Everyone desires financial security, but not everyone is willing to put in the work required to achieve it. Taking time off from work could leave you without income if you suddenly become unemployed or stop working. As an alternative, passive income can provide a means for you to earn more in good times and tide you over during bad times.
Creating residual income can be a very effective way to increase your monthly cash flow. This is because you get to set yourself up for a comfortable future without having to constantly grind away at your job; whether you run a side business and/or are just looking to make a bit of extra money each month.
When most people think of passive income, they think of investing. The truth is there are many other ways to generate passive income streams. One easy way to do this is through a side hustle. A side hustle can be anything from freelancing to starting a small business. While it may require some hard work up-front, a side hustle (if done correctly) can be a great source of passive income once it’s up and running. So, if you’re looking for a way to generate some extra cash, keep reading.
Part-Time Jobs VS. Side Hustles
A side hustle is a term used to describe a job or business that is supplemental to one’s primary source of income. A side hustle can make you extra money and it can be something you do in addition to your day job. This can help you build your skills and experience. There are many reasons why someone might want to start a side hustle – the benefits can be significant.
A lot of people are under the impression that side hustle and part-time jobs are the same. They’re not. In reality, there’s a pretty big difference between the two. So, what exactly makes these two concepts different? Let’s take a closer look.
When it comes to having a side hustle, you have complete control. You get to choose what you want to do and when you want to do it. Plus, there are no limits on how much money you can make. Alternatively, a part-time job will typically limit your schedule and limit your earnings.
It is an employment option that offers employees fewer hours than a full-time job. Part-time jobs can be beneficial for students, people who want to supplement their income, or those who are unable to work full time for health reasons.
How to Make Sure Your Side Hustle is OK with Your Employer
When you’re busy with a full-time job, it can be tough to find the time and energy to start up a side hustle. But if you’re careful and plan correctly, you can make sure that your side hustle doesn’t cause any problems with your employer. You might think that your boss is on board with the idea of you having a side hustle, but it’s smart to check beforehand just in case. You don’t want any negative repercussions for having another job outside of your regular working hours.
Many employers frown on employees who work more than one job at a time and may terminate your employment if they find out. Make sure your second job doesn’t interfere with your normal working hours. Let them know what kind of side hustle you’re thinking of starting up and hope for their blessing. They may have some concerns or want you to agree not to spend time on your side hustle during regular business hours. If you’re spending most of your time engaged in your side hustle instead of your job, you’re almost certain to run into trouble. Set some boundaries for yourself. Make sure your side hustle doesn’t interfere with your full-time job. In addition, make sure you’re not violating any laws or regulations with your employer when doing your side hustle.
If your side hustle conflicts with your full-time job, be aware of the possible consequences. Your employer may fire you if it significantly interferes with your regular job duties. This covers not only apparent concerns like working on your side hustle during your full-time job’s working hours but also more subtle issues like letting your side hustle deplete your energy to the point where your full-time job’s work suffers as a result.
If your contract doesn’t prohibit you, assure your boss that you’re following all of the company’s rules and regulations. Your outside work won’t interfere with your day job and you will continue to provide great job performance. Now that we have covered the basics, let’s dive into the best ways you can start creating passive income.
Top 20 Best Side Hustle Ideas For Beginners Under $1,000
Below are some of the most profitable side hustles to help you earn extra cash.
- Create a Profitable Blog
A money-making blog can be a worthwhile way to turn your creative writing skills into a side hustle. You can create content that is both informative and entertaining and then use advertising and affiliate marketing to generate revenue. There are many different ways to make a money-making blog successful, so it’s critical to find what works best for you. By using the correct techniques, you can start generating extra income from your blog.
- Become an Online Proofreader
Do you have a talent for finding typos in written material? Do you know how to communicate effectively in English? If that’s the case, proofreading may be the perfect side hustle for you.
Proofreading can be a lucrative side job for anyone who wants to make extra money. It’s a freelance activity that doesn’t require a lot of training or experience and there are always opportunities to find new clients. Plus, it’s a skill that can be used in many different industries. If you’re looking for a way to make extra cash, proofreading may be an ideal option for you.
- Managing Airbnbs for owners
Managing other people’s houses on Airbnb could be the perfect opportunity for you. It’s a way to get started with Airbnb without having to buy a property. It’s low-risk and doesn’t necessitate a significant investment of your time or money. Most significantly, it pays well and provides a positive return on investment.
You could be in charge of listing the properties, contacting guests, resolving any issues that arise and making sure the property is clean and ready for new guests.
- Become An Affiliate Marketer
Affiliate marketing might be a suitable option for you if you’re looking for a way to bring in additional money. It is an easy way to earn money online and it’s perfect if you want to start earning some extra cash. Affiliate marketing is a process by which you promote products or services for others in exchange for a commission on the sale. It can be a rewarding way to make extra income and it’s something you can do from home, with relatively low start-up costs.
Many larger companies, such as Amazon, make it simple to sign up as an affiliate. Most of their websites include affiliate links in the footer of their website. Even if an affiliate program link isn’t visible, that doesn’t mean the firm (or individual) doesn’t provide one. If you have a favorite product or service that you frequently promote, ask if they have an affiliate or referral program.
