What Are the Most Profitable Side Hustles for Extra Income?

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Written By Adeyemi Adetilewa

Side hustles are meant for employees who are business-minded but don’t want to quit their jobs. Life as a side hustler is not easy at all.

However, with the extra bills, the huge loans, and other essential expenses, that extra cash is needed, hence the need for a side hustle. Trying something different to make money is the way to go to keep up with today’s economy. 

You agree with me that the pay from your full-time job is not enough, and the loans are way too much for you. Don’t be stressed out. Below are the most profitable side hustles that you can do.

But first, let’s see what to consider before giving the side hustles a try.  

Some factors to consider before giving side hustles a try

a). Time 

Time can allow or deny you the chance of getting into a side hustle world. Ask yourself if you have extra time to do the side hustle. Remember that you don’t want to lose your full-time job because you also need that salary.

Calculate the time you spend in your day job, your family, and see the available time you remain with. Doing this will give you a lead on which direction you should take.  

b). The money required 

All businesses require capital to establish, and a personal side hustle is no exception. If you want to be an employed side hustler, this requirement can be overlooked. It only becomes important if you want a business of your own.

It doesn’t have to be a considerable amount of money. You want to make more money, right? So, it would be unrealistic to invest all your hard-earned money in a side hustle business! If you need funding, try an SME loan

c). The limitations  

Weight out the possible adverse effects that the side hustle job may have.

Having an idea of the failures that may occur in the future will prepare you to deal with the challenge in the best way. It will also give you a chance to change your mind in case the negatives surpass the positives.  

d). Willingness 

As much as it is desperation, which forces you to look for a side job, commitment is also needed.

Determination will help you endure the difficulties you will face in this journey. Don’t take the job just for the sake of it. You need to have a passion for you to add more coins in your bank account.  

So now that you are sure you are qualified to be a side hustler read through and see what option works best for you. 

1. Cutting down your expenses 

The Most Profitable Side Hustles for Extra Income in 2020It may sound ridiculous to be told that lowering your budget is a side hustle job. It is the perfect option you can think of.

Reducing your spending can be considered as a side hustle because it serves the same purpose as other options. Regardless of what you do as a side job, the aim is one-to have extra money at the end.

So, think of it this way. Instead of having an unnecessary vacation, save the money to pay for your child’s school fees.

Avoid taking unnecessary loans to prevent debts. After all, that debt is one of the reasons that will force you into a side hustle job.  

2. Blogging 

According to research, bloggers are one of the highly paid side hustlers. Pro bloggers readers show that 63 percent of bloggers make between $0.01 to 0.10 percent.

Out of the remaining 47 percent, 37 percent earn more than $100, and 10 percent make nothing. This shows that with blogging, financial problems will no longer be your concern.

However, uniqueness is required in this field. If you are not smart enough, you might end up in the 10 percent group who make nothing at all. Surely you wouldn’t want that to happen.  

3. Driving 

A huge percentage of people know how to drive. The most common skill among youth is driving. As a smart young person, get yourself into driving businesses so that you pay for your bills without struggling.

How cool it will be to be driving to different places rather than doing a boring side job that requires much of your energy.  

Even as a middle-aged person, driving can be a good side job for you. There are two options. You can give out your car to the Uber management, or you become their driver.

The good thing about this is that you can sneak during your job hours and carry at least two clients.

Life is all about taking risks, so why not transport clients and get the extra cash instead of gossiping with your colleagues during lunch hours? Thank me later. 

4. Photography 

Nowadays, photography is trending so much. It is no longer a cheap job that was despised by others in those old days. It is a game-changer today.

You can make a lot of money from photography. The good thing is that it is seasonal and flexible. This will help you plan yourself, and you won’t interfere with your full-time job.

Moreover, photography has unlimited time. It can be done anytime and anywhere. You just have to look for potential clients and polish your skills to be the best. Give it a try, and you won’t regret it.  

5. Online writing 

You can never go wrong with online writing. It can be done anywhere and anytime as long as you have internet and a computer. Do you know what this means?

Well, you can make money while you are in the office without anyone noticing. Rather than being idle in the office when waiting for your boss to hand over files to you, write an article.  

There is so much to do in this field. You can choose to charge your article based on pages, words, or hours. In your case, forget about the hours because your day job requires attention; thus, you won’t deliver on time.

You can make so much money from it. It ranges from $500 up to the highest you can think of. It just depends on your speed and commitment.  

The bottom line: Profitable side hustles 

I will not lie to you, side hustles are not easy. It requires effort, sacrifice, and commitment. Its profitability depends on the amount of energy you put into it. Go through the mentioned choices and settle on what you can do best.

Disclaimer. The views and opinions expressed here are those of the authors. They do not purport to reflect the opinions or views of IdeasPlusBusiness.com. Any content provided by our bloggers or authors is of their opinion and is not intended to malign any organization, company, individual, or anyone or anything.

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