There are many benefits of working a side hustle. It can supplement your primary income and cover rent, utilities, or groceries to free up money for savings or investments in the stock market. Given the vast amount of freelance options available, it can be hard to sift through them and find the most profitable and flexible options for your unique skill set. Here are a few side hustle ideas to help you generate extra income:
Freelance Market Researcher
One often overlooked side hustle is becoming a freelance market researcher. On Upwork, market researchers earn anywhere from $50 to $100+ an hour. Typical job duties include monitoring industry trends, analyzing data on demographics, preparing reports, and conducting surveys or other forms of research on their own.
For more information on researching different industries, check out Research America, who are leaders in conducting professional market research. Researching for the automotive industry requires a different approach than researching for the healthcare industry, for example, so tailoring your approach to each client is necessary.
Social Media Manager for Small Businesses
Many small businesses lack the resources to regularly update their social media pages. That’s where freelance workers come in handy. By working just a few hours a week to update their social media pages and communicate with followers, you can earn a generous secondary income and still have plenty of time for your primary job, errands, and relaxation. You can increase your earnings potential by learning how to run sponsored posts or paid advertisements on social media. These may be more time-consuming, but they tend to yield higher hourly earnings. You can likely find many listings on freelance websites for social media services.
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Becoming an academic tutor for middle or high school students is a classic side hustle gig. Modern technology even allows for remote tutoring sessions, so you can tutor students anywhere in the country. It is recommended to complete some type of training and certification before getting started. Looking up guidelines for your specific state or school district is likely the best option.
There are many side hustles available to help supplement your income and free up money to invest in stocks. The variety of freelancer gigs alone provides high flexibility in choosing the right side job for you. The added benefit of being able to set your schedule makes it easy to work around your current full-time job. With time, you might be able to replace your day job with your side hustle!