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A side hustle business isn’t just a wayto make a few hundred extra a week but a way to protect your future and reach that financialindependence.
By the end of this video, you’ll have tengreat side hustle ideas you can pick from to make money every single day. We’re talking side hustle income sourcestoday on Let’s talk money. Joseph Hogue here on the Let’s Talk Moneychannel.
I want to send a shout out to everyone inthe community, thank you for taking a part of your day to be here. Everyone loves to talk about side hustle ideasand making passive income as a way of making a little extra cash but there’s anothervery important reason you need to be setting up your own side hustle business. Freelancing or independent work has explodedover the last few years with more than 60 million Americans already working for-hire. Companies are lovin’ the trend because theydon’t have to pay a lot of the benefits and taxes…soooo it might not be long beforefreelancing is the way everyone works.
Getting your side business started now isgoing to make you ready when the shift happens. Even if you’re not worried about the comingjobs-pocalypse, starting a side hustle idea is just a great way to reach that financialfreedom, a way you can make a little extra to reach your dreams faster and not have tolive paycheck-to-paycheck. The most common question I get about startingfreelancing is where to start, how to find that perfect side hustle strategy you canuse to turn five hours a week into a few hundred dollars. So I’ve taken all the income sources I knowand narrowed them down to my favorite ten. I’ve used six of these side hustle ideasand make money every month from at least four. In fact, I made over $7,200 in March with$600 in one single day. Your monthly income is going to fluctuatea little but put together a few of these ideas and you’ll produce a solid income you cancount on. Now I don’t want you to expect somethingcalled ‘side-hustle’ to be easy.
You will have to hustle on some of these ideasbut the income grows over time and some can become passive income in less than a few months. I built my online income to over two granda month in a year and was making over $6,000 a month within three years.
I tried to keep out the traditional jobs fromthe list, all the side jobs you see on Craigslist. Everyone knows you can make money cleaningsomeone’s house but do you really want to get pruny fingers 10 hours a week? For this list of side hustle ideas, I keptit to the income sources you might not have thought of, the ones that have worked forme and the ones that work the fastest. I’ll include how to get started and howmuch you can expect to make with each side income strategy. I’m also going to reveal three secrets toside hustle success, three critical keys to making money, at the end of the video so makesure you stick around for that. Our first side hustle idea is one of the easiestbut one most people don’t think of because it sounds so official.
Whenever someone signs a contract, they needa notary to witness and sign the document. Becoming a notary takes almost no time andyou can make around $100 each time you witness a contract signing which takes less than halfan hour. Requirements are going to differ by statebut for most, you take an online course that’s all of a few hours and pay a registrationfee. You also need a special type of insurancethrough a bonding agency but the best part is that most of these agencies will get youset up with your state application and all fees, usually for less than $100 Once you’re a notary, real estate agentsand other companies will ask you to come out to witness their signings.
You can easily do three to five a week asa side hustle and make $100 a pop. Our next side hustle hack is a great way toget into real estate investing without any money or at least a smaller budget. I’ve been investing in property since gettingout of the Marine Corps and I love it as a long-term wealth generator but this strategyalso makes it a great side income. We’re talking about wholesaling real estatehere and this is like acting as a middleman to buyers and sellers. You find properties priced below what youthing they’re worth and contract with the seller to buy the house within a month orso. You then set out to find someone that willbuy the house from you at the same time but for a higher price.
So no money or maybe just a few thousand inearnest money has been exchanged when you sign the contract with the seller. The earnest money from your buyer more thanoffsets this so you really don’t need a big bankroll to get started here. You set up the closings to happen at the sametime so you might only actually own the property for all of five minutes before signing itover to your buyer. I recently interviewed Sharon Vornholdt fora future video that says she makes between $5,000 and $10,000 a property and you cando several of these a month.
I would recommend getting familiar with realestate investing, maybe through a few flips or rentals first but this is going to giveyou the experience you need to spot great deals that you can instantly resale. That wholesaling side hustle idea is big timebut this next one you can set up and get started in a day, teaching English online. I did a test run of a few sites and was assignedto students and making money in less than a week. It helps to get a little training first butany native English speaker can learn how to teach in less than a day and there is HUGEdemand for this right now.
