Audible is an audio storytelling service featuring audiobooks and podcasts founded in 1995. Amazon acquired Audible in 2008, and today, it has a global reach in over 180 countries and in 47 languages.
With hundreds of thousands of titles in the platform’s catalog, it’s no wonder listeners turn to Audible. But can you make money on Audible?
If you want to expand your income stream through a side gig, social media platforms like TikTok and Instagram often come to mind. But there is profit potential with Audible. The key is to focus on two areas — content creation and affiliate marketing.
How to make money on Audible with content creation
You can create audiobooks on Audible, narrate someone else’s book or apply for an influx of cash to produce a podcast through Audible’s development program.
Narrate audiobooks
Audiobook Creation Exchange, also known as ACX, is Audible’s marketplace for connecting people involved in the creation of audio storytelling — think authors, agents, publishers, narrators and producers.
The platform can help you link up to authors who are seeking a narrator for their books. Contracts can be structured in a few different ways:
Pay-for-production deal: you’ll receive a flat fee based on your narration services.
Royalty share deal: you’ll receive a royalty for each sale of an audiobook you narrated.
Royalty share plus deal: you’ll receive a flat fee upfront for services performed plus a royalty on each sale.
Depending on the distribution rights, narrators can earn up to 40% in royalties.
Create your own audiobook
While narrating someone else’s audiobook can earn you a fee upfront and/or royalties over time, you also have the option to create and produce an audiobook through ACX.
This method will likely work better if you already have a built-in audience, such as through blogging or social media followers. If you don’t, there are still opportunities to earn but you may have to get creative.
For example, say you are a decluttering wizard employed as a professional organizer. You create your audiobook on how to declutter a home in seven easy steps.
Even if you don’t yet have a social media audience, you can still visit topic-specific groups on social media platforms to promote your audiobook. For instance, the group Decluttering & Organizing Tips & Tricks on Facebook has almost 150,000 members and averages 10 new posts a day. That’s a good number of people already interested in the topic to share the link to your audiobook.
Not only do you earn royalties from the sales of your book from those who clicked through and purchased it, but you also can earn up to $75 through the Bounty Referral Program for each new member you bring to Audible.
Audible Podcast Development Program
Have an idea for a podcast? The Audible Podcast Development Program grants a $10,000 commission fee to bring a podcast idea to life. This includes production costs, guidance on scripts and production, and access to high-quality equipment and resources.
At the time of this writing, the submission window had closed but check Audible’s website frequently to get updates on when the next call for entries will take place.
How to make money on Audible with affiliate marketing
Affiliate marketing is when you promote someone else’s product in exchange for a commission each time you net a sale. Audible provides two affiliate programs, Amazon Associates Program and the Creator Program.
Amazon Associates Program
The Amazon Associates Program has been around for 18 years and allows you to advertise and promote products through Amazon. In 2015, the program expanded to include the option for earning advertising fees for referring Audible purchases.
The program encompasses more than advertising audiobooks, though. The wide net of commissions creates profitable opportunities if strategically applied. For instance, let’s say you’re a travel blogger. You can use the Amazon Associates Program to advertise luggage, carry-on essentials and travel toiletries — in addition to the latest travel audiobooks — and earn a commission on each referred sale.
For Audible, the following fee structure is available for each type of purchase you refer through Amazon Associates:
Audible Gold digital membership: $10.
Audible free trial digital membership: $5.
Audible audiobook purchase: 50 cents.
Creator Program
The Audible Creator Program is similar to the Amazon Associates Program, but is specific to Audible and used by podcasters. The program gives you $15 for every free trial membership you successfully secure.
The idea is that you promote the 30-day free trial of Audible to your podcast audience. When someone you refer follows your link and signs up for the free trial, you earn a $15 commission. You get paid monthly for commissions, as long as you reach a $30 payout threshold.
Get more financial clarity with NerdWallet
Monitor your credit, track your spending and see all of your finances together in a single place.
Other ways to make money online
If creating and marketing audiobooks isn’t your thing, there are other ways to build a side hustle online. Consider:
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode:
Explore car buying in 2024, from Carvana’s process to the electric vehicle surge and how to maximize your car’s sale value.
Budgets Beyond the Numbers: How do you manage the emotional aspects of budgeting? What’s the car buying market like in 2024? Hosts Sean Pyles and Elizabeth Ayoola discuss personal budgeting and the future of car buying to help you understand how to navigate financial decisions with confidence. They begin with a discussion of budgeting “beyond the numbers,” with tips and tricks on categorizing expenses into their emotional impacts to make budgeting feel more personal.
Today’s Money Question: Is Carvana a good service? Should you buy an electric vehicle if you’re in the market for a new car? NerdWallet autos writer Shannon Bradley joins hosts Sean Pyles and Sara Rathner to delve deeper into the future of car purchases and the electric vehicle revolution. They explore the evolution of electric vehicles, the current state of the car market for both buyers and sellers, and strategies to get the best deal when selling your vehicle. The conversation aims to provide insights on choosing the right time to buy an electric car, understanding the market dynamics, and ensuring a smooth car selling experience.
Check out this episode on your favorite podcast platform, including:
NerdWallet stories related to this episode:
Episode transcript
This transcript was generated from podcast audio by an AI tool.
Sean Pyles:
What’s in a budget? If you look at the 50/30/20 budget, you have your needs, wants along with extra debt payments and savings. But we all know a budget can be much more than that. We get into it this episode. Welcome to NerdWallet’s Smart Money Podcast, where we help you make smarter financial decisions, one money question at a time. I’m Sean Pyles.
Elizabeth Ayoola:
And I’m Elizabeth Ayoola.
Sean Pyles:
This episode we answer a couple listeners’ questions about car buying and selling, including what to know about the electric car market right now. But first, we’re exploring what’s really in a budget beyond the numbers and Elizabeth, this is something that you are especially interested in, right?
Elizabeth Ayoola:
I am, Sean, because budgeting gets a bad rep, but it can be fun too, especially when you have something you really want and are working towards, but it can be equally stressful. I’m not going to deny that.
Sean Pyles:
Totally. When people hear the word budget, they might just think about numbers in a spreadsheet or about restricting themselves from purchasing something that they want. Neither is really fun. And don’t get us wrong, we are still big proponents of having a budget and we think the 50/30/20 budget, where you have half of your income going towards needs, 30% going towards wants and 20% going towards extra debt, payments and savings, can be a really accessible and flexible framework for most people, but it doesn’t get to the more personal parts of our finances. So Elizabeth, you like getting into those deeper parts of a budget and you do this by breaking it into three general categories: something stressful, something exciting, and something confusing. Can you talk about why you are thinking about your budget in this way and what’s the purpose of each category?
Elizabeth Ayoola:
So I feel like by doing this, it gives our budget some personality, it creates some interesting conversation around our budgets. I think we all know that budgets can be monotonous, so breaking it up like this helps me stay engaged with my budget and also have something to feel excited about. You know what I’m saying, Sean? So the confusing one especially is a chance for me to challenge myself to untangle areas of my budget where I’m winging it or I’m just disorganized and usually I’m winging it or disorganized because I’m overwhelmed and don’t understand something.
Sean Pyles:
This reminds me of a game that I sometimes play with my friends called Rose, Thorn, and Bud. The rose is something good that happened to you, the thorn is as you might expect, something that’s a little bit thornier or unpleasant and the bud is something that is in progress or something that you are excited about. This is kind of like that, but for your finances, it’s a way to categorize items of your budget under broader themes, which can help you process them in that more personal and emotional way. Is that how you think about it too?
Elizabeth Ayoola:
Exactly. You just put it in a fancy way. Thank you, Sean.
Sean Pyles:
Thank you.
Elizabeth Ayoola:
And I also have a new game that I’m playing with my friends because I’m stealing your idea.
Sean Pyles:
Happy to hear it.
Elizabeth Ayoola:
As of recent, I’ve been asking them when I go on girlfriend dates, what’s one thing they hope happens this year? But I’m definitely going to swap it out for your idea.
Sean Pyles:
Oh, I love that. Well, to help our listeners understand this way of thinking about budgeting, Elizabeth, I would love to hear what you are finding stressful, exciting, and confusing in your budget right now?
Elizabeth Ayoola:
As a recovering over sharer, I am definitely going to share that. So let’s start with stressful. Start with the worst, a moving budget. So just please anybody rescue me on a red carpet and make sure you bring a margarita with you because moving is stressing me out. I’m trying to make the move as cost-effective as possible because it’s looking like I’m going to spend a couple of thousand dollars right now and that’s really hurting my feelings.
Sean Pyles:
Yeah, it’s a lot of money.
Elizabeth Ayoola:
So now let’s get into the exciting thing, a love sack. I don’t know if any of our listeners or you, Sean, have heard of love sacks before, but they’re essentially these giant beanbags and in my fantasy of living out the Bohemian dream in my household, I have something like a love sack where I can read books and watch Netflix and do whatever else I want to do on it. So I’ve wanted one for years, but they are pretty pricey. They can start around the $900 range and go up to a thousand dollars, but I am budgeting for that and I’m looking forward to it. The only thing I’m worried about is my son putting his Cheeto hands all over my stuff.
Sean Pyles:
That’s a fair concern. Also, you might want to wait to get that until after you’re moved because that would be just one other thing to haul across state lines.
Elizabeth Ayoola:
Oh fact, I’m definitely not buying that now, so I’m going to buy it once I move. So it’s also giving me more time to save towards it or to budget for it. Another exciting thing I’m also budgeting for is to go to Nigeria. So I am Nigerian for the listeners and I haven’t been since I had my son maybe like four or five years ago, and he’s been asking me to go. That’s kind of what inspired the trip, but it does cost a couple of thousand dollars, so I’m budgeting towards that as well, but excited. And lastly, what is confusing? Balancing business and personal budgets at the same time is very confusing for me right now.
So I’m trying to kind of figure out how much to put towards retirement saving because my expenses just keep changing and I’m also trying to ensure that I don’t commingle, which is when you’re mixing kind of your business finances with your personal because we don’t want the IRS to come knocking. So all these kind of things are just confusing and maybe a little bit stressful as well. Then lastly, my son is going to a private school in August, so my budget is going to change. I’m trying not to be hard on myself because I really like saving big chunks of money and him going to private school might mean I have to save less, but it’s all good.
Sean Pyles:
See, I feel like this really shows how your budget is being enacted to help you meet the short and long-term life goals that we talk about so much on Smart Money and also the various emotions that come with meeting your goals or trying to meet them and the compromises that are just inherent in this conversation you have with yourself and your finances. Also, Elizabeth, last week you said that you were financially boring, and I’m going to say that all of these things are interesting. I’m especially excited about your trip to Nigeria, so let me know how that goes. And also let me know where you land on your savings when your son starts private school.
Elizabeth Ayoola:
Of course, I’m going to share that with you guys, so watch out for that. It has been so long since we’ve been to Nigeria, so we’re looking forward to it. And private school, well all the listeners with kids know that kids swallow up your dollars, but I hope to get a good return on investment on this. So what are yours, Sean? Tell me about your things that are stressful, exciting, confusing.
Sean Pyles:
Okay, well this is where I reveal that I am actually boring. Something stressful is that I’m in the middle of a season of travel right now, which is not boring. It’s very exciting actually. But I went down to San Francisco for a concert a couple of weeks back and I’m about to fly out to the East coast to see some friends in New York and DC and it’s going to be great to see these friends and it was great to see San Francisco again where I lived for many years, but boy, oh boy, traveling is very expensive. It’s much more expensive than working from home day in day out and the adjustment from making my breakfast every morning and having my coffee and a nice little ritual for myself, going from that to spending $20 on the sandwich and a coffee every single morning is a little bit painful and a little bit stressful for my budget, but I’ll make it work.
And then something exciting, this might be a little bit premature because it’s not actually going to happen for nine months, but I’m getting relatively close to paying off my car. I’ve had this car loan since 2020 and I know I took a longer car loan than we typically recommend, but that’s just where my finances were at the time. And I’m kind of lucky to have a pretty affordable car payment. But I am also very excited about having that extra $350 that I pay for my car each month back in my budget, even though I will likely direct most of that into my car savings bucket. Confusing? To be honest, nothing is too confusing for me right now fortunately, but as ever, I am in this continual dialogue with myself and my ADHD impulses that tell me to buy random things that I sincerely do not need. And what’s helped me recently to shake myself from buying things online is just asking what do I expect this thing to do for me? And the answer is usually nothing meaningful. So that helps me break the spell.
Elizabeth Ayoola:
Oh, I love that. And I can relate with you re ADHD. I think in a previous episode I told y’all that I was emotional buying and I’m so glad to update y’all that that has stopped.
Sean Pyles:
Oh, congratulations.
Elizabeth Ayoola:
Thank you. No more random Zara shops every other week. So I’ve been doing pretty good and I can understand what you’re saying, re travel because I have lots of upcoming trips as well and it’s so expensive. But Sean, I’m excited about the car. $350 a month sounds really good to do something else with. And that’s about how much my payment is too. So I’m going to tap into your excitement and hopefully I will be there next year.
Sean Pyles:
Manifesting that for us, yes. Well listener, I hope this exercise has helped you think about your own budget in a new way. Before we get into this episode’s money question segment, let’s check in on our nerdy question of the month, which is what is your weird money habit, behavior, or principle that you live by?
Elizabeth Ayoola:
Here’s one weird money habit that a listener texted us. I just listened to your podcast of a person with dozens of credit cards. I’m one of those individuals too. To be clear though, the only balances I carry are those on temporary 0% promo offers and ones that are paid off monthly. My system is to carry five to six cards in my wallet and rotate them, then return those cards to the bottom of my home credit card stack. Another side gig hobby I do is entering sweepstakes online daily. It’s an easy but exciting activity that can lead to surprise winnings at any given time. My biggest win to date is $24,000 minus taxes, of course. That’s a large chunk of cash.
Sean Pyles:
Oh, that’s an interesting one. Thanks for sharing that. So listener, let us know: what is your weird money habit? Do you only use cash for all of your transactions or are you a hardcore credit card point maximizer?
Elizabeth Ayoola:
Or maybe you have 10 billion bank accounts like Sean. Okay, he just has 10. It’s not 10 billion, it’s just 10.
Sean Pyles:
I didn’t really think that was weird until recently. I was talking with a friend who was considering getting her very first high yield savings account, and she looked at me like I had two heads when I mentioned that I have 10 accounts. So maybe that’s also a good way to think about this. What is something that you do with your finances that seems maybe totally normal to you, but everyone else around you thinks is a little bit off? We want to know.
Elizabeth Ayoola:
Yes, we do. So tell us your weird money habit by texting us or leaving a voicemail on the Nerd hotline at (901) 730-6373. That’s (901) 730-N-E-R-D. Or you can email us a voice memo at [email protected].
Sean Pyles:
And while you’re at it, send us your money questions too. We know how confusing money can be and we want to help you make smarter financial decisions. And a quick reminder that we are running another book giveaway sweepstakes ahead of our Nerdy Book Club episode.
Elizabeth Ayoola:
Our next club guest is Jake Cousineau, author of How to Adult: Personal Finance for the Real World. The book offers tips to young people on how to get started with managing their money.
Sean Pyles:
To enter for a chance to win our book giveaway, send an email to [email protected] with the subject ‘book sweepstakes’ during the sweepstakes period. Entries must be received by 1159 P.M. Pacific Time on May 17th. Include the following information: your first and last name, email address, zip code, and phone number. For more information, please visit our official sweepstakes rules page. All right, now let’s get into this episode’s money question segment with our co-host, Sara Rathner, after a quick break, stay with us.
We’re back and answering your money questions to help you make smarter financial decisions. This episode we’re taking on a couple questions about cars, how to buy and sell them, and how electric vehicles fit in. And we’re joined by NerdWallet autos writer Shannon Bradley to help us navigate the winding roads of car buying in 2024. Shannon, welcome back to Smart Money.
Shannon Bradley:
Thanks for having me back. Let’s get to the first listener’s question. This comes from a voicemail.
Listener Voicemail:
Hello. The reason I’m calling is we were wondering what do you think about the company Carvana? We’re thinking about selling our vehicle to them because if we maybe try to sell it at a car dealership or something, we’re not really thinking that we’re going to get a good deal for it. But we don’t know as far as us selling a vehicle to them, not us purchasing one from them, if they’re reputable with regards to that. We’ve never used them.
Sean Pyles:
So Shannon, can you start by giving us a quick explanation of how Carvana works?
Shannon Bradley:
Yeah. Carvana is an online only car retailer and they sell and buy used cars only. They also take trade-ins. And based upon the listener’s question, I think the most important thing is that you can request an offer for your car right on the Carvana website as long as it’s a 1992 model or newer. And it’s a pretty simple process. They’re going to ask you for your 17 digit vehicle identification number, more commonly known as your VIN, or your license plate number. They’re going to ask you for mileage, the vehicle condition, vehicle options, and then if you have a loan or a lease on the car, they’ll ask you for information about that too.
