When you have multiple student loans or credit card debt, making ends meet can be difficult — especially when the average student loan payment is $351. When combined with the cost of rent, groceries, utilities, and other essentials, high monthly expenses might have you desperate for new ideas to make money.
If you want to improve your finances, cutting expenses can only do so much. If you’ve already trimmed your budget to the bone and still struggle to make ends meet, you need to increase your income. Higher earnings are essential for your financial security and future.
The beauty of some these side hustle ideas is that many don’t require a huge initial investment or even necessarily a highly specialized skill-set. And certainly, not all qualify as “business ideas,” but each has the potential to earn you money in your spare time.
1. Driving. If you’re free mornings, nights, or weekends, you can earn extra cash driving your fellow citizens around.
Sign up with Lyft (currently offering a $300 sign-up bonus) or Uber to get started.
One cool “hack”: Both companies offer “Destination Mode”, which basically allows you to earn money on your regular morning and evening commute by telling the app which direction you’re headed and only accepting riders along your route.
2. Delivery Service. With services like UberEATS and Door Dash you can earn money on your own schedule delivering take-out orders in your town … and you don’t have to worry about keeping your car super clean for passengers.
3. Notary Public Service. Notary certification is granted by the state and the cost is generally less than $100.
Once you’re certified, you can charge your own fee to notarize documents, or become a loan signing agent like Brian did and make $1500-2000 a month overseeing mortgage signings in your spare time.
4. Customer Interviews. Many companies use customer interviews to get feedback on new products. Respondent is a cool service that facilitates those interviews that take place both in-person and online. (You can totally do this from home; just look for the ones that say “remote”.)
The best part? The average compensation is $140 an hour!
5. Affiliate Marketing. Refer website visitors to buy products online and earn a small commission on each sale. This is actually how I’ve made the bulk of my living over the last 10 years, so it definitely works!
There are multiple ways to make extra money in your free time. The best thing about side hustling is that it is all on your own terms, when your schedule permits.
So instead of wondering how you can save five cents on your next purchase, think of the big picture and think about how you can earn more. Earning more can help you pay down debt, save for emergencies, and fund your passions.
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