This article was co-created with freelance writer and finance geek Lexi Carr.
Top Side Hustles To Help Lower Your Debt
No matter what station you’re at in life, sometimes what you’re doing just isn’t enough. This can be especially true if you have major debt coming from credit cards or student loans. That’s where the side hustle comes in. Side hustles are profitable ventures that can be done in addition to a full-time job.
However, many of the success stories you hear don’t talk about how side hustles can be a grind. These gigs can take just as much time, money, and dedication as a full-time job, and may provide a fluctuating profit month over month.
If you’re looking for the top side hustles to lower your debt and put more money into your wallet, check out this list. Before you know it, you may be swimming in more cash than ever before – or end up with just enough to keep your head above water.
Blogging and Affiliate Programs
Blogging is a great entryway into side hustles. Using written or video content, bloggers can make money by advertising to their audience. Bloggers aren’t restrained on what they can blog about, meaning it’s a good side job for anyone who already has expertise in a subject or would like to develop an interest further.
While you probably won’t strike it rich just from blogging, you could earn anywhere from a $10 a week to hundreds a year, depending on the time, effort, and attention you put into creating content. And anyone can become a blogger – all it takes is a little self-motivation!
Honestly, the best way to get started blogging is to use Bluehost to host your blog and use WordPress.Org to publish it. Choose a free theme and start publishing at minimal startup costs.
If you consider yourself a hobbyist, scavenger, or shopper, you should look into setting up an Etsy, eBay, or Amazon store. Selling used items is a quick way to make money while also cleaning out your closet. Depending on what you have, your digital garage sale can end up netting you a few hundred dollars over time.
If you’re considering selling on Amazon, you’ll have to decide whether to sell the item on your own through the Amazon marketplace or through the Fulfillment by Amazon program, also known as FBA.
Sellers handling the transaction through the marketplace are responsible for shipping the items from their home and covering the shipping fees. Amazon FBA allows sellers to list the item and ship it to a nearby Amazon warehouse. Amazon takes over from there, shipping the item once it is sold and taking a higher fee.
If you want to make your own products, then Etsy is a great platform. You can sell both physical and digital products. Since launching my Etsy store less than a year ago selling digital downloads, I have made over $4,000 profit. Here is more information about how I have created passive income selling digital downloads.
Driving for Rideshare Companies
Rideshare services like Uber and Lyft might be the first that come to mind when it comes to side hustles. The process for becoming a rideshare driver is fairly easy, so even retirees who have extra time during the day can sign up. The amount you will take home at the end of the day depends on where you live, but don’t be too surprised if you end the week with a couple hundred dollars.
Rideshare companies also offer a unique passive income opportunity. If you have an extra car not being used you could rent it out to other drivers. This allows car owners to reap the benefits of driving for a rideshare company without having to sit behind the wheel themselves.
Delivery and Courier Gigs
Courier delivery is a natural extension of the rideshare side hustle. There are many delivery services you can work for, including Instacart, GrubHub, Postmates, and Doordash. Drivers may find themselves picking up groceries, lunch, or even important documents.
Courier work is great for college students, retirees, and stay-at-home parents who have flexible time. If the factors are stacked in your favor, delivery people can easily make a few hundred dollars a month. And depending on where you live, you may only need a bike.
Performing odd jobs as a side hustle through apps like TaskRabbit, Nextdoor, or Wonolo is a great way to earn some money on a day off. You could find yourself:
- Doing yard work
- Cleaning homes
- Cooking, baking, or catering
- Helping others move
- Washing cars
The variety of tasks means you can usually find something that fits your abilities. If you’re more interested in consistent work, however, performing odd jobs isn’t for you. Keep in mind that not all tasks pay similarly, and the average Tasker makes anywhere from $46 to $119 per task.
Pet sitting and dog walking are popular side hustles for people living in cities, especially high-school and college students. And with the rise in popular pet apps like Wag and Rover, starting your own pet business is easier than ever.
Almost anyone can be a pet caretaker. Many care providers even offer pet boarding from the comfort of their own homes. In 2016, Rover users reported making an average of $1,000 a month working part time. Between the pay and the joy of playing with dogs, it’s easy to see why pet care is one of the more popular side hustles.
Renting Out Rooms
If you have an extra room or guest house, renting out rooms on Airbnb is an easy way to earn relatively passive income. Many rental companies run background checks on all users and even provide insurance to hosts.
If you’re interested in seeing how much you could earn, Airbnb has a calculator for estimating your potential earnings. It’s a great option for people who live in tourist-heavy cities like:
- New York
- San Francisco
A final word of advice: Make sure you go into your side hustle with realistic expectations. Your first side hustle won’t make you rich beyond your wildest dreams, and it also probably won’t be your last.
Always remember that side hustles are side jobs. If it’s not working out, you have a million other options to choose from. Also keep in mind that you should tap into existing platforms so you can do what you do best and not limit yourself to what you can do.
Go make that money.