Although inflation dropped to 6.5% in December, it is still quite high. Many Americans are feeling financially pinched from more than a year of above average inflation, combined with raises that did not keep up with inflation. So, I was not surprised to read that more and more Americans are taking on a second job or a side hustle. I was a bit surprised, however, that the percentage has risen to 93%, according to a survey by Insuranks (https://www.insuranks.com/side-hustles-2022). That means that nearly everyone you know is working two or more jobs or engaging in some type of second-income generating enterprise.
The survey found that the most common reasons for taking on a side hustle were (1) to earn a bit of extra cash and/or to have something to do, (2) to make ends meet, (3) enjoyment, (4) helping to deal with inflation, and (5) paying off debts sooner. https://www.insuranks.com/side-hustles-2022
On average, people surveyed earned nearly $500 extra per month from their side hustles. Most people I know would be happy to bring in an additional $500 per month, especially if they could earn it on their own schedule and from their own home. Here are some options that meet these criteria.
- Online surveys. Online surveys do not pay much, typically between $0.50 and $5.00 per survey. However, most surveys can be completed in 10 minutes or less. Let’s suppose that the average survey pays $2.50 and takes 10 minutes to compete. If you have 4 hours per week to devote to taking surveys, you could earn $240 per month ($2.50 * 6 surveys per hour * 4 hours per week*4 weeks per month). If you have 1 hour per day, your potential earnings would increase to $450. You want to make sure that you find legitimate sites and try a few to see which site works best for you. To learn more about the most trusted online survey sites, see https://walletmanual.com/best-paid-online-survey-sites?utm_source=adwords&gclid=CjwKCAiArNOeBhAHEiwAze_nKKY1EnXT4IT4YSOCi2oXlcxdMxQJ9zHxXpo5TaBi4Km0pfGNjjCSohoC-kUQAvD_BwE
- Earn money from your hobby. Do you paint, make jewelry, or sew? These and many other hobbies can earn you money online. You can sell your handmade items online at Etsy, Ebay, WooCommerce, Shopify, and many other portals. Potential earnings will depend on the products that you make and your ability to market your products effectively. To learn about alternative sites to Etsy, see https://www.cloudways.com/blog/etsy-alternatives/
- Teach online. Online classes gained in popularity during covid, but even before covid, many people were teaching online classes. I know people who teach English to children in Asia online—this requires adapting your life to their schedule. I know other people who teach piano, guitar, sewing, singing, and art online. Your earnings will vary depending your industry. For instance, piano teachers earn $40 or more per hour for private lessons, whereas teaching English to foreign students will pay in the range of $15 – $26 per hour.
- Freelance. There are many opportunities to earn money as a free-lancer. Some of the skills most in demand are graphic design, web site development, social media management, and virtual assistance. You can take one-time jobs or secure a regular gig as a part-time free-lancer. I have a client who has been a virtual assistant for several years. She has four clients that each require 4 – 8 hours of her time per week. She sets aside 2 hours per week per client for communications with them. They email her tasks to be completed, and she typically has 4 – 5 work days to complete them. She can do the tasks at 2 pm or 2 am, so long as they are completed by the deadline. For a list of sites that match free-lancers with those in need of having tasks completed, see https://www.hostinger.com/tutorials/best-freelance-websites. You will make more money if you market yourself independently and find your own clients, however.
- Sell clothing and other unwanted items online. There are many sites where you can list belongings you no longer need. You earn cash while de-cluttering your home. Ebay and Craigslist were among the first sites to offer this service, but today there are many. If you are selling clothing, look for a site that specializes in clothing. For guidance and sites for selling clothing, see https://www.goodhousekeeping.com/life/money/g26415683/how-to-sell-clothes-online-sites/. For household items, see https://www.familyhandyman.com/article/best-websites-for-selling-your-stuff/
If you need some extra money, or if you have extra time on your hands, a side hustle may be a good choice for you. Those discussed above can be done at your leisure from the warmth and comfort of your home. There are many other options available, particularly if you are looking to get out of the house.
Do you have a side hustle? Feel free to share your ideas in the comments.
As you earn more money, be sure to thank God for the abilities He has given you and to honor Him with your money. To learn more about how to honor God with your money and build treasure in Heaven, please click the Finances categories tab to find many blogs on money management, budgeting, and stewardship. My book Honoring God with Your Money is a great tool for financial money management.