Sara Rathner:
So other than Carvana’s iconic car vending machines that you see dotting the landscape in different cities, what makes it different from going to a dealership or to CarMax?
Shannon Bradley:
Well, let’s talk about CarMax first. CarMax is an online retailer too, and they’re very similar to Carvana. I think one of the biggest differences when you sell your car between the two is how you get your car to the retailer. With Carvana, you can finalize the entire sale remotely. They will come to your house, they’ll pick up your car, do the inspection there. You do have to be within one of their service areas, and there could be a small fee depending upon how far you are from their hub. CarMax, on the other hand, they offer pickup, but only at limited locations in four states.
So more than likely you’re going to have to take your car to a CarMax store for inspection. And depending upon where you live, that could be quite a distance. So if you compare these types of online retailers to a dealership, I think two of the biggest differences are convenience and being able to negotiate what’s offered for your car. Again, with Carvana, you can potentially complete the entire process of selling your car right from your home, but when you get an offer from Carvana or CarMax, it’s not negotiable. Whereas if you sell to a dealership, you can attempt to negotiate that offer.
Sean Pyles:
So car buying and selling is a notoriously frustrating process. Are there any common complaints about how Carvana handles this process that maybe are distinct from other ways of buying and selling a car?
Shannon Bradley:
On the selling side, I’m not aware of too many complaints. In fact, it was kind of funny, over the weekend I had a friend on Facebook ask this very question, and so I was monitoring responses of people and they were saying that it was a fast and easy process to sell their car to Carvana. On the buying side, I think the thing is, you have to remember that when you buy a car from Carvana, you can’t test drive it, you can’t inspect it. And on occasion, I’ve heard of people receiving a car that they didn’t feel really matched what was represented online. But I think the thing to keep in mind there is that Carvana offers a seven-day money-back guarantee with a limit of 400 miles. So when you get your car, just take that time to really test drive it and get a very thorough inspection done.
Sean Pyles:
So people go with Carvana because it seems like a really easy way to buy or sell a car and you can potentially just have the car dropped off at your front door. But that doesn’t mean that you still don’t have to do your due diligence and then get that inspection to make sure the car is as good as they are telling you it is.
Shannon Bradley:
Yes, exactly. They will allow you to, I think return up to three vehicles. There is some leeway there. And then the other thing that I was just going to mention, because I think a lot of people have heard about this because there was a lot of media coverage about it. This was in late 2022, early 2023, there was an issue with Carvana buyers. They would buy a car, they didn’t get their title in a timely manner, and so they couldn’t even register and drive the cars. And that’s something that our autos team has been monitoring. It doesn’t seem to be the issue that it has a year ago, but we still recommend for people to ask for proof of title. It’s just given that there were issues a year and a half ago, it’s just not a bad idea to do that.
Sara Rathner:
So our listener, like so many others, is interested in getting a good deal when selling their car. Do we know if places like Carvana offer better or worse deals than other places where you can sell your car?
Shannon Bradley:
Well, when you compare Carvana to CarMax, I’d say that’s kind of a toss-up. I think a lot depends on the vehicle you’re selling. Is it one that the retailer needs in their inventory at that time? And if it is, they may be more inclined to make you a better offer, but that’s why it’s so important to get more than one offer. And then you asked about dealerships. Traditionally you can get more selling your car to an individual, but of course that’s not going to be as easy as selling to someone who’s going to come right to your door and pick it up or even being able to go to the dealership down the road, but dealerships, their offers tend to be the lowest. But again, it depends on the car that you’re selling. Right now we’re seeing that both new and used cars are low inventory for Toyota. So if you have a type of car that a dealer is really needing on their lot, you may be able to negotiate a better deal.
Sean Pyles:
So the car market has been on a wild ride over the past few years, really since the pandemic began. So what is the car market looking like right now both for buyers and sellers?
Shannon Bradley:
Well, I would say wild ride is kind of an understatement. As someone who’s been covering the car market for the last three years, it has been a wild ride. It is not back to where it was before the pandemic. But from a car buyer aspect, several things are improving. For one, inventory is returning to normal. And actually you have some auto manufacturers who have overshot and are overstocked and those particular manufacturers, they’re starting to offer incentives again. We’re hearing you may be able to negotiate below the manufacturer’s suggested retail price, which was really unheard of during the pandemic. And then on the downside, we all know how vehicle prices are still high. I think actually this morning I saw that the average transaction price for a new vehicle is still at $47,000. That’s not small change by any means.
Sean Pyles:
No, it’s a lot of money.
Shannon Bradley:
But you can find deals out there, especially if you’re flexible about what you’re buying. And then leasing has some good deals. And if you buy or lease an EV right now, you could qualify for the federal tax credit of up to $7,500 on top of the other incentives that are out there.
Sara Rathner:
So how about sellers in the current climate? How are things looking for people who are selling their car right now?
Shannon Bradley:
Well, I would say they’re not faring quite as well as the buyers. Depends on what you’re selling, but if you recall, during the pandemic the vehicle shortage meant that individuals were actually selling their cars for a lot more than they paid for them. And with car supplies returning to normal for most manufacturers, selling isn’t what it was during the pandemic. You shouldn’t anticipate a huge profit like we were seeing in the past several years, but you should expect to receive a fair price and you can do that by researching the current market value of your car.
Sean Pyles:
So how can people get the most money for their vehicle?
Shannon Bradley:
Well, I go back to research. Research is key. If I was selling my car right now, I definitely wouldn’t put all of my eggs in one basket. If you get only one offer, which is something a lot of people do, they just don’t want to take the time to get more than one offer, you won’t ever know if there was a better offer out there. And the thing is, nowadays, it’s easy to do your research. You have online pricing guides where you can find estimates like Edmunds or Kelley Blue Book. And as we’ve been discussing, you can request actual offers from sites like Carvana, CarMax or TrueCar. And there’s not any cost or obligation to do that. Something we recently launched at NerdWallet, we can also make an offer on your car. We now have NerdWallet Automotive and you can find that when you Google NerdWallet buy my car.
Sean Pyles:
Alrighty. Well now let’s turn to the next question, which comes from a listener’s text message. They wrote, what is the fuel of the future? I’ve been researching about buying a new car and they’re saying that cars in the future are going to be electric, but if there’s a new fuel of the future, should I just wait until the new fuel comes out or just buy an electric car now? So Shannon, if you don’t mind, please bring out your crystal ball or industry research and tell us is there a new fuel of the future or does it seem like electric vehicles are the automotive energy of the coming years?
Shannon Bradley:
Well, we’re hearing a lot about research of different alternative fuels like natural gas, propane, or hydrogen fuel cells, which is really just another way of generating electricity. But these are all really in their early stages of development and adoption. So while I think development of various ways to lower vehicle emissions will definitely continue, my crystal ball says that in the near future, the emphasis will still be on EVs.
Sara Rathner:
And is that because EVs have just been around longer and have an advantage in the market over these other fuel types?
Shannon Bradley:
Yes, Sarah, it is. Many people don’t realize that the first electric vehicles were actually introduced in the late 1800s, then they kind of fell by the wayside and interest renewed in the 1970s. So it’s actually taken a long time for us to reach a point where electricity is accepted as a fuel source as it’s becoming today. According to Kelley Blue Book, EVs represent the fastest growing car sales category, and last year nearly 1.2 million U.S. vehicle buyers went electric. We don’t expect that pace to slow down with federal and state legislation as well as so many car makers devoting many resources to the transition to EVs. I just don’t see a quick pivot to other fuel sources that are going to take more time to build that infrastructure and to build that adoption rate.
Sean Pyles:
So the EV market has been developing rapidly over the past few years, but many anxieties that would-be buyers might have around electric vehicles like range, affordability, finding chargers are pretty persistent. Have any of these issues gotten better?
Shannon Bradley:
They have gotten better. For comparison, before 2016, when you’re looking at range, the median range of a new EV was below 100 miles and the top performing option couldn’t travel 300 miles without a charge. Today you can buy an EV that has a 250-mile range for less than $40,000 and the high-end models can have a range of more than 400 miles per charge. When you’re talking about the charging infrastructure, that’s improving too. We now have about 60,000 charging stations across the country, and that’s more than twice the number that we had five years ago. And there are a lot of incentives out there to help with installing home chargers, like from some auto manufacturers or your local electric company.
Sara Rathner:
What about the price of these cars? EVs are generally more expensive than gas powered cars. Is this changing?
Shannon Bradley:
That’s improving too. I think the Tesla price drops have driven other car makers to follow suit. There are a lot of EV incentives out there to help reduce the cost. As I said earlier, you could qualify for the federal tax credit of up to $7,500 and that can usually be stacked with other incentives from car manufacturers, state and local government and electric companies. The U.S. Department of Energy actually has a site, you can find it by searching alternative fuels U.S. Department of Energy, that has a database where you can research all of the various incentives that are available. Late last year, I talked to someone who was an EV buyer in California and he used multiple incentives to knock $8,000 off the price of a Chevy Bolt. And then right now there are a lot of EV leasing deals, and that’s a great option if you’re someone who just isn’t sure that you want to go ahead and buy an EV right now.
Sean Pyles:
Okay. So Shannon, I have to ask you, as a consumer and also someone who writes about this stuff a lot, how are you thinking about electric vehicles? Have you made the jump or are you planning to?
Shannon Bradley:
I haven’t made the leap yet, but it isn’t because I don’t want one. I’m pretty frugal with my money and I bought a gas-powered car right before the pandemic, so I was able to buy it before car prices skyrocketed. And I’m in a fortunate position right now where I’m no longer supporting children. I was receiving, like everyone, stimulus funds during COVID, so I was able to pay down that car and I actually don’t have a car payment right now. I am environmentally conscious. So I think that eventually I will buy or lease an EV, but for right now, I’m enjoying taking a vacation from car payments and putting that money into my retirement savings.
Sean Pyles:
Well, that does sound like a very smart financial decision. I’ll say that. Well, Shannon, thank you so much for joining us on Smart Money.
Shannon Bradley:
Well, thanks for having me.
Sean Pyles:
And that is all we have for this episode. Remember, listener, we are here for you and your money questions. So if you have anything that you want the Nerds to help you out with, call us or text us on the Nerd hotline at (901) 730-6373. That’s (901) 730-N-E-R-D. You can also email us at [email protected]. Also visit nerdwallet.com/podcast for more info on this episode. And remember to follow, rate and review us wherever you’re getting this podcast. This episode was produced by Tess Vigeland who also helped with editing. Sara Brink mixed our audio. And a big thank you to NerdWallet’s editors for all their help.
Sara Rathner:
And here’s our brief disclaimer, we’re not financial or investment advisors. The nerdy info is provided for general educational and entertainment purposes and may not apply to your specific circumstances.
Sean Pyles:
And with that said, until next time, turn to the Nerds.
Despite the obvious appeal of side hustles — more money! — they’re not for everyone. If your side hustle makes you stress out, neglect relationships, or miss opportunities at your day job, then consider it a bad idea. Side hustles are only beneficial when they help you accomplish goals without sacrificing what matters most.
Side hustles are often promoted as a simple way to generate extra cash or fulfill your passions. However, the often-ignored price tag is physical and mental strain. Not to mention the time requirement and potential financial commitment necessary to get a gig going.
Read on to find out how to evaluate your options and goals before taking on a side hustle.
Check your score with SoFi
Track your credit score for free. Sign up and get $10.*
What Is a Side Hustle?
A side hustle refers to a second job or source of income that people pursue outside their primary employment. The purpose may be to earn extra money, pursue a pet project, or develop skills in a different area.
A side hustle can take various forms, from freelance work or consulting to selling handmade crafts or driving for a rideshare service. Renting out property and offering tutoring services also qualify. The point is leveraging your time and skills to pad your budget or explore a wider field than your day job allows. 💡 Quick Tip: We love a good spreadsheet, but not everyone feels the same. A free budget app can give you the same insight into your budgeting and spending at a glance, without the extra effort.
Pros and Cons of a Side Hustle
Browse the pros and cons below, and make a mental note of how many of each apply to your situation. If one side of the scales is considerably heavier, your decision may be obvious.
Pros of a Side Hustle
Here’s a breakdown of the benefits of a side hustle:
• Develop Your Career: Side hustles can provide a valuable opportunity to develop skills, gain experience, and broaden your professional horizons. By taking on projects or roles outside your main job, you may acquire new competencies to help advance your career or get a promotion. Additionally, side hustles can demonstrate initiative, entrepreneurial spirit, and versatility to potential employers, enhancing your marketability and opening up new opportunities.
• Switch Up the Norm: A side hustle allows you to break away from the routine of your primary job. This variety can be refreshing and stimulating, helping to prevent boredom and burnout. Whether you’re pursuing a different passion, exploring a new industry, or experimenting with creative projects, having a side hustle can inject excitement and fulfillment into your life outside work.
• Build Your Network: Side hustles often involve interacting with different people and communities, which can expand your professional network. Whether you’re collaborating with clients, partners, or fellow freelancers, each connection presents an opportunity to exchange ideas, learn from others, and potentially uncover new career prospects. Building a diverse network through your side hustle can provide valuable support, mentorship, and referrals in your professional journey.
• Channel Creativity: Side hustles offer a platform for expressing your creativity, passions, and interests outside your primary job. Whether it’s writing, photography, crafting, or any other form of expression, a side hustle can bring more meaning and fulfillment than your 9-to-5. This outlet can serve as a source of inspiration, relaxation, and personal growth, enriching your life beyond the confines of your main occupation.
• Increase Income: One of the most practical benefits of a side hustle is the extra money. Whether saving for a major purchase, paying off debt, or simply seeking financial security, the income from your side hustle can provide greater financial flexibility and stability. Likewise, having multiple streams of income can be a buffer against economic uncertainty and provide a safety net in case of job loss or another hardship.
Cons of a Side Hustle
On the other hand, these are the potential drawbacks of a side hustle:
• Less Time to Relax: Side hustles require time and effort, eroding your leisure time. Working 60+ hour weeks can lead to fatigue and even burnout. When juggling your day job, side hustle, and personal commitments causes you to lose sleep, your quality of life can become unsustainably low.
• Distraction from Work: A side hustle can encroach on your attention and focus during work hours. Constantly thinking about your other gig, responding to email, or taking calls while at your main job can detract from your performance. If colleagues or supervisors perceive your divided attention, this can also strain your professional relationships and undermine your credibility.
• Managing the Stress of Two Jobs: Managing the demands of a side hustle on top of your primary job and personal responsibilities can significantly increase stress. Deadlines, client expectations, financial pressures, and the need to constantly switch between different roles and tasks can elevate anxiety. Chronic stress associated with balancing multiple commitments can affect your mental and physical health over time.
• Sustainable Prices Can Be Elusive: Setting prices or negotiating rates for your side hustle services can be challenging, especially if you’re just getting started or dealing with imposter syndrome. Striking the right balance between competitiveness and fair compensation can be tricky, and you may encounter situations where clients or customers undervalue your work. Plus, breaking into a competitive market may require setting prices so low that you work at a loss for the first few months or even years. As a result, your side hustle may ding your budget instead of adding to it.
💡 Quick Tip: An online money tracker makes monitoring your spending a breeze: You can easily set up budgets, then get instant updates on your progress, spot upcoming bills, analyze your spending habits, and more.
When Does a Side Hustle Make Sense?
Several ingredients are key for a side hustle to make sense for your situation. First, it’s essential to have a clearly defined reason for pursuing a side hustle. For example, you may want to generate income, follow a creative impulse, or pave a path to a new career. This clarity of purpose will guide your efforts and motivate you throughout your side hustle journey.
Second thorough research is crucial to understanding the market, demand, competition, and potential challenges associated with your chosen side hustle. This is significant even if you don’t have financial aspirations for your other gig.
For example, if you’re interested in fitness, is your specific angle better suited for a blog or a YouTube channel? Will you create a social media presence to drive more traffic? What kind of value are you delivering to your audience?
In a different vein, if you want to become a rideshare driver, which company offers the best pay? Do you have a presentable vehicle that you’re willing to put miles on? Answering these kinds of questions will help you make informed decisions and set realistic expectations. Not doing your homework will likely bring a lack of results, monetary loss, and frustration.
Next, understand the time commitment your side hustle will require. For instance, a few hours of woodworking on the weekend is less demanding than taking a constant flow of orders on Etsy. If your schedule is already full to the brim from your primary job, family responsibilities, and personal pursuits, incorporating a side hustle can do more harm than good. Even if you work a side gig with your significant other, it’s not the same as spending quality time together.