- Run Facebook Advertising
Facebook is a powerful advertising platform. If you know how to use it correctly, you can generate a lot of money. Posting ads for local businesses on Facebook is an easy way to make that happen. You don’t need any special skills, it’s not too time-consuming. Even if you’re a beginner in the marketing field, you can still compete with established companies by using social media knowledge that everyone has access to.
Without giving up your full-time job or much of your free time, you may make money managing Facebook advertisements for local businesses. Getting started can be entirely free. When you start, you may need to take a few clients at lower fees to build your portfolio and experience, but don’t keep those rates long-term. Every month, increase your rates and client work until you’ve reached a rate and workload that you’re happy with.
- Start a Dropshipping Business
Dropshipping is a viable business model for aspiring entrepreneurs. It lets you sell a product to a consumer directly without having to purchase the inventory upfront. With a business such as this, your main focus should be marketing and customer service – the lifeblood of any company. The manufacturer not only keeps it on hand, but also sends it directly to your customers.
- Investing in Stocks or Crypto
There are ways to make money, even if you have less than $1k. One way is through investing in stocks or crypto, which carries risks but also has potential for profit in the end.
Both of these options can help you earn a handsome return on your investment. Keep in mind, though, that it’s imperative to do your research before investing in either of these markets. Otherwise, you may end up losing money instead of making it.
Cryptocurrencies outperformed stocks and were the best-performing asset class. It’s also a lot younger and has a lot more risk than traditional investments like bonds or real estate; some people even believe it may go to zero (probably those same types who dismissed internet technologies).
When it comes to investments, the stock market is probably at the top of your list. Stocks are the most common method for investors to gain financial security. While they may not offer as spectacular a return, stocks still maintain your investments in assets with proven worth and stability – something that can’t always be said about cryptocurrencies or other types of trading platforms
- Selling Information Products Online
Do you have a hobby or interest that you could turn into an information product? Maybe you’re a whiz with computers and can teach people how to use software like Microsoft Office. Maybe you’re an expert at organizing and can help people get their homes in order. Whatever your skill or knowledge set may be, there are many people out there who would love to learn from you. So why not create an information product around it and start selling your course online? It can be a lucrative way to make some extra cash.
Many freelancers, bloggers, and home business owners earn a full-time living by selling their digital products on websites like Amazon, Shopify Plus account holders can even sell directly from Facebook ads with minimal effort. This can also be a very easy way for you to earn some extra income and it doesn’t require a lot of time or effort.
- Become an Instagram Influencer
Can you build your brand if you don’t have a talent or skill set? The most significant element of any business is yourself. If you have something unique about yourself, you can use those strengths as the foundation for developing an online presence. You can build up your following around something that interests you like dogs or photography. You can monetize through sponsored posts, Instagram takeovers, or selling a product on your website.
Being an influencer is a profitable side hustle if you have the right audience. The average fee for one post ranges from $200 to 400, depending on where they are located concerning your account’s size and level of engagement (which will vary).
- Offer Virtual Assistant Services
With the rise in popularity of remote working, businesses are looking for more virtual assistants to help them out. Virtual assistants are the new frontier for business success. They can do everything from data entry to administrative work, making them invaluable in any office industry. You can make $25 per hour as a home-based assistant. It’s also easy enough that even parents who don’t want full-time career opportunities could take this on as their side hustle. This is while still doing other things like errands and raising kids.
Virtual assistants can do anything from creating presentations and spreadsheets to administrative work. The job varies depending on the needs of your client and you’ll be able to help them by taking some stress off their plate.
- Start a Podcast
If you’re new to the world of podcasts, then you may be wondering what are they? A podcast is essentially an online radio show that you can listen to at your convenience. They come in a variety of genres, from news and politics to comedy and music. You can find podcasts on just about any topic imaginable, making them a rich source of information or entertainment.
You can record, edit and publish a podcast episode all from your computer in your spare time. When it comes to monetizing your podcast, there are many options. One popular way is by having companies pay for ads or promotions on the show in exchange for an ad campaign that reaches their customer base and boosts sales. You can also solicit donations to help you and your podcast by offering services that are related to the material on your podcast. For a few dollars a month, you may also offer new opportunities to add value to your community in a unique way.
- Create an App
There’s no doubt that the app market is booming. With over two million apps in both the Apple and Google Play app stores, there’s an app for just about everything. If you have some coding skills, you could create an app and sell it online.
Code canyon and templates can help you create an app and start making money. With a few simple steps, you can be on your way to earning passive income from your very own app. There are many marketplaces where you can sell your app. If you find the right one, you could make a lot of money. Keep in mind that there is some competition in this field, so make sure your app is unique and user-friendly. With a bit of dedication, work and determination, you could turn your app into a successful business venture.
- Flip Inventory on FB Marketplace
On Facebook Marketplace, you may come across a variety of bargain discounts, including getting rid of unwanted items. You may find an old couch, desk, television set, or a set of dishes. Find someone who has things they don’t want, but things you can sell. There are a lot of people who simply want to get rid of old items that can be easily repaired and flipped for profit.
