Due to the current economic downturn, several Americans are looking for alternative sources of income. Budget constraints and fears of impending recessions have made side hustles quite a good way for any individual wishing to earn some extra dollars in 2024.
Think Uber, Etsy, Amazon, DoorDash, Depop and other e-commerce ventures. You can sell candles, from home or through farmers markets, start a retail business, become a bartender or a DJ, provide online personal trainer classes and so much more.
Best Side Hustles for 2024
As we inch closer to 2024, here are the most effective best side hustles from home that everyone should contemplate:
- Freelancing: Depending on what niche you are in, the average freelancer can charge anywhere from twenty dollars to one hundred and fifty dollars a skill. This is one of the legit side hustles that pay well.
- Online Tutoring: Capitalize on your knowledge of mathematics, science, or languages on Tutor.com or VIPKid. This Side hustle has a good market and can be done remotely.
- E-commerce: Create an Etsy or Shopify account and sell your crafts or dropship products off your virtual shop. Online side hustles at home like this are quite fun and have room for growth.
- Print on Demand: Use services like Printful or Redbubble to design your brand’s merchandise. This model does not need stock and is quite simple to execute.
- Virtual Assistant: Assist business owners with administrative duties such as managing calendar events and emails. This job does not need training and is quite popular nowadays.
- Social Media Management: Assist businesses in reaching more clients by managing their social platforms. This job is mainly for people who love social media.
- Content Creation: Create a blog or a YouTube account where you can share content related to your profession as well as your hobbies. Make money from advertisements, affiliations, or sponsorship’s.
These choices aim to satisfy different levels of preferences, and they do correspond with the increasing population working remotely and the rise of online business.
Business Insurance for Side Hustlers
The Need for Business Insurance
Every individual running a side hustle is essentially a business owner, making it crucial to understand the need for business insurance. Here’s why it matters:
- Protection Against Liability: Business insurance can protect you from possible lawsuits or claim that may arise as a result of your side hustle activities so your business can run stress-free.
- Affordability: Many side hustlers think that getting insurance is too costly, yes but general liability insurance is on the average 33 $ which is reasonable for the majority of people.
- Informed Decision-Making: Regardless of the benefits, 92% of the workers have never even looked at whether they need insurance or not. Teaching workers doing side hustles about the available options may make them more willing to look for insurance that will safeguard their earning activities.
Methodology
In May 2022, we surveyed 1,006 full-time and part-time Americans workers about their side hustles and income. Respondents were 49% female, 49% male, and 2% transgender/non-binary. The age range was 18 to 84, with an average age of 37 years old..
Side Hustle Nation
When we took a closer look at working Americans with a side hustle, we found that on average, Americans are banking $777 a month from that hustle. Even if they aren’t working one of the side hustles that pay weekly, the additional monthly income can be helpful.
More than a quarter just have one side hustle, 43% are working two, and about 3 in 10 have 3 or more side hustles.
Other common side hustles include selling items online, selling used clothing, selling handmade items, freelance writing, and driving for a rideshare app.
The main reason Americans are taking on extra work is to help cover bills, to have extra cash, to help pay off debt, just for fun, and to save for a vacation.
Nearly all Americans working a side job enjoy it, and 96% believe having the side hustle is worth it.
Money Making Side Jobs
When looking for profitable side hustles to make money, it is important to look for those which have already been proven to make money by their users:
- Freelancing: Depending on what niche you are in, the average freelancer can charge anywhere from twenty dollars to one hundred and fifty dollars a skill.
- E-commerce: Some big sellers in e-commerce can generate huge amounts of revenue, some sellers can make thousands in a month through selling on amazon or etsy.
- Online Courses: Coming up with an online course or a series of online courses can be very profitable if you have expertise in an area that is trending.
- Real Estate Investing: Rental real estate may provide a good passive income for those ready to spend a sizable amount of money at the beginning.
Side Hustle Schedules
When it comes to fitting side gigs from home in your schedule, there’s a decent variety of when Americans are working in these gigs. There’s one element that makes side hustles appealing: flexibility. That may be why 2 in 5 Americans have been working their current side hustles for three or more years.
On average, Americans are working their side hustles 15 hours a week, and it’s a pretty even split between mornings, afternoons, and nights. Many Americans are working their side jobs all days of the week, but primarily they’re working Monday through Friday.
Money Making Side Jobs
When looking for money making side jobs with good potential to earn, it is important to look for those which have already been proven to make money by their users:
- Freelancing: Depending on what niche you are in, the average freelancer can charge anywhere from twenty dollars to one hundred and fifty dollars a skill.
- E-commerce: Some big sellers in e-commerce can generate huge amounts of revenue, some sellers can make thousands in a month through selling on amazon or etsy.
- Online Courses: Coming up with an online course or a series of online courses can be very profitable if you have expertise in an area that is trending.
- Real Estate Investing: Rental real estate may provide a good passive income for those ready to spend a sizable amount of money at the beginning.
Easy Side Hustles from Home
If you’re searching for the best side jobs that make extra money, these options are worth considering
- Online Surveys: Survey Junkie and Swagbucks are websites where users can get paid for sharing their opinion.
- Selling Unused Items: eBay and Craigslist and Facebook Marketplace are platforms that help you to get rid of useless items and earn cash.
- Pet Walking or Sitting: Rover is one service that connects people who want to sit or walk their pets with owners looking for such services.
Ways to Make Money on the Side
How to earn more money on the side is a common question asked nowadays. Here are some ways to make money on the side:
- Delivery: You can download applications such as DoorDash and Uber Eats to deliver food in your free hours. These are quick side hustles that actually work.
- Airbnb Account: If you have an extra room, use your Airbnb account to list it for renting.
- Affiliate marketing: f you have a blog or social media, you can promote products relevant to your audience and earn a commission when people buy through your link. This is one of the best online side hustles to make extra cash remotely.
Full-time Jobs and Side Hustles
At the end of the day, which do Americans prefer? More than half do not enjoy their side hustle more than their full-time job, but if given the chance, 55% would quit their full-time job if they made enough money solely working their side hustle.
Full-time jobs still reign supreme when it comes to effort, with only 12% admitting to putting in more effort in their side hustle over their full-time job.
Methodology
In July 2023, we surveyed 1,104 Americans who are employed full-time to see if they worked a side hustle. The rest of the survey consisted of data from the 1,030 Americans who work side hustles. Respondents were 50% female and 50% male, with an age range of 18 to 76 and an average age of 39 years old.
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