Making Money On The Side
The Side Hustle
If you are already working a full time job, you might be wondering if there are additional ways you can start making money on the side.
On the internet, there are a number of methods and ideas you can try to start making some extra side money.
Maybe you are happy with your current job or career, and you just want some extra cash to go on vacations, go out to eat with family and friends, and just want a bit more extra spending money.
Or maybe you are not thrilled with your current job or career, and are looking to try something out on the side, and see if you can generate an alternative online income.
Whatever the reason may be, side hustles are becoming increasingly more popular these days.
A side hustle can be any additional work you perform, outside of your regular full time job, that you do to make extra money.
This can be work you perform at night, on weekends, or even as a gig in your spare time.
Your day job stays secure while you test the waters with a new side hustle.
In this post, we are going to examine a few ideas for side hustling to help you determine if this is something that is right for you.
Reasons for a Side Hustle
This one might be obvious but let’s just point it out: You want to make more money and supplement your income.
With a side hustle, you can boost your current income which will help you achieve your own personal financial goals.
Rather than trying to constantly save money every where you go, you can put your energy towards actually earning more money.
Want to take a trip somewhere? A side hustle can help you get there.
Want to spend money on expensive gifts and luxury items? A side hustle can help you with this too.
A side hustle can also be a way for you to test the waters, figure out what else it is that you are good at, and possibly even make a career change down the road.
A lot of new businesses that are started online today started out as side hustles. You never know where your side hustle can ultimately take you.
How to Decide on Your Side Hustle
A few questions you should ask yourself before picking the right side hustle for you:
What am I good at?
What do I enjoy doing?
What skills do I already have that I can start using?
Will people pay me for these skills?
When will I be doing my side hustle outside of my full time job?
Think about these questions.
Grab a pen and paper, brainstorm, and write out your answers to these questions.
It is better to have a plan so you know what direction to head in.
Once you have a clear picture to the answer of these questions, you can decide on the right side hustles for you.
You can always try several different side hustles to see what works best for your skills and expertise.
The first side hustle you try might not be for you, but the second one might be the one that you stick with long term (and one that bring in a good source of additional income for you and your family).
What are Some Common Side Hustles for Making Money on the Side?
Here is a list of some common side hustles that many people out there have tried and continue to do:
Social Media Tasks
Driving for Uber or Lyft
Selling on Ebay
Selling on Amazon
Which Side Hustle is Right For You?
This depends on you. See what interests you and get started. You will never really know until you try.
Trying one or two side hustles will help you determine if this is something you would like to continue to do and focus on long term.
If you don’t like a side hustle, you can always change direction and pick something else.
Once you find what you like and enjoy most, you can put your time, energy, and focus into it.
If you enjoy writing, starting a blog or getting involved with Amazon Kindle might be a good choice for you.
If you enjoy trading, getting involved with Forex Trading or Crypto Trading could be a valid option.
See what you are most passionate about.
How Much Can You Make with Your Side Hustle?
This really all depends on a number of factors.
Which side hustle are you deciding to work on, how much time are you going to put into it, what skills do you already possess and what will you need to learn, how are you making money on the side with your side hustle, along with other things.
If you decide to do something like freelancing or consulting work, you will usually be paid per hour or per job or project completed.
If you decide to go with something like blogging or affiliate marketing, it will depend more on how much value you are providing to your readers, what types of products are you promoting, and how much traffic are you receiving and converting.
Online trading will depend on how much money you invest and how much risk you take.
I would only recommend online trading if you are willing to invest some money and are careful with only risking money you can afford to lose (after all, we don’t want your side hustle to turn into a big loss).
A side hustle can be a great way to start making money on the side.
You have the freedom and flexibility to decide how much time and effort you put into it.
You can do your side hustle at night or on weekends.
Something part time and considered a hobby, could potentially turn into something more full time, leading to a transition or complete career change.
In any event, a side hustle is a proven way for you or anyone to generate additional income in your spare time, without sacrificing your day job.
There really is little risk involved in starting a side hustle to earn extra money.
Most side hustles don’t require a huge initial investment.
Review the list in this post, decide on which side hustles you want to get started with, and the most important thing of all, start implementing and taking action.