Like any sort of job, side hustles come in all kinds of shapes and sizes, potential incomes, costs, and time investments. Some are quick, low-effort, and tend to generate less money. Others can be built into real money-makers, but require some up-front investment or additional time and effort. 

In this article we’ll cover:

• What a side hustle is
• Types of side hustles
• Side hustle ideas
• How a side hustle can help you grow your wealth
• Tax implications of side hustles

What is a side hustle?

A side hustle is work that provides supplementary income in addition to the money earned through one’s main job. Essentially, a side hustle is a second (or third, or fourth) job. Side hustles can include anything from gig work, like driving for Uber or Amazon Flex, to flipping houses or furniture, to freelancing using your professional skills. 

Many people with side hustles use the internet, apps, or their professional networks to find opportunities; some go so far as to build small businesses around their side work. The amount of work and potential income earned through your side hustle will depend on what type of work you pursue and how much time you can devote to it.

What is a “legitimate” side hustle? 

A legitimate side hustle is one where you provide the product or service required and can trust that you’ll get paid what you expect. There are many scammers on the internet, though, and it isn’t surprising that they sometimes target those looking for side hustles. Keep an eye out and stay safe while looking for side hustles to protect your time, income, and personal information. If an opportunity seems too good to be true, it likely is. Here are a few tips for checking the legitimacy of a money-making opportunity:

• Screen potential freelance or contract work clients to ensure they’re legitimate businesses. Get a contract in place if possible. 
• Look at reviews and web forums for any apps or websites you’re using to find work. 
• Never pay a fee to apply to work for an individual or company.
• Beware of opportunities that require you to purchase products upfront to resell to others or require you to invest money in training materials. Multi-level marketing schemes (MLMs) often require this, and many people lose money or go into debt with these types of endeavors. 
• Guard your personal information. Review a company’s website, check the Better Business Bureau, and talk to someone directly before providing anyone with your personal information.

Types of side hustles

Side hustles aren’t one-size-fits-all. You can choose from different types that require varying levels of time and effort, upfront costs, and skill requirements. 

Here are five broad categories to consider:

• Freelance or contract work: This work requires an existing level of skill, and many people use the professional skills they rely on for their primary job to pick up freelance work in the same industry. 
• Gig economy jobs: Gigs are temporary and part-time positions in which independent contractors fulfill some services provided by a company, such as making deliveries for a food-delivery service.
• Online side hustles: Online side hustles are generally not jobs so much as tasks. Online roles are generally quick, easy, and attainable, but relatively low-paying.
• Small businesses: Some hustlers turn their side work into small businesses, whether that’s selling a skill or a product. These roles are often more time- and cost-intensive, but consist of building a brand and potentially turning their small business into their main job.
• Passive income: Passive income can come in several different forms but generally consists of investing in something or renting something out, resulting in repeating income that requires little ongoing effort. There may be a fair amount of work up-front, but the goal is to earn a regular income once set up.

Side hustles ideas for 2024

Based on the types of sides hustles we covered, here 29 hustles to consider broken into the following categories:

• Freelance/contract side hustle ideas
• Gig economy side hustle ideas
• Online side hustle ideas
• Small business side hustle ideas
• Passive income side hustle ideas

Freelance/contract side hustle ideas

Generally, these side hustles are hourly or project-based and require some level of skill or expertise. Freelance and contract work can be found through numerous apps like Fiverr, Upwork, Steady App, and many more. You might also find these opportunities through your network, family, and friends, or by building a public or industry reputation. 

Freelance and contract work require an investment in your own expertise, and your income generally depends on the amount of time you put into the work and your experience level. When pursuing these side hustles, make sure the work you do doesn’t breach a non-compete agreement you might have with your main employer. Some examples of freelance work include: 

• Handywork/landscaping
• Writing
• Graphic design
• Bookkeeping
• Editing
• Website development
• Social media
• Tutoring
• Administrative work

Gig economy side hustle ideas

Gig work is a specific type of contract work based on flexible, temporary, or freelance jobs generally managed online or through an app. In the gig economy, everyone is an independent contractor, so people generally don’t have regular schedules or get benefits from employers. Instead, you get the flexibility to work when you want to. 

Pet sitting or dog walking

If you’re an animal lover, you can find opportunities to take care of pets for some extra cash. The amount of time and potential income is dependent on how much work you take on, where you live, and the reputation you build. 

