With inflation on the rise, it seems that the money we bank after paying all the bills is dwindling. Reaching savings goals has become increasingly difficult. Thankfully there is a long list of potential opportunities that can bring in a little extra cash to help you reach financial goals, pay down debt, and put a little cushion in your budget.
Use this list as inspiration to help you make more progress towards your current money goals. Some are quick to profit while others may take some time to reap the rewards. Regardless, the key to succeeding in any side hustle is to focus your specific skills and take advantage of them! Are you a pro on a Cricut? Enjoy doing crafty projects or teaching others a certain subject? Make money doing something you enjoy and never work a day in your life!
How to Start a Side Hustle
- Make a list of activities you enjoy doing or would tolerate to make a little extra moo-lah
- Narrow down the list you made to a top 3 and get to researching what you may need to startup and get moving on your way to pay day!
- Make a checklist of steps you need to take to get up and running
- Make a budget and account for any up-front costs you’ll need to be successful and turn a profit
- Work your way through the checklist one action item at a time
15 Ideas to Increase Your Residual Income
Drive for Lyft/Uber
If you enjoy driving, people, and being in control of your schedule – check out Lyft or Uber. Both companies offer flexible scheduling, pay surge during peak hours, and insurance protection while you’re driving during work hours.
Maybe you like to drive but interaction with people just isn’t your thing, look into delivering with Grubhub, DoorDash, and Uber Eats. There are quite a few different entities depending on where you live geographically so do your research! Everyone has to eat, right? Having your food come to you is even better!
Is the grocery store your happy place? Shopping at the store can be therapeutic for some. If that applies to you – make some money while you meander the aisles of your local grocer! Instacart or Shipt are the apps for you to check out. Shipt even claims you can make up to $22 an hour working for them!
Tutor (Online or In-Person)
Regardless of the times, there are always people in need of supplemental education. Tutoring individuals in subjects that you are strong in can be rewarding both in life and financially! Look at Tutor.com, TutorMe, or Studypool if you prefer online education. Maybe teaching face-to-face is more your speed. In that case, contact your local tutoring establishments and educational systems to see if they could use an extra hand.
Be on guard though when scrolling through online postings. Some other users are just looking for someone to write their paper or complete their work for them. That doesn’t mean all postings are of the lazy nature. Others need honest help to comprehend and complete assignments so ask questions before taking a job! TutorMe has stated you can make at least $16 an hour – cha-ching!
Become a Transcriptionist
If you are good at typing, listening, and have an eye for detail, this could be the gig for you. Transcriptionists are professional typists who listen to recorded or live audio files and type up written versions of the content. They are essential in the medical and legal industries, but other corporate sectors need them too!
Though you have to be trained and certified, you have the potential to make around $20 – $45 an hour depending your skill level and speed. Utilize sites like Rev to find jobs quickly – once your certified of course.
Join a Focus Group or Take Surveys
Keep in mind that some of these sites are looking for very specific things when they select participants. You may not qualify for every single survey opportunity or focus group you see. Also, you may need to answer a lot of questions and complete quite a few surveys before you can cash out. It’s not the quickest option but it is always something to look into for your free time.
Rent Your Home or a Spare Room on Airbnb
We know this option may not be for everybody but if you’re the hostess with the mostest this could be your niche! Websites like Airbnb rent out your space(s) for either long or short term stays and depending on your location, could rake in some serious cash.
It’s okay to be hesitant towards opening your home up to strangers – Airbnb alleviates this stress. They offer host damage protection for your property that can range up to $1 million in coverage. Additionally, they offer host liability insurance just in case someone gets hurt during their stay.
Even though Airbnb doesn’t screen each guest, there is a mutual rating scale in place so hosts feel more informed and relieved of stress regarding who they are letting into their home.
Resell Items You’ve Thrifted
You need to front some cash for this one. You never know what you might find while thrifting! Something one person thinks is worthless may be the cash-out you’ve been looking for. What’s that saying? One man’s trash is another man’s treasure? The premise is easy: buy low and sell higher.
Do your market research on what is currently trending and how much these items are selling for. Many people have gotten into upcycling (we will touch on this shortly) and are looking for those perfect pieces to restore or get creative with.