You can teach independently through Facebookor Skype, getting students through a blog or marketing, or you can just sign up to oneof the dozens of sites like Preply, Verbling and Tutor.com. All of these sites are legit and will giveyou as many hours as you want. For a 30-minute session, you’ll make between$15 to $50 and most students will need three to five hours a week so you really don’tneed a lot of students to have a very respectable income. Those three keys to side hustle success I’llshare at the end of the video are really going to help this next idea, help you make moneyand avoid some of the biggest mistakes, so stay tuned for those. Next we have affiliate marketing and thisone is going to work best if you already have a blog or another online traffic source butyou can do it with just your social media accounts as well. In affiliate marketing, you sign up on networkslike CJ Affiliates or FlexOffers. These are sites that connect companies withbloggers, YouTubers and other publishers. You sign up for a company’s affiliate programand get a link to their product. You can put that link in a blog post, in aFacebook or Twitter post, just about anywhere someone that might need that product willfind it. If someone clicks on that link and then makesa purchase, you get a commission on the sale. Now there are some keys to remember with affiliatemarketing to be successful. You only want to promote products that youuse and that work really well. Pitching crap products just to make a buckwill alienate your readers and friends. I use affiliate marketing as an income sourceand average around $3,000 a month through my blogs. Just like a lot of these income sources, it’sgoing to vary from month to month but it takes very little time and really adds up when combinedwith a few other side hustles. Our next side hustle is something I love doingbut as a hobby more than for steady income. We’ll call this one flea market flippingbut it’s really any reselling strategy buying at consignment, second-hand or wherever toresale on Craigslist or eBay. I interviewed Rob and Melissa of the FleaMarket Flipper channel here on YouTube about their full-time flipping strategy that supportstheir family. You might want to start with a specific producttype like toys or a type of electronics or just any niche where you can get to know pricesso you know immediately what’s a good deal when you see it. You can also use apps or the eBay site tofind how much you can get in a resale. The best strategy seems to be finding like-newstuff locally at flea markets, thrift stores, and then reselling at the national level oneBay. Because you have that bigger market in whichto sell, you can find people willing to pay more for your finds. I like doing this just as a fun weekend activitywith the family rather than a full-blown side hustle business. We’ll go out on a Sunday to flea marketsand some other places on our list, just looking around and spending time together.
I can usually find one or two things in acouple of hours to resell online. This next side hustle idea still an interestingone even as some of the ride share companies run into problems in some cities but you canmake over $20 an hour with apps like Uber and Lyft. What I like about working rideshare is thatit’s so easy to do in your spare time. The apps work so that you can turn on or offyour service any time and they’ll match you with fares. Rideshare site RideGuru looked at how muchdrivers made on a typical five-minute drive between the initial charge, metered fare andservice charges. It came out to between $19.89 on Uber to ashigh as $26 an hour on SitBaq and $36 an hour driving a traditional cab. Here you’ll really want to follow some ofour side hustle business rules I’ll go through later, like really treating it like a businessand getting the deductions on your taxes. One of the biggest complaints about ride-sharedriving is the wear and tear on your car but you can still make very good money if youplan around things like this. The next side hustle business is a twofer,blogging and YouTube. I do both of these and make the majority ofmy income from them. These are going to be great marketing forany of the other side hustle ideas but work well on their own as well. You can sign up for a Google Adsense accountand put ad boxes on your blog or this is all pretty much automatic on YouTube once youget 1,000 subscribers. I make about $0.01 per view through both,on the blogs and on the YouTube channel which doesn’t sound like much but can be a solidsource of income.
I get just under 70,000 visitors to the blogseach month and about 117,000 YouTube video views so that’s almost $1,900 a month notincluding all the free marketing I need for products or other business ideas. That traffic doesn’t happen overnight butyou can easily be reaching tens of thousands of visitors within a year. Beyond the money you make on advertising,you can start getting sponsorship deals to talk about a company’s products. I get $500 a video to mention someone’sproduct here on YouTube and I know others that charge in the thousands of dollars fora sponsorship deal. I’ve got a whole playlist on blogging hereon the YouTube channel so be sure to click subscribe and check that out. One income source I’m just starting to developis through online courses. This is really the next evolution in youronline income because you move from making money off other peoples’ products to makingmoney on your own. Of course, the payout on your own course ismuch higher.
I see other bloggers making between $350 to$1,500 every month on courses and if you don’t think you have anything to teach, think again. I mean look at some of these Udemy coursesfrom creators, Rubik’s cube simple and easy, what to text a girl you like…that one’sa best seller, amazing. Creating a course is easy through sites likeTeachable and Thinkrific and you can basically repurpose a lot of the material from yourblog. Believe me talking about anything for a yearand you’re going to become an expert and find out what people are looking for in thetopic. That’s going to give you your business idea,then you can research other courses to see what other creators are saying and what youcan add. For a typical 10-hour video course, expectto spend about 40 to 60 hours creating it but then making money every month for years.
