finance, Money Moves, productivity

Side hustle inspiration.

…Money won’t make you happy….but the options it provides might.

Relying on one source of income is risky. For most people their 9-5 is the bulk of their income. Relying on your 9-5 puts your destiny in someone else’s hands. What if they eliminate your position? Or what if your company goes bankrupt? Having reliable sources of additional income can safe guard you from someone else screwing you over and it gives you flexibility and control.  For me having additional income sources gives me peace of mind. I like having more than one pay day a week and the goal is to eventually get paid everyday.

Researching the right side hustle for you is a great place to get started on creating passive income for yourself. Here is a list

Airbnb

This is a great way to make passive income that requires only a small amount of effort from you.

A spare room, setting up your basement into a small living space for a guest or posting your house while you are out of town is easy.

Get creative with this. Do you want to go on a weekend getaway with your husband? Put your house on Airbnb for the weekend and use the money you make to pay for your weekend getaway.

I have a small apartment in a sought after downtown area. The rent there is 800.00/month. Its a small bachelor suite. With a little bit of TLC we have made it a welcoming space for a traveler looking to stay downtown for much cheaper than a hotel.

We charge 65.00 dollars a night for our entire apartment and have it booked out 75% of every month.

This generates about 1462.50 monthly.. sometimes more sometimes less.

We pay our 800.00 dollar rent and are left with a profit margin of 662.50.

This is a low maintenance side hustle for us and we have had great results. Of course if you are going to be renting out someone else’s property like we do. Make sure this is cool with the owners. Most people are fine with it as along as your rent payment hits their account and you have a good guest screening process in place.

Refinishing Furniture

This is a fun one that doesn’t cost a lot of money and gets your creativity flowing.

There are so many cool and overlooked cheap pieces of furniture out there. With the right eye you can spot them, refinish them in a clean and stylish way (Pinterest has so many great ideas!)

Put them up for sale on kijiji or Facebook for more than you paid. This is a great hobby/side hustle combo that you can actually make decent money with.

Childcare

For moms who are already home with their children this is a great way to make some extra cash. Your home already has a bunch of toys and your kids will have a fun play date.

Post up on Kijiji or Facebook that you are offering a service not a favour. Offer to babysit in your home for a flat over night or hourly rate. You get to work from home and stay with your children. On big holidays like new years your can charge more.

Party Planning

Having a creative and organized person on your side while you are planning a party of wedding can be a huge asset to a stressed to a bride.

Set up a little side business where you handle decorating and taking care of the gritty details (calls and bookings) that go into planning a successful event.

Charge an hourly fee or a flat rate based on the type of event and what you will need to do don’t under value yourself either. This can turn into a full time job and I know a lot of people who have made (or paid) lots of money this kind of service.

for you if you enjoy it. Start with your friends and smaller events and work your way up and build up your clientele.

Photography

Are you always taking pictures?  Do you like editing them and posting them? Consider taking up photography as your side hustle.

This is another version of a hobby turned side hustle that can net your a lot of money!  You can offer to take family portraits, or photograph events like engagements and weddings.

You’ll get to network with so many cool people and make a profit. There is an endless supply of educational information on photography on the internet with a little effort and dedication you can get pretty good at this.

Some photographers charge 250.00 an hour! This kind of side hustle gives you the control to choose what days and times you work. Making it on your terms is what side hustling is all about!

Book Summaries

Do you enjoy reading? Do a quick little video that summarizes the books you read.

Some people don’t like to read or think they don’t have time but still want to get the information.

Book summary videos are getting tens of thousands of views on YouTube which equals cash.

Credit Card Points

This isn’t a side hustle per say but its a great opportunity to make money for doing nothing.

Lots of great credit cards out there offer cash back option just for using the card.

Shop around for a no annual fees and a points system that makes sense for you. Use this card for all your spending a watch your cash back balance grow.

Trading

The ultimate side hustle in my opinion. It takes practice and discipline and sometimes you will loose but with a little research and a lot of patients the markets will offer you a return.

Finding your stride and style when it comes to trading is a cool discovery process. I love digging into the gritty details about a business plan to see if it is a wise investment.

Sometimes navigating through the hype and hysteria can be tedious but I have had some great success making my money work for me.

A good stock will work for you all day while you can focus your time and energy elsewhere. 

More on that here.

Real Estate

This is a no brainer. If you have the money and can afford to take out another mortgage to buy a rental property you should.

The renter will pay your mortgage which creates an asset for you and also creates a passive income stream. This is a double bonus situation. Yes being a landlord has its down sides.

The fact that rental income will generate itself no matter where you are or what you are doing makes this one a sure thing.

Service industry

I have always worked as a waitress as well as working my 9-5. If you work a busy Friday night shift at a good restaurant you can make 150 in tips alone, do this a few times a month and you have a great cash flow situation. Dinner shifts are short 3-5 hours and none of this work has to come home with you . I’ve also done some of my best networking while waitressing or bartending and have made friendships that will last a lifetime. For me there is something really special about working in a restaurant.

Social media and blogs

This is a tough one but it can be huge for you if you are consistent. Having revenue generating from an internet business means you can work from anywhere.

my best advice is to find a theme that you know well and that inspires you. Post often and consistently and stick to your original theme. People will seek out specific topics not people.

My theme is Finance and Organization. I get views from people who are looking for ways to improve their finances or get their life organized. Themes can be anything you like, know and do.

Network Marketing

Network marketing is essentially when you create a distribution line using people.  Incentivising the everyday consumer to encourage other people to use a product is a creative and sometimes controversial marketing and distribution tactic.

Lots of different products use this strategy for distribution with incredible success (we are talking billion dollar companies) This business model can work for all kinds of different products. Network marketing in todays age of technology is an incredibly flexible and potentially lucrative side hustle. Gone are the days of knocking on doors. You can work for a well established network marketing company, and there are lots of different paths to choose based on your interests. Stay committed and focused and you can make lots of cash.

A close friend of mine uses network marketing to distribute a product she is passionate about and is making a six figure income annually doing it. She travels all over the world for her business. Follow Jessica’s network marketing journey for some serious side hustle inspiration here.

 

 

Do you have a side hustle that works! Let us know in the comments.

 

This is a nice little list to get your ideas going, more side hustle ideas to come!

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