House sitting 

If you like to travel, house sitting might be a good fit for you. Using websites dedicated to sourcing house sitters, you can find opportunities to make some money in exchange for staying at someone’s home, watering their plants, grabbing their mail, and other domestic tasks. House sitting comes with the side benefit of helping with your travel budget since your accommodations are free. You might also find opportunities where you live if you’re interested in this kind of work but don’t want to travel.

Ridesharing

Rideshare driving is a popular side hustle these days. You’ll need to have a relatively new car in good condition, as well as a good driving record. Some people enjoy the chance to travel around the city and meet new people, as well as the chance to earn more money through tips. 

Delivering food through apps

You’ll need reliable transportation to pick up gigs delivering food; most people rely on a car, but some deliver by bike. You’ll usually earn money for each delivery in the form of payment from the company and tips from customers.

Delivering packages

Amazon and other businesses hire flex drivers in hour blocks to deliver packages. If you have three to five hours free, you can sign up for a flex block, pick up packages, and deliver them in your area. 

Online side hustle ideas

Unlike most gig work, online side hustles can usually be done from home. These jobs often require a lower time investment, with a wide range of potential incomes. 

Participating in online surveys

Market research companies often pay participants to share their thoughts, opinions, and experiences. With these websites, you’ll take surveys in exchange for a small amount of money. The more surveys you take, the higher your income. Watch out for potential scams, such as websites that require payment to join their panel of participants; check reviews before signing up to be sure the website is reputable. 

Participating in user testing

You can also test apps, websites, or platforms. Testers are often asked to click through a mockup of a website or sort cards so web developers can learn more about user behavior. These can earn more income than surveys on a per-task basis, but generally require a higher time investment. 

Transcribing videos, calls, or recordings

Some sites hire transcribers to turn audio recordings into text. Those who can transcribe quickly can earn a fair amount of money this way, as you’re often paid per audio minute or per file.

Virtual assistant

Many businesses need some help but don’t need a full-time executive assistant. That’s where a virtual assistant comes in. Often managed completely online, a virtual assistant can perform executive assistant-type tasks contractually. 

Starting a podcast, social media, or YouTube channel

Are you an expert on something, or do you have something you’re passionate about? Viral social media content comes in many forms, and if you can build an audience and you’re good at it, you may be able to generate income from a podcast or social media. It can take time to build a large enough audience to monetize your endeavor, but the effort can also be fun and rewarding in its own right. 

Selling used clothes or items

Those who are good at thrifting or garage sales can often find items at a relatively low price and resell them for a higher price via online marketplaces. The amount of income you can earn varies widely, but you could do well if you’re knowledgeable about niche items that have a high value on the secondary market. It’s possible to get started without investing too much money upfront if you can find good deals on used items; you could even start by selling items you own but no longer want. 

Small business side hustle ideas

A small business is your opportunity to create a brand and sell something you’re good at, whether that’s a product or a service. These are often high-effort, higher-potential income opportunities. 

Selling crafts or art

Do you draw, paint, work with wood, or otherwise create a physical product? These products can be sold at fairs, markets, shows, and through online marketplaces to make some money. Work like this requires some up-front budgeting for materials, websites, booths, or other business investments, as well as the time required to create things to sell. But building a brand can turn your side hustle into your full-time hustle. 

Refurbishing furniture

Another small business opportunity is refurbishing and reselling furniture. With the right supplies, you can update or fix up old or damaged furniture found online, through garage sales, or even on the street for some extra income. This takes an investment in skills and supplies, as well as the time to dig up good finds you can restore. 

Creating and selling art

Art doesn’t have to be physical to sell. If you have skills with platforms like Photoshop, you can create original digital art you can sell online. Because it doesn’t require physical supplies, this can be less expensive than physical art. Many people take commissions to increase opportunities to make money.   

Coaching or teaching classes

If you have expertise in something, you can share your expertise by offering online classes, either through your own website or an online platform. This avenue can also provide repeatable income if you sell the same recorded course many times.

Passive income side hustle ideas

Passive income is different than active income. Broadly, this is income that you can generate without requiring daily participation. While passive income usually requires an initial investment, you may be able to earn dividends for years from that investment. Check out our full breakdown of passive income opportunities. 