Making just $500 a month on the course overthree years is eighteen grand and hundreds an hour on the time it took to create. This next side hustle idea is my favorite,self-publishing. This is basically the same as the online coursewe just talked about but a lot faster and easier. In fact, if you create an online course, youcan take the transcript and use it as a book to do double-duty on your income. The same ideas apply here except you don’tneed video skills. I published 10 books in just over two yearsthrough January 2017 and make just under $2,000 a month.
I spend $200 a month marketing the books onAmazon but that’s absolutely it. The best part about self-publishing is thatit’s almost completely passive income after you’ve launched the book. It’s super easy developing your book idea. Start with a transformation, something readerswant or need, and then work back through the steps they need to get there.
Each of those steps is a chapter in your bookand you can publish each as a blog post. This is not only going to help you stay onschedule to finish the book but each of the blog posts will become easy marketing sourceswhen the book is done, you just go back through and link your Amazon book page into the post. After you’re done, just format your bookfor publishing and get it on any of a dozen sites like Amazon, CreateSpace or Smashwords. You can easily do two or three books a yearin your spare time and that means upwords of $600 a month as a side income. Our tenth side hustle idea before we get tothose three success secrets is actually one I thought I was making up but there’s alreadya huge market for it. On sites like rent-a-friend.com you can actuallysign up to be a virtual or in-person friend to someone. It may sound weird but it’s really no differentthan some of the other coaching or tutoring ideas that have worked for years.
You’re basically just lending an ear andoffering advice to someone for an hourly fee. Like the online tutoring idea, you can goindependent on this one or join a site that will match you with people.hThe sites have some how-to content and rulesso it might be easiest to start there to get a feel for it before going freelance. Either way, you’ll make between $15 to $50an hour and get to set your own hours. Now that you have a solid list of side hustleideas to work with, I’ve got three keys to making any of them a success. Odds are you won’t want to try all of theincome sources or even that they’ll all work for you but these three strategies aregoing to help you make more money whichever you choose. First is that you have to treat it like abusiness. You can do any of these ideas with just afew hours a week but you still have to treat it like a business.That means learning how the business worksand the different roles you have to play in each. For example, you’re not just writing booksto publish. You need to be a marketer and a manager andan accountant too. These aren’t just side income ideas, they’rebusinesses that will create assets you can own and make money off for years. I’ve got separate videos and blog postsfor a lot of these to learn more about the details so I’ll leave links to those inthe video description below. Learning what works in each of these incomeideas, treating it like a business, will put you way ahead of all the amateurs out thereand will make you more money. Second here is to get all the tax benefitsyou can. This is a big part of owning your own businessand a lot of the return. Small businesses might not make a lot of moneymonth-to-month but taking advantage of some of these small business benefits will protectyour full-time income and really make a difference. First in this is to track your spending oneverything.
You can deduct from your income any spendingrelated to your side business and that means you can protect some of your regular incomefrom taxes as well. Even some of the money you spend on utilitiesand property taxes can reduce your income taxes. You also want to take advantage of a self-employedIRA plan. This is a special type of retirement investingaccount in which you can put your side hustle income and not have to pay income taxes onit until you retire. The contribution limit on this one is wayabove the limit you can contribute to other accounts like a 401K or regular IRA so itcan be a great resource to avoid a lot in taxes. The last key to side hustle success is justto stick with it and consistency. That might not sound like a secret but you’dbe surprised how many people start and stop their side hustles within a month or thatflip from one income stream to another without really developing any.
Your monthly income isn’t going to explodehigher immediately from any of these sources but give it six months and you’ll producean income stream that cash flows every month. Combine three or four of these with just fivehours each a week and you can easily be making three or four thousand a month within a year. That’s a full-time income on just part-timework. Few of these side hustle ideas will make yourich but put a few together and you’ll create your own businesses, your own assets thatwill make you money every single month. That monthly income may jump around a little,the day I made $600 was followed by a few days of making only a few hundred but it averagesout to an amazing income.
Pick and choose which income sources you like,take the time to learn a little in each and you’ll have a thriving side hustle businessin no time. Join us in the Let’s Talk Money communityby clicking on that subscribe button. We’re here Mondays and Wednesdays with thebest videos on beating debt, making more money and making your money work for you. If you’ve got a question about money, justscroll down and ask it in the comments and we’ll answer it in a video.
Wish you good luck
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