A side hustle can increase your monthly income significantly in just a few hours a week. It can also support you with extra money when unexpected work circumstances arise.
“I started a YouTube channel in March of 2020 when COVID got real where I resided” I wasn’t sure where the next pay check was coming from or how I was supposed to support my family at such a hard time.. so I started out putting videos up on YouTube and my channel grew overtime, currently my YouTube channel now generates $3,000 a month and has a variety of income streams. It even makes me money while on a day job.
Two in five Americans have a side hustle, according to a Harris poll of 2,001 Americans commissioned by Zapier, a marketing automation company. If you’re curious about entrepreneurship, but want to take a risk-free approach, side hustles offer the best of both worlds and can put extra cash in your pocket.
Here are the side hustle ideas that are popular now, along with stories from people who are using them to make extra money every month.
Not only is it possible to make extra money with a side hustle as a busy professional, but doing so can be a way to stay ahead of inflation and add an additional 10% or 20% to your monthly income outside your full-time job. Here are 10 popular income streams to consider in 2023 as a busy professional
Top 10 Side Hustles to Consider
- Rent out your car
- Become an online coach
- Build passive income with real estate
- Offer in-person services
- Start a YouTube channel
- Monetize your property on Airbnb
- Sell a product online
- Do freelance work
- Launch a paid newsletter or subscription
- Promote other brands and take a commission
If you have a vehicle that doesn’t get used much, you could rent it out and make extra money.
Veiga enjoyed his experience as a customer. His family household juggles five cars in total, so he decided to list some of them on Turo. The extra money was so good that Daniel and his family bought five more cars and listed them. They made $4,339 in April 2022, an average of over $400 per car per month.
If you don’t need to use your car all the time, renting your vehicle could be one of your best side hustles for your situation at any given time.
The online training and education industry will be valued at $243 billion in 2022, according to Statistics. If you are knowledgeable and/or experienced in a certain topic, your expertise could be used to make good money coaching or consulting people online as a side hustle.
You can get certified or share your skills and experiences, Online coaching can be great if you enjoy solving problems and working with people. The overhead to run an online coaching side hustle is minimal, and you can charge per hour or per month to create recurring revenue.
A shortage of inventory and rising material costs have resulted in a red-hot housing market. Even with mortgage rates being more volatile than usual, real estate investment is one of the best side hustles when you’re strapped for time.
Real estate investing can be done by buying individual properties or joining a group that invests in real estate. It can be a side hustle that pays good money while not eating up all your spare time, but it’s important to know your numbers before getting started.
In-person services are a tried-and-true side hustle. If you have time on your hands, consider leveraging it to make more money and increase your overall monthly income.
Take pet care, for example. Pet-sitting is a multi-billion dollar industry, according to reporting from Grand View Research, a data research company.
Remote work sometimes means more time flexibility at home. If you have extra spare time on your hands, consider animal sitting or other in-person services as a fun side hustle that helps you earn money.
A YouTube channel is a side hustle idea that has the potential to earn you additional monthly income on social media. You can record and publish videos that educate viewers on a certain topic, create reaction videos, or vlog your life.
Related: How to Make Money on YouTube
From a YouTube channel, one can make around $3,000 per month, and ton of affiliated revenues. 60% of this revenue comes from affiliate links on his videos. The remaining 40% comes from a combination of paid partnerships, personal training inquiries, and AdSense.
If having a creative outlet appeals to you, consider creating content and publishing it on a platform like YouTube, TikTok, or Instagram to grow an audience and eventually pursue additional income streams. Online platforms can be a great way to make extra cash and relieve financial stress.
If you like the idea of real estate investing, but don’t want your property to be leased out for years on end, consider listing your property or spare room on Airbnb. Millions of consumers book Airbnbs as an alternative to hotels; I know of someone who travels full-time, and has booked over 150 Airbnbs in 40 countries.
You also don’t need to list an entire property for your side hustle to fly on Airbnb. Many people choose to list a portion of their home or even a single spare room.
“A house, part of a house, or even a room can be listed on Airbnb,” he says. “You may have a side hustle opportunity in the space you already have.”
Airbnb can also be a great option if you want to stay connected to a part of the world that has special meaning to you.
Some of the best side hustles are ones in which you treat the work like your own business, step into the role of CEO, and start generating extra money passively.
Millions of people buy things every day from an online store like Amazon, their favorite retailer, or a small business on social media.in the year 2022, e-commerce sales was estimated at $870.8 billion.
If you’re passionate about a certain industry or want to solve a specific problem, consider producing and selling the product you wish you had. Set up an online store so you can start selling online and bring in extra money each month.
Your products don’t have to be new. Listing gently-used items on social media, eBay, or Facebook marketplace groups can be a side hustle that not only brings in more money, but also declutters your home.
Freelance work is a great side hustle, and companies are almost always looking for skilled labor to help them get things done. A few examples of freelance work include:
- Writing articles, social media posts, newsletters, and/or blogs.
- Managing social media accounts, email lists, digital marketing, and/or websites on your client’s behalf.
- Having a remote, “fractional” role at a company, where you are not an employee, but are available for questions and guidance throughout the month.
- Becoming a virtual assistant and completing tasks on behalf of your client for an hourly rate.
If you plan to pitch business owners or companies, you might want to consider creating a business formation. This will allow you to operate as a company, even if it’s just you, and doing so will give you tax perks and keep more of your extra income in your pocket at the end of the year.
Why only be paid once for your efforts? Subscriptions, memberships, and paid newsletters let you get paid over and over again for the work that you do in your spare time.
Tools like Patreon and Ko-fi are designed to help people develop recurring revenue streams. Creator culture is one of the hottest side hustles at the moment, and the thought of offering direct-to-consumer memberships or subscriptions as a way to generate extra income is compelling to many.
If you’re strapped for both time and brain power, but are still curious about having a side hustle, one of the best side hustle ideas to consider is affiliate marketing.
Affiliates use special links or discount codes to promote their favorite products and services. If you’ve ever listened to a podcast episode and heard the host mention a discount code during a commercial, that’s affiliate marketing in a nutshell. Depending on the terms and conditions of the agreement, affiliate marketing can be either a one-time payout or a recurring monthly payout, and commissions vary widely.
If you need a side hustle idea that doesn’t require you delivering a product or service, affiliate links might be one of the best side hustles for bringing in extra income each month.
It’s easier than ever to start a single-product business as a side hustle. You can make a website or social media account for your product to market it, and either handle the fulfillment yourself or outsource it to a third-party service. You can scale your business up or down to fit your lifestyle.
Utah-based couple Diana and Michael Stone run Viola Grace Shop, a wrapping paper side hustle that did over $150,000 in revenue in 2022. They started the side hustle idea six years ago, and say they spent three years testing out different wrapping paper ideas on Etsy before ramping things up. To keep costs low, they print a customer’s paper once it’s been ordered, which cuts down on maintaining inventory.
These here are 10 amazing ideas any busy professional can try out, They are cost effective and efficient for every kind of person, and there you have it for today’s article, ill most definitely love to hear your thoughts in the comments, which of these is your favorite side hustle idea?