9 Side Hustles You Can Try While Keeping Your Day Job
If you’re ready to press the accelerator towards your financial goals, then it might be time to look for a second income stream.
The reasons to generate a second income stream are numerous, but at the core of it, that extra income can provide you and your family with some much needed financial flexibility. Let’s dive into nine different side hustles you can try while working your day job.
9 Ways to Earn a Second Income Stream
A second income stream is something you earn in your off-hours. To make this a sustainable second source of income, it’s best to choose a side job that you have time for and that you enjoy. Keep that in mind as you review the list below.
1.Leverage Your Skills to Offer a Service
Evaluate your skills and consider using those to offer a service and generate a second income stream. Some examples of skills you can turn into a side job include:
- Graphic Design
- Social Media
- Animation or Videography
And the list goes on!
To start, create a profile on sites like Fiverr, Upwork, and Guru. These platforms offer an easy way for freelancers to market their skills and make connections. As you grow, you can migrate away from these sites and scale your client base.
2. Complete Quick Tasks and Run Errands
Not everyone has the time to start their own business and manage a client base. Instead, consider running errands or completing quick tasks when your schedule allows. Websites like Postmates and GrubHub are often looking for delivery drivers.
If driving around isn’t your thing, check out the app Taskrabbit. As a “tasker” on this app, you help individuals in and around their homes doing a range of tasks from IKEA furniture assembly to patching a hole in the wall.
The best part about these jobs is you can decide when you work and how long you work, offering complete flexibility for a second job. You might even get a tip!
3. Share Your Expertise by Tutoring or Teaching
If you know something that others want to learn, start teaching it. Languages and professional skills are highly sought after on online learning platforms. You can teach through sites like Skillshare or Preply which offer a way for you to easily structure a course using modules and a variety of teaching tools.
Alternatively, you can offer private sessions using Skype or Zoom. Just keep in mind that if you work privately, you will also need to market your services and send your invoices.
4. Create An Online Resource to Sell
Teaching something ‘live’ can dig into much needed personal time. If this doesn’t work for you, you can share your skills and knowledge by creating an online resource like a workbook or ebook. You can easily create your resource using free services like Canva or even Google Docs.
Not only are online resources a minimal upfront investment, but you can also sell them online for years to come. Many individuals will integrate an e-commerce plug-in and sell directly off their own website. However, you can also self publish and sell your resources on Amazon or Blurb.com.
5. Grow Your Audience on a Platform
Social media platforms can have the potential to be a lucrative side income stream. By growing your audience, you can market affiliates and products which generate some extra money.
While this is a fun side hustle, it does take time and a solid strategy to grow your audience enough to generate income. This means it may not be the best second job idea if you want to have extra cash in your pocket right away.
6. Rent Out Your Home or Car
There is an entire sharing economy that allows you to rent out your home or even your car. Some common options include:
- Airbnb – Rent out rooms or your entire home
- Turo – Rent out your car while it is not in use
- Uber or Lyft – Sign up to drive others in your car
Lastly, if you live in a city where parking is scarce, you can even rent out your driveway on sites like Pavemint.
7. Turn Your Craft Into a Business
Made-to-order and unique custom items are growing in popularity and now more than ever. If you have a crafty hobby, consider selling your products online.
Websites like Etsy allow you to set up your own online store and help you manage all payments and processes. It can be a great way to create a second income stream while doing something you love.
8. Re-sell Items on Amazon or eBay
Whether it’s vintage clothes at your local thrift store or drop shipping, reselling is a great way to start your entrepreneurial journey with very minimal cash requirements upfront. You can register with existing storefronts like Amazon and eBay to sell your items. This way you don’t not need to run your own marketing campaigns.
Keep in mind, these sites will charge you a fee, so always run the numbers to see if you will be profitable with what you are listing.
9. Open A Passive Investment Account
One of the best ways to create a second income stream is to start investing. When investing is done wisely, you’re able to make your money work for you. You should note that investing is never a ‘get rich quick’ process and the extra money you make is often reinvested to grow your wealth over time.
If you want an easy way to start investing, consider opening a Finch account. Finch lets customers earn investment returns by automatically investing their checking balance into a portfolio designed to match their unique risk profile. This means your entire balance is always working for you, from day one, no matter what your balance is. Unlike other investment accounts, Finch offers complete flexibility by allowing customers instant access to their money when they need it – even the invested part!
By keeping your money in Finch, you could increase your wealth by up to 50% every ten years.
The Best Second Jobs Are The Ones That Work With Your Life
Your time is important, so before you pursue a second income, be clear on your why and how. This will help you stay motivated and interested in your side job.
Your ‘why’ is often attached to a goal. Whether you’re paying off debt, saving for a trip, or putting money away for retirement, your goals will help you have a plan for the extra money you earn.
Your ‘how’ is tied to your own personal situation. A second income stream will require your commitment outside of work hours so choose one that works with your life.
Once you have identified your why and how, then it is time to experiment. The list above represents just a few of the many second income ideas. Try a few and see what works best for you.