Side hustle ideas for extra money

Everybody always hears, “You need to have multiple sources of income to have a sustainable future.” Most people today have some type of side-hustle to bring in more income. Whether you’re looking to pay off loans or looking to reach a specific financial goal, side-hustles can most definitely help. Here are a couple of side-hustle jobs that can bring in extra income.

1) Online Teaching

Everybody is talented at something. Why not use it as a way to make more money? One of the most popular teaching services on the market today is Udemy. Udemy has courses you can take for a small fee on just about anything. On average, a new Udemy instructor can make anywhere from $1,500 to $3,000 dollars a month depending on how good the course is, reviews, and how many students enroll.

Udemy normally has sales on courses for $9.99, but they tend to change from time to time. As you can see, Angela Yu has 44,535 students that are enrolled in her class. If you multiply 44,535 * $199 dollars, that is $8,862,465. If you take 44,535 and multiply it times $9.99 (on-sale price), you still have $444,904 dollars. Of course Udemy takes their share, but it just goes to show how much money can be made by teaching something that you are passionate about. A lot of people in other countries are paying for people to teach English. If you understand another language, you should most definitely consider teaching English.

2) Social Media Marketing

People spend most of their time on social media, so why not use it as a source of income? Social Media Marketing is a side-hustle that can make you a good amount of money if it is done correctly. Social Media is the new wave to reach millions of people very quickly, and companies are willing to pay people to do the marketing for them if it guarantees that it will bring traffic to their company. Social media is a huge distraction for business owners and causes a shift of focus. You can take that weight off a company’s shoulder by ensuring that they are always posting content that will market the company and create engagement. If you are savvy with Instagram, Twitter, and Youtube, then working as a social media marketer could potentially be for you.

On average, a social media marketer makes around $11 to $17 dollars an hour. Some people start their own marketing business and prove to companies that they can bring more traffic to their companies. At the end of the day, if you can prove that you can help the company make more money by bringing more traffic to their products, they are willing to pay a lot of money.

3. Rent a Room on Airbnb

I’ve used Airbnb many times to find a well- priced house, apartment, or condo since I like to travel. Depending on your location, you can make a lot of money if your home is near a lot of key places. Airbnb earnings range from $200 dollars to $10,000 dollars a month. Just imagine if you made enough money using Airbnb to pay off your monthly mortgage.

This is an example of a house that is $230 a night on Airbnb in Orlando, FL. I guarantee you that the owner of this house is able to pay the mortgage and have plenty of money to spend in other areas.

4. Uber/Lyft Driver

Utilizing a ride-sharing service like Uber or Lyft is a way to turn your vehicle into a money maker. You get the opportunity to meet new people that might be able to help you in the future and make money at the same time. The only downside is getting an Uber passenger that is crazy. I’ve heard multiple stories from Uber drives dealing with some unusual passengers.

The income that the Uber/Lyft driver makes is determined by the location and time. If there is an event going on and everybody is looking for a ride, expect to make more money. If there are hardly any demands for Uber/Lyft drivers, expect to make less. Remember that you are putting your own gas and labor for your car. After you factor gas and other factors, there is a chance that you might be making less than minimum wage. According to Indeed.com, an Uber driver in Orlando, FL makes around $18 an hour on average.

5. Online Surveys

A lot of companies are willing to pay people to complete surveys because it provides them with informational data to help leverage their business. Surveys can range from $0.50 to $5.00 per survey. If you take a lot of surveys, you can make up to $100 a month. Most people feel that surveys are annoying and time consuming, so they never do them.

6. Real Estate

Real estate is a major investment that people are using to generate more income. I have seen people flip, and purchase homes to rent out to people. I thought about something when I was in college. I stayed in a 4br/4ba apartment where each tenant had their own bathroom and shared the living room area/kitchen. We each paid $515 a month on separate leases. That is easily over $2000 dollars a month! The apartment as a whole isn’t that much if you look at the cost per square feet in the area. So at the end of the day, tenants think they are winning because of the price, but the owners are really the true winners.

The house market is steadily rising. People are starting to invest more in houses to use as income. You can rent out your house to tenants, or sell the house back when the value significantly increases. A good friend of mine bought a house in Sanford, FL for about 100K eight years ago. Today the house is worth double the old price based on the market. At any time, he can sell the house back, and now he has a significant profit. Another thing about having a house is that it helps with your credit score as well.

7) Freelancing

Are there any skills or hobbies that you can use to make more money? The answer is probably so. Most of my friends have a camera, but never thought about using photography as a tool to make money. Really think about what you are good at. Do you know how to use photoshop, illustrator, or light room? You can easily get in photography and graphic design if you are. Are you good with spreadsheets? You can be an Excel specialist that provides data for businesses. Are you a good writer? You can be utilized to write business plans and other important documents. With freelancing, the options on what you do are limitless.

Conclusion

There are many ways to make extra money with a side hustle. The most important thing is figuring out the things that you like as a hobby, or things that you are good at or passionate about. Once you figure that out, you can then use that as a way to bring in extra money. The second key is networking. Your network is your net worth! You can’t make money if people do not know about your skills and services. That is why I try my best to attend as many network opportunities as I can. There are so many ways to get extra money, and I just named a few. Go out and get after it!