The side gig industry is thriving, with around 45% of American adults engaging in at least one side hustle in 2023. The potential to earn extra income through side gigs is significant, with some individuals reporting earnings of up to $1,061 per month. Whether it’s to supplement income, save for the future, or simply have extra spending money, side gigs offer a flexible and accessible way to boost earnings.
One popular side gig that requires minimal investment is mowing lawns. Gene Caballero, co-founder of GreenPal, suggests that with less than $1,000 for equipment, individuals can start a lawn mowing service and earn up to $50-$60 per hour. By dedicating just five hours a week to this side gig, one can potentially earn over $13,000 a year. As the client base grows, so do the earnings, making lawn mowing a lucrative option for those looking to make extra cash.
Virtual assistant work is another popular side gig that offers flexibility and decent pay. Tracy Xu, director of finance and accounts at BarkLikeMeow, recommends becoming a part-time virtual assistant to help busy professionals with tasks like scheduling, email management, and social media. Platforms like Fancy Hands or Zirtual connect virtual assistants with clients, allowing individuals to earn around $15 to $25 an hour. By dedicating 10 hours a week to this side gig, one could potentially earn $10,000 or more in a year.
For those interested in real estate, partnering with real estate agents or investors to bring in leads can be a profitable side gig. Sebastian Jania, owner of Alberta Property Buyers, suggests connecting with potential sellers and referring them to local agents in exchange for a finder’s fee. Alternatively, working with investors to locate distressed properties can also result in significant earnings. By successfully bringing in leads, individuals can earn anywhere from $500 to several thousand dollars per transaction.
Painting houses is another low-barrier side gig that offers quick payouts. According to Jania, the average person earns $22 an hour painting houses, requiring just nine hours a week to make $10,000 in a year. Selling printables online, tutoring, freelance writing, life insurance telesales, and rideshare or delivery driving are additional side gigs that can help individuals earn extra income.
Overall, the side gig industry provides a plethora of opportunities for individuals to boost their earnings and achieve their financial goals. With a variety of options available, from lawn mowing to virtual assistant work, there is something for everyone looking to make extra cash in 2024. Whether it’s a simple side gig or a more specialized opportunity, side hustles offer a flexible and accessible way to increase income and achieve financial stability.