As much as we try to stay out of debts and money problems, sometimes unforeseen challenges can come up. Other times, it may be that your current income is not sufficient, and it’s tough making ends meet with your little earnings.
Whatever the case, having extra money never hurt anyone. If you’ve recently faced a hard time financially and are looking for a come-up, then this article is for you. If you have some free time on your hands and you’re looking to turn that time into cool cash, you need this too.
Wherever you stand, this guide features five simple and legal ways you can make some extra bucks in 2021.
Why you need a side hustle in 2021
This seems like a pretty obvious statement. Why does anybody need money?
Well, knowing why you need money can help you use it better when you get it. It is no use working hard to earn money and then spend it wastefully. Knowing the specific reason you need to earn more money greatly helps with managing your finances.
If you’re not really sure why you need a side hustle in 2021, these may help you identify your needs.
1. To meet your money goals
Every financially intelligent person sets money goals. A money goal is a financial milestone or objective that you intend to meet over some time. Many things can impede attaining a money goal; debt, emergencies, low income, and many more.
With an extra source of income, it becomes easy to meet your money goals without hassle. Being specific about how much you intend to set aside regularly to meet this money goal is one of the keys to attaining your goal.
Another one is to have a steady source of income that can cover the finances needed to meet up with that milestone. With a side hustle, you can have that easily.
2. To save for a specific need
While general savings are necessary, sometimes we have needs that only financial resources can take care of. For instance, paying for college or a new car. You can save to meet your specific needs through your earnings from your side gigs.
Setting aside money from your side gigs can build up the necessary funds to meet your specific needs faster. You may even save up the entire money you get from your side hustle and only spend from your main job until the need is met. It’s smart thinking!
3. To take care of your daily needs
Apart from offsetting debts, side gigs also help you take care of your daily needs. Not every 9-5 pays so handsomely. With an extra helping of cash inflow, you can live more comfortably and afford your daily basic necessities.
Not just that, you can up your savings game since you now earn more.
3 Important criteria for side hustlers
How do you know what qualifies as a legit, money-making side hustle?
Many people go into extra money-making ventures but do not see any benefit to show for it. It may be because they have not done appropriate research on side hustles that are lucrative for them.
In 2021, almost everyone has a side hustle. While many make a few bucks from their gigs, some make so much more. Why? Perhaps, because their chosen side job is not a necessity to many people.
Even though it is legit, the demand for it isn’t high. Before you commit your time, energy, and resources to a new side gig, as yourself these questions:
- Is it flexible? If you already have a standard job on the side, how well will your side hustle fit into the picture? Would you be able to take the time to run it effectively? Is it going to consume too much of your time? Can you flexibly work your schedule around it?
- What is the earning potential? Earning potential is the capital appreciation or potential amount you expect to receive from a business or enterprise. Simply put, it is the amount of money that is possible for you to earn from your work. If you hope to earn well from a side hustle, it needs to have a high earning potential. No matter how much effort you put into your side gig, your earnings will also be low if the earning potential is low. This leads us to the next criteria, Demand.
- How high is the demand for the side gig service or business? A side gig that has a high demand will bring back much returns. It will then be a case of being able to keep up with the demands.
As long as you can provide your services for those who need it, you will make your gains.
5 Easy ways to make money on the side in 2021
Now that you understand the important necessities to help you choose the perfect side hustle let’s delve into the year’s top picks.
1. Fill surveys online
This has been one of the topmost money-making options for many years. It might surprise you to know that many companies need your services to help them fill out surveys.
There are so many of them that many survey sites have sprung up to accommodate this need. The best part about filling surveys online is that sometimes you get to try out free products before they hit the stores so that you can give back accurate feedback.
Also, taking surveys doesn’t require too much energy or effort. You can fill out surveys while lounging on the couch after work or any other time you are free.
Some people’s favourite survey sites are Swagbucks, Inbox Dollars, Opinion Outpost, etc.
2. Rent out your space
Property rental is another easy way to make money on the side without putting in too much work. Got an extra unused room in your home? Turn it into an Airbnb and start making cool money!
Running an Airbnb at your home does not have to be such a time-consuming endeavor. With Airbnb management software to handle management processes like bookings, price modifications, monitoring channel listings, and many more, half the burden of the job is taken off you.
All you need to do is set up the room nice and clean, suitable for receiving guests, and manage your processes with property rental software, like Lodgify. Ensure to get professional-looking pictures of the room(s) for rent on your site and use compelling booking CTAs to attract customers.
Once you start to receive bookings, you can get a steady stream of income from this investment.
3. Try house-sitting, pet-sitting, or dog-walking
If you’re the type that enjoys calmness and serenity, then a house-sitting hustle may be what you need. House-sitting requires you to stay over at someone’s home during their vacation or trip out of town.
What you’re essentially required to do is to keep an eye out on the property for them, as if they were home. HouseSitter is one of our favorites to get started. The best part is, you can even do another side hustle from this location. If you work remotely, make that three sources of income at once!
Pet-sitting is another common option, although this may not be as calm as the former. If you love animals, this shouldn’t be a problem. With a few industries going back to the physical workplace setting, pet owners are forced to leave their bundles of fur at home to go and chase the paper.
You can sign up at Rover to get paid to stay home with pets or take them on walks. This way, you can keep the animals company and keep them well-exercised. Many pet parents are happy to pay to see their babies happy, so sign up to get connected in no time.
The best part? You can include other pet services you can easily handle, work at your own time and choose the types of pets you prefer to work with. Easy money!
4. Become a freelancer
Today, almost anybody can become a freelancer.
What do you know to do best? You can get paid for it and work only on your terms. There are so many freelancing sites where you can sell your skills and have clients clamoring to hire you. You set your rates, your work schedule, and just about anything to aid your work convenience.
Fiverr is one site that allows you to do all this and more. Can you write excellently? Many clients are looking for your skill on Fiverr. Can you code? You’re a hotshot on the site. Do you know how to animate videos? Or design unique logos? Your earning capacity on Fiverr and other freelance sites is not child’s play.
From $5 upwards, you can generate some quick bucks on Fiverr. Other freelancing sites to try are Upwork and Guru.
5. Become a social media manager
An online presence is paramount for many companies in this digital age. Social media is one avenue through which these companies can amplify their digital presence.
If you’re vastly proficient in many social media networks, including Facebook and Twitter, then small businesses need your services as a social media manager. You can help them with their social media needs by posting on schedule, responding to comments, replying to messages, and improving their general digital marketing.
Start with a few clients, say one or two, then scale upwards as your capacity allows.
Starting a side hustle is both fun and a little bit of a challenge. Now that you know what to look out for in a side hustle, you can identify which money-making opportunity you want to explore.
It may seem daunting at first, but it evens out after a while as soon as you find your balance.