One in three Americans has a side hustle, which shows we’re eager to boost our income.
Thanks to the internet, there are many ways we can capitalize on our passion, whether it’s selling on Etsy to starting a service. But this can feel overwhelming, to begin with. Perhaps you’re looking into boosting your income but you’re not sure where to start.
Here are 5 ways you can start earning an extra income:-
- Invest in Real Estate
You’ve been rewarded with this degree, but you’re still wondering how you can increase your income. A simple way is to invest in real estate because you can generate a passive income.
If you don’t have a large budget, consider buying a condo or small apartment in an up-and-coming neighborhood. Then, work with a real estate agent and they and they can vet potential tenants to see if they’re reliable.
- Drive an Uber or Lyft
Anyone desperate for extra cash should drive an Uber or Lyft.
The beauty is you can keep your regular job and work in the evenings or over the weekend. You can also choose to work as little or often as you want, depending on your schedule. Plus, you get to meet an array of colorful characters and listen to their stories.
- Try Pet Sitting
Tap into your entrepreneurial spirit and try pet sitting. Ask your neighbors, advertise your services on social media, and use websites like Rover or Wag. As you start building a customer base, ask each one to leave a positive comment so others know you’re reliable.
- Upcycled Items and Sell Them
Another fantastic income stream is upcycling old items and selling them online. You could also work with local boutiques or consignment shops so you work on commission.
A major benefit of this side hustle is you needn’t spend a fortune on the project. You simply need to sand, varnish and paint each item to earn a killing.
- Rent Out a Room
If you don’t have time for a side gig, then maximize your current assets. Homeowners with a spare room should rent it out on a long- or short-term period, depending on your flexibility. For instance, if you’re going on vacation for a week, then advertise your property on Airbnb and increase your prices during peak season.
Also, rent out your car if you’re trustworthy. But use a reliable service like Turo as they cover your vehicle with liability insurance along with theft and damage coverage to give you peace of mind.
Our Tips for Earning an Extra Income
Regardless of your industry, there are many ways you can start earning an extra income.
Start by investing in real estate, drive an Uber, and spend your free time pet sitting. You could also sell upcycled items or rent out a room whenever you’re out of town. Good luck with your venture!