The best thing about side hustles is the flexibility they offer. You can do it anytime, after your work or during your rest days. Just don’t take side jobs that have schedules overlapping with your current full-time job because it will cause disaster and burnout.
Side jobs can be full-time jobs, depending on the circumstances. Whether you’re up for it to pay off debts, have more savings, make it a steppingstone for your financial freedom, kill boredom, or pursue your passion, this article is for you. We will explore the best side hustles to help you earn extra cash.
Ready? Let’s dive in.
Best 5 profitable ideas to make extra cash
Here are some of the best tried and tested side hustle ideas that will bring you some extra money.
Got a skill and expertise? You can take on short-term projects and employment contracts from different clients all over the world. It offers flexibility, and clients pay for your skills either by hours worked or by completed tasks or projects.
There are many freelance works you can choose from. According to the 2019 report on Digital Platform Work in Australia: Prevalence, Nature and Impact, Australian freelancers are mainly into these types of work:
- 16.9% in professional services work
- 9% in writing or translation work
- 7.8% in clerical and data entry
- 7.7% in creative and multimedia work
- 7.2% in software development and technology
You can start your freelancing journey on sites such as Upwork, Fiverr, and even LinkedIn. Utilise your skills and strengths. Also, make sure you know the standard rates of your chosen field.
2. Sell your hobbies or passion
You can always earn money from your hobbies and passion. If you are into artworks, restored vintage goods, or handmade products, you can sell them on Etsy and other digital platforms, such as Facebook and Instagram, to have a wider reach of customers. You can even get customers outside your country!
If you are not into handicrafts, you can also try selling unused clothes and reselling items by buying items at a lower price and selling them at a higher price.
You can also do drop shipping where you won’t have to keep your stock yourself and instead the manufacturer delivers the items directly to your customers.
For people into photography, you can earn additional money by selling your photos online and getting a commission fee for each sale.
Blogging is also a profitable side hustle. You can build your audience and increase your site visitors by creating engaging posts. You can then monetise it by using affiliate links, display ads, sponsored posts, brand partnerships, premium subscriptions, and posting your products or link to your own business.
It is easy to create a blog, but you will not earn money right away because building an audience takes time. However, it will be profitable in the long run as long as you regularly post content.
Don’t be hesitant about your content. Just write anything you want, like the things you are interested in. That way, you will attract an audience that shares the same thoughts and interests as you.
4. Renting your car or spare room
You can earn money with your existing resources by letting others rent your spare room, house, or rarely used car.
You can rent your spare room or house on Airbnb. The best thing about it is that you can choose which days you would like to rent your property to others.
There are several automobile rental services you can connect with to rent out your unused car. However, do consider your insurance coverage before you rent it out. Also, expect that not all who rent will treat your car as carefully as you do it.
If you don’t want others to rent your car for your car’s safety, you can opt for driving people around via ridesharing or delivering food and goods to people.
5. Pet caretaker
Many pet owners look for someone who can take care of their pets while they are away or busy at work. So if you love animals, being a pet caretaker or dog walker is a good side hustle for you.
There are many platforms where you can promote your services as a pet caretaker. You can also attend training and get certifications for specific types of pet care to increase your chances of getting more clients.
How much money can you earn monthly from side gigs?
How much you earn depends entirely on the side hustle you choose, the time you spend on the side job, and the demand for what you can offer. Consider the possible taxes and other fees, such as travel, supplies, service fees on your chosen platforms, travel, and insurance, in determining your monthly earnings.
For freelancing, the fees depend on your chosen field. The average hourly rate is $32.16.
Meanwhile, blogging can help you earn over six figures a year. Specifically, Australian bloggers’ average earnings are $1,073 weekly. For dog walkers, the price range for a single walk is $16-$30, which is exclusive of the platform fees.
Earning more money does not have to tie you to doing things you don’t like. Side hustles that fit your interests, skills, hobbies, and passion enable you to enjoy while you earn.
However, starting may require money, depending on your picked side hustle. Things like purchasing a laptop for freelance work, start-up money for your handicraft business, and the like. Don’t be discouraged, build a business plan and invest only what you can afford.