- Start a Vlog on YouTube
Are you passionate about traveling, video games, or swing dancing? If so, take your passion and turn it into a Vlog on YouTube. You could be making money while doing something you love.
There’s no need to have any special skills or experience – all you need is a camera and an interesting topic to talk about. Even if it’s a small niche, you can establish yourself as an expert on the subject. In the beginning, you’ll need to establish a following and create a series of content. However, as you become known for your engaging content, you’ll be able to generate constant revenue in the long run.
- Become a Freelance Writer
Writing for a living is the ultimate side job. It’s a lot of fun, flexible and it pays well. Many online platforms and publications are always in need of updated content. As a freelance writer, you have the freedom to choose the projects you want to work on. Plus, there’s no shortage of writing tips and resources available online to help you get started. If you’re interested, give freelance writing a try.
- Sell Designs Online
Do you have a passion for design? If so, there is no reason why you can’t market your designs online and start earning extra income. There are several platforms available (like Canva) that make it easy to upload your creations and start taking orders. Printing and selling goods with your design on them can help you make money.
With so many different designs and styles out there, you can create something that will be both fashionable and targeted at your specific interests. Businesses like CafePress, Zazzle, and Teespring allow you to design everything from T-shirts to hats and then sell them on their websites. Shopify is also a simple way for entrepreneurs to promote their items on the internet. You can start with your designs and discover what the market wants. You can take it a step further by creating shirts that cleverly encapsulate current events—maybe even one focused on snarky humor.
- Get a part-time job
Working from home doesn’t have to mean sacrificing salary. There are a growing number of websites where you can find part-time remote work and offer high compensation. This type of work allows you to do your job from anywhere in the world, as long as you have an internet connection. It’s a convenient option if you’re looking for more flexibility in your work schedule.
You can find a legit part-time job on remote job websites such as Upwork, Freelancer, Fiverr, Remote OK and FlexJobs. You should also look at the websites of the companies themselves. If you’re interested in working for a certain company, check their website for job vacancies regularly. Most of them allow you to work from home.
- Be An Online Tutor
The online education and tutoring industry has been growing recently, with multiple websites. And most importantly, online tutoring is a flexible way to work from home and fit it into your schedule and other commitments.
Even if it’s a challenging job, if you enjoy it and want to help students excel, you might be able to obtain a long-term, well-paying client. Tutoring sites like VIPkid, Chegg, Skooli, Wyzant, and Qkids may also help you maintain a consistent stream of students.
- Working Data Entry Jobs
Working data entry jobs is a simple way to make extra cash. You can do it from home, and the work is flexible. It is suitable for those with full-time jobs because you can work during the week, or only on weekends.
However, you need to be careful to choose a reputable company to handle the task. FlexJobs, Microworkers, Amazon MTurk, Clickworker, and Fiverr are some of the top sites for obtaining entry-level data entry employment. These are not all high-paying entry-level data jobs, so make sure you choose the ones that best suit your schedule and skills. In addition, how quickly and efficiently you work has an impact on your earnings. There can be a variation in pay, so do your research before you start working.
- Work As A Freelancer
Working as a freelancer can be a great way to make money and have more control over your career. There are many benefits of freelancing, such as being able to set your hours, working from home, and getting to choose the projects you want to do. Additionally, freelancing can help you build your skills and portfolio, which can lead to new opportunities down the road. Finally, freelancing can also be a helpful way to network with other professionals and build relationships in your field.
There are many freelance jobs available, such as app development, photography, graphic designing, and video editing. Ensure the job you take pays well and is flexible enough that you are still able to work your current job. Upwork, Fiverr, Freelancer, Guru, and Flexjobs are among the sites where you can find freelance jobs.
Other Side Hustle Ideas
- Sell photographs
- Become a social media manager
- Vehicle advertising
- Sell thrift store finds
- Become a voice actor
- Narrate audiobooks
- Become a Pinterest VA
- Become a DJ
- Participate in market research
- Become a local tour guide
- Rent your car or parking space
- Make money watching TV
- Get paid to install apps on your phone
- Build an affiliate marketing niche site
- Create an audiobook
- Start a vending machine
- Publish a book
- Become a professional cuddler
- Teach driving lessons
- Become a social media influencer
- Sell your videos
- Use passive income apps
- Create an audio track
- Take paid surveys online
- Personal shopper
- Email marketing
- Become a private lender
- Start an Etsy store
Starting Your Side Hustle
Start looking once you believe that having a side hustle won’t conflict with your full-time job. Side hustles are a great way to make extra money in your off time. You can start by identifying which skills you have or want that would help you on the job, then finding someone willing and able to pay for your service.
When you start a side gig, it can boost your happiness and the money that comes with it. You also have an opportunity to improve your work ethic. Discover the side hustle that will enable you to achieve your most desired goals. It’s something you can do in your free time that can bring you joy. It’s even better – if it’s a job you plan to make your sole source of income in the future.