Finally, your side hustle should fit into the larger picture of your goals and values. For instance, you might start a side hustle in order to build a $5,000 emergency fund. Or you could take a software engineering course in the evenings that will help you eventually switch careers. In any case, your side hustle should have specific benefits and point toward a defined objective. Otherwise, you’ll burn time without accomplishing much.
The Opportunity Cost of a Side Hustle
The “opportunity cost” of a side hustle depends upon the resources you invest. When you dedicate yourself to anything, you lose opportunities to engage in leisure activities, spend time with family and friends, and take vacations. In essence, the opportunity cost of a side hustle equals the value you place on other aspects of life that matter most.
Also ask yourself what is the financial cost of your side hustle? You might have to invest money to purchase materials or pay for marketing. You might also give up overtime at your primary job. That’s cash that could go into savings, investments, or paying off debt.
Likewise, your time could be going into skill development for your day job, leading to promotions or raises. Plus, your employer might sponsor specific types of professional development, resulting in free training that moves your career forward and increases your salary.
Ultimately, the opportunity cost of a side hustle varies depending on individual circumstances, goals, and priorities. It’s essential to carefully consider these factors and assess how the benefits of the side hustle compare to the time and money.
Examples of Side Hustles
While there are unusual ways to make money, side hustles are typically more accessible. Here are some side hustles that match with a range of backgrounds and skill sets:
• Freelancing: Offer services such as writing, graphic design, programming, bookkeeping, and more. You’ll take projects on a contract basis with multiple clients.
• Dog Walking: Providing exercise and companionship for dogs by taking them on walks on a regular or as-needed basis.
• Blogging: Creating and maintaining a consistent feed of valuable written content on a topic you love or have expertise in. Find out how much it costs to start and run a blog.
• Non-Medical Senior Care: Assisting elderly individuals with daily tasks (shopping, bathing, housework, etc.) and providing companionship to support their wellbeing.
• Babysitting: The tried-and-true income-generator for teenagers and adults alike. You’ll care for children in the evenings and on weekends when parents are busy or need a break.
• Personal Assistant: Providing administrative support and assistance to individuals or businesses. You’ll manage schedules, run errands, and handle correspondence. You can also be a virtual assistant and provide numerous essential services (bookkeeping, arranging travel, etc.), therefore creating a side hustle from home.
• Handyman: Offering services to repair, maintain, and improve residences. You can specialize in one or more areas: plumbing, electrical work, carpentry, or general home tasks.
• Crafting: Creating handmade goods and artwork, such as jewelry, clothing, and home décor, to sell online or at craft fairs.
• Cooking/Baking: Crafting you can eat! Get to work in the kitchen to make treats, desserts, or meal kits for sale.
• Private Tutor: Providing personalized academic instruction to students in a particular subject or skill, often on a one-on-one basis.
• Self-Publishing: Writing and publishing books or other written works independently, without the involvement of traditional publishing companies. Self-publishing is inexpensive because your work will be accessible as an ebook.
• Teaching Online Courses: Creating and delivering educational courses or tutorials on a specific topic via online platforms is another side hustle from home.
• Product Tester: Testing and reviewing products or services for companies or brands, often providing feedback and insights based on personal experience.
• E-Commerce: Selling products or services online through a website or online marketplace, which may involve sourcing or creating products, managing inventory, and handling customer inquiries and orders.
When Is a Side Hustle Not Worth It?
A side hustle may not be worthwhile because of the toll on your physical, mental, and financial wellbeing. Here are more specific ways that a side hustle can negatively impact your life:
• Burnout: Working an 8-hour job and dedicating 2 to 4 additional hours per day to your side hustle leaves little room for anything else. The demands of a side hustle can result in excessive stress, fatigue, and burnout.
• Missed Career Advancements: Devoting significant time and energy to a side hustle may detract from opportunities for advancement in your primary job. They can also keep you from visualizing a sustaining career. So if you’re in a job you don’t like, a side hustle can act as a bandage instead of a cure. It’s advisable to focus on switching vocations instead of supplementing your income through another unsatisfying side job.
• Unhealthy Lifestyle Habits: A demanding side hustle may lead to poor eating choices due to lack of time for meal prep, insufficient exercise, and disrupted sleep. Over time, these habits damage physical health and overall quality of life.
• Strained Relationships: Spending excessive time on a side hustle can strain relationships with family, friends, and romantic partners. Missing significant events or quality time with loved ones due to work commitments can lead to feelings of resentment and isolation.
• Financial Costs: Some side hustles require upfront investments of time and money, for purchasing inventory or equipment, marketing expenses, or training courses. If the return on investment does not justify these costs, the side hustle may not be financially sustainable in the long run.
• Not-So-Passive Income: Many side hustles require active participation and ongoing effort to generate income, which can limit scalability and long-term earning potential. Without the ability to create passive income streams, you’ll constantly trade time for money without achieving financial freedom.
• Neglecting Personal Growth: A side hustle that consumes all available time and energy may leave little room for hobbies or other interests. Over time, this can lead to stagnation and dissatisfaction with your lifestyle.
Side Hustle Tips
A side hustle can quickly get out of hand or detract from your life if you’re not careful. Here’s how to create a practical side hustle that serves your needs:
• Start Small: When beginning a side hustle, starting with manageable tasks or projects that don’t require a significant investment of time or resources is wise. Starting small allows you to test the waters, gain experience, and assess the viability of your chosen side hustle without taking on too much risk. As you gain confidence and experience, you can gradually expand and scale your side hustle over time.
• Play to Your Strengths: Identify your special skills, interests, and areas of expertise, and leverage them in your side hustle. By focusing on activities that align with your strengths, you’re more likely to enjoy the work, excel at it, and differentiate yourself from competitors. This approach also allows you to maximize your earning potential by offering high-value services or products that cater to a specific niche or market. Remember, this doesn’t mean you must stick to your current skill set. Your interests and abilities can also lead you to pick up new skills.
• Maintain Your Performance at Work: Balancing a side hustle with a full-time job means prioritizing high performance and professionalism in your primary job while pursuing your side hustle. To that end, it’s recommended to set boundaries for the time you dedicate to your side hustle and to manage your schedule efficiently. By maintaining your performance at work, you can preserve your job security and opportunities for advancement.
• Aim at a Goal Instead of a Job: Instead of treating your side hustle as just another job, set out to achieve specific goals or milestones that align with your long-term aspirations. Whether your goal is to generate additional income, pursue a passion project, or transition to full-time entrepreneurship, having a clear vision and purpose for your side hustle will keep you motivated and focused on what truly matters to you. By focusing on goals rather than simply exchanging time for money, you can create a more fulfilling and meaningful side hustle.
The Takeaway
Side hustles can be a bad idea when they damage your quality of life. While picking up a side gig can create more income, this result must be weighed against other priorities, including advancement in your day job, time dedicated to relationships, and alternatives that slowly but surely create passive income.
Asking yourself whether a side hustle is a good move might not be the most relevant question. Instead, you can ask yourself if a second job makes sense after developing a clear vision of the future.
Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.
See exactly how your money comes and goes at a glance.
FAQ
Are side hustles risky?
Side hustles can be risky because of the opportunity cost of picking up extra work. Specifically, a side hustle can drain time and financial resources, add unmanageable stress to your life, and lead to worse quality of life because of the sacrifices required to work a second job. As a result, it’s essential to evaluate your circumstances and identify your goals before starting a side hustle.
Are side hustles a waste of time?
Side hustles can be an excellent way to generate more income, develop yourself professionally, or transition to a different career. However, they can also be a waste of time if you don’t set goals and create a realistic plan when starting. So a carefully planned side hustle that fits into the larger picture of your life can provide massive benefits, while picking up more work to simply stay busy can lead to missed opportunities in your professional and personal life.
Is starting a side hustle really worth it?
Starting a side hustle can be worth it for additional income, pursuing passions, or expanding your skill set. However, it requires careful consideration of the potential drawbacks, such as time constraints, increased stress, and the risk of hindering career advancement. Ultimately, the value of a side hustle depends on your aligning it with personal goals, managing resources effectively, and maintaining a healthy work-life balance.
Photo credit: iStock/JLco – Julia Amaral
SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.
*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Do you want to learn how to make $10 a day? Whether you want to make an extra $10 every day or if you just need an extra $10 fast right now, you have options. Plus, if you are looking to make $10 a day every day, this is about $300 each month or $3,650…
Do you want to learn how to make $10 a day? Whether you want to make an extra $10 every day or if you just need an extra $10 fast right now, you have options.
Plus, if you are looking to make $10 a day every day, this is about $300 each month or $3,650 extra each year!
Surprisingly, you might not need to spend much time to reach this goal – maybe just an hour or less each day. The great thing about this is that many of the ways mentioned below are flexible and can be done on your own schedule.
Whether you work full-time, stay home with kids, or have a packed student schedule, there are lots of ways to make that extra $10. And even though $10 may seem small, if you do it every day for a month, it adds up to a few hundred dollars, which can be a big help for your budget or savings.
Getting some extra money can be easy by using what you already have online. You don’t need a second job to make $10 more each day. There are lots of online ways to do this. Maybe you want more money or just some spending cash without working a lot. Either way, you can find ways to meet your money goals.
Recommended reading: How To Get $20 PayPal Now
Best Ways To Make $10 a Day Fast
Below are the best ways to make $10 fast.
1. Paid online surveys
Earning $10 by taking surveys is a real possibility and a simple way to make money from home. Some survey companies will even give you $5 or $10 just for signing up and becoming a new member.
When I was repaying my student loans, I filled out surveys every week. I did this before work, during lunch, or after work. It was easy because I could do it whenever I had some free time and could do it on my own schedule. I enjoyed doing them because it was super flexible and would earn me some extra money without any physical labor or really even any brain power.
Survey companies pay you for answering surveys, watching videos, and trying out products. Sometimes, they might even send you free products to test. The best part is, signing up with these companies is completely free!
The paid online survey companies I recommend include:
These survey websites typically give out rewards as cash deposited into PayPal accounts or as free gift cards for places like Amazon.
2. Start a blog
Starting a blog is a creative way to make $10 a day.
Starting a blog won’t immediately earn you $10 a day because it takes time to set up. However, with time and effort, bloggers can usually start earning at least $10 a day in the future.
A blog is a website that contains articles, similar to what you’re reading now. You can start a blog on many different niches and topics like personal finance, recipes, travel, pet care, family life, and more. There are many different kinds of blogs available on the internet.
You can earn money from a blog by teaming up with companies for sponsorships, displaying ads, doing affiliate marketing (such as promoting products from Amazon), and selling items like ebooks, candles, T-shirts, and more directly on your blog.
This is how I make money online, earning well over $10 a day. It took me about 6 months to make my first $100 with my blog, so getting started does take time. It took around a year to reach about $5,000 a month and approximately 2 years to reach $10,000 a month.
You can learn how to start a blog with my free How To Start a Blog Course (sign up by clicking here).
3. High-yield savings accounts
A high-yield bank account is a low-risk way to earn extra money. These accounts offer a higher interest rate than regular savings accounts, so your money grows faster.
While you might not earn $10 every day from a high-yield savings account, it’s quite easy to earn $10 or more over time. You can then stack this with other methods to make $10 every day or $300 a month.
I personally use Marcus by Goldman Sachs because they have a very high interest rate. At the time of this writing, you can get up to 5.40% through a referral link bonus. So, if you have $10,000 saved, you could earn $540 in a year with a high-yield savings account like this. In comparison, with normal banks, your earnings would only be around $50 for the same amount saved.
4. Sell printables on Etsy
One way to make $10 a day from home is by selling printables on Etsy. Printables are digital products that buyers can download and print at home. Think planners, art, or even educational materials.
You have probably used printables in your life, just like most people have. I purchase printables all the time because they make my life much easier. It’s convenient to print things out and have them readily accessible when needed. I recently downloaded a digital printable that is a calendar of new activities to do with my toddler, in fact. (It has a specific new activity to do each day for her age group.)
You can learn more at How I Make Money Selling Printables On Etsy.
Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
5. Mystery shopping
Mystery shopping can be a fun way to earn money. If you enjoy shopping and going out, this option can help you make $10 a day.
Companies hire mystery shoppers to visit stores and behave like regular customers. You’ll make purchases, ask questions, and then give feedback on your experience.
Secret shoppers evaluate places like restaurants, stores, car dealerships, banks, and more.
My favorite mystery shopping company that I have personally used is BestMark. There are many other good mystery shopping companies as well.
I have mystery shopped a lot over the years. At one point, I was earning around $150 to $200 a month from it, as well as getting free restaurant meals, free retail items, and more. Most of the shops were very easy to complete and I could do them on my own schedule.
6. Get a raise at work
If you’re wanting to increase your daily earnings by $10, asking for a raise at your current job can be a great strategy as you would be simply continuing the job you already have and not having to find a second job.
Start by evaluating how your skills and experience contribute value to the company. Are you taking on additional responsibilities? Have you achieved any big goals or improved anything at work lately?
Remember, timing is everything when it comes to asking for a raise. I recommend setting up a private meeting with your boss to talk about your raise and make sure it’s a calm period in the work cycle, not the middle of a big project or problem.
Then, during your meeting, be direct about your request and explain how your hard work deserves additional compensation and talk about the value you bring to the company.
7. Answer questions in a focus group
Joining a focus group is a great way to earn $10 quickly, or potentially more! Now, you typically won’t be able to make $10 every single day with a focus group because they are more limited in availability, but you can make well over $10 in a single day with them.
A focus group is a small gathering of people who share their opinions about new products or services. Companies use these insights to improve their offerings.
I have participated in a focus group that paid me approximately $400 for just 75 minutes of my time. While this payment was higher than usual, most focus groups typically pay anywhere from around $50 to over $100 per hour. The amount you get paid can vary greatly depending on the length and topic of the study, but there are certainly studies that offer higher compensation than others.
One focus group company that I recommend joining is User Interviews.
10
User Interviews pays very well for market research studies and these are some of the highest paying online surveys, with each paying $50 to $100 or more. The average pays over $60.
8. Donate plasma
Donating plasma can earn you between $20 to $50 each time you donate, and you can earn up to $300 a month if you donate regularly.
Plasma is the liquid part of your blood, and it’s in high demand for medical treatments. Your plasma can help individuals with immune deficiencies, bleeding disorders, and other health problems.
The process is similar to donating blood, but it takes a bit longer – usually about an hour. You’ll be comfortably seated during the procedure, and a machine will take your blood, separate the plasma, and return the blood cells to your body.
Typically, you can donate plasma twice a week. Most donation centers require a 48-hour gap between sessions to make sure that your body has time to recover.
Recommended reading: How to Make Money in One Hour: 15 Real Ways
9. Food delivery
If you want to make an extra $10 a day, food delivery is a good choice. It’s a flexible way to earn cash by helping people get their meals delivered right to their doorstep. With apps like Uber Eats, DoorDash, and Postmates, you can sign up and start delivering right away.
When you choose to be a food delivery driver, you work on your schedule. All you need is a reliable way to get around, like a car, bike, or scooter, and a phone. The exact amount you’ll make can depend on the time of day, your location, and how many orders you take.
Typically, you receive more than $5 for each delivery. Plus, customers may tip you for your service as well.
Recommended reading: How To Make $5 Fast
10. Deliver groceries
If you’re looking for a way to make an extra $10 a day, delivering groceries might be the perfect side gig for you. With many people busy or preferring to stay home, you can help by bringing their food shopping right to their doorstep.
Popular apps like Instacart and Shipt are always looking for shoppers. You’ll need to meet some basic requirements, like having a car and a phone. After you’re approved, you can start to accept delivery jobs through the app.
You can choose when you want to work. Maybe it’s after your day job or just on weekends. Each trip to the store and delivery earns you money, and you can see your earnings add up with every order you complete.
I have ordered groceries through Instacart many times when I’m too tired to shop, when I’m on vacation and want groceries delivered straight to the vacation home, and when I’m running low on time at home. It is a great service to have!
11. Transcribe
Transcribing is when you get paid to type out what you hear, and it’s a way to make $10 a day if you have a good ear and can type fast.
Transcription jobs are found online and offer flexible schedules. To start, you’ll need a computer and a solid internet connection.
As a beginner, you can earn around $15 an hour, but with more experience, that number can go up.
Recommended reading: 18 Best Online Transcription Jobs For Beginners To Make $2,000 Monthly
10
In this free training, you will learn what transcription is, why it’s a highly in-demand skill, who hires transcriptionists, how to become a transcriptionist, and more.
12. Freelance on Fiverr
If you’re looking to earn an extra $10 a day, Fiverr is a platform to try out if you want to freelance.
Fiverr lets you sell skills you’re good at, such as graphic design, data entry, social media management, writing blog posts for others, and more. You can sell thousands of different kinds of freelance gigs, and you can make your service as customized as you want.
I have freelanced a ton over the years, and it’s a great way to make money from home without having to pay anything to get started. You just need your skills and time!
