Chances are, especially if you are early on in your financial journey, you could use a little extra jingle in your pocket. Whether you want to invest more for retirement, save up for a home down payment more quickly, put away more for the kids’ college funds, or whatever other financial goal you have, extra income would help you achieve it. After all, there are only two ways to create extra margin in your financial life: decrease your spending or increase your income. Increasing your income is a great option for those who aren’t able or aren’t willing to further reduce expenses to meet their financial goals.
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All ideas in this article are broadly applicable and don’t require you to have a certain level of expertise or knowledge to start making money. However, it is worth noting that the most lucrative ways to make extra money may be those more specialized side hustles. For example, if you are a web developer, using your web development skills to take on your own clients or teach classes has much greater earning potential than driving for DoorDash. If you don’t have in-demand skills you can easily monetize, here are some side jobs that most people can earn good money doing.
1. Pet-sitting
Many pet owners would rather leave their pets in their own home where they are most comfortable instead of boarding them at a facility with other pets. Our cat Cleo was miserable when we boarded her and she always smelled weird when we got back from vacation. We started using Rover, which was about the same price for us, and our cats are happier and we get updates and pictures of them while we are away. If you love animals, taking care of other people’s dogs, cats, and other pets could be a great way to earn extra money. We are truly appreciative of the great pet-sitters we’ve found and you have the chance to not only earn extra money, but make lives easier for both the pets and their owners.
2. Gardening
If being outdoors is something you enjoy and you are good with plants, gardening can actually be a unique way to earn extra money. Several of my neighbors grow native plants and fruit trees and have plant sales every few months and make great money doing something they love. Gardening has so many more benefits other than earning extra money, like making your yard or neighborhood more beautiful, being outside and getting exercise, and the fulfillment of taking care of something and watching it grow and thrive. In addition to gardening, more traditional side hustles like landscaping and mowing lawns can generate extra income if you like yard work and don’t mind being outdoors.
3. Delivering food or driving for a ridesharing service
This is a side job with a lower barrier to entry as you only really need a car and a decent driving record to deliver food or drive for a ridesharing service. It is often not worth it if you don’t properly account for the mileage and wear and tear on your vehicle. However, it can be worth driving at peak times when rates are higher and users are tipping more often. If you don’t mind sharing your car with others and being on the road a lot, delivering food (or people) can be a great way to earn extra money.
4. Sell stuff online
One of the easiest ways to make extra money quickly is by selling stuff online that you no longer use. Facebook Marketplace is very easy to use and you can turn things that are just taking up space in your home into cash. Selling stuff online also has a high earning potential if you find a niche you enjoy and start sourcing goods specifically to resell online. Try to find a category with not as much competition; this is easier said than done, but something like antique postcards will be much easier to make money in than used clothing or video games. The online reselling world is very saturated, but it is still possible to make great money selling stuff on the internet.
5. Freelancing
Freelancing does require you to have some skill, but chances are you have a skill you can monetize by freelancing. What exactly can you make money doing freelancing? Almost anything. If you are a teacher, you could tutor students; if you are a skilled writer, you could write articles or copy in your spare time; if you have experience growing a brand’s social media presence, there are no shortage of companies looking to grow their brand online. No matter what you are good at, chances are you can offer your services to others and make money in the process.
Increasing your income is possible for most people, but it usually isn’t easy. You may have to commit to working more hours and spend some of your free time doing side work. Only you can decide if the extra work is worth it. If you are using the extra income for very significant and important financial goals, it very well may be. It’s not uncommon for those in the FIRE movement to work extra hours or side jobs in order to have the ability to retire early. Know your “why” before you start working extra jobs; is the additional money you earn worth the time you are giving up? Money is a limited resource for all of us, but time is the only resource that we can never get back.