Renting

Whether you’re renting a spare room in your home or you’ve invested in a rental property, you can generate regular and predictable extra income monthly. Investing in rental properties will often require a hefty investment, so spend time researching options and budgeting before making such a significant decision. 

Renting out your car

All this requires is having a car and not needing it while it’s being rented out. There are platforms dedicated to these types of rentals and a significant time investment isn’t usually involved. 

Affiliate marketing

Affiliate marketing requires an audience, but once you have one, you can promote content through blogs, videos, or social media and collect ongoing income from your audience’s purchases.

Investing in bonds

While this isn’t exactly a side hustle, it’s an opportunity for passive income that some people overlook. Investing in bonds is a relatively low-risk way to use the savings you have to get a guaranteed return, and there are long and short-term bonds available to fit your timeline. 

Opening a high-yield savings account or CD

While they also aren’t side hustles, both high-yield savings accounts and CDs are ways you can use your existing savings to make more money. Both of these accounts offer short-term opportunities to earn interest for storing your cash.

How side hustles can help your financial health

What you do with the money you make from your side hustle is dependent on your unique financial journey. It can help you balance your budget, put money aside toward retirement, or save up to buy something you really want. Relying on side hustles to pay your monthly bills can be risky because they often don’t guarantee consistent income, but a side hustle can help you: 

• Build an emergency fund
• Save more toward your goals
• Pay down debt
• Invest in the stock market
• Build your retirement account
• Treat yourself

Tax implications of side hustles

Remember, any income you make has implications for your taxes. Many first-time contractors and side hustlers find themselves shocked when they realize at the end of the year that they have to pay taxes on that income. Unlike money from your regular paycheck, taxes aren’t withheld from the money you make through a side hustle. You’ll have to pay state and federal income tax, and may also be responsible for self-employment taxes.  It’s important to research what your taxes are expected to look like and be prepared. You may be able to defer taxes on self-employment income with an IRA. 

How to choose the best side hustle for you

Here are some questions to consider when selecting the best side hustle for your unique situation.  

• What existing skills and experience do you have?
• How much time can you put into this work?
• How much income do you need to make from a side hustle? 
• What resources do you already have available?
• What opportunities would bring you the most joy?

Remember that side hustles don’t have to be huge commitments. You can try something to see if you like it before investing a lot of money or time.

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The post 29 Side Hustles To Consider in 2024 appeared first on Stash Learn.

To avoid getting swindled by a fake work-from-home gig, be on the lookout for these common scams.

Cashing checks, mystery shopping, and more

Stuffing envelopes. It may sound easy, because you don’t need to have skills, know-how, or special equipment to get started. You’ll be promised extra income quickly. The catch? You’ll usually owe a fee for supplies to get started. 

Starting your own business. Examples might include a coaching program that tells you to follow a proven or low-cost system that requires a fee, and personal information, to get started. Another common business hustle is for medical billing, a profession that takes some level of skill. Fraudsters might claim that no experience is necessary, and charge a fee to set you up with fake client lists and software, according to the FTC.

Mystery shopper and order fulfillment scam. The scammer provides details about becoming  a secret shopper, or doing order fulfillment from your home. Both involve  placing orders online using your own credit cards. Fraudsters will then steal the money, and your personal information. The scammer will promise to reimburse you, which isn’t likely to happen, Parker says. 

Fraudsters may also provide stolen credit card information for you to use. “When the credit card details are provided by the scammer, the person is participating in the fraud by making purchases using stolen credit cards,” says Parker.

Payment processing. A scammer might ask you to deposit checks, money orders, or wire transfers into your own bank account, and then send the funds on to someone you don’t know, says Parker. You might be offered a commission in exchange, but the money may be stolen, and the check may bounce, putting you on the hook for fees. 

Online surveys. You may be asked to complete hundreds of surveys with the promise of payment later on. However, it may be just a way for the scammer to steal personal information, or sell it to affiliate marketers, Parker says.

Tips for spotting WFH scams

While it’s not always easy to spot a scam, the American Association of Retired Persons (AARP) and the FTC offer several warning signs.

Tone of urgency. Some scams, particularly phishing attacks, might urge you to act quickly, and  may tap into common marketing techniques. For instance, a job opportunity may be advertised as a limited time offer, or may encourage you to act quickly, or else lose out on a deep discount.

