Raise your hand if you want to make more money. Yep, I see you out there. In fact, I don’t know a single person on the planet who wouldn’t enjoy an extra $100, $200 or even $500 more a month.
Luckily, with the advent of the internet and the sharing economy, there are more ways than ever to start making money on the side. Plus, you still have many tried-and-true options when it comes to getting a second job.
You might want to know why making money on the side is a good option. After all, working extra jobs can take time away from family, and it can also be exhausting.
What I want you to know is that you don’t have to make money on the side forever. It’s just a temporary option available if you’re trying to reach a specific financial goal.
So, what types of jobs can you do on the side to earn extra money? Below are three examples.
Many people decide to work a few hours a week at the mall to earn extra money. The reason this works well is because retail stores are often open late and on the weekends. That means you can work 20 hours a week in a retail store in addition to a full-time job. According to the Bureau of Labor Statistics, those who work in clothing or shoe stores make just over $11 per hour on average.
At 20 hours a week, that’s an extra $220 a month in your pocket. You can use that extra money to pay down your credit card bill, save for a summer vacation or build your first emergency fund. Remember, it’s not forever. It’s simply an option available to help you get in a better financial position.
Freelance writing is my favorite side hustle, mostly because this is how I started earning money on the side seven years ago. When I started freelance writing, I earned $8 per blog post. This enabled me to add $200-$300 per month in extra income, which I used to pay down my student loans.
There are many resources online that can teach you how to get started as a freelance writer. To me, the simplest way to get started is to create your own, inexpensive website that you can use as a writing portfolio. Write a few blog posts about topics you’re passionate about, post them on your blog and then use them to show potential clients that you can write well.
There are numerous job boards that post freelance writing jobs. Problogger is one of the most well known. When I was just starting out as a freelance writer, I visited the Problogger job board every single day looking for opportunities. Whether you’re a travel writer, marketer or someone who only wants to write about training their dog, there is a job for you out there.
These days, it’s relatively simple to become a driver for a rideshare company if you meet their requirements. If you’re approved as a driver, you can choose when you work. Keep in mind that being a rideshare driver comes with expenses. You’ll be responsible for gas, insurance on your car and general wear and tear on your vehicle.
A recent (although heavily debated) study by MIT revealed rideshare drivers can actually make around $8-$10 per hour. While you could make more working in retail, the biggest benefit of ride sharing is being able to work when you want.
Personally, I think ridesharing could be a worthwhile side hustle, but it really depends on the individual driver’s expenses. If a driver is leasing their car and it requires premium gas, they will have higher expenses than someone who is driving a 5-year-old vehicle that’s paid for. So, before you decide to pursue this side hustle, do the math first to ensure it’s the best option for you.
Ultimately, there are dozens of side hustles you can do to bring in extra money. Whether you’re interested in graphic design, photography, being a virtual assistant, baking or walking dogs, the possibilities are truly endless.
My advice is to try and find a side hustle that fits your skills, interests and experience so you can truly enjoy what you do while you earn extra cash. Then, once you earn extra money, use it wisely to help improve your overall financial health.
Again, you don’t have to hustle forever, but it’s a great way to help you get to where you want to be financially a lot faster.
Catherine Alford is compensated by OneMain.
Click here to learn more about our featured financial experts.