Some people seem to magically acquire wealth, while others are still living paycheck to paycheck. One of the most common ways to create extra revenue streams is through side hustles.
Side hustles are great because they allow you to leverage your existing skills (or develop new ones) in order to generate some additional monthly income.
Generally, side hustles are considered as extra income in addition to what you receive from your main job, however, it is not uncommon for successful side hustles to turn into a full-time income after some initial success.
In this post, we look at five of the top side hustles for 2023 and explain why each one is worth trying out for yourself!
Uber/Lyft Driver
Getting started as an Uber or Lyft driver is easy. You can sign up on their websites and download the app, which will walk you through how to use your vehicle for rideshare driving.
Of course, there are some things that you must comply with, for example, you must be old enough to drive in your city, have a vehicle that’s eligible and submit all required documents, including a valid driver’s license and insurance.
Once you’re all set up on the Uber or Lyft app, simply enter in your information—like where you want to drive and when—and wait for a request from a client to come through. When it does, if you are free at that time, accept and begin your trip! You will be paid a rate per mile/minute by each company as well as a base fare/tip from clients (the amount varies depending on location). This can add up quickly, and many Uber drivers are making $15-25 per hour.
Being an Uber or Lyft driver can be a really great way to make some extra income. The main benefits are that it is flexible and allows you to work whenever you want and wherever you want.
There are some downsides though. You never know who you are going to pick up, and it is not uncommon to come across rude or aggressive passengers. This is why it is important for drivers to have a thick skin and not take comments to heart.
Driving a car also has some costs associated with it such as maintenance or petrol, and with today’s gas prices at record highs, it is something you certainly need to pay attention to.
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Online English Tutor
Working as an online English tutor is a great side hustle because you can work from home and set your own schedule. People are often put off from being an online English teacher because they think you need experience or a degree in English, but the truth is the opposite when you are teaching English as a foreign language.
But before anything else, you should gear up for an online English tutor career by investing in a quality laptop to use for your lessons. You’ll want to ensure it has enough RAM, storage space, and processing power – all of which are necessary to deliver fast and reliable performance. Laptops with a touchscreen can also offer more flexibility than traditional laptops.
It is true that an ESL (English as a second language) qualification will help you earn more, but it is not necessary to get started. In fact, there are many English learners who just want to practice their conversation skills, and actually prefer to speak to someone who isn’t a qualified teacher as the experience is much more authentic.
There are websites such as iTalki where you can sign up as an English Tutor (no qualifications required) where they will actively find students that match your profile. If you are an English tutor you can expect to earn between $10 and $15 per hour.
Not sure what to talk about with your students? No problem! There are tonnes of resources online for conversation practice like ESL Conversation Topics that provide you with conversation questions and ideas for in a range of different topics and for different levels.
Copywriting
Copywriters write content for websites, ads, and other marketing materials that advertise products or services. They are responsible for creating compelling copy that convinces customers to buy something they don’t necessarily need or want.
Copywriters can make great money writing this kind of content because it’s something that many companies really need help with! For example, the average annual salary for a freelance copywriter is around $45k per year. Depending on your experience and skills you can earn between $10 and $50 per hour (around 500 words of content).
Copywriting is a skill and you will probably need to spend some time fine-tuning your skills, but the benefits of this side hustle is that it pays great money once you get good at it, and it is super flexible. You literally work whenever you want as long as you have a computer and internet connection.
You can start advertising your services on websites like Fiverr. You may have to start at a low rate and gradually increase your rate as your reviews and reputation increase. Overall copywriting is a great long-term side hustle.
Online Surveys
Firstly, make sure you find a legitimate survey site that pays for your opinion.
Check the “qualifications” or “requirements” section of the website, and make sure you meet them (e.g., your age, gender and location).
If you don’t qualify for a survey, find out which other sites they recommend or if there’s another one similar to it on their list of related sites to take surveys with instead! You might be surprised how many options there are out there!
You won’t make much money with this side hustle but it is by far the easiest one to get started with. So if you want to trade your time for money without any effort or skill required this one could be for you.
Airbnb
Airbnb is a great way to make extra money. If you have a spare room in your house you are missing out on a great additional income.
Some people using Airbnb as a side hustle by renting out spare rooms actually cover the cost of their rent or mortgage!
Airbnb is definitely one of the most profitable side hustles and should be the first one to consider as long as you don’t mind having guests in your home.
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Conclusion
There has never been a better time to make some extra money from a side hustle. It may be hard at first, but with some persistence and work, you will be able to make it work. You just need to find a side hustle that works for you!
