Increasing income is one of the most common concerns for people around the world. Be it due to outstanding debt, wanting to pay for your next vacation, having more money to invest, or just wanting to have more savings in the future, chances are you have worried about it at some point in your life.
What comes to most people’s minds when they think about improving their financial situation is to find a better job, get a new part/full-time job, reduce expenses, or sell some of their possessions. While all of these ideas are valid and might work for some, technology has made it easier than ever to make money on the side without having to compromise.
The recently coined “gig economy” is not only a way for people to generate income on a full-time basis but also to find easy side hustles that can allow them to gain financial freedom by accelerating their plans, whatever they are.
While easy side hustles can be also found as a side job, in this article we will be telling you about easy side hustles that don’t require you to stick to a schedule, require a minimum number of hours, or hit you with any compromises that might make it a pain for you in the long run.
Why You Should Consider Easy Side Hustles
There are many reasons why you could want to have a side hustle but let’s not kid ourselves, the main reason will be to get extra money. There are many ways in which this extra money could improve your life but when it comes to your personal finances, is easy for people to think that it is only about being able to spend more.
Having an easy side hustle is also a way to empower yourself, think about the future, achieve financial freedom in the long term, and capitalize on what you love to do. Let’s talk about some of the benefits of having a side hustle:
Achieving Financial Goals is Easier
Whether you are looking to pay your credit card debt or save enough money for your dream vacation once all the COVID19-related restrictions are lifted, having another source of income is a great way to achieve your financial goals without having to compromise on the short term.
If your goals are bigger than just a vacation, let’s say pay your student loans or buy a new house, it could take decades for most people to achieve such a goal with what they are currently making.
Speaking of student loans, one of the favorite and easiest side hustles for students has historically been to be a sitter due to the good pay, flexible scheduling, steadiness of the work, and great networking it offers.
Websites like SitterCity are a great way for you to post a job ad and get contacted by parents looking for a sitter to start making more money. A great benefit of this website is that it is not only for babysitters and nannies but also for care companions, pet care providers, and housekeepers.
By investing some extra hours a week to generate more income, it doesn’t matter what your financial goals are, you are certain to reach them faster. Decreasing the time needed to reach it will also reduce the stress and improve the satisfaction you get from achieving them, so it’s a win in every way.
Making Better Use of Your Time
“Time is golden” is a proverb that most of us were taught when we were kids and might use every now and then. However, it is easy to forget the truth behind this phrase at times, making us forget the importance of investing time wisely now that we can.
While you won’t be getting any gold from using your time in any of the easy side hustles we will mention, you might be able to invest that money to acquire some with your extra income or to invest it in any other commodity.
Multiple studies have found out that the time the average person spends working has not increased during the last decades but has, in fact, decreased. This is especially true as more companies and workers transition to remote-working as a result of the Covid19 pandemic and technological advancements.
While it is important to spend time with friends, family, pets, and doing what you love, it is also true that many of us are also spending it doing activities that are not that useful in the long term. Do you really need to binge-watch that show, scroll through social media for hours, watching videos on YouTube and TikTok, watching TV, dealing with more chores due to poor planning, etc?
By using your free time to generate extra income, your wallet and bank account won’t only be better but you will also improve your time organization skills and learn how to better value your time of leisure.
Being Ready For The Economy of The Future
The gig economy is on the rise as more people transition to working as freelancers, with the most predominant generation being millennials. According to a study by UpWork, about 40% of millennials were working as freelancers in 2019, with the freelance economy contributing about $1 trillion to the United States economy.
The same study also showed that there were 57 million freelancers in the United States alone, a number that increased by 5 million in the five years previous to the study. With companies and employees having an increasingly positive view of remote working and freelancing models, it is expected that this trend will continue in the future.
With this in mind, understanding how the gig economy works and how to take advantage of it during its early stages will be an essential skill in the future as transitioning from a traditional work model might not be easy for everyone.
Having an easy side hustle is not only a way to generate more income now but also to ensure you can participate in the economy of the future.
More Money Means More Investment Opportunities
If you are a frequent reader of our site, you know that we all are about how to improve your personal finances by making and saving money. If you are not a frequent reader… what are you doing, go and read our other tips!
Making and saving money doesn’t only mean cutting costs or gaining more money to save it under your mattress. By investing some of your savings, you will also find that it is easy to generate extra income.
While it is usually advised to save about 20% of your monthly income, this is not always easy for people to do, especially for the newer generations. If you aren’t able to save or invest money, generating extra income is a great way to find resources to start investing to generate passive income.
Remember that is not about only having more money today but ensuring you continue to have it in the future. Investing is a great way to ensure your financial independence in the future but it requires you to invest today to maximize your profit.
On some occasions, it is even possible to make money after investing! It has not become unusual for people to buy a new car, motorcycle, or bike they need for the daily activities and then decide on using it to generate income to pay for it.
A good example of this would be using platforms like DoorDash, which allow people to work as a delivery driver to make reliable money from anywhere and at any time, providing a lot of flexibility on how you allocate your time, which are the most important aspects to keep in mind when looking for an easy side hustle.
Doing What You Love Could Become a Full-Time Job
Getting an easy side hustle is not only about finding something you can easily do and allows you to manage your time, it is also about doing something you can enjoy. The gig economy has proven to be a blessing for people who don’t want to spend their time in an office doing something they despise.
The technology revolution has made it easier than ever for people like you to find customers looking for services that match your skillsets and interests. It doesn’t matter if you are interested in writing, making digital art, programming, sound design, cooking, music, or any other hobby, there surely is a way for you to capitalize on it.
Many people who have started converting their hobbies into an income-generating hustle have found themselves quickly transitioning to doing it full time, gaining a lot of advantages in multiple areas of their lives.
The phrase “Do what you love, and you’ll never work another day in your life” is probably one that you have heard multiple times and while it may sound like a cliche, it truly is easier now than ever. While this doesn’t mean opportunities will arrive without working for them, you will find that it might be easier than you think.
Platforms like Fiverr allow you to offer potential clients your services in a variety of categories ranging from Website design to Video Game Coaching.
It is as easy as creating an account, setting up the gigs you want to offer, get hired, deliver, and get paid. All while being able to manage your time, deciding which gigs you accept, and deciding how valuable your work is.
While Fiverr is one of the most popular and trusted platforms, there are other ways in which you can generate revenue from your passions and hobbies, such as creating a blog and generating ad revenue, creating tutorials for platforms like skillshare, doing affiliate marketing for a niche you have knowledge of, and many more.