A side hustle can be a great way to earn extra income to put toward savings, pay down debt or splurge on those little extras outside your budget. If you choose a gig you’re passionate about, you might even turn it into a career. Here are three side hustles that could earn you enough to leave your 9-to-5 job for good.
Freelance Writer
If you’re a good writer, then you possess a marketable skill many businesses will pay for. You don’t necessarily need a degree in English or any formal training as long as you have the skills. The best way to get started as a freelance writer is to put yourself out there — start building a portfolio to showcase your skills and let people in your networks know you’re available for projects.
It can take some time to get started, but freelance writing offers a lot of possibilities. According to the Bureau of Labor Statistics, the average annual wage for independent writers is $73,090. Try to develop a niche, like financial or technical writing, which can set your apart from others in the field and increase your earning potential to six figures.
Social Media Influencer
If you’re always on Instagram, love interacting with other people online and have a following for your content, you could leverage your online presence and earn an income as an influencer. Let brands and businesses pay you to promote their products. Pay varies depending on how many loyal followers you have. Nanoinfluencers have 1,000 to 5,000 followers and can earn as much as $30,000 to $60,000 a year, whereas micro-influencers generally have 10,000 to 50,000 followers and can earn $40,000 to $100,000 a year.
Small Business Owner
Do you love do-it-yourself projects, home renovations or making homemade products for friends? You might consider selling some of your work online. You could open your own Etsy shop or utilize Instagram to feature your products. It might take time and hard work to build up a profitable online shop, but it is possible to make six figures in sales. Make sure to research your state’s sales tax laws, if any, so you can charge and file accordingly.
Building a profitable side hustle takes time and commitment, but it can be worth the effort. The gig economy is full of opportunities to make big bucks. You might even be able to grow your business into a six-figure income.
~Here’s to Your Success!
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