Everyone can benefit from making more money.
Whether you’re paying off student loans, building your emergency savings fund, or saving for a down payment on a house, increasing your income can help you reach your goal faster.
More people are becoming savvy to this fact every year. In a recent DollarSprout survey, 57% of respondents stated that they have a side hustle.
About 73% of respondents reported earning $200 or less with their side hustle per month. However, almost one in six people earn at least $500 each month in addition to their primary source of income.
Imagine what an extra $500 per month could do for you. You could reach your goals months or even years sooner. But with so many side hustle options out there, how do you know where to begin?
This list includes some of the best side hustles out there today. Each one is broken down into the level of difficulty, income potential, a description of how the side hustle works, the requirements, and how to get started.
Be sure to choose a side hustle that fits your goals and lifestyle. For example, if your goal is to make an extra $500 each month, then you shouldn’t choose something like taking surveys online. But if you just want to earn a free gift card here and there with little time and effort, then taking surveys may be a good option.
Most Profitable Side Hustles
These side hustles have low overhead costs and the most money-making potential.
1. Blogging
A blog is an online journal or website that includes your thoughts or expertise on a particular subject such as food, fashion, or travel.
To make money from a blog, you update it regularly with interesting and useful content so people will visit your blog, allowing you to build your traffic and grow your readership. Once you’ve built a steady stream of traffic, you can monetize it via affiliate marketing, advertising, or selling products such as eBooks and online courses.
How to Get Started
See It in Action
In 2016, Kelan and Brittany Kline started a personal finance blog called The Savvy Couple. Their site focuses on how to save, make, and manage money. Within three years, they took it from $0 to over $20,000 per month.
Their blog allowed them to pay off their remaining $25,000 in student loan debt in five months, quit their full-time jobs, and grow their net worth to over $100,000 by age 28.
2. Run Facebook Ads for Small Businesses
Facebook has a highly targeted advertising platform. Businesses can use it to get their ads in front of an audience that meets certain age, interest, or behavior criteria. By learning how to utilize the Facebook ad system and creating persuasive promotions, you can set up and manage profitable campaigns to help business owners capture leads and grow their business.
How to Get Started
See It in Action
Stacy Caprio, the founder of Accelerated Growth Marketing, started a side hustle running Facebook ads for businesses.
She gained experience through her multiple 9-to-5 jobs that centered around paid ads including Google Ads, Facebook Ads, and Pinterest Ads. Stacy started her own Facebook ad business and now charges $500 per month per client.
3. Freelance Writing
In a freelance writing side hustle, print or online publications pay you to produce quality content for their websites. This content may be in the form of blog posts, landing pages, white papers, or case studies.
As a freelance writer, you may be paid per word or per article. This is a lower-cost alternative to the company than hiring full-time staff writers. Businesses may also hire you on a freelance basis to provide copywriting services for their ads, brochures, email campaigns, and other marketing collateral.
See It in Action
Ben Luthi enrolled in Holly Johnson’s Earn More Writing Course in April 2017 after leaving his full-time writing job that prevented him from freelancing on the side for a more flexible position.
In July 2018, after gaining several clients and working 70-hour weeks, Ben quit his job and started freelance writing full time. He now earns about $25,000 per month and enjoys the freedom of having control over his time and income.