Money. Everyone could use more of it. Whether its student loans, a down payment on a house, a wedding or a nice vacation. Everyone loves more money. Your day job might be paying the bills, and letting you live a great life. But an extra stream of income could really change your life and give you more freedom, time and most importantly – more money. A side hustle can be a game changer. So much so that over 45% of Americans have a side hustle according to Yahoo. You may be wondering, well what side hustle should I start? With that being said, here are the 10 best side hustles you can start today in 2020.
What is a Side Hustle?
A side hustle is something that you do outside of your 9-5 job that you typically would enjoy doing to earn some extra income. Typically a side hustle starts out as something that you have to do just part time while you still hold you full time job, but the goal of most people’s side hustles would be make it a full time hustle and allow them to quit their job.
So why do people love side hustles so much? Well, most 9-5 jobs cover the bills and monthly payments, but what about vacations, concerts or anything else that you enjoy that may require more money than you get in your 9-5 job? That is where the side hustle comes in. Secondly, typically people chose a side hustle that they enjoy doing because its something that they want to do after working their 9-5 job. So it wouldn’t be something that makes them miserable. Third, you 9-5 is typically capped at a salary, where your side hustle could potentially make you endless amounts of money depending on the side hustle / business grows. And you 9-5 the company pays the CEO along with all the other employees. Your side hustle pays you only so the money adds up a lot quicker.
Now that you know what a side hustle is, let’s jump into what the top 10 side hustles are in 2020.
Top 10 Side Hustles That Can Make You
Money in 2020
#1 – Start A Drop shipping Store
Dropshipping is one of the best side hustle job ideas. It allows you to sell a product directly to the customer without having to buy any inventory. Why’s that great? You don’t need to have a big startup costs budget, keeping your risk low. The manufacturer not only carries the inventory, but also ships it directly to the customer for you. Your main focus should be marketing and customer service – the lifeline of the business. If you have a strong marketing background and want a side hustle that plays to your strength, this is it. It’s one of the rare side jobs that allows you to scratch a true entrepreneurial itch. You get to be the owner of your very own business.
With dropshipping you can start a store that is your favorite passion. If your passion is fishing you could start a fishing store. If you passion is cooking you could sell cooking equipment that you like using. The possibilities are truly endless with a dropshipping store. There are many different avenues you can go when starting a dropshipping store you can start with just one product and try to grow an audience. Or you can do a bigger store with multiple products if you wanted to do that as well. There are many different ways to start a store up its just about getting the right people in front of you products.
How much money can a drop shipper make? That depends on how much effort you put into your business and marketing. You can make an extra couple thousand dollars or more.
#2 – Freelance Content Writer
A great side hustle is something you can do from the means of your home, or even you bed. And this is a side hustle you can start right from you bed. A freelance content writer is someone who could write a blog for someone or you could create the text in a Facebook ad or newsletter. The possibilities are really endless when it comes to content writing because where there is text on the internet or even on print, a company could use your skills. And writing creatively and in a unique way that draws an audience isn’t always easy. So you can really earn a good side hustle income.
How much can a freelance writer make? As a side hustle, a freelance writer can make an extra $500 to $3,000 a month, depending on what their article rate is and how many articles they can produce in their spare time.
#3 – Become an Affiliate Marketer
An affiliate marketer is one of the side hustles where you can make a ton of money or nothing. In affiliate marketing you have to find the right product to promote. You also have to have an audience that would buy the product and find a good partner to sell the product through. Depending on what products you affiliate market you could payouts as high as 90% commission. You can also get payouts as low as 4%, so that is why you need to pick the right products. Tech companies can pay out very well if you refer someone to go use their product and services. Some paying you over $5,000 dollars just for one referral.
If you don’t know what affiliate marketing is, it is when a company has a product and allows others to promote that product to their audience. Then the affiliate marketer will get a commission every time their link creates a sale. It sounds very easy, but can actually be difficult at first to find a good product and find the audience that wants to purchase the product. But if you get a hang of it and find great products this could be a great side hustle.
How much money can this side hustle make? It depends on what product you’re selling and what affiliate network you use. For example, if you were an affiliate marketer for a tech company like Shopify, you could potentially make an extra $2,000 for every merchant you refer. Sweet!
#4 – Start a Blog
Blogging is one of the best side hustle jobs to do from home, or anywhere else in the world. It allows you to build a personal brand while owning your own asset. You can even write about your passions. Typically you want to target a niche when starting a blog such as business, cars, fitness, healthy eating or anything in between. From there once you get an audience you can also use links to start affiliate marketing in your blog if you are reviewing a product, or simply mention a product in the post. You can create a link and if the reader wants to make a purchase you will get a commission of the sale through your blog. Another great way to make through a blog would be sponsored posts. So a company would pay you a certain amount of money to write a blog post about them.
