Maybe you already work 40 hours a week at your job and feel like you make plenty of money to support yourself and your family, but are you maximizing your potential earnings?
In 2020, millions of Americans are finding exciting ways to make money on the side beyond their regular routine.
Many people are able to actually double their monthly earnings thanks to a side hustle. If you worked hard enough at it, it could even become your next full-time job!
But sometimes, juggling the side hustle as well as your regular job can be a lot of work! There are many ways to make money on the side, so if the first one you choose doesn't work for you, don't get discouraged. You can always try something else.
Finding Side Businesses to Make Money
Make sure that no matter what happens, you always maintain your most consistent source of income to the best of your abilities. That means let your full-time job occupy your mind while you're there, and work it like it's the only job you have until you leave.
Also, never let your side hustle weigh you down financially. The point of a second source of income is that it should be a boon to your cash flow, not another money sink. Even if investing a bit in the side hustle has the potential to create more profit down the road, carefully consider your choices before ever committing, or else you could find yourself in a serious bind. In fact, the only time you should ever spend money on your side hustle is for immediate return on investment (or ROI for those in the know). If you aren't going to make better money instantly as a result of your expenditure, it's not worth it -- yet.
Ideas for a Solid Side Hustle
Don't have a way of making money on the side yet? You want to make sure before you tackle a new pursuit that it has income potential, so we have gathered ideas for side businesses that make money.
Some of these require training, but many are accessible to anyone. If you're tired of your main job being your only source of income, here are some gigs on the side you could try:
- Take pictures at weddings and other special events.
- Offer music lessons if you've mastered one or more instruments.
- Offer small business accounting services if you have a background in finance or accounting.
- Make jewelry and sell it online.
- If you are a great athlete, provide sports lessons for high school students, such as pitching in baseball or playing soccer.
- Referee or umpire games for local sports leagues.
- Draw illustrations for picture books if you are a good artist.
- Design websites for small businesses if you excel at graphic design.
- Instruct aerobics or other group fitness classes.
- Teach yoga classes.
- Walk dogs or provide pet sitting services.
- Tutor high school or college students who need extra assistance.
- Post ads on your social media profiles offering a babysitting service.
- Offer makeup and hairstyling if you're particularly skilled at either.
- Cook good food and sell it online.
- Offer repairs for homes, automobiles, computers -- if you're a capable craftsman or technician, there's always someone who needs something fixed.
- If you're a supremely capable writer, try to find local businesses that are in need of talented writers and take on freelancing work.
- You can also find local businesses that need assistance with social media, such as posting things to Instagram or Facebook.
- Play Santa Claus or the Easter Bunny at the local mall during the holiday season.
- Open an online store selling your homemade crafts or drawings.
- Drive for a ride-sharing service like Uber or Lyft if you live in an area that needs drivers.
If you think you could take on any one of these extra challenges, give them a shot. You never know if it might transform your finances -- and your life -- for the better.
How to Be Successful at Your Side Hustle
Here are some tips for launching a successful side hustle:
- Treat it like your primary job: Always be on time, follow through on your promises, and keep all your commitments.
- Keep your primary job and your side hustle separate: Don't do your books for your side hustle while working at your primary job. Don't take calls for your primary job while doing your side hustle. Keep the two of them apart so you can remain professional in both arenas.
- Advertise your services by reaching out to friends: Ask them to help you spread the word by posting about your services on social media. Free advertising and word of mouth are the best ways to make new connections.
When you do all these things, you will succeed in your side hustle and make more money.
Reaching Financial Independence With Side Hustles
Some people get so good at their side hustle, they can turn it into their main hustle. You can quit your full-time job and focus on the side gig. How do you know when the time is right? Look for these signs:
- You are making more from your side hustle than your regular job, or you would be if you put 40 hours per week into the side hustle.
- You have paid down your debts with the money you make from your side hustle, putting you in a better financial position if your side hustle becomes your main hustle.
- You have enough savings to cover several months of bills.
We advise our customers to continue saving even under the harshest conditions. The smallest amount you put away today can assist you tomorrow.
And remember, if you still aren't making enough to get by or if you really want to purchase a big item or improvement to your property or life that's just out of reach, there's an answer: a personal loan from a trustworthy lender like Atlas Credit. By applying online for a quick and easy personal loan of up to $1,400, you can change your life your own way.
You can find Atlas Credit locations across Texas and Oklahoma, in big and small cities. Find a location near you to speak with one of our friendly representatives about loan opportunities. Contact us today to learn more!