13. Walk dogs
If you love dogs and want to learn how to make $10 a day (or more) without paying, then walking dogs is a side hustle you can easily get started with.
Dog walking apps like Rover help you to list your dog walking services. This is an in-demand service where you may be able to earn $15 to $30 an hour walking dogs.
Once you’re signed up on a dog walking platform, you’ll get alerts for dog walking jobs in your area. You can choose the ones that fit your schedule. A typical session lasts about 30 minutes, and you might walk one or more dogs during this time.
If you have the chance to walk multiple dogs at once, then you may be able to earn more money by aligning many dog walking gigs at the same time. Some clients do pay more for their dog to be walked alone if that’s what they want.
I have two close family members who are dog walkers and they both really love it!
14. Invest in stocks for dividends
If you’re looking to make some extra money daily, you can try dividend stocks. These are shares of companies that give you money back, called dividends, just for owning them. This is like getting a “thank you” for investing in the company.
To make $10 a day, you’d need to earn around $300 a month from dividends.
Dividends work by paying shareholders a portion of a company’s earnings per share of stock they own. For example, if you own 10 shares of Company ABC and they pay $5 in cash dividends per share each year, you will receive $50 in dividends annually. Dividends are usually paid on a monthly, quarterly, or yearly basis, with quarterly payments being the most common (four times a year). In this scenario, the $5 in cash dividends per year would likely be distributed as $1.25 per quarter for each share of stock you own.
Recommended reading: What Are Dividends & How Do They Work? A Beginner’s Guide
15. Play games online
If you enjoy playing games, you can actually make money from it! While you might not consistently earn $10 every day, you can likely make $10 occasionally by doing something in your spare time.
Game apps can pay you real money because they generate revenue from ads and in-app purchases. They then share a portion of their earnings with players to keep them engaged and playing their games.
Here is a quick list of popular online game platforms that offer real cash rewards:
Swagbucks
KashKick
InboxDollars
9
Swagbucks is a site where you can earn points for answering surveys, shopping online, watching videos, using coupons, and more. You can use your points for gift cards and cash.
16. Sell things you no longer need
A simple way to earn $10 quickly (or even more) is by selling items you no longer need around your home.
Everyone has things like old books, clothes, unused gift cards (to many places such as Walmart, Starbucks, Target, Amazon, and more), or electronics that they no longer use. Selling these items can help you make money fast.
You have several options for selling your old stuff, like eBay, Facebook Marketplace, Mercari, Craigslist, or even holding a garage sale at your home.
17. Charge scooters
If you’re looking to make an extra $10 each day, then you may be able to find a side gig as a scooter charger for companies like Lime or Bird. These companies pay individuals to pick up, charge, and redeploy their electric scooters around the city.
You can get started by signing up on the company’s website by submitting your name, email, and location. You’ll need to download an app that will guide you to scooters needing to be charged.
Typically, a single scooter gives you around $3 to $5 once fully charged. It might sound small, but charging just a couple of scooters can quickly add up to your $10 daily goal.
18. Babysit
Babysitting is a popular way to bring in some extra cash. If you enjoy spending time with children and have some free hours, this could be a smart pick for making $10 a day or even more.
On average, you could earn between $15 to $25+ per hour for watching kids. The rate might go up if you’re taking care of more than one child or if the children need special attention.
Jobs can range from a couple of hours after school to full days. This makes babysitting a flexible job that can fit into your schedule.
19. Sell on Amazon
If you’re looking to make some cash each day, you might try selling retail items on Amazon. Amazon’s Fulfillment by Amazon (FBA) program can be a great way. You send your products to Amazon, and they handle shipping and customer service for you.
Here’s a quick start guide:
Sign up – Creating an Amazon seller account is your first step. It’s pretty easy and you can do it online.
Choose your products – Find items you want to sell.
List your items – Describe what you’re selling, add pictures, and set your price. Make sure it looks good so people want to buy it.
Ship to Amazon – Box up your items and send them to an Amazon warehouse.
Sell and earn – Once your products are listed, you can start making sales. Amazon gives you a part of the sale price, and that’s how you make your money.
If you want to learn more about starting an Amazon business, I recommend signing up for this free training that will teach you how to sell products on Amazon and make $100 to $500 per day.
20. Rent out your storage space
If you have unused space in your home like a closet, garage, or even a spare bedroom, you can turn it into money! Yes, by renting out your storage space, you could easily make a payout of around $10 a day or $300 a month without much work.
A site to use to rent out your space is Neighbor.
Frequently Asked Questions
Below are answers to common questions about how to make $10 a day fast.
How can I make $10 a day?
You can make $10 a day by doing small freelance gigs, completing online surveys, or selling items that you no longer need. Another way could be to save your spare change from everyday purchases (such as with the Acorns app).
How to make $10 an hour online?
You might be able to earn $10 an hour online by selling virtual assistant services, content writing, graphic design, or tutoring through platforms made for freelancers. Your hourly rate will depend on the skills you have and the demand for them.
How to make $10 a day for free? Can I make $10 daily without any upfront investment?
Making $10 a day for free is possible through apps that reward you for participating in surveys or completing certain tasks, freelancing services like writing or virtual assisting, and walking dogs. You can learn more about this at 22 Ways To Make Money Online Without Paying Anything.
How can kids make $10 each day?
Kids can make $10 a day by doing chores for neighbors (such as by going around the neighborhood and seeing who needs their lawn cut or leaves raked), setting up a lemonade stand, or pet sitting. It’s great for teaching them about the value of work and earning at a young age.
How To Make $10 a Day – Summary
I hope you enjoyed this article on how to make $10.
There are many ways to make an extra $10, whether you need $10 right now or if you want to make $10 each day.
Making an extra $10 can be helpful, whether you have a full-time job, are a stay-at-home parent and just need to make a little extra money, or whatever else.
If you like sharing your thoughts, you can make money doing online surveys. If you’re good at crafts and art, selling printable designs on Etsy could be a good fit. For those who love pets, walking dogs using apps can bring in extra cash. And if you prefer working at night, you can offer your skills on freelance websites after the day is over to make that extra $10.
These little bits of money each day can add up and give your budget more room to move each month.
Are you looking to learn how to make $10 a day or fast?
If you’re running a business, you probably know that managing cash is critical to your success — so let’s share some tips on doing that even better. Solid cash flow is vital to keep a business thriving, whether you’re a sole proprietor or the head of a larger enterprise. Even businesses with strong earnings can struggle with cash flow. That’s why cash flow can be a sure sign of how healthy a business is — or is not.
So let us help you optimize that cash flow. We’ll share some smart insights and helpful tips on:
• What cash management for business is
• Why it’s so important
• Ways you can improve your business cash management
Let’s get started.
What is Business Cash Management?
Simply put, business cash management is basically the way you track and manage the money coming into and going out of your business – usually on a cash flow statement. Positive cash flow means more money is coming in through revenues or borrowing than is being used to pay expenses, such as payroll and rent.
That said, good cash management also means not having too much cash on hand. In that scenario, business owners, while cautious, may be missing out on future earnings growth when they neglect to invest cash back into the business.
Here’s another way to frame this principle: Take a look at your business’s balance sheet and check the ratio of current liquid assets to liabilities. A ratio that’s greater than one indicates good health (you’re not losing money), but if that ratio gets too high, you could be holding onto too much cash or other assets that could better be invested elsewhere.
💡 Quick Tip: Help your money earn more money! Opening a bank account online often gets you higher-than-average rates.
The Importance of Cash Management for Businesses
Cash flow is the essence of all businesses. Without cash, a business will struggle to meet expenses, pay suppliers, repay any investors, and, often most importantly, grow the business through marketing and/or new opportunities.
Strong cash management strategies can help business owners avoid taking on debt. It also gives them more control over everyday activities, decisions, and growth opportunities. What’s more, smart cash management is the best way for owners to fulfill their vision for their enterprise while meeting both their short, intermediate and long-term needs. There’s certainly a lot riding on cash management, so let’s dive into ways to optimize it.
Get up to $300 when you bank with SoFi.
Open a SoFi Checking and Savings Account with direct deposit and get up to a $300 cash bonus. Plus, get up to 4.60% APY on your cash!
6 Tips for Managing Cash Flow
Cash management can be especially challenging for entrepreneurs and small business owners. Yet it is one of the most important financial strategies business owners must master. These six tips can help.
1. Learning Your Cash Flow Cycle
A cash flow cycle is the time it takes to purchase your supplies and materials (or prepare the work that goes into providing a service), transform them into a product, sell your offering, and collect payment that can go into your business bank account. Sounds simple but a lot can go haywire during that process.
That’s why it’s important for business owners to constantly update and monitor their balance sheets and profit and loss statements. Ideally, you want to know at any given time what happened in the cash-flow cycle last month. Also important: Knowing your projections for what’s going to happen next month.
Understanding your cash flow cycle can help identify and address inconsistencies such as a late-paying customer or a build-up of inventory. If your business is seasonal or cyclical, you want to be well-prepared for both the intensely busy times…and the lulls.
Recommended: How to Track Your Monthly Expenses: Step-by-Step Guide
2. Getting Payments on Time
Reminding customers to pay on time is one of the easiest but most necessary ways to manage cash flow. Late payments are a fact of life; common, even. Having receivables come in even a day or two past the due date can wreak havoc with your cash flow cycle and your bank account.
Consider setting up email reminders to all customers ten days, seven days, and two days before payment is due. Technology today makes it a snap to pre-schedule email blasts. If the payment is still late or only a partial payment was made, don’t hesitate to follow up with a personal note or phone call.
This simple solution can really work. Customers will pay more attention to timely payments when they know you are paying close attention.
3. Turning Over Inventory Quickly
Having an abundance of inventory on hand at a given time means that a bundle of cash is tied up in that unsold stock. That could be an issue, because those funds might otherwise be working to pay for operations and expenses. What’s more, if all of that inventory bought upfront doesn’t sell as expected, it could mean losses on top of that lack of cash. That could hurt your growth and business valuation.
Many small business owners have learned that, in terms of cash, it’s better to turn inventory more quickly. Of course, this will vary widely depending on your business – perhaps your product is handmade jewelry, perhaps its reconditioned air conditioners. As an example, you might want to boost inventory turn-over from twice a year to five times. More targeted marketing could contribute to this acceleration.
That said, finding the right inventory management to fit with your cash flow cycles takes some time and experience. Recent supply chain issues have shown how challenging inventory management can be. Again, constant monitoring of the cash flow cycle can help guide how you tweak things.
Recommended: How Much Does It Cost to Start a Business?
4. Understand Invoice Financing
Let’s say you hit a cash management hitch. If you do find yourself in a position where you have too much inventory on hand and you need cash to cover expenses, there is a path forward. Invoice financing companies will advance a full or partial amount of your outstanding invoices. You repay that amount plus interest after the invoice is paid.
This generally should only be considered as a stop-gap measure. Like credit cards, interest payments on invoice financing can add up fast and quickly get out of control. Consider the fact that annual percentage rates for invoice financing products can reach as high as a jaw-dropping 64%.
5. Cutting Costs
Monitoring and cutting costs on expenses is another tool for managing cash flow. After all, if less cash goes to pay overhead, more can be invested in the business. A few suggestions: Relying on online marketing efforts that can be less costly than traditional methods, outsourcing tasks that take too much time and money in-house, and reducing energy costs. You might also want to renegotiate outdated contracts and prices with suppliers. These are all areas business owners can consistently monitor to keep costs low.
💡 Quick Tip: Are you paying pointless bank fees? Open a checking account with no account fees and avoid monthly charges (and likely earn a higher rate, too).
6. Comparing Loans
Sometimes, a business could use a helping hand to smooth out its cash flow. Let’s say you have outstanding accounts receivable — in other words, you know money is due but you don’t have it yet — and you need the cash now. In this situation, taking a business loan can be an option to help bridge the gap.
Cash flow loans (like invoice financing explained above) are short-term loans or lines of credit. These are often used to cover expenses or to take advantage of opportunities that can increase revenue.
A working capital loan is another option that can be used to finance everyday business operations such as rent, payroll, or restocking inventory. These loans are not designed to finance long-term assets or investment. Companies with seasonal or cyclical sales often rely on working capital loans to provide relief during slow periods.
One caveat: Working capital loans are often tied to your personal credit, so missed payments or defaults will affect your credit score. Consider that carefully before you sign on.
In addition, there are a variety of small business loans available that are used to finance long-term expenses such as real estate, equipment purchases, or business expansion. These include SBA loans, business lines of credit, and term loans.
Whatever type of loan you choose, be sure to compare your options carefully. Look at terms, APR, and how much lending you qualify for among several lenders before taking on any short or long-term debt. Spending some time and energy on research will help ensure you get the right form of financing.
The Takeaway
Cash flow management is an essential part of running a successful business of any size. Carefully monitoring cash flow, and learning some simple strategies to maximize it can take your small business to the next level.
Whether your business is a full-time job or just a side gig, it’s important to keep your business cash flow separate from your personal cash flow. In both cases, you’ll want to find a bank account that pays a competitive rate, charges no or low fees, and makes it easy to access your money.
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.
Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall. Enjoy up to 4.60% APY on SoFi Checking and Savings.
Photo credit: iStock/AlexSecret
SoFi members with direct deposit activity can earn 4.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a deposit to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate.
SoFi members with Qualifying Deposits can earn 4.60% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant.
SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.60% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.
SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.
Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.
Interest rates are variable and subject to change at any time. These rates are current as of 10/24/2023. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Our account fee policy is subject to change at any time. Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Want to learn how to make money online without paying anything? Here are ways to earn money online for free. Making money online without putting in money up front is doable for many people. Thanks to the growth of online jobs and businesses, you can make extra money or create a full-time job from home….
Want to learn how to make money online without paying anything? Here are ways to earn money online for free.
Making money online without putting in money up front is doable for many people. Thanks to the growth of online jobs and businesses, you can make extra money or create a full-time job from home.
It doesn’t matter if you’re skilled or just getting started – there are ways to make money without paying anything at the beginning. You can use your creativity and skills in things like making content, providing digital services, and selling stuff online to make a steady income.
I personally have made money online in many different ways without paying anything to get started, so I know that this truly does exist.
Best Ways To Make Money Online Without Paying Anything
Here’s a quick summary of my favorite ways to make money without investment:
Best way to make money online freelancing – Proofreading
My favorite way to make money online for free – Blogging
Best way to make money online for passive income – Selling printables
Best way to make money online for those who like numbers – Bookkeeping
Below are the best ways to make money online without paying anything.
1. Blogging
Blogging is exactly what I started years ago, and I didn’t pay any money in the beginning to get started.
If you want to make money with a laptop, then this is what I recommend.
I began Making Sense of Cents in 2011, and it has helped me earn over $5,000,000 since then. I started my blog on a whim to share my own money journey, not even knowing that people could make money from blogs or how to make a successful one.
Now, it’s my full-time job!
Eventually, you will have costs with a blog, just like with most of the businesses listed below, if you want to grow and make more money. But, the expenses are low compared to how much money you may be able to make.
So, what’s a blog? A blog is like this content you’re reading now – it’s writing on a website. You can blog about something you’re passionate about, something you know a lot about, or even something you want to learn more about (people enjoy following firsthand journeys!).
There are many different niches (topics) that you can write about too, such as travel, personal finance, home, lifestyle, family, food, and more.
You can learn how to start a blog with my free How To Start a Blog Course (sign up by clicking here).
10
Want to see how I built a $5,000,000 blog?
In this free course, I show you how to create a blog, from the technical side to earning your first income and attracting readers.
2. Printables
Selling printables is a way to make passive income from home without upfront costs.
This is because printables are digital files that you can download and print at home. You only need to make one digital file for each product, and then you can sell it multiple times.
They can be things like grocery shopping lists, invites, thank you cards, digital art, or gift tags.
I have bought many printables myself, and many others do too. Recently, I purchased a printable to help teach my daughter the alphabet. It was a useful tool, and I could easily print it at home.
You can learn more about this at How I Make Money Selling Printables On Etsy.
Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
3. Proofreading
If you like finding mistakes in written content and want to start a business without spending a lot of money, then proofreading might be a good choice for you. This can be a part-time job or a full-time career working from home.
Many proofreaders earn around $40,000 a year or even more.
Proofreaders look for errors in articles, ads, books, student papers, emails, transcripts, and more.
To become a proofreader, all you need is a laptop or tablet, an internet connection, and the ability to spot mistakes and errors. So, you probably already have everything you need to get started.
I recommend signing up for a free 76-minute workshop, where you can learn more about becoming a proofreader. You can sign up for the free How To Become a Proofreader workshop here.
Recommended reading: How To Become A Proofreader And Work From Anywhere
10
This free 76-minute workshop answers all of the most common questions about how to become a proofreader, and even talks about the 5 signs that proofreading could be a perfect fit for you.
