TOP 10 SIDE HUSTLES:
- GETTING DIVIDEND INCOME
Anytime you go to buy a stock, what you’re REALLY buying into is a very tiny piece of ownership in a company - and, when that company makes a PROFIT - sometimes, they pay you a portion of what they make, in the form of a DIVIDEND.
- CAPITAL GAINS
This is what happens when you sell an investment - like, a dividend stock - for a profit - and the amount you’re taxed on is called your “CAPITAL GAINS,” which is the difference between what you paid, and how much it was worth at the time you sold.
- RENTAL INCOME
For people JUST STARTING OUT, without a ton of cash to buy a home, you can make QUITE A LOT of money by either renting out an unused bedroom in your house, or renting out your unused space for storage…like, a garage.
- SELLING SPARE ITEMS
Places like eBay, Facebook Marketplace, or Craigslist make it EXTREMELY easy to list whatever you have, place it up for auction, have the buyer cover shipping…and your total time commitment is simply taking pictures of what you want to sell, creating the listing, writing the description, and shipping it out once it’s sold.
- PART TIME WORK
If you’re willing to help out a local business, do some work for someone else, or earn some money after normal hours, evenings, or weekends…see what kind of options are available in your city.
- START A BUSINESS
I seriously think this is probably one of the most under-utilized “income sources” that people don’t take advantage of enough…because, working on ANY type of side business, that has the potential to grow completely independent from your main job, is not only a good way to make more money - but also, diversify yourself IN CASE something happens, and you don't have to find a job to fall back on.
- FOCUS GROUPS
The payout ranges depending on how long it takes, whether or not it’s online or in person, or how niche of a demographic they’re going for…but, most of the time, if you qualify - you should almost always do it.
- FLIPPING ITEMS
For example, go to Craigslist…and under the “FOR SALE” section…you’ll see a list of stuff that people are just GIVING AWAY. Now, yes - most of the time, it’s junk - but, if you look long enough - eventually, you’ll find something worth money that the owners just doesn’t have time to sell, and they want it gone.
- CREDIT CARD CHURNING
This is the practice in which you sign up for a new credit card - and then you meet the minimum spend to get the sign up bonus. Generally, these offers range anywhere from $100-$300 on the low end, all the way up to over $1500 on the “high end” for luxury cards.
- MONETIZE YOUR SKILLS
The thing is…if you’re good at something, or you have any type of UNIQUE skill…like, teaching Calculus, building websites…. being the first one to hit the like button….learn how to turn that into a side business.
SO, from EVERY SIDE HUSTLE that I have ever talked about in the past…these, BY FAR, are my top 10 favorite that should help increase your income, with the least amount of work possible. After all, studies have shown that - generally - the more income sources you have - the more money you tend to make.