The cost of living continues to rise, but salaries often fail to keep pace with it. Many families take on multiple jobs just to stay afloat, while others take them on just to pad their savings a bit more. Regardless of why you want some side income, there are plenty of options to choose from for all walks of life.
Pick Up a Freelance Gig
If you have a particular skill set, you can freelance to pick up a few clients to work for outside of your main career gig. Platforms like Upwork, Fiverr, and LinkedIn can connect you to tons of clients looking for short-term contractors. Skills like writing, art, graphic design, web design, app development, software development, and more are in high demand. Craft a resume based on the role you’re looking for, and you’re more likely to get a few bites. You can make a ton of money in your free time with some freelance work.
House-Sit or Dog-Sit
With pet-sitter apps like Rover, you can easily find clients who need someone to pet-sit for a weekend or two. If you enjoy animals, consider signing up to earn some extra income while caring for dogs or cats. You can invite pets into your home or head to the client’s home to care for them. If pets aren’t your thing, you can use other platforms strictly for house sitting. These clients will want someone to watch their home while they’re away. These are ideal gigs if you don’t mind spending time outside of your home or inviting a furry friend into your life temporarily.
Join Rideshare or Delivery Apps
Food delivery apps are plentiful in modern times. Since the pandemic, people have become accustomed to the convenience of having food, groceries, or any purchase delivered to their doorstep. If delivering orders sounds appealing to you, joining platforms like DoorDash or Uber Eats can provide a significant income in your free time. You can also use programs like Lyft or Uber to transport people to their destinations. All you need is a reliable car. These apps do not employ you, so you can work whenever you like. Consider working peak hours in your area to earn a quick income.
Start Tutoring
If you hold a degree or professional license in a subject, tutoring can provide you with easy access to paying clients. You can tutor kids and help with their homework, or sell classes to young professionals in your industry. Like other freelance gigs, you can network yourself as a tutor on professional platforms to gain more interest.
Rent Out Your Home
While you may not have the cash to purchase an entire rental property, you may be sitting on some extra space that you’re not using, which can easily be converted into rental income. If you have a spare room, a finished basement, an in-law suite, or even a vacation home, consider listing them as a rental option. Many people look for short-term or long-term rented rooms to save money. If you don’t mind sharing your home or property with someone, you can make a lot of money. If you prefer short-term rentals, consider apps like Airbnb or VRBO to make the process easier and more secure. Longer-term rentals will require more paperwork, so you’ll want to opt for property management software and list your rooms on platforms like Zillow. Renting out your space can be very lucrative in some cities where housing costs are high.
Denver
If you live in the Denver area, you’re likely aware that renting or buying a home can be quite expensive. The average home price is nearly $600,000, so providing an affordable room or home to rent can be a profitable venture for you, especially if you need help paying off your mortgage. Paying off your mortgage faster is a great idea, as you’ll pay less interest over time and you’ll get rid of mortgage insurance if you took on Denver FHA loans or similar programs with lower down payments.
San Francisco
In the Bay Area, homeownership typically requires an average budget of $1.3 million to afford a home. Owning a house here might as well be a blank check for you. Consider generating rental income for tourists or young professionals looking to save money on rent.
New York City
Like the Bay Area, New York City is one of the hottest places to own real estate. In Manhattan, you’ve likely paid at least $1.2 million for your home. This city is one of the most popular places to live or visit, which can provide you with a steady stream of rental income on the side.
Plan a Garage Sale
If you have spare belongings in working condition, a garage sale can be a smart way to earn some extra bucks. Garage sales won’t provide steady income, but you’ll declutter your home as a bonus. Advertise the sale on local forums, such as Reddit, Nextdoor, and Facebook, to generate interest. Posting signs in your neighborhood or city is also a smart move. You can also sell your goods online to reach a wider audience. Selling homemade goods online is another option; opening an e-commerce shop on platforms like Etsy can help you earn money from your hobbies.
Increase Your Investments
If you want to make more passive income, consider investing. High-yield savings accounts, index funds, and dividend stocks can give you extra income depending on how much you invest. Consult with a financial advisor to discuss your options and explore potential solutions. These options are often slower, but they’re relatively hands-free.
Conclusion
Desiring to earn more income to support yourself or your family is a common goal. There are numerous options available to help your take-home pay go farther. Side gigs are more popular than ever, thanks to the rise of remote jobs and freelancing platforms. Rental income is also a safe way to generate some extra cash. Some even find a new business venture by starting a promising side gig.