Stache says its hosts earn an average of $4,000 to $6,000 annually.
9. Renting Your Car
From auto loan payments to car insurance, owning a car is expensive. Shouldn't your vehicle help earn its keep? Peer-to-peer car sharing platforms like Getaround, Turo and Hyrecar connect you with people who rent your car when you aren't using it. The apps even offer insurance to protect you and your vehicle. Potential income depends on your vehicle, location and other factors, but Turo claims renting out one car can earn over $10,000 annually.
10. Freelancing
You can parlay just about any job skill into a profitable freelancing gig. Website design, graphic design, writing, programming, customer service, marketing, bookkeeping—the list is endless. If you have experience and contacts in a particular industry, you can typically land clients via referrals and market yourself on LinkedIn. Joining a platform such as Freelancer, Upwork, FlexJobs or Guru is another way to find freelance work.
11. Rideshare or Delivery Driving
Set your own hours driving for Uber or Lyft. Both platforms rent drivers cars, so you don't have to use your own, and offer bonuses, tips and other income-boosters. Ask your car insurance carrier if you need rideshare car insurance.
Don't want passengers? Try delivery driving. Sign up with DoorDash, Uber Eats, Postmates, Grubhub or Instacart to deliver food or groceries. Transport online purchases with Shipt, Amazon Flex or SparkDriver. Rideshare and delivery drivers make from $17 to $41 an hour, according to Glassdoor.
12. Babysitting
Work as an occasional sitter or get a regular gig as an after school caretaker, depending on your schedule. Use websites such as Care, SitterCity and Sitter.com to create a profile so local parents can find you. (Expect to undergo a background check.) Depending on your experience, location and services, you can earn between $15 and $26 per hour.
How to Succeed With a Side Hustle
Boost your side hustle's odds of success by following these tips:
- Set goals. Want to turn your side gig into a full-time business? Aiming to save for holiday gifts or a down payment on a car? Looking to pay off debt? Identifying goals helps you decide how much time to devote to your side project.
- Understand profit. Earning $24 an hour doesn't mean you'll take home $24 an hour. There are startup costs, self-employment taxes and ongoing expenses to consider. Make sure your side gig earns enough to be worthwhile.
- Don't risk your full-time job (and benefits). Review your employment contract or employee handbook to see if your employer forbids outside employment. Be especially cautious if your side gig is the same as your day job (for example, you're a bookkeeper doing bookkeeping on the side). Your employer could fire you for unfair competition.
- Consider a business credit card. When you put business expenses on your personal credit card, it's easy to use more than 30% of your available credit, which can damage your credit score. Using a business credit card for side gig costs helps separate business and personal expenses and build a business credit score.
The Bottom Line
Once your side gig takes off, revamp your budget to include your additional earnings. To make the most of the money, consider opening a high-yield savings account. Applying for a business credit card? Check your credit report and credit score first and work to improve your credit if necessary. Your side hustle could boost your credit score by helping you pay down debt and reduce credit utilization rate.