4. Freelance writing
Freelance writing is a great way to make money online without any upfront costs, as you don’t need any expensive equipment to get started.
A freelance writer is someone who writes for different places like websites, blogs, magazines, ads, books, and other things.
I have been a freelance writer for many years now, all from my laptop. I really enjoy being a freelance writer, and I have many friends who do this as well. I started this job because I wanted to make money from home and not spend money trying to figure it out. And, it worked!
This job can earn you more than $50,000 a year. Some of my friends who are freelance writers make over $200,000 a year.
Recommended reading: 14 Places To Find Freelance Writing Jobs
5. Opening an online store
Starting an online store is a way to make money without upfront costs, and sites like Etsy and Shopify make this possible.
On Etsy, you can sell things like handmade or vintage items and craft supplies. This online marketplace is great if you’re creative and want to sell unique, one-of-a-kind products. Shopify, on the other hand, has more flexibility in what you can sell and allows you to build your personal storefront.
There are many different types of things you can sell, such as digital products like ebooks or web design templates, which don’t require inventory and can be sold repeatedly without additional cost. Physical products, on the other hand, can also be sold but keep in mind that you’ll need a plan for shipping, and you may have to spend money in order to have them as inventory to list on your store.
Another idea is dropshipping. This is a business model where you don’t need to keep inventory or ship products yourself. Instead, you work with suppliers who take care of inventory and shipping for you.
Below are some ideas for things you could sell through an online dropshipping store:
Travel items such as portable luggage scales, neck pillows, or travel cubes
Fitness equipment like yoga mats, weights, or resistance bands
Sustainable products such as reusable utensils, bamboo toothbrushes, tote bags, or eco-friendly cleaning supplies
Camping-related items like hammocks, lanterns, cookware sets, and survival kits
Jewelry such as stackable rings, layered bracelets, anklets, and statement earrings
6. Print-on-demand
Similar to the above, print-on-demand (POD) is a business model where you sell your custom designs on products like T-shirts, mugs, and books, but only print them once an order is placed.
It’s a popular way to start an online business with minimal upfront costs because you don’t have to worry about inventory. Your job is to create the designs and set up your online store.
Once a customer buys a product, the order goes straight to your POD supplier who prints and ships it under your brand name.
7. Stock photography
Stock photography is a way to make money online without any cash up front. If you already have a camera or even just a cell phone, you can get started selling stock photographs.
You are simply taking photos, putting them on a stock photo website, and selling them to people and companies.
People buy stock images from websites like Shutterstock, Getty Images, or Adobe Stock for many reasons, such as adding them to their websites, articles, blog posts, advertisements, and social media.
You can sell many types of pictures, including travel, business, people, food, animals, health, fashion, sports, and more.
For example, if I write a blog post about making money with a laptop, I might buy a stock photo of a laptop. Or, if I need a picture related to making money while traveling, I’d find a picture of a vacation to include in my blog post. Stock images can make a blog post more enjoyable to read.
Recommended reading: 18 Ways You Can Get Paid To Take Pictures
8. Affiliate marketing
Affiliate marketing is a way for you to earn money by promoting products or services online, and you don’t need anything special to get started.
With affiliate marketing, if your friend or follower buys a product through a referral link you share, you get paid a commission – it’s as simple as that.
First, pick products you love and are sure others will benefit from. Then, sign up for their affiliate program. Each program gives you an affiliate link. This link tracks who clicks and buys from your recommendation.
Your job is to share your affiliate link with as many interested people as possible. You could write about it on your blog, make videos, or even just share it on social media.
I recommend signing up for Affiliate Marketing Tips For Bloggers – Free eBook to learn more.
9. Playing games and watching videos for money
There are lots of money-making apps that let you earn cash by playing games or watching videos on your phone.
These apps pay you real money because they make money from ads and in-app purchases. To get you to keep playing, they give you a share of their earnings. For watching videos, the sites reward you with points for watching sponsored videos, and these videos can range from ads to short clips.
Now, these won’t make you rich, but it is a way to make money from your phone without upfront costs.
Here’s a quick list of the top video and game apps that pay real cash:
KashKick
Swagbucks
InboxDollars
Recommended reading: 15 Ways To Make Money From Your Phone
10. Market research and focus groups
If you love sharing your opinions, market research and focus groups are great ways for you to earn cash online without paying anything. This kind of work connects you with companies seeking feedback on their products or services. It’s all about understanding what you think as a consumer.
Lots of companies want to hear from people like you and me, and you can share your opinions with them using just a laptop or phone, some free time, and a good internet connection.
When I was paying off my student loans, I took online surveys almost every day. I did them before work, during lunch, or after work. Even though they didn’t make me a lot of money, they were flexible because I could do them whenever I had time. Plus, they were really easy and didn’t require much thinking!
Here are some survey companies I suggest:
American Consumer Opinion
Survey Junkie
Swagbucks
InboxDollars
Branded Surveys
PrizeRebel
User Interviews – This one pays on average around $60 per assignment (much higher than the rest, but it is a little more work for participants as these are usually video calls or on the phone)
Signing up for these survey sites is free, and typically, they pay about $1 to $3 for each survey you finish.
11. Online tutoring
As an online tutor, you get to teach students from the comfort of your home. Your job is to share your knowledge and help in a subject you know well. You don’t have to worry about traveling or a strict schedule; you can choose when to do your online tutoring gig.
You can make between $30 and $60 per hour or more, depending on the subject’s difficulty and your expertise. And you don’t need to spend any money up front, so it’s a way to earn online without extra costs.
As a tutor, you might spend 30 minutes to an hour giving a lesson, answering questions online, or working one-on-one with a student in a video lesson.
12. Virtual assistant job
You can make money from home as a virtual assistant by doing administrative tasks for clients online. You don’t need anything to get started other than a computer or laptop.
Virtual assistants, or VAs, do tasks similar to administrative assistants, but they work from home or anywhere with internet.
Virtual assistants do things like:
Email management – Answering and organizing emails
Calendar management – Scheduling appointments, meetings, and events
Administrative support – Preparing reports, presentations, and documents
Travel arrangements – Booking flights, hotels, and transportation for business trips
Internet research – Doing online research on topics to write about, competitors, products, etc.
Personal tasks – Booking appointments or making dinner reservations
I’ve been a virtual assistant before (it was actually one of my first online jobs, and I liked how I didn’t have to spend money to become a VA), and I also have one who works for me, so I know how useful they can be! Plus, you don’t need anything expensive to get started.
13. Social media influencer
Being a social media influencer is a real way to make money online without any initial cost, and plenty of people have started their social media accounts by spending absolutely $0. In fact, I think most people start as just a hobby!
You can start with just your phone, by taking pictures and sharing your thoughts on social media accounts like Instagram, TikTok, and Facebook.
You can earn money as a social media influencer through sponsored posts, where brands pay you to promote their products or services in your posts. You can also make money through affiliate marketing, where you earn commissions from sales made through your referral links. Plus, you can sell digital products like ebooks or online courses.
I’ve been a social media influencer for years, monetizing my Instagram and Facebook accounts. It’s allowed me to collaborate with brands I love and promote products I already use.
14. Transcriptionist
Becoming a transcriptionist can be a good choice to make money online without upfront costs. This is something that you can learn to do, and transcriptionists usually make around $15 per hour.
As a transcriptionist, you can earn money from home by turning audio files or video files into written documents. Clients can include marketers, authors, filmmakers, academics, speakers, and conferences.
To find transcription jobs, some places to start include:
Rev – Transcribers on Rev earn an average of $245 per month, with top earners making up to $1,495.
CrowdSurf – CrowdSurf pays for short transcription tasks, which are great for those looking for quick, manageable projects.
TranscribeMe – This platform is good for beginners as they give training and only require a reliable internet connection and computer.
Recommended reading: 18 Top Online Transcription Jobs For Beginners
10
In this free training, you will learn what transcription is, why it’s a highly in-demand skill, who hires transcriptionists, how to become a transcriptionist, and more.
15. Video gaming livestreams
Yes, you can make money online with no upfront costs by live streaming (such as a video game that you like to play). Eventually, you may want to upgrade to higher-quality equipment, but you can start right away with what you already have – your computer and phone.
Twitch is a website where you can make money by playing video games, talking with viewers in real time through live streams, and more.
As your viewer count grows, you can start making money. Streamers can earn through ways such as:
Subscriptions – Your fans can pay a monthly fee to support you as subscribers.
Donations – Viewers can send you tips if they enjoy your stream.
Advertisements – You can get paid from ads that run on your live stream.
Sponsorships – Companies may pay you to promote their products.
Recommended reading: How Much Do Twitch Streamers Make?
16. YouTube
Starting a YouTube channel is a popular way to make money online without any initial investment. You can record videos from your phone or camera, and you don’t really need anything else to get started in the beginning.
You can start a YouTube channel about many different topics like finance, home, travel, toys, pets, and more. There’s a YouTube channel for almost anything nowadays, and there’s still space for more!
In your YouTube videos, you can include links to products you recommend, earn money from ads that play during your videos, get paid by brands to feature their products, and even sell your own stuff.
17. Freelance graphic design
As a graphic designer, you can earn money online without investing any money up front. You can create designs such as logos, social media graphics, and branding materials for clients.
To start, you will most likely want to create a simple but impactful portfolio to display your work. This is your opportunity to show your abilities to potential clients, so you will want to include your favorite projects and what reflects your design style.
You can also sign up on freelance sites like Fiverr where businesses look for designers like you.
18. Virtual bookkeeping
Bookkeepers manage financial records, track expenses, and generate financial reports; it requires attention to detail and strong organizational skills.
This job typically pays more than $40,000 a year. Plus, many types of businesses require bookkeepers, making it a great career choice with opportunities for growth.
Even better, you can do this job from home using your computer and the internet.
Yes, you don’t need a degree to be a bookkeeper. You can start by learning basic bookkeeping and the software most businesses use.
If you want to become a bookkeeper, there is a free workshop all about finding a virtual bookkeeping job, and you can sign up for free here.
10
This free training will teach you what you need to know to become a virtual bookkeeper and make money from home.
19. Write an ebook
Writing an ebook can be a way to make money without needing upfront investment, other than your time and effort. This is something you can do yourself too, such as through the self-publishing route on Amazon.
Ebooks are digital books that you can download and read on devices like tablets, phones, e-readers, or laptops. They’ve become very popular because they’re affordable and easy to access.
I’ve purchased many ebooks myself, ranging from nonfiction to fiction, and many, many other people have as well.
Recommended reading: How this person is making $200 a day in book sales passively.
20. Online travel agent
A travel agent is a professional who helps people plan and book trips, vacations, and other travel arrangements. They give their expertise and support in finding the best deals on transportation, accommodations, and activities, considering their clients’ preferences, budgets, and needs.
Travel agents also give helpful advice on destinations, suggest itineraries, arrange tours and excursions, and handle logistics such as flights, hotels, car rentals, and travel insurance.
There are many different kinds of niches you can sell vacations and trips in, such as luxury travel, cruises, Disney, budget travel, and adventure holidays.
21. Write book reviews
If you enjoy reading and talking about books, you can make money by writing reviews at home. Authors and publishers want to hear your honest opinions because they help other readers choose their next book. Readers also like these reviews, so it benefits everyone involved.
You don’t need anything other than your computer (or even just your cell phone) to write the reviews. Many times, the book is given to you to review, so you don’t even have to pay for that.
This is typically more of a side gig for spare cash and free books.
Here are some websites where you can make money online by writing book reviews:
OnlineBookClub.org – They give free books for your first book review (and no other payment). After your first review, you can earn cash for each review, usually between $5 and $60.
Kirkus Media – They look for reviewers for both English and Spanish books, particularly in the Kirkus indie section. Reviews involve around 350-word summaries due two weeks after receiving the book. They cover all genres, with over 10,000 books reviewed annually.
Upwork – Create a profile as a book reviewer on this freelance platform. You can choose projects that interest you and set your own rates.
The US Review of Books – They hire freelance writers for 250- to 300-word reviews that go beyond summarizing to provide insights into the book. To join, submit a resume, writing samples, and a couple of references.
Reedsy Discovery – Review books before they are published and get paid through tips from readers, ranging from $1 to $5. It’s an exciting way to influence which books become popular.
Learn more at 16 Best Ways To Get Paid To Read Books.
22. Online job opportunities
There are many more ways to make money online that won’t cost you money to get started, and these include:
Finding remote part-time or full-time jobs – If you want a full-time income or are interested in part-time work, popular job search platforms like Indeed can help. They help you find jobs that fit your schedule where you work for someone else as an employee, such as software engineer, developer, human resources manager, IT manager, and more.
Customer service and support jobs – As an at-home customer service rep, you would work for companies, answering customer questions and issues that they may be having.
Data entry and administrative jobs – Data entry jobs are ideal for you if you have a good eye for detail and can work independently.
These are all jobs where you would be working for someone else, but online from home. The company would normally provide you everything you need to get started, such as any software and possibly even the laptop as well.
Frequently Asked Questions
Below are answers to common questions about how to make money online without paying anything.
How can I make money online completely for free?
There are many ways to make money online completely for free. You can start a blog, freelance write, bookkeep, write book reviews, sell stock photography, or become a virtual assistant.
How can students earn money online without any investment?
Students can make money online without any investment by answering online surveys, tutoring online, freelance writing, proofreading, blogging, and more. Whether you want to make extra cash or a full-time income, there are many options for students.
How to Make Money Online Without Paying Anything – Summary
I hope you enjoyed this article on how to make money online without paying anything.
Getting started with making money online might feel overwhelming and impossible, but it’s not impossible if you do it right.
The internet has many places where you can show off your skills as a writer, artist, or tutor. You can also sell items online, or even play games and give your opinion in surveys.
What other ways are there to make money online for free without investment?
Millions of employees work from home at least part time. They’ve carved out dedicated office space and plopped laptops on kitchen counters and in closets. They almost never can declare the home office tax deduction.
Millions of self-employed people have also created workspaces at home. If they use that part of their home exclusively and regularly for conducting business, and the home is the principal place of business, they may be able to deduct office-related business expenses.
Why the difference? The Tax Cuts and Jobs Act nearly doubled the standard deduction and eliminated many itemized deductions, including unreimbursed employee expenses, from 2018 to 2025.
Read on to learn whether or not you may qualify for the home office tax deduction.
What Is a Home Office Tax Deduction?
The home office tax deduction is available to self-employed people — independent contractors, sole proprietors, members of a business partnership, freelancers, and gig workers who require an office — who use part of their home, owned or rented, as a place of work regularly and exclusively.
“Home” can be a house, condo, apartment, mobile home, boat, or similar property, and includes structures on the property like an unattached garage, studio, barn, or greenhouse.
Eligible taxpayers can take a simplified deduction of up to $1,500 or go the detailed route and deduct office furniture, homeowners or renters insurance, internet, utilities needed for the business, repairs, and maintenance that affect the office, home depreciation, rent, mortgage interest, and many other things from taxable income.
After all, reducing taxable income is particularly important for the highly taxed self-employed (viewed by the IRS as both employee and employer.)
An employee who also has a side gig — like driving for Uber or dog walking — can deduct certain expenses from their self-employment income if they run the business out of their home. 💡 Quick Tip: You deserve a more zen mortgage. Look for a mortgage lender who’s dedicated to closing your loan on time.
Am I Eligible for a Home Office Deduction?
People who receive a W-2 form from their employer almost never qualify.
In general, a self-employed person who receives one or more IRS 1099-NEC tax forms may take the home office tax deduction.
Both of these must apply:
• You use the business part of your home exclusively and regularly for business purposes.
• The business part of your home is your main place of business; the place where you deal with patients or customers in the normal course of your business; or a structure not attached to the home that you use in connection with your business.
Regular and Exclusive Use
You must use a portion of the home for business needs on a regular basis. The real trick is to meet the IRS standard for the exclusive use of a home office. An at-home worker may spend nine hours a day, five days a week in a home office, yet is not supposed to take the home office deduction if the space is shared with a spouse or doubles as a gym or a child’s homework spot.
There are two exceptions to the IRS exclusive-use rules for home businesses.
• Daycare providers. Individuals offering daycare from home likely qualify for the home office tax deduction. Part of the home is used as a daycare facility for children, people with physical or mental disabilities, or people who are 65 and older. (If you run a daycare, your business-use percentage must be reduced because the space is available for personal use part of the time.)
• Storage of business products. If a home-based businessperson uses a portion of the home to store inventory or product samples, it’s OK to use that area for personal use as well. The home must be the only fixed location of the business or trade.
Principal Place of Business
Part of your home may qualify as your principal place of business “if you use it for the administrative or management activities of your trade or business and have no other fixed location where you conduct substantial administrative or management activities for that trade or business,” the IRS says.
Can You Qualify for a Home Office Deduction as an Employee?
