Are you interested in earning more money with a lucrative side gig? If so, this article is for you. According to Statista, the average amount American employees earn reached a high of $11.62/hr. In May 2022.
Assuming this employee works 40 hours a week, they will earn less than $25,000 for the entire year. For a family of four, this puts the average American under the poverty line. No wonder people want to get a second job!
You need to make more money if your regular paycheck doesn’t cover everything you want. You can work hard toward a promotion, but you can’t guarantee you’ll get it. You can brush up on your resume and look around, but you will have to put a lot of effort into applications and may not find a job with much better pay. Also, you may need money now! In that case, you should look into a supplemental source of income to find a way to make some extra money in your spare time.
Not everyone needs or wants a side gig to make extra money to pay the bills. Some may want to find one to stash away enough money to become financially independent and retire early. So, whether you’re looking for a side gig to help you get back on your feet financially or to have the extra capital needed to grow your wealth, these ten side gigs will help you accomplish both. Best Side Gigs For Extra Cash:———-
1. Personal Training: If you are passionate about fitness and nutrition, get paid for your gym sessions by offering personal training services or running group classes. You will get the chance to do what you love and keep yourself healthy. There’s even a link between fitness and success that will hopefully apply to you.
You can find clients at your local gym and market yourself online. You can create your program and even set your rates. Generally speaking, personal trainers can make a competitive living at an average national rate of $18.49/hr.
2. Rent Out Room: Do you have an extra room in your home? Rent it out to people traveling in the area through Airbnb for extra money. You get to set your rates, and you once again get to meet new people. However, it would be best if you make a significant effort to make your home as welcoming as possible to get high ratings. It would be best to share your home with strangers, which can cramp your style. Earnest ranks Airbnb as the highest-rated “sharing” gig, with an average income of $924.00/month.
3. Trade Stocks: When you support a company you believe in by buying a share of its stock, you will sell it at the rate when you decide to sell, hopefully resulting in a profit. While sometimes precarious, many people make enough to fund their IRA.
To get started, you should research highly anticipated companies, products, and trends in the market. Diversify your funds into multiple different investments to minimize risk. It would be best if you also put effort into learning everything about trading by reading books on investing in putting yourself in the best position possible.
4. Webpage Design: Every business needs a website, but many business owners don’t have the technical skills or know-how to create an attractive, user-friendly, and optimized website. That’s why they hire someone to do it for them. If you have an eye for graphic design and enjoy making things as simple as possible, you can start freelancing as a web designer. You get to use your creativity, and the demand is high. However, their competition is high, too.
You can earn up to $60/hr as a website designer. However, you need to work hard and lower your rates in the beginning to attract clients. Luckily, clients will regularly need to update their websites. Once you get a client who seems happy with your work, they will continue coming to you for all their design needs.
5. Disc Jockey: Do you have a natural ear for music and possess some basic DJ equipment? You can start a gig as a freelance disc jockey. The amount you make determines your experience, reputation, location, and the type of gigs you book. See the following average pay per DJ gig type:
Night Life DJ: $50 – $200; Corporate DJ: $300 – $600; Wedding DJ: $500 – $700; Touring DJ: $250 – $2,500; Superstar DJ: $2,500 – $25,000. Most people won’t make it to superstar Dj status, but you can still make some decent money and have fun. Getting high-paid gigs means you must network within the industry and promote yourself heavily and effectively.
6. Tutor: “The doors of the world are opened to people who can read.” ~ Ben Carson. Many children struggled to learn course material from home last year and can use some additional help. If you have always had academic prowess, consider working as a tutor to students or people learning English as a second language. You can go through an educational institution or tutoring agency or find a private client.
Most private tutors earn more and make an average of $25/hr, but rich clients will pay more if they like you and you have the right knowledge. While you make money from tutoring, you will also know you contributed to a person’s education and maybe even motivated them. It should put some good energy into your world and make you feel positive and confident.
7. Server/Bartender: Serving jobs usually need shifts during the night and weekend, making it a reliable source of income outside your 9 – 5. The job requires a lot of energy, and some customers can be inappropriate. You also won’t experience financial consistency and may smell like ketchup when you get home.
However, hours are flexible, you get to work with great people, get discounts on drinks, and you can make a lot of money at certain establishments. Get a job at a high-end restaurant or bar instead of a small diner, and take busy weekend shifts to make this one of the best side hustles on the list. Just be careful to avoid burnout since the work can get exhausting if you take every shift that comes your way.
8. Ride Share: Popular rideshare companies Uber and Lyft hire drivers with qualifying vehicles as independent contractors to drive people in the area to their destination. You will explore your city and meet interesting people while cruising around town, which suits many people. You can also work at any time you want, allowing for optimum working flexibility.
Unfortunately, not all riders treat your vehicle with respect. You may also find yourself further away from home than expected. On average, rideshare drivers for both companies make an average of $364/month. Of course, this number decreases when you factor in the cost of gas, maintenance, and repairs.
9. Child Care: If you love or have children to care for, get paid to babysit. You can find clients on care.com and other similar sites. The average nanny makes $565.00 a week to watch one infant. Still, rates vary on location, the child’s age, experience, and additional services offered (pet care, tutoring, cooking, transportation, etc……). You will make more if you take n more children, but you must stay mindful of the regulations and certifications required in your area.
You get to play with children and regress yourself a bit, making this one of the funniest side gigs for extra cash. Just be careful to balance your playful mom with your professional side to provide your clients the best image and care.
10. Sell Goods Online: Start an ECommerce website to sell goods to others for a profit. You will need to pay for the items upfront, and you never know if someone will want your stuff. However, a good find can lead to an impressive profit margin.
If you have extra clothes, accessories, and trinkets, you can sell the stuff you already have. You can also make your crafts. Finally, you can search in thrift stores for good finds. Some popular platforms to sell items include eBay, Amazon, Etsy, Craigslist, and Facebook Marketplace. Income from online sales side gigs varies greatly depending on the products you have and how you market them. However, if this 28-year-old made $2400 in 4 months, so can you!
Final Thoughts on These Side Gigs: These side gigs for extra cash will pad your bank account to help you feel more financially secure. You could even use the extra money to splurge something fun on the weekends. But most importantly, you could use the money to start investing in assets that will help you get rich.