Paying a fee. Before you can take advantage of a work-from-home opportunity, scammers may ask you to sign up for a membership, or pay for initial training, supplies, or products. 

Additionally, you may get an unsolicited email, text, or call offering you work. Be on the lookout for texts with spelling mistakes. The job opportunity may also skip the standard application and interview process. “Job seekers should be suspicious when the compensation doesn’t match the experience required for the job,” Parker says.

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Steps to Safeguard Yourself 

Here are some suggestions for determining whether people or companies offering you work are legitimate.

Check websites and social media. A lack of social media accounts, dormant social media accounts, or accounts that are only a few weeks or months old may be a cause for concern, Parker says. 

Look up physical addresses on a map. If your potential WFH employer has no physical location, it could be a red flag.

Check review sites. Sites such as Better Business Bureau, a nonprofit that helps consumers verify the trustworthiness of businesses, and Trustpilot, a consumer review site of businesses can help you understand who you’re dealing with. 

Practice security hygiene. Take simple steps, like making sure passwords are unique by using alphanumeric and upper and lower case letters for added strength, says Kelvin Coleman, executive director of the National Cyber Security Alliance (NCSA) in Washington, D.C. Additionally, make sure software is up to date, and consider going the extra mile by installing anti-virus software. 

Take a step back. If something seems fishy, then pause and do some further investigating, says Parker. “Job seekers should always do their own leg work to make sure that any company offering them a job is real,” he adds.

Contact authorities. If you think you’ve been phished or scammed, you can file a report on the FTC’s IdentityTheft.gov site. Once you submit a report, you’ll receive a recovery plan targeted to different scenarios related to stolen personal information. 

Each state also has its own state consumer protection office that may be able to assist you. 

Especially as the pandemic continues and many people are under financial pressure, “it’s important to stay vigilant when it comes to suspicious activity,” says Coleman. “The main piece of advice remote workers should follow is to think before you click and stay alert at all times.”

The post How to Avoid Work-From-Home Scams appeared first on Stash Learn.

And by corner office we mean a corner of your kitchen, your living room or your bedroom with a view of whatever is outside your window.

Less than four percent of the U.S. workforce worked from home, pre-pandemic, at least half of the time or more, according to research and consulting firm Global Workplace Analytics. They predict that the pandemic will lead to more people taking advantage of that opportunity after life returns to normal, up to 25 to 30 percent. 

Remote work allows employees the comfort and flexibility of working the way they feel most productive. More than 80 percent of U.S. office workers surveyed said they want to continue working from home part of the time when the pandemic is over. 

The best place to get work done is a home office that is dedicated to your work. We spoke to two writers and business owners who have been working from home for more than a decade to get their best tips for a successful home office, along with how much you can expect to spend.

Find a location that works best for you

Take a look around your home and imagine your potential set up. Do you have a spare room you could transform into a home office? A corner of your dining room? A large walk-in closet? 

Pick the space that is the most comfortable to you and that you can envision being the most productive.

“I have a really cool spot in the corner of my kitchen where there’s two huge windows and I have a desk that is pushed up in front of that corner,” said Jennifer Dienst, a Charleston-based writer and the owner of a travel advising business. She has worked from home for 10 years.

“It’s one of the reasons why I bought the house,” she said. “Having a space to work where I have this beautiful view and all this natural light is really important.” 

Sarah Ratliff, a Puerto Rico-based freelance writer and the owner of a content marketing agency, settled on a corner of her bedroom, taking advantage of a dividing wall.

“We just rearranged things and I made a little office,” she said. She used two desks to make an L shape. 

“That gave me kind of that square look in the office,” she said. “And I put a credenza in the back that has my printer and my files and any binders I need. Things are kind of tucked away nicely”. 

Get set up and find your office vibe

Working from home on a regular basis means you will need more than a laptop and a free seat on the couch. It doesn’t have to cost thousands of dollars to set up, but it has to be functional and comfortable.

Sometimes spending more money up front will save money later on.

“One way to reduce costs a lot was to get a really good chair. So that has been my saving grace. It’s the most comfortable chair I’ve ever had, said Ratliff, who spent more than $400 on an ergonomic desk chair from Office Depot.  “It was so worth it. It fits perfectly in relation to the desk and the monitor and the height where my hands would be.” 