Employees may only take the deduction if they maintain a home office for the “convenience of their employer,” meaning the home office is a condition of employment, necessary for the employer’s business to function, or needed to allow the employee to perform their duties.
Because your home must be your principal place of business in order to take the home office deduction, most employees who work part-time at home won’t qualify.
Can I Run More Than One Business in the Same Space?
If you have more than one Schedule C business, you can claim the same home office space, but you’ll have to split the expenses between the businesses. You cannot deduct the home office expenses multiple times.
How to Calculate the Home Office Tax Deduction
The deduction is most commonly based on square footage or the percentage of a home used as the home office.
The Simplified Method
If your office is 300 square feet or under, Uncle Sam allows you to deduct $5 per square foot, up to 300 square feet, for a maximum $1,500 tax deduction.
The Real Expense Method
The regular method looks at the percentage of the home used for business purposes. If your home office is 480 square feet and the home has 2,400 square feet, the percentage used for the home office tax deduction is 20%.
You may deduct 20% of indirect business expenses like utilities, cellphone, cable, homeowners or renters insurance, property tax, HOA fees, and cleaning service.
Direct expenses for the home office, such as painting, furniture, office supplies, and repairs, are 100% deductible. 💡 Quick Tip: A major home purchase may mean a jumbo loan, but it doesn’t have to mean a jumbo down payment. Apply for a jumbo mortgage with SoFi, and you could put as little as 10% down.
Things to Look Out for Before Applying for the Home Office Tax Deduction
If you’re an employee with side gigs or just self-employed, it might be a good idea to consult a tax pro when filing.
To avoid raising red flags, you may want to make sure your business expenses are reasonable, accurate, and well-documented. The IRS uses both automated and manual methods of examining self-employed workers’ tax returns. And in 2020, the agency created a Fraud Enforcement Office, part of its Small Business/Self-Employed Division. Among the filers in its sights are self-employed people.
The IRS conducts audits by mail or in-person to review records. The interview may be at an IRS office or at the tax filer’s home.
A final note: Taking all the deductions you’re entitled to and being informed about the different types of taxes is smart.
If you’re self-employed, you generally must pay a Social Security and Medicare tax of 15.3% of net earnings. Wage-earners pay 7.65% of gross income into Social Security and Medicare via payroll-tax withholding, matched by the employer.
So self-employed people often feel the burn at tax time. It’s smart to look for deductions and write off those home business expenses if you’re able to.
To shelter income and invest for retirement, you might want to set up a SEP IRA if you’re a self-employed professional with no employees.
Recommended: First-Time Homebuyers Guide
The Takeaway
If you’re an employee working remotely, the home office tax deduction is not for you, right now, anyway.
If you’re self-employed, the home office deduction could be helpful at tax time. To qualify for the home office deduction, you must use a portion of your house, apartment, or condominium (or any other type of home) for your business on a regular basis, and it generally must be the principal location of your business. This is something to keep in mind if you’re in the market for a new home, since writing off a portion of your home expenses could help offset some of the costs of homeownership.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% – 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It’s online, with access to one-on-one help.
SoFi Mortgages: simple, smart, and so affordable.
FAQ
How much can I get written off for my home office?
Using the simplified method of calculating the home office deduction, you can write off up to $1,500. Using the regular method, you’ll need to determine the percentage of your home being used for business purposes. You may then be able to deduct that percentage of certain indirect expenses (like utilities, cellphone, cable, homeowners or renters insurance, property tax, HOA fees, and cleaning services). Direct expenses for the home office, such as painting, furniture, office supplies, and repairs, are generally 100% deductible.
Can I make a claim for a home office tax deduction without receipts?
The simplified method does not require detailed records of expenses. If using the regular method, you should be prepared to defend your deduction in the event of an IRS audit.
The IRS says the law requires you to keep all records you used to prepare your tax return for at least three years from the date the return was filed.
What qualifies as a home office deduction?
Things like insurance, utilities, repairs, maintenance, equipment, and rent may qualify as tax deductions.
Photo credit: iStock/Marija Zlatkovic
SoFi Mortgages Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility for more information.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
[cd_ tax] Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Ever dream of leaving your job to pursue a project you’ve always been passionate about, like starting your own business? Or going back to school without taking out student loans? What about the option to retire at age 50 instead of 65 without having to worry about money?
Any of these opportunities could happen if you’re able to achieve financial freedom — having the money and resources to afford the lifestyle you want.
Intrigued by the idea of being financially free? Read on to find out what financial freedom means and how it works, plus 12 ways to help make it a reality.
What Is Financial Freedom?
Financial freedom is being in a financial position that allows you to afford the lifestyle you want. It’s typically achieved by having enough income, savings, or investments so you can live comfortably without the constant stress of having to earn a certain amount of money.
For instance, you might attain financial freedom by saving and investing in such a way that allows you to build wealth, or by growing your income so you’re able to save more for the future. Eventually, you may become financially independent and live off your savings and investments.
There are a number of different ways to work toward financial freedom so that you can stop living paycheck-to-paycheck, get out of debt, save and invest, and prepare for retirement. 💡 Quick Tip: Did you know that opening a brokerage account typically doesn’t come with any setup costs? Often, the only requirement to open a brokerage account — aside from providing personal details — is making an initial deposit.
12 Ways to Help You Reach Financial Freedom
The following strategies can help start you on the path to financial freedom.
1. Determine Your Needs
A good first step toward financial freedom is figuring out what kind of lifestyle you want to have once you reach financial independence, and how much it will cost you to sustain it. Think about what will make you happy in your post-work life and then create a budget to help you get there.
As a bonus, living on — and sticking to — a budget now will allow you to meet your current expenses, pay your bills, and save for the future.
2. Reduce Debt
Debt can make it very hard, if not impossible, to become financially free. Debt not only reduces your overall net worth by the amount you’ve got in loans or lines of outstanding credit, but it increases your monthly expenses.
To pay off debt, you may want to focus on the avalanche method, which prioritizes the payment of high-interest debt like credit cards.
You might also try to see if you can get a lower interest rate on some of your debts. For instance, with credit card debt, it may be possible to lower your interest rate by calling your credit card company and negotiating better terms.
And be sure to pay all your other bills on time, including loan payments, to avoid going into even more debt.
3. Set Up an Emergency Fund
Having an emergency fund in place to cover at least three to six months’ worth of expenses when something unexpected happens can help prevent you from taking on more debt.
With an emergency fund, if you lose your job, or your car breaks down and needs expensive repairs, you’ll have the funds on hand to cover it, rather than having to put it on your credit card. That emergency cushion is a type of financial freedom in itself.
4. Seek Higher Wages
If you’re not earning enough to cover your bills, you aren’t going to be able to save enough to retire early and pursue your passions. For many people, figuring out how to make more money in order to increase savings is another crucial step in the journey toward financial freedom.
There are different ways to increase your income. First, think about ways to get paid more for the job that you’re already doing.
For instance, ask for a raise at work, or have a conversation with your manager about establishing a path toward a higher salary. Earning more now can help you save more for your future needs.
5. Consider a Side Gig
Another way to increase your earnings is to take on a side hustle outside of your full-time job. For instance, you could do pet-sitting or tutoring on evenings and weekends to generate supplemental income. You could then save or invest the extra money.
6. Explore New Income Streams
You can get creative and brainstorm opportunities to create new sources of income. One idea: Any property you own, including real estate, cars, and tools, might potentially serve as money-making assets. You may sell these items, or explore opportunities to rent them out.
7. Open a High-Yield Savings Account
A savings account gives you a designated place to put your money so that it can grow as you keep adding to it. And a high-yield savings account typically allows you to earn a lot more in interest than a traditional savings account. As of February 2024, some high-yield savings accounts offered annual percentage yields (APYs) of 4.5% compared to the 0.46% APY of traditional savings accounts.
You can even automate your savings by having your paychecks directly deposited into your account. That makes it even easier to save.
8. Make Contributions to Your 401(k)
At work, contribute to your 401(k) if such a plan is offered. Contribute the maximum amount to this tax-deferred retirement account if you can — in 2024, that’s $23,000, or $30,500 if you’re age 50 or older — to help build a nest egg.
If you can’t max out your 401(k), contribute at least enough to get matching funds (if applicable) from your employer. This is essentially “free” or extra money that will go toward your retirement. 💡 Quick Tip: Want to lower your taxable income? Start saving for retirement with a traditional IRA. The money you save each year is tax deductible (and you don’t owe any taxes until you withdraw the funds, usually in retirement).
9. Consider Other Investments
After contributing to your workplace retirement plan, you may want to consider opening another retirement account, such as an IRA, or an investment account like a brokerage account. You might choose to explore different investment asset classes, such as mutual funds, stocks, bonds, or exchange-traded funds.
When you invest, the power of compounding returns may help you grow your money over time. But be aware that there is risk involved with investing.
Although the stock market has generally experienced a high historical rate of return, stocks are notoriously volatile. If you’re thinking about investing, be sure to learn about the stock market first, and do research to find what kind of investments might work best for you.
It’s also extremely important to determine your risk tolerance to help settle on an investment strategy and asset type you’re comfortable with. For instance, you may be more comfortable investing in mutual funds rather than individual stocks.
10. Stay Up to Date on Financial Issues
Practicing “financial literacy,” which means being knowledgeable about financial topics, can help you manage your money. Keep tabs on financial news and changes in the tax laws or requirements that might pertain to you. Reassess your investment portfolio at regular intervals to make sure it continues to be in line with your goals and priorities. And go over your budget and expenses frequently to check that they accurately reflect your current situation.
11. Reduce Your Expenses
Maximize your savings by minimizing your costs. Analyze what you spend monthly and look for things to trim or cut. Bring lunch from home instead of buying it out during the work week. Cancel the gym membership you’re not using. Eat out less frequently. These things won’t impact your quality of life, and they will help you save more.
12. Live Within Your Means
And finally, avoid lifestyle creep: Don’t buy expensive things you don’t need. A luxury car or fancy vacation may sound appealing, but these “wants” can set back your savings goals and lead to new debt if you have to finance them. Borrowing money makes sense when it advances your goals, but if it doesn’t, skip it and save your money instead.
The Takeaway
Financial freedom can allow you to live the kind of life you’ve always wanted without the stress of having to earn a certain amount of money. To help achieve financial freedom, follow strategies like making a budget, paying your bills on time, paying down debt, living within your means, and contributing to your 401(k).
Saving and investing your money are other ways to potentially help build wealth over time. Do your research to find the best types of accounts and investments for your current situation and future aspirations.
Ready to invest in your goals? It’s easy to get started when you open an investment account with SoFi Invest. You can invest in stocks, exchange-traded funds (ETFs), mutual funds, alternative funds, and more. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).
Invest with as little as $5 with a SoFi Active Investing account.
FAQ
How can I get financial freedom before 30?
Achieving financial freedom before age 30 is an ambitious goal that will require discipline and careful planning. To pursue it, you may want to follow strategies of the FIRE (Financial Independence Retire Early) movement. This approach entails setting a budget, living below your means in order to save a significant portion of your money, and establishing multiple streams of income, such as having a second job in addition to your primary job.
What is the most important first step towards achieving financial freedom?
The most important first step to achieving financial freedom is to figure out what kind of lifestyle you want to have and how much money you will need to sustain it. Once you know what your goals are, you can create a budget to help reach them.
What’s the difference between financial freedom and financial independence?
Financial freedom is being able to live the kind of lifestyle you want without financial strain or stress. Financial independence is having enough income, savings, or investments, to cover your needs without having to rely on a job or paycheck.
SoFi Invest® INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE SoFi Invest encompasses two distinct companies, with various products and services offered to investors as described below:
Individual customer accounts may be subject to the terms applicable to one or more of these platforms.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“SoFi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA (www.finra.org)/SIPC(www.sipc.org). Clearing and custody of all securities are provided by APEX Clearing Corporation.
For additional disclosures related to the SoFi Invest platforms described above please visit SoFi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
Exchange Traded Funds (ETFs): Investors should carefully consider the information contained in the prospectus, which contains the Fund’s investment objectives, risks, charges, expenses, and other relevant information. You may obtain a prospectus from the Fund company’s website or by email customer service at [email protected]. Please read the prospectus carefully prior to investing.
Shares of ETFs must be bought and sold at market price, which can vary significantly from the Fund’s net asset value (NAV). Investment returns are subject to market volatility and shares may be worth more or less their original value when redeemed. The diversification of an ETF will not protect against loss. An ETF may not achieve its stated investment objective. Rebalancing and other activities within the fund may be subject to tax consequences.
Investment Risk: Diversification can help reduce some investment risk. It cannot guarantee profit, or fully protect in a down market.
Looking for a real estate side hustle? Whether you are looking for passive income ideas or if you are looking for a part-time job (or more!), there are many different real estate side hustles. I have done a few different real estate side gigs, and I know many people who have side hustles in this…
Looking for a real estate side hustle?
Whether you are looking for passive income ideas or if you are looking for a part-time job (or more!), there are many different real estate side hustles.
I have done a few different real estate side gigs, and I know many people who have side hustles in this area as well. To get started in real estate, you don’t have to spend a lot of money – there are several real estate side gigs that can be started even if you are brand new or are on a budget.
Key Takeaways
Real estate side hustles have a range of options from income generating assets to freelance opportunities to office jobs.
You can supplement your income with both short-term and long-term real estate strategies.
Finding the right fit depends on your availability, investment capacity, and financial goals.
Best Real Estate Side Hustles
Here’s a quick summary of some of the different best real estate side hustles:
House hacking: Buy a property, live in one unit, and rent out the rest.
REIT investing: An easy way to start investing in real estate with less capital.
Airbnb rentals: Rent out a spare room or an entire property on a short-term basis.
Property management: If you’re organized and good with people, managing properties for others could be a perfect fit.
Long-term rentals: Becoming a landlord can generate steady cash flow.
Fix and flip: Buy properties that need work, renovate them, and sell them for a profit.
Below, you will read the full list and learn more about each one.
1. House flipping
Flipping houses can be a good real estate side hustle if you like real estate and enjoy fixing things up.
When you flip houses, you’re basically buying homes, making them better with repairs and upgrades, and then selling them to make more money.
The first thing to do for a successful house flip is to find a property that can be made better, such as by looking for homes in neighborhoods that are getting better or have room to grow. Think about things like where it is, what the market is like, and the condition of the property.
Before putting money into anything, it’s important to carefully look at the finances. You’ll want to figure out how much it will cost to buy, fix, and keep the property, and think about things like the cost of materials, paying workers, getting a loan, and the costs while you’re fixing things.
To flip a house well, you need to make smart changes that make the property better, without spending too much, by concentrating on important areas like the kitchen and bathrooms, and fixing any big problems with the structure or safety.
Recommended reading: 10 Best Books on Flipping Houses To Make Money
2. Investing in REITs
Real Estate Investment Trusts (REITs) are companies that own, operate, or finance income-generating real estate. They are a way for you to invest in real estate without directly managing or owning properties.
An REIT is like a company that owns and takes care of real estate that makes money. They sell shares of this company to people, kind of like how stocks work.
When you invest in REITs, you can earn money from the real estate world without actually owning any property. So, if you don’t want to deal with being a landlord, this could be a good option. It’s way less work than owning property and handling it yourself.
You can even spread out your money and invest in different kinds of properties with REITs, like houses, offices, factories, and stores.
3. Getting a roommate
Getting a roommate in your home, whether that be a full-time roommate or renting out an extra room in your home short-term on Airbnb, can be a great real estate side hustle that doesn’t require very much work from you.
The earnings you can make from having a roommate depend on things like:
Where your home is (an expensive area? rural?)
The space you are renting to a roommate (for example, do they get their own bathroom? private entrance available?)
To find a roommate, you can share about it on your own Facebook page, put up an ad on sites like Craigslist, or make a rental listing on Airbnb. There are lots of places where you can let people know you’re looking for a roommate.
I have had many roommates in the past when I was younger and had a home with spare bedrooms. I would rent them out to long-term renters and people that we personally knew (such as friends and my sister).
Recommended reading: Tips For Renting A Room In Your House.
4. Airbnbs and vacation rentals
Turning your property into an Airbnb or other short-term rental can be a way to generate extra income. This is when you rent out your space, whether a full house, an apartment, or just a room, to travelers for short stays.
Before starting your Airbnb side hustle, be sure to:
Check local laws: Make sure short-term rentals are permitted in your area. There are many areas nowadays that are more strict when it comes to short-term rentals.
Understand the financials: Calculate potential earnings against expenses like mortgage, utilities, and maintenance.
Set up your space: Furnish and decorate to create a welcoming environment.
Market your rental: Use high-quality photos and create listings on rental platforms like Airbnb and Vrbo.
The amount you can earn can vary, with some hosts making around $5,000 to $10,000 a month or more, but this depends on factors such as location, rental type, and occupancy rates. Always plan for occupancy ebbs and flows – it’s part of the short-term rental business.
