5 Side Hustles To Help You Gain Financial Stability and Live Life on Your Terms
Whether you want enough money to buy some real estate or you just need to start saving for retirement, your free time is one of your greatest assets to maximize your earning potential. Not only can a lucrative side hustle help you start your savings journey but it can also help you chip away at your credit card or student loan debt.
Read: Pocket an Extra $400 a Month With This Simple Hack
5 Best Side Hustles That Lead To Financial Security
If you’ve been picking up some jobs on the side to make money, you don’t just need more side hustle ideas, you need to earn enough money to create financial stability for yourself. Whether it is freelance work or a full-time job, you should be the captain of your finances, not your employers. Here are five profitable side hustles to help you earn extra money, and then some:
Create a product website
Open an e-commerce store
Start a blog reviewing movies or books
Become a virtual assistant
Teach your own online course
1. Create a Product Website
Outside of Dropshipping, there are other ways you can create a product website that can boost your bank account in no time. This is a great side gig to start, especially if you have graphic design skills to help with the setup. Here are some takeaways to successfully help you start selling products online:
Selling products can be a straightforward process or you can work with affiliate programs so if you promote or sell a product from a company you partner with you can earn a ton of passive income through commission.
Many major companies have affiliate programs such as Amazon, Shopify or eBay.
Starting a website isn’t difficult even if you aren’t tech-savvy as there are many website builders and template creators such as Squarespace or WordPress.
Be sure to pick a product you are familiar with or are passionate about to make the selling process easier and less stressful.
2. Open an E-commerce Store
Selling your own brand or product comes with much less overhead than starting your own online store. Whether you make your handmade goods, have a teachable skillset or are great are selling or repurposing vintage items this is a great way to start your own profitable small business that you control entirely. Here are a few tips:
Building your own e-commerce business allows you to sell products, services or other goods directly, so no third party eats into your profits.
If you don’t want to deal with your own website right away for your store you can look into other established platforms like Etsy, Instagram or eBay.
Utilizing your social media presence throughout all of your accounts will enhance your ability to make money and grow your audience. This makes finding clients more probable, and the more followers you have the more opportunities to earn extra cash.
3. Start a Blog Reviewing Books or Movies
Starting a review blog is a form of freelance writing that can generate a lot of income for you. You can become a source for people trying to find a good show or book in the seemingly infinite amount of content available today, Not only is this a great side hustle if you are passionate about movies or books but here are a few other takeaways:
Having a blog dedicated to guiding your followers or people searching for the best shows, movies or books could become profitable as content guides are in high demand.
Once you have an established audience you can monetize your blog by running ads or featuring sponsored content which can greatly increase your earning potential.
Choosing a niche or genre of content can also help you find your followers and help separate you from other review sites or blogs.
4. Become a Virtual Assistant
If you have a knack for organization there are many companies out there in need of your services. Helping with office work without the need to go into the office allows you to outsource your skills to more than one client. Virtual assistants help with administrative duties such as:
Operating as a high-level support for businesses or business heads.
You can work remotely which cuts back on in-office time commitment.
Becoming a virtual assistant allows you to freelance your organizational skills.
Common tasks for virtual assistants include organizing employees’ schedules, optimizing interoffice communication, correspondence through phone calls or emails, putting together conference calls or meetings and more.
5. Teach Your Own Online Course
Having a teachable skill is a growing market, especially if it is a talent that will serve others in their everyday lives. No matter what you excel in, there is no doubt an audience looking to learn how to do what you do. Once you set up your online course, grow your student base that pays you for each lesson.
Here are some common topics people search for guidance in:
English
Sewing
General repairs
A second language
Arts and crafts
Learning a musical instrument
Not only can you teach your class as an online business but you could also add tutoring to the roster in areas such as SAT preparation or other school curricula.
Final Take To GO
There are many ways to make a dollar here and there in your spare time such as completing online surveys or delivering food. However, if you want your part-time job to become your full-time pay, you need to focus on side hustles that are more profitable. Choosing the right one for you can actually help you quit your day job.
FAQ
What is the meaning of financial instability?
Financial instability exists when you are not capable of appropriately allocating your resources or funds. Essentially it is when you cannot efficiently manage the financial risks you take, your employability or your ability to your current economic circumstances or greater climate.
What is the no. 1 side hustle?
Here are some of the best side hustles available today:
Become a virtual assistant
Sell your art or handmade goods
Start a housesitting or pet sitting company
Teach or tutor online
Complete online surveys
Online focus groups
Open an e-commerce store
Social media manager
Start a blog or review
Teach online courses
Sell your skillset
Rent your space or extra room
Start a cleaning business
Deliver food or goods
Sell or repurpose thrift store clothing
Begin Dropshipping
How do you achieve financial stability?
There are many paths to achieving financial stability. One of the best and most profitable is to start a side hustle such as the following:
Create a product website
Open an e-commerce store
Start a blog reviewing movies or books
Become a virtual assistant
Teach your own online course
This article originally appeared on GOBankingRates.com: 5 Side Hustles To Help You Gain Financial Stability and Live Life on Your Terms