She estimates that the chair saved her about $2,000 in adjustable desks, computer monitors and keyboard trays that she would have otherwise needed to work free of the neck and back pain she’s had since an injury when she was younger.

Ergonomics should be a priority, not an afterthought, when it comes to setting up a home office. According to Oregon Occupational Safety and Health, good ergonomics leads to more productivity, less missed work and less pain from muscle and joint strain. That means your chair, your feet, your desk height, your computer monitor and your keyboard should be positioned in a way that puts the least amount of stress on your body so you can sit or stand comfortably while you work. 

If you are working for an employer, it’s likely you will be given a work laptop or at least a steep subsidy. If you are working from home as a contract employee, getting a good, reliable computer is absolutely critical to your productivity.

“My life and my work is on my laptop, so I have to have it. I can’t work  without it,” Dienst said. “So that’s an important investment for sure.”

Dienst and Ratliff both use Mac computers, which start at just under $1,000 and go up from there, depending on the model. You could also find deals on PCs for hundreds of dollars less as long as you have enough memory and processing speed to get your work done quickly and efficiently. 

While Dienst waits for her computers to conk out before replacing them, Ratliff  takes a proactive approach and replaces hers every five years or so. 

“If I can’t work, we can’t eat,” she said. “We don’t want to wait until I start having problems to replace a computer. We just make sure I’m always up and running no matter what.” 

You don’t always have to spend top dollar in every aspect of your office. Dienst found her beloved Crate and Barrel desk on the Facebook marketplace. It was originally about $500, but Dienst paid less than half secondhand.

Other must haves:

A printer. “Even if you don’t print things that often, if you work from home you will print more things than you realize,” Dienst said. (Many can be purchased for $100 to  $200.)

Software. “I’ve had to spend money on things I never would have thought of before,” said Ratliff, who pays a few hundred dollars each month for software such as Hootsuite for social media management, Trello for assignment and management organization, and Xero and Freshbooks for bookkeeping. (Costs can range from free to several hundred dollars a year.) 

Furniture. Ratliff uses a credenza to stay organized, while Dienst just spent about $150 on a new filing cabinet from Wayfair. “I really should have just paid more to have one that was put together because It took me three hours and I cried twice,” she admitted. “Putting together filing cabinets is not easy.”

Take advantage of tax deductions and employer perks

The upfront costs of creating and maintaining a home office may seem daunting, but the good news is that you may be able to deduct almost everything on your taxes if you are self-employed.¹

If you qualify for the write off, you can only write off the space that is dedicated solely for work. So you can’t deduct the entire square footage of your kitchen or your bedroom, for example, but you can take a measuring tape and deduct the square footage of your office space.

You may also be able to write off any office-related furniture you’ve purchased that year, such as chairs, desks, filing systems and you can deduct any office supplies, including printers, ink, pens, paper, staples and software.

“In my business, I try to be as organized as possible because it’s costly to not be,” Ratliff said. “At the end of the year I just send my accountant spreadsheets.” 

Other out of pocket costs you may be able to deduct include:

• A portion of your cell phone bill based on how often it’s used for work versus personal use.
• A portion of your Internet service.
• Work-related subscription fees for trade magazines or online libraries.
• Gas mileage for work trips if not compensated through your employer.

In addition to providing the basics for work-from-home employees, such as computers and Internet service, some employers are getting creative with their work-from-home perks, providing everything from headphones and other work-related electronics to stress reduction programs and even Disney+ streaming services to help entertain the kids at home during the pandemic.  

Make your space inviting

One great perk of working from a home office is that you can make the space your own. For Dienst that means putting up several plants in her office space for what she calls a “greenhouse effect.” For Ratliff that means making space under her desk for her officemate, her beloved German shepherd. 

“Sometimes I sit with my feet perched on his chest,” she said. “It’s not the best ergonomics, but we like it.” 

Dienst also invested in an espresso maker for $210 so she can keep the creative juices flowing and installed Roman shades on her windows to keep the bright South Carolina sun at bay. 

“That helps keep the space cool and make it so that I can adjust the light if I need to,” she said. “If it’s bright and hot you are going to want to go take a nap in a dark room.”

Wherever you set up your home office, make sure it is a space where you feel productive, comfortable and ready to work. And remember, the couch is always there for breaks. 

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