How much money can you make trying a side hustle like this? In the beginning, you’ll make nothing. But some bloggers who stick it out past the first few years have made enough money to quit their job and do it full time.
If you want to start a blog check out BlueHost hosting. They integrate with WordPress and is super easy.
#5 – Sell Information Products / Course
If your looking for a side hustle that has a huge potential to make you a lot of money, look no further. Selling informational products or a course has been a great side hustle over the past couple of years and will only continue to grow as more and more learning is leading to online. Another great part about this side hustle is it can be done at your home. This side hustle will take some time to create, research and marketing skills to get the course out to the public to flourish.
Another great part about selling a information product or online course, is you only have to create it once. After that, it is just all sales with basically no time commitment. Yes – I would recommend making some updates as time goes on so your course won’t get any bad reviews but that will be few and far between. And check this out – most courses are valued at over $500. So yes, that means you would be getting $500 for each and every sale. If I do the math on that, that number can add up very quickly. That is why online course and information products can be a great side hustle and can make you a lot of money.
How much money can you make selling information products? It depends on the niche, your marketing execution, and a variety of other factors. But a side hustle like this can result in a few thousand dollars each month.
#6 – Become a Virtual Assistant
Another side hustle that you can do from your bed. A virtual assistant is an assistant who works in a remote location, as opposed to a company’s office. They can help with tasks such as administration, social media, bookkeeping, and more. There’s been a growing demand for virtual assistants from business owners who need help on various projects. As a virtual assistant, you can specialize in countless areas.
Virtual assistants are really a jack of all trait’s and are critical for a business to operate smoothly. A virtual assistant can usually work their own hours and be complete time free as long as the work that they are assigned is done on the dates which is another great perk of this side hustle. Lastly, virtual assistants are becoming more and more in demand as everything is going online. So if this sounds like something you would be interested in – there is a chance there is a job waiting for you!
Becoming a Virtual Assistant Tip: When starting this side hustle job, you can find clients on popular websites like Upwork. However, you could start to see better results when you branch out on your own as an independent contractor.
#7 – Web Design / Web Development
For some of the side hustles listed above, you need a website. But what if you don’t know how to create a website? That is where web designers and developers come into play. With so many businesses transitioning more online and trying to grow their presence this is a great side hustle to start if you know how to build and design websites. Web designers also get paid well because it is a skill that takes time to learn and master. A great perk of this side hustle is freedom, you can take on more clients if you want or you can stop taking clients, you can work wherever and you can work whenever.
The hardest part about this side hustle will be finding your first couple clients, but once you can prove you know how to develop and build sites many clients will start coming to you. If you need work for really cheap or even free for the first 1 or 2, but then don’t be afraid to charge the premium if you believe in yourself and what you can do.
#8 – Become a Instagram Influencer
Growing up, most people dream of being famous. But truth is, not everyone can sing or act. Fortunately, you can still build a personal brand around yourself based on what you can do. Maybe you have a really cool fashion sense or can bake an awesome cake. On Instagram, anyone can start a side hustle by becoming an influencer. If you don’t like the spotlight, that’s cool. You can build an Instagram following around your dog or your photography. You can monetize your Instagram account in a couple of ways: sponsored posts or selling a product on your website.
#9 – Invest in Stocks
Investing in stocks and the stock market is something that has been done for decades now, but today you no longer need to be on the New York Stock Exchange floor to trade stocks. It’s as easy as downloading an app like Robinhood, and just start trading some stocks. Obviously, if you don’t have much knowledge in the stock market I would read up on the stock market, watch YouTube videos or even buy a course if you really wanted to learn and try to master the market. The great part about this side hustle is you can prepare the stocks you want to buy the morning or night before. Then the next day you can be buying or selling stocks at your work! Make sure you keep getting your 9-5 work done though :).
The stock market is always going to be tricky and hard to predict. In no way am I a financial analyst so if you do want to begin trading I would consult with a FA first.
If you are looking for a great investing and stock trading course here is one you should check out.
#10 – Drive Uber or Lyft
If you’re not really looking to create a start up style business from your side hustle, then this is a great opportunity. When you Drive for Uber and Lyft can make a great side income. Driving Uber and Lyft are as simple as downloading their app, answering a couple questions and then just start driving.
Driving Uber is great side hustle because you can generator over $1k a month if you put enough time in.
No matter what side hustle you chose, there really isn’t a wrong answer. These are all great side hustles you can start today! So don’t let anything hold you back, and start one of these today. If you liked this article and want to be apart of the best community make sure you sign up for our newsletter that has exclusive content, trends in side hustles and case studies on successful side hustlers!