5. Real estate photography
If you’ve ever looked at a house listing and thought that the pictures looked awful, then this may be the real estate side hustle for you.
Real estate agents many times hire out for the photography side of selling a house, as they know and understand how important good pictures are.
Real estate photography is all about taking pictures of houses and spaces to grab the attention of people who might want to buy them. Real estate photographers might take pictures of the outside of a house, the backyard, the living room, attic, bathroom, and more.
You can start with the equipment you likely already have, like your smartphone, which can work well because phones these days have great cameras.
How you show a property can really impact a client’s chance of selling it. Your photos are not just pictures; they’re an important part of how the property gets advertised.
As you continue with this real estate side hustle, you might think about getting better equipment (like a real camera!), but for now, practice paying attention to details and getting better at taking pictures.
If you’re thinking about doing something extra to earn money in real estate, photography could be a great choice.
Recommended reading: 18 Ways You Can Get Paid To Take Pictures
6. Real estate drone photography
Drone pilots sell real estate photography services to help real estate agents showcase the properties they are selling.
When property listings include pictures from various angles and heights, it gives a different perspective compared to regular photos. This helps show aspects of real estate that traditional pictures might miss.
When you sell property photography services using your drone, you’re providing a valuable service to real estate companies that want to stand out in a crowded housing market.
Homes are increasingly being sold using drone photos, and it’s understandable because they can showcase the surroundings of a home. Also, potential home buyers can see the entire property and house through a drone picture, giving them a better understanding of what the home includes.
Recommended reading: How To Make Money With A Drone
7. Long-term rentals
A long-term rental is when you rent out a property for a long amount of time, usually six months to a year or even longer. An example would be renting out an apartment or house to a family to live in full-time.
Long-term rentals are different from short-term rentals like vacation homes or Airbnb listings. They are meant for people or families looking for a longer place to live.
A benefit of long-term rentals is the reliable and steady income they can give you. When you rent your property to tenants for an extended period, you set up a regular cash flow of rental payments. This stability can be especially nice for people who are looking for a dependable source of passive income.
Plus, it’s usually less work than a short-term rental, because you don’t have to clean the home every few days or find new people to rent out to.
Recommended reading: How This 34 Year Old Owns 7 Rental Homes
8. Buy and hold for long-term wealth
If you want to grow wealth through real estate, the buy-and-hold strategy is a way to achieve lasting growth. This means buying a property and keeping it for an extended period, benefiting from both its increasing value over time and the rental income it makes you over the years.
Some positives to think about with a buy-and-hold real estate side hustle include:
Appreciation: Over time, real estate often increases in value.
Rental income: It can provide a steady cash flow each month.
Tax advantages: Possible deductions can reduce your taxable income.
The buy-and-hold strategy requires patience and a willingness to handle market changes. It’s a long-term approach, not a quick one, but if you stay persistent, you can create an investment portfolio for future financial stability.
9. Notary services for real estate
If you want to get more into the real estate world without becoming an agent or broker, becoming a notary public can be a way to make extra money.
Many documents, including deeds, mortgages, and power of attorney, require notarization to be legally binding.
With a notarization license, you can provide an important service required for different real estate transactions.
Notaries are important because they help make sure that the people signing documents are who they claim to be to prevent fraud.
10. Rental arbitrage
Rental arbitrage is a way to make extra money in real estate without owning a property. You rent a place for a long time and then sublease it as a short-term rental using platforms like Airbnb.
Here’s how to get started:
Check local laws: You’ll want to make sure your city or state allows for short-term rentals.
Make sure the rental allows for you to do this: Not every rental will be okay with you renting it out. You will want to read your rental contract carefully.
Do market research: Understand the demand for short-term rentals in your target area, such as by looking for locations with high tourist traffic or business conferences.
Potential Benefits
Considerations
+ Strong cash flow potential
– Initial setup and furnishing cost
+ Low startup costs compared to buying
– Dependence on short-term rental market stability
Making money in rental arbitrage comes from the difference between the cost of the long-term lease and the income from short-term rentals. The bigger the gap, the more potential for profit. But remember to factor in the expenses of running the rentals, like cleaning and maintenance costs.
11. House hacking
House hacking is a strategic approach to real estate where you purchase a property with multiple units and live in one unit while renting out the others. This is a side hustle because it can help offset your living expenses through the rental income.
House hacking can be an easy starting point if you want to dip your toes into real estate investing with the added perk of reducing your personal living expenses.
Back when we were living in a traditional house, we house hacked for a little while and had a few different roommates live with us. The monthly rent we collected allowed us to lower our house payments and put more money in savings.
We house hacked with our first house, and it was really great for us. Being able to set more money aside even helped me get ready to quit my job to become a full-time blogger.
If you are looking for a good book on the subject of house hacking, then I recommend reading The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom by Craig Curelop.
Recommended reading: What Is House Hacking & How To Live For Free
12. Real estate agent
A real estate agent is a person who helps people, like you and me, find real estate to buy or sell. They usually earn their income through a commission, which is a percentage of the property’s sale price.
To become a real estate agent and start this real estate career, you only need a high school diploma and a professional license. As of 2021, the median pay, according to the U.S. Bureau of Labor Statistics, is $23.45 per hour, or $48,770 per year.
And, there are tons of real estate agents who make a lot more money than this.
13. Crowdfunding and peer-to-peer lending
If you want to learn how to make extra money in real estate, then crowdfunding and peer-to-peer lending are areas to look into.
Crowdfunding platforms allow you to invest in real estate deals with a smaller amount of money compared to purchasing property outright. This can provide you with passive income through rental returns or potential property value appreciation.
Peer-to-peer lending platforms enable you to lend money directly to borrowers. You can potentially earn higher returns compared to traditional savings accounts, but there is always the risk of a borrower not repaying the loan.
Both crowdfunding and peer-to-peer lending utilize technology to connect investors with individuals seeking funding.
14. Bird dogging
Bird dogging in real estate can be a side hustle where you help find potentially profitable properties for investors. Your skill in spotting undervalued or distressed properties is important.
Here’s what you usually need to do:
Conduct market research to locate properties that are flying under the radar.
Build a network with local real estate investors who are looking for deals.
Learn to use the Multiple Listing Service (MLS) to spot opportunities.
Typically, you’ll be on the lookout for foreclosures, bank-owned properties, and distressed homes due for a quick sale.
As a bird dog, your compensation usually comes from a referral fee after the investor decides to move forward with your find. Importantly, to perform this role, you don’t necessarily need any initial capital, just the time and skill to identify promising investment opportunities.
15. General contractor
General contractors handle the day-to-day activities on construction sites, overseeing tasks from residential remodels to constructing new homes.
This is typically more of a full-time job, but this can sometimes be done as a real estate side hustle.
As a general contractor, you can choose projects that match your schedule and interests, providing flexibility. Despite the responsibilities, this role allows you to play a central role in turning plans into actual buildings, giving you the potential to make extra money.
16. Flip raw land
Getting involved in raw land flipping is when a person finds and buys undeveloped land to sell later at a profit.
The main benefits include a lower initial investment and less complexity compared to traditional real estate investments, as it doesn’t involve renovation or improvements. There are no buildings, instead it may be a lot or acres of land.
Here’s a step-by-step guide on how to start:
Find raw land – Research areas with potential growth or upcoming developments that could boost land value.
Due diligence – Perform thorough checks on land titles, zoning laws, and road access to avoid legal issues.
Pricing strategy – Your selling price should be attractive enough for buyers yet ensure you make a reasonable profit margin.
Sell and negotiate – Use online platforms to reach potential buyers and negotiate the best deal.
17. Rent out your storage space
If you have unused land or space in your home, renting it out for storage space can be an easy way to make passive income.
People have a lot of stuff, and they will pay you to store their stuff in your unused spaces.
You can sell storage solutions for vehicles, boats, personal belongings, and more. You can rent out your parking space, closet, basement, attic storage, and more.
A site where you can list your storage space is called Neighbor and you can earn $100 to $400+ each month. This depends on the demand in your area and the type of storage space you are renting out.
Recommended reading: Neighbor Review: Make Money Renting Your Storage Space
18. Property manager
A property manager side hustle can be a great way to make extra money.
A property manager is a real estate professional who finds and oversees tenants, collects rent, and handles repairs and maintenance activities. It’s a side hustle that property owners pay for because they may not have the time or skills to effectively manage their own property.
Property managers can manage long-term rentals like apartments, short-term rentals like Airbnbs, and even commercial spaces as well.
I have a friend who is a property manager on the side of his full-time construction job – he manages many different types of properties, from second homes to vacation rentals to someone simply being out of town. He checks on their properties to make sure that everything is running smoothly.
19. Home stager
If you’re passionate about real estate and design, starting a side hustle as a home stager could be profitable for you. As a home stager, your job is to improve the appearance of a home before it’s listed for sale.
This often results in faster sales and higher prices, making your service valuable to sellers.
You can start by staging homes for friends or family, if possible, to build a portfolio. Before and after photos are powerful tools to showcase your work.
You can even provide consultations to homeowners who prefer to do the actual staging themselves. In such cases, your design style can be a more budget-friendly option for a do-it-yourself homeowner.
20. Home inspector
We recently bought a house, and our home inspector was actually a home inspector on the side – this was his real estate side hustle! I think he was a city inspector (or something similar) full-time, so he was very knowledgeable in the area.
Home inspection as a side job can be a strategic move if you’re interested in real estate. This job allows for flexibility since you can set your hours, such as by completing home inspections on the weekends or before or after your day job.
You’ll need to invest in proper training and get licensed, which is a process that can be completed relatively quickly.
The responsibilities of a home inspector include:
Inspecting homes for possible problems, like a leak or bad wiring.
Creating and delivering reports based on what you find during the inspection.
21. Real estate appraiser
Real estate appraisers determine the fair market value of a property, and this process is important in transactions, such as home sales and refinances.
Appraisers assess property values by taking notes on unique characteristics and comparing them with similar properties that have sold recently.
They then prepare reports, detailing findings and providing a valuation that banks and other institutions depend on for loans.
22. Real estate wholesaler
Real estate wholesalers are middlemen who find properties under market value, contract them with the seller, and then sell the contract to a buyer, often an investor. Their profit comes from the difference between the contracted price with the seller and the amount the buyer pays.
Here is a quick summary of what a wholesale real estate side hustle is:
Find a distressed property – Search for properties that can be bought below market value.
Evaluate the property – Determine the After Repair Value (ARV) and estimate repair costs.
Secure under contract – Enter into a contract with the seller, giving you the right to purchase.
Find a buyer – Locate an investor interested in buying the contract.
Assign the contract – Transfer your purchasing rights to the investor for a fee.
By becoming skilled at finding good deals and building connections with trustworthy investors, real estate wholesaling can become a profitable real estate side hustle.
23. Start a real estate blog
Starting a real estate blog (or even a real estate YouTube channel or social media account!) can be a good way to make extra money without having to spend a lot of money.
With a real estate blog, you can write about local market insights, home buying and home selling tips, property investment strategies, home improvement and DIY projects, and more.
I have been a blogger for years, and I really love it. I am able to create my own schedule, decide how I make money online, travel whenever I want, and more. And, it all started on the side of my day job – so I definitely think that a real estate blog can be started as a side hustle.
Learn more at How To Start A Blog FREE Course.
Frequently Asked Questions
Below are answers to common questions about real estate side hustles.
Can real estate be a side hustle? Is real estate a good side hustle?
Yes, real estate can be a lucrative side hustle. Many people do real estate activities on a part-time basis, which can include short-term rentals, getting a roommate, and more, with lower time commitments.
Is real estate worth it as a side hustle?
Real estate as a side hustle can be worth it if you are looking for more income streams and have an interest in the housing market or real estate. As you probably noticed above, there are many different kinds of side hustles, so the amount of money you can earn or the amount of time you will spend will just depend on the gig you choose.
How can realtors make extra money?
Realtors can make extra money by managing rental properties, taking part in real estate crowdfunding, selling real estate photography services, and more.
Is real estate a good side hustle for teachers?
Yes, real estate can be a good side hustle for teachers. There are many options that may work for a teacher.
For example, some teachers work as real estate agents on the side. This is possible because you can handle listing and selling homes during weekends, breaks, evenings, and over the summer. However, keep in mind that selling homes might pose challenges, as clients may require your full attention during the day, which could clash with your teaching commitments.
You can find more ideas at 36 Best Side Jobs for Teachers To Make Extra Money.
Which licenses might be required to pursue a side hustle in the real estate field?
Depending on the side hustle, certain licenses like a real estate license may be required. For example, to become a real estate agent or home inspector, you’ll need a specific license. However, if you’re looking into just getting a roommate, then you may not need a license. It all just depends on the real estate side gig you are interested in.
How to make money in real estate without ever buying any property?
As you learned above, you don’t need to personally buy or own real estate in order to make money in real estate. You can invest in REITs, become a notary for real estate transactions, include affiliate marketing for real estate products on a blog, and more.
Real Estate Side Hustles – Summary
I hope you enjoyed this article about real estate side hustles.
Picking the right side hustle gig in real estate might feel overwhelming because there are many choices.
Some people might like jobs where you have to do more, like fixing up houses or taking care of Airbnb rentals. Others might prefer making money without doing much, like through REITs or renting out a spare room.
Whatever you’re into or however much money you have to invest, there are probably real estate side business ideas that fit with what you have and what you want to achieve.
What do you think is the best real estate side hustle?
Looking for the best summer jobs for teachers? Teachers, just like students, really enjoy the summer break. It’s a great time for them to relax and feel refreshed. But, this break can also be a chance for teachers to make extra money and even start a new business. I know many, many teachers who have…
Looking for the best summer jobs for teachers?
Teachers, just like students, really enjoy the summer break. It’s a great time for them to relax and feel refreshed. But, this break can also be a chance for teachers to make extra money and even start a new business.
I know many, many teachers who have side hustles in the summer. From part-time gigs to full-time summer businesses, there are many side jobs for teachers that you may want to try out.
Best Summer Jobs for Teachers
There are many summer jobs for teachers listed below. If you want to skip the list, here are some jobs that you may want to start learning more about first:
Flexible way to freelance – Proofreading
Side job for teachers from home – Blogging
How to make passive income as a teacher – Sell printables
Work as much or as little as you want – Flea market flipping
Creative job idea – Dog treat baker
Side job for teachers in summer – Grocery shopper
Camp counselor – If you love the outdoors, being a camp educator can be both rewarding and enjoyable, combining teaching with adventure activities.
Summer school teacher – Many schools have summer classes where you can continue teaching.
1. Teach summer school
One clear way for teachers to earn extra money in the summer is by teaching summer school.
It’s a good way to use your teaching abilities and make some additional income. The best part is that summer school happens during your summer break (big surprise, right?!), so it fits well with your schedule when you’re already off from regular school.
To start, check with your local school districts. A lot of them have summer school programs, and they usually share job opportunities on their websites or local education job boards.
2. Sell educational printables
Selling educational printables is a way for teachers to earn extra money. It’s especially good for those who want to make passive income as a teacher.
Your materials, like worksheets, lesson plans, and activities, are helpful to other teachers and parents looking for high-quality educational content.
Some places to sell your educational printables include:
Teachers Pay Teachers(TPT) – This is a popular site where millions of teachers buy and sell original educational resources.
Etsy – This site is known for handmade items, but also is a great place for selling educational materials and printables.
Educational printables include things like math problems, vocabulary cards, and science experiments. They’re useful for different grades, age groups, and learning goals, making it simple to improve regular teaching or homeschooling. You can share these resources online or print them for in-person classes too.
Recommended reading: How I Make $400,000 Per Year Selling Educational Printables.
Do you want to make money selling printables online? This free training will give you great ideas on what you can sell, how to get started, the costs, and how to make sales.
3. Flip used items for resale
Trying your hand at flipping items from flea markets and thrift shops can be a fun and money-making summer job for you as a teacher.
Flippers are people who find items at flea markets, yard sales, and thrift stores that are priced lower than their actual value. They then sell these items for a profit.
The summer is a great time to do this because there are typically a lot of yard sales, flea markets, and people just in general decluttering more (so you may find more things that people are giving away), where you can find items to resell.
Some items that you can buy and resell include clothing, antique furniture, collectible toys, sports equipment, electronics, rare books, jewelry, and more.
10
This free workshop will teach you how to get into the flipping business. It will teach you how to resell furniture, electronics, appliances, and anything else you can find.
4. Tutor
During the summer, your teaching skills are still needed. Tutoring can be a flexible and fulfilling summer job that lets you work with students one-on-one either online or in person.
You may be able to tutor on subjects like math, foreign language, science, and more. You also may be tutoring kids, teenagers, or even adults.