The easiest places to resell items is through sites like Facebook Marketplace, Amazon, eBay, Poshmark, Thredup, and even GameStop – just to give a few examples. Here’s the catch – do not go into debt for this venture. Having friends and family loan you money to front the costs of items only puts you back. To the same token, you definitely don’t want to end up with a bunch of stuff you still owe money on and can’t even sell. Go slow and always purchase in cash – cash is king after all.
Channel Your Creativity for Cash
This one may not be for everybody but if you have an artsy side and enjoy expressing your creative capabilities, there are many options available to you!
Sign up as a freelancer with Fiverr, Upwork, or 99designs (maybe all three) to connect with clients who need your creative mind to get some jobs done. Predominantly focused in writing, editing, graphic design, and voice-over work, do what you love while getting paid for it! Only thing you need to do to get started is create a profile (a resume of sorts) so potential clients can check out your work, experiences, rate, and specialties,
Earlier we mentioned upcycling. From restoring classic pieces to their former glory, to putting your own spin on things, the sky is the limit for this one. Check out some social media pages of other upcyclers to get some inspo! Another way to utilize that creative ability is to start an online store front and sell products you make on platforms like Etsy, Amazon, or even Facebook! There you can ucycle, revamp, embellish, restore, and all that jazz while sharing your creativity with the world.
Turn Your Clothes into Cash
Have a piece of clothing you haven’t worn in forever? Maybe it still has the tags on it. Lighten the load in your closet and make some money while doing it! Places like Plato’s Closet and similar consignment concept stores are always looking to purchase new inventory.
If you have higher end pieces that you want to catch a fair price for, post them on sites like Poshmark or The RealReal to get verified and fair compensation! Thredup is also a great and convenient, hassle-free option for all clothing as well.
Become a User Tester
When businesses come out with a product or develop something that isn’t performing the way they expected, they need to know why. In cases such as these, businesses will look to their consumers or random people to be user experience testers. That’s your cue! Companies like UserTesting, Analysia and TryMyUI will pay you money to test out different developed products like websistes, apps and products – and then give your feedback. Most of them state you can get $10 for each test you complete! Cha-ching!
Dog Walk or Pet Sit
All those who love animals, say I! Do what you love and make some money along the way. You can pet sit while the fur parents are away or find a couple of fur baby clients you can walk during the week. Bonus – you can enjoy some fresh air and exercise too!
You can advertise your own pet-sitting business on social media, put signs up in your neighborhood and local area, or use a website like Rover or Wag to instantly get clients. They let you set your own schedule and adjust your fees – but they do take a cut of your profit. If you don’t want to share your profit, get the help of your friends and family to start spreading the word to drum up some clientele!
Do Tasks for Other People
Be a Honey and help to complete another’s Honey-Do-List! From completing tasks like little fix-it jobs or running errands – sign up on sites like TaskRabbit or Handy. If you are a certified tradesman or craftsman you can get some extra gigs through Handy too!
Advertise on Your Car
Get paid to advertise on your car! As long as you don’t mind putting stickers, magnets, or even wraps on your car to make up a little extra gas money, this is for you. Nickelytics, Wrapify and Carvertise. All have geographical or mileage requirements but can bring in a steady stream of much needed extra money. Do your research on each company as they have different perks and options available to fit you best!
Deliver with Amazon Flex
You know that Christmas Day feeling you get every time a new amazon package is delivered to your front door step? Be the reason others get to enjoy it too…while making money! Sign up to deliver joy with Amazon Flex and have the power to create your own schedule. Work as much or as little as you like. According to Amazon, most drives make $18-25 an hour!
Hopefully this list sparked some insight into the world of side hustles and how to increase your residual income! Make sure you do your research into which ever avenue you choose to explore and follow the steps mentioned above to get started.
Don’t forget: when the money starts to roll in, put that extra income in your budget with your specific goal in mind. If you don’t, you’ll end up mindlessly spending it and you’d be dong a lot of extra work without gaining any ground.
Take it one side hustle – one day – at a time. Make it happen!