At times, taking on a second job or seeking opportunities to earn money outside your full-time job can make sense. However, some side hustles (also known as side gigs) can waste your time or lead you down a path that traps you in even more difficult financial situations.
Timing and Purpose
Take advantage of a side hustle or two for very specific, short-term purposes. Such goals might include:
- Taking a vacation
- Buying birthday or Christmas gifts
- Replacing a vehicle
- Fixing up your yard
- Doing some home improvement
Unfortunately, many households take on side hustles in order to plug holes in their budgets, most often created by overspending or impulsive consumerism. Without controlling the household spending, taking on a side gig will almost inevitably lead to even greater overspending. The old maxim holds true:
The more your earn, the more you spend.
Be very clear with yourself about the reasons you are taking on a side hustle and the expected timeframe for doing it. Otherwise, you may find yourself feeling stuck in a life that overworks your physical energy, places too many demands on your diminishing time, and offers less and less satisfaction in social relationships and personal passions.
Side Hustle Possibilities*
You can find scores of “Top Side Hustle” lists online, but most such side hustles take months or even years to begin producing income. The following list includes side hustles with the proven potential to produce significant income (e.g. above minimum wage) within weeks:
- Do freelance photography (e.g. weddings, graduation portraits)
- Do freelance writing (e.g. Fiverr, Upwork)
- Design and sell t-shirts or accessories (e.g. Teespring, Bonfire)
- Donate plasma** (e.g. BioLife, BioMat, Grifols, KedPlasma, etc.) NOTE: Never use this hustle to finance ongoing bills, loans, or other obligations, since a cold or other illness may disqualify you for several weeks.
- Food delivery (e.g. Doordash, UberEats, GrubHub)
- Offer virtual assistant services (e.g. Upwork)
- Provide handyman/handywoman services (e.g. HomeAdvisor, Thumbtack)
- Rent out an asset (e.g. Airbnb, Turo)
- Ridesharing (e.g. Uber, Lyft)
- Walk neighborhood dogs (e.g. Wag, Rover)
Approach with Caution
Some of the side gig ideas you will find listed online can actually waste your time or, worse, require you to purchase equipment or products, actually leaving you worse off than before.
- Get Paid to Shop or Play
- MLMs or Multi-level Marketing (also known as network marketing, referral marketing, and home-based demo sales, etc.)
- Online Surveys
- Yard Sales and Online Sales
*Examples serve educational purposes only. They do not constitute recommendations or reviewed suggestions.
**If you become sick or otherwise unable to “donate,” you will not be able to earn extra income with this option.
See Side Hustles Infographic in the Materials tab above.