To begin, you can look for tutoring jobs on online tutoring sites like Tutor.com. You can also sell in-person local tutoring sessions by reaching out to tutoring companies nearby or advertising your services on social media or in local Facebook parent groups for your area.
5. Camp counselor
Becoming a camp counselor could be a rewarding experience for you in the summer. In this job, you’d guide groups of children through indoor and outdoor activities, as well as educational programs at summer camps.
Your daily tasks would include keeping campers safe, organizing games, and giving both educational and emotional support.
Summer camps come in different types, ranging from general adventure camps to specialized ones focusing on sports, arts, or science.
6. Freelance bookkeeping gigs
If you like numbers and you’re a teacher, online bookkeeping can be a way to spend your summer.
A bookkeeper is someone who assists in managing and tracking the financial aspects of a business. They usually keep records of sales, track expenses, and generate financial reports.
People with virtual bookkeeping jobs work from home, handling their responsibilities remotely. Virtual bookkeeping is a great choice for remote work as all tasks can be completed online or with computer software, eliminating the need to go into an office physically.
Recommended reading: How To Find Online Bookkeeping Jobs
10
This free training will teach you what you need to know to become a virtual bookkeeper and make money from home.
7. Swim instructor
If you’re a teacher who loves the water, becoming a swim instructor for the summer could be the perfect seasonal job for you. Your educational background gives you the ability to communicate and manage classes, which are important skills for teaching swimming.
To find swim instructor jobs:
Look on websites like Craigslist or Facebook for listings, including summer-specific roles.
Check out local community centers, pools, and summer camps.
Networking can help, so let friends and professional contacts know you’re looking.
Another job similar to this would be to become a lifeguard at a local pool.
8. Tour guide for local attractions
As a teacher, your ability to tell stories and lead can be very useful for a summer job as a tour guide. Your skill in explaining things well makes you a great choice to share history and local stories with visitors.
Check out jobs at museums, historical places, or become an ambassador for your city by guiding people to discover hidden treasures.
9. Pet care jobs
If you’re a teacher who loves animals, you may want to look into summer jobs in pet care, like being a dog walker or pet sitter. Your caring skills can easily transition to taking good care of furry friends while students are on break.
Rover is a website that connects pet owners with pet sitters and dog walkers. You can choose to do this job on weekends throughout the year or only open your schedule during the summer months – it’s your choice.
Starting on Rover is simple – you create a profile sharing your experience with pets and the services you can offer, such as dog walking, pet sitting, and house sitting.
After that, customers will send you requests, and you can discuss pricing. Rover handles the payment process, and you’ll get paid directly into your account.
Recommended reading: 7 Best Dog Walking Apps To Make Extra Money
10. Test prep instructor
As a teacher, your knowledge of academic subjects is very helpful, especially in the summer. Becoming a test prep instructor can be a great chance to help students in getting ready for their exams and earn extra money.
Test prep instructor jobs include subjects like math and English, and they cater to different education levels, from elementary school to college.
11. Sell your lesson plans
Teachers Pay Teachers (TPT) is a website made just for educators to buy and sell educational items, and it’s a well-liked side hustle for teachers. If you’ve created lesson plans, worksheets, or other teaching tools for your class, you can share them on TPT and make some extra income.
The school year may be over for you, but that doesn’t mean that you can’t create and sell lesson plans – these are bought year-round!
You can sell:
Lesson plans and unit studies
Worksheets and printable activities
PowerPoint presentations and interactive notebooks
Posters, charts, and visual aids
On Teachers Pay Teachers, the typical teacher can earn around an extra $300 to $500. However, some teachers make hundreds of thousands of dollars extra each year.
12. Coach a school sport
If you love sports and you’re a teacher, coaching a school sport during the summer might be a great match for your skills and interests.
Coaching a school sport is a great option within your own school district, as many schools need help with their sports teams. You can try coaching sports like soccer, basketball, volleyball, and track and field. Additionally, there are opportunities with after-school clubs such as yearbook, chess, choir, and more that can be a teacher’s side hustle.
13. Run a dog bakery
Beginning a dog bakery can be an enjoyable side job for teachers who adore both dogs and baking. By creating treats for dogs such as cupcakes, cookies, cakes, and more, you can earn an additional $500 to $1,000, or even more, each month.
Recommended reading: How I Make $4,000 Per Month Baking Dog Treats (With Zero Baking Experience!).
14. Sell handmade goods on Etsy
Etsy is a popular online marketplace that connects makers and shoppers looking for unique handmade goods. If you’re a teacher with a creative side, this could be a great site for you to showcase and sell your crafts during the summer months.
Some examples of what you can sell on Etsy that are related to school include:
Educational games and activities
Educational materials like lesson planners and printable worksheets
Handcrafted classroom decorations or educational games
Personalized items such as bookmarks, nameplates, or tote bags
But, you don’t have to only sell teaching-related items. You can sell many other things such as furniture, clothing, jewelry, soap, home decor, and more.
15. Work at a restaurant
Many teachers work part-time or full-time at a restaurant during the summer as servers, hosts, bartenders, and kitchen staff.
Working in restaurants can fit teachers well since they have flexible hours that can match your open summer schedule, and you can leave the job easily once school resumes in the fall.
I know many, many people who have done this, and I would say this is one of the top summer jobs for teachers.
16. Proofread
As a teacher, you likely excel at proofreading and can easily catch mistakes. Using these skills, proofreading can be a fantastic side job. By proofreading, you can help authors, website owners, students, and others in their writing while earning extra income.
Even the best writers can overlook errors in grammar, punctuation, and spelling. That’s why having a proofreader can be helpful for nearly everyone.
You can usually set your own hours, which is perfect for the irregular schedules you might have.
10
This free 76-minute workshop answers all of the most common questions about how to become a proofreader, and even talks about the 5 signs that proofreading could be a perfect fit for you.
17. House sit
House sitting is a good option for teachers looking to make extra income during the summer months because a lot of people take vacations in the summer. As a house sitter, you are typically responsible for maintaining someone’s home while they are away. This can include watering plants, collecting mail, and making sure the house remains secure.
People hire house sitters to make sure their homes aren’t left empty, as a visible presence can discourage potential thefts.
To begin house sitting, you can join house-sitting websites to find gigs in your area or ask for referrals from friends and family. Starting with people you know for house-sitting and then using their references can expand your job search.
18. Blog
Blogging can be an enjoyable way for you, as a teacher, to earn extra money from home. Many teachers run blogs, and it makes sense – you can blog when you have free time, without sticking to a strict schedule.
To start your blog, first, pick a topic you’re passionate about, maybe something related to your teaching field or a hobby you enjoy. There are plenty of different niche ideas such as personal finance, travel, food, home, pets, and so much more.
You can earn money as a blogger through ways like:
Affiliate marketing – Share links to products or services related to your blog topic and earn a commission for sales made through your referral links.
Advertising – Add display ads or sponsored posts on your blog.
Courses and ebooks – Create courses or ebooks in your expertise area and sell them through your blog.
Learn more at How To Start A Blog FREE Course.
10
Want to see how I built a $5,000,000 blog?
In this free course, I show you how to create a blog, from the technical side to earning your first income and attracting readers.
19. Freelance writing
If you’re looking for remote summer jobs for teachers, then becoming a freelance writer can be a great option.
Freelance writers create content for blogs, websites, magazines, newspapers, advertising companies, and more. You can find writing jobs on platforms like Upwork and Fiverr. Also, you can find clients independently by reaching out to websites you are interested in writing for.
I have been a freelance writer for years, and it all started as a side hustle. This is a great side hustle because you can choose to work as much or as little as you want, such as if you are only looking to do freelance writing in the summer months when you are not teaching at a school.
Recommended reading: 14 Places To Find Beginner Freelance Writing Jobs
20. Transcribe
An online transcriptionist’s role involves listening to video or audio files and typing out the content they hear. Various types of transcriptionists exist, including legal, general, and medical transcriptionists.
This job demands solid typing and listening skills, and the flexibility to work from home on your schedule. Transcriptionists typically earn an average of $15 to $30 per hour.
This is another great side hustle because you can choose to work as much or as little as you want, such as if you are only looking to make extra money during the summer months.
I recommend signing up for FREE Workshop: Is a Career in Transcription Right for You? You’ll learn how to get started as a transcriptionist, how you can find transcription work, and more.
Recommended reading: 18 Best Beginner Online Transcription Jobs To Make $2,000 Monthly
10
In this free training, you will learn what transcription is, why it’s a highly in-demand skill, who hires transcriptionists, how to become a transcriptionist, and more.
21. Rent out an unused room in your home
If you have a spare room in your house, you might want to try renting it out over the summer. Platforms such as Airbnb or Vrbo make it easy for you.
I have rented out rooms to others in the past, and it has been a great way to make extra money. If you live in a touristy area, this could even be a gig that you only do in the summers and earn enough to cover your bills or at least pay for some of them.
22. Rent your garage space
If you have available storage space like a garage, driveway, closet, basement, or attic, you might consider renting it out to make extra money. This can be a profitable side hustle without requiring much of your spare time.
Neighbor is a platform where you can list your extra space for rent and potentially earn up to $15,000 per year.
This is a gig that may take up more than just your summer because typically people may store their stuff more long-term. But, you may find some people who only need to store things a few months at a time or perhaps you can also try to turn this into a year-round side hustle.
Recommended reading: Neighbor Review: Make Money Renting Your Storage Space
10
You can use this website to list your unused space for rent and make up to $15,000 per year by doing so. With Neighbor, you can rent out your garage, driveway, basement, parking lot, shed, warehouse, carport, attic, street parking, or even a closet.
23. Teach English as a second language
If you’re a teacher looking for a seasonal opportunity, teaching English as a second language (ESL) during the summer can be a rewarding experience.
Many institutions are looking to hire for ESL teaching jobs, ranging from local schools to international language camps and online platforms. Here’s how you can get started and what you might expect:
Typically, ESL teachers need a bachelor’s degree and a teaching credential like TEFL (teaching English as a foreign language) certification. Some positions abroad might have additional requirements.
24. Answer online surveys
If you’re looking for a flexible way to earn extra cash during the summer, answering online surveys could be a great fit. Companies are always in search of genuine feedback to improve their products or services, and your opinions are valuable.
Now, this won’t be a full-time job, but you share your thoughts and can make extra money or free gift cards on your own schedule.
The survey companies I recommend are:
Swagbucks
User Interviews – These are the highest paying surveys with the average being around $60 for an hour of your time.
Branded Surveys
American Consumer Opinion
Pinecone Research
PrizeRebel
InboxDollars
Recommended reading: 18 Best Paid Survey Sites To Make $100+ Per Month
10
User Interviews pays very well for market research studies and these are some of the highest paying online surveys, with each paying $50 to $100 or more. The average pays over $60.
25. Mystery shop
Companies hire mystery shoppers to gain insights into their customers’ experiences. They seek genuine opinions on products, feedback on customer treatment, evaluations of phone call interactions, and more. Mystery shoppers play a key role in providing valuable feedback to companies.
This is a great summer side hustle for teachers because you can simply pick up mystery shopping jobs when you need them. So, it’s completely okay and normal to only accept jobs during the summer.
Here’s what mystery shoppers do:
Visit businesses anonymously.
Complete specific tasks, such as purchasing a product or asking questions.
Record your observations.
Provide a detailed report on your experience.
I have done many secret shopping jobs over the years, and I often got mystery shops that provided me with $100 to cover a free dinner.
Recommended reading: How To Become A Mystery Shopper
26. Find gigs on Craigslist
Craigslist can be a goldmine for finding great summer jobs for teachers. It’s a site where individuals and businesses post quick jobs to make extra money.
You can find these gigs by going to the Craigslist website for your city or area. Right on the home page, you’ll spot a section labeled “Gigs.” This is where short-term job offers are posted, ranging from labor-intensive tasks to more skill-specific roles.
Here are some jobs I have found in the past on Craigslist:
Moving boxes to a new house
Deep cleaning a home
Putting together new furniture out of a box
Taking down a shed in a backyard
Handyman
Movie extra
Event parking help
27. Deliver groceries with Instacart
If you’re a teacher looking for flexible summer jobs for teachers, try delivering groceries with Instacart.
Grocery delivery services, like Instacart, are in demand as more people prefer having someone else do their grocery shopping.
Becoming a personal grocery shopper with services like Instacart can earn you an average of $15 to $20 per hour for delivering groceries. You’re paid per order, and you get to keep 100% of your tips. The flexibility allows teachers to choose their schedules, working in the evenings, on weekends, or even exclusively during the summer.
Recommended reading: Instacart Shopper Review: How much do Instacart Shoppers earn?
9
Instacart is a popular website for people looking to earn extra money shopping for and delivering groceries. Instacart gives you the option to turn your free time into a chance to make some extra money.
28. Real estate agent
If you’re a teacher looking for a productive way to spend your summer months, you may consider becoming a real estate agent.
Some teachers work as real estate agents alongside their full-time teaching jobs. This is possible because you can list and sell homes during weekends, breaks, evenings, and over the summer.
However, selling homes may have some challenges, as clients may occasionally require your full attention during the day, and you might be occupied with teaching. This is something to consider before getting into real estate as a side job.
29. Virtual assistant
If you’re a teacher looking for a flexible summer job that pays well, becoming a virtual assistant (VA) could be a perfect fit. As a VA, you can use your organizational skills and attention to detail to help businesses and entrepreneurs from the comfort of your home.
Some examples of what a VA does include:
Email management – Keep inboxes organized and respond to emails on behalf of your clients.
Scheduling – Manage calendars, arrange meetings, and send reminders.
File organization – Keep digital files in order using online tools like Google Drive or Dropbox.
Recommended reading: Best Ways To Find Virtual Assistant Jobs
30. Drive for Uber or Lyft
Driving for Uber or Lyft can give you a flexible way to earn money during your summer break.
You get to set your own hours and work as much or as little as you desire, meaning you can align this job with your summer plans.
31. Library assistant
As a teacher, your skills are a natural fit for a summer position as a library assistant. Libraries often seek additional staff during the summer months, providing a great opportunity for you to engage in a role that supports literacy and learning in a calm environment.
Your job may include doing things such as:
Organizing books – Keeping the library orderly and materials easy to access
Circulation desk duties – Checking books in and out for people
Helping library users – Helping visitors find books and resources, and answering inquiries
You can simply contact libraries near you to see if they are hiring.
32. Driver’s ed teacher
Teaching driving lessons to teenagers and adults is a popular side hustle for teachers. If you’re interested, you can check if the high school near you needs a teacher for this subject. Alternatively, reach out to a local driving school to inquire about potential teaching opportunities.
Driving instructors make around $20 an hour more or less, depending on where you live.
Back when I was in high school, I actually took my driver’s ed course at my high school in the summer. It was an easy summer credit, and I also got a discount on my car insurance. One of the teachers taught this course and it seemed fairly easy (other than having to deal with a bunch of us high school students over the summer who were wanting to learn how to drive, ha!).
33. Babysitting
Babysitting can be a side job for teachers, and depending on your location, you might earn around $15 to $25 per hour. Parents tend to prefer hiring teachers as babysitters due to their extensive experience with children.
Becoming a babysitter can be a great way to make extra money in the summer as well, as you can choose to sign up for babysitting jobs that are only during this time.
Plus, many families need extra help during the summer because school is not in session, but the parents still have to work. That is where you come in!
Another job similar to this would be elderly companion care.
Frequently Asked Questions
Below are answers to common questions about finding summer jobs for teachers.
Do teachers still make money during the summer?
Yes, many teachers do receive income during the summer, especially if their annual salary is distributed over 12 months. However, if you’re paid only for the months you work, looking for summer employment can supplement your income during this period. Not all teachers have summer gigs, but those who want to make income in addition to their teacher salaries may try to find something in the summer.
What is the best summer job for a teacher?
The best summer job for a teacher often capitalizes on their skill set. Positions like tutoring, educational program coordination, or teaching summer school are highly relevant options. Teachers might also consider roles in curriculum development or educational content creation.
What jobs exist for substitute teachers looking for summer employment?
Substitute teachers can find summer jobs in other educational roles, such as tutoring, mentoring, or working in summer camps. Many community centers and educational institutions also look for qualified professionals to lead summer workshops or help with childcare programs.
What are some summer jobs for teachers from home?
Teachers looking for summer jobs from home can find opportunities such as online tutoring or virtual summer school teaching. Other side gig ideas include writing content for websites, blogging, transcribing, and more.
Best Summer Jobs for Teachers – Summary
I hope you enjoyed this article on the best summer jobs for teachers.
As you can see, there are many ways to make extra money over your summer vacation.
Teachers have lots of options during the summer. They can stick with education by teaching summer school or tutoring. Or, they can try something new like being a camp counselor or giving local tours.
Teachers who like trying out new things might sell educational printables, sell things for profit, or sell services like pet care or freelance writing.
What do you think are the best jobs for teachers in the summer?