7 Lucrative Side Income Ideas You Can Start Today

7 Lucrative Side Income Ideas You Can Start Today

We live in a world where a side hustle is almost necessary for many people to make the ends meet. This is especially true for young people fresh out of college, forced to work two or even three jobs to be able to pay the rent at the end of the month. One positive thing is that we live in a day and age where opportunities for side hustles are abundant and almost everyone can find a little something that will bring in some much-needed cash.

1| Freelancing

Freelancing is one of the most popular side hustles in the world today. It encompasses almost all fields, from writing to graphic design and you can surely find a niche that will allow you to cash in on your talents. There are several sites dedicated to freelancing, or you can look for your first gig at Reddit and one of many subreddits that offer jobs for freelancers. Whichever route you choose, be prepared to do some low-paying gigs in the beginning. Once you have several projects under your belt, your rates will rise and you will be able to charge more for your work.

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2| Online Trading

Online trading isn’t for everyone, but if you have enough dedication to overcome a rather steep learning curve, you will be rewarded with a side hustle that can easily pay more than your day job. Many successful online brokers have started small, trading just with a few thousand dollars of their savings and managed to become highly respected members of the community. They didn’t reach that level overnight, though, and you shouldn’t expect to do it either. Arm yourself with patience and use every opportunity you have to learn something new and you may get there in a not so distant future.

3| Online Tutoring

Tutoring has always been a popular side hustle for students in need of some cash, but with the rise of the Internet, it is now possible to reach clients across the globe. This new market has drastically changed the landscape and now you can help kids from France study math or Chinese kids learn English, depending on your field. There will always be plenty of parents who value the education of their kids and are ready to shell out the cash to make sure they get the best tutoring available.

4| Renting

Airbnb has completely changed the way we think about vacation rentals. Now, all you need is an account on their site to offer your house, room, or even a couch to the world of globetrotters and be reasonably assured that someone will answer your ad. The process is very simple and straightforward, with a minimal amount of hustle. Once several guests have passed through your apartment and your ratings get steady, you will be able to charge more. Of course, the space you are renting must satisfy at least minimal requirements and your pricing should reflect the conditions and take into account what the competition is offering for similar prices. Still, it can make a solid source of income and you get to meet people from all over the world.

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5| Affiliate Marketing

Affiliate marketing has been all the rage in the last few years, with AM sites popping like mushrooms. This will only work if you already have an established site, with a sizeable following. Starting from scratch is pretty much no-go at this point, due to the saturation of the market. Too many AM sites are fighting over the same piece of the pie and slices they are receiving are getting smaller each year. Still, if you have some loyal followers on your social media, you can give it a try. At least that won’t cost you anything and even if it doesn’t work, you won’t stand to lose much.

6| Selling Crafts

If you are good at making things, you should consider opening your Etsy shop and selling your products. It doesn’t matter what it is that you make, as long as it is interesting and well-made, there will be at least some buyers for it. This is an excellent way of turning your hobby into something that can make a nice profit and still have fun doing it. That is the definition of a win-win situation.

7| Driving

Finally, you can join Uber or Lyft and drive people around in your car. While you won’t make a fortune, you can earn some serious cash doing this. There are many YouTube videos on how to start your Uber career, but it all boils down to several essentials, like keeping your car clean, choosing an efficient route and be polite towards your customers. That is a sure way towards a good rating and a steady income stream.

Hopefully, you will be able to find at least one side hustles among these that will suit you and help you earn some cash on the side.

Anna Stinson is a tech writer and researcher interested in startups, web development, and business innovation. She is passionate about motivation, self-development and yoga. A recent hiking enthusiast, she enjoys exploring new trails and breathtaking views.