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Things change really fast these days. Really fast. The thing about constant change is that you must be quick in order to keep up with the pace. You must learn quickly and adapt even faster! Lots of savvy everyday people have turned to side hustles in order to keep their wallets lined with cash.

1. Dive into the Gig Economy

The most accessible of these is diving into the so-called gig economy. If you have a driver's license the options open to you are pretty extensive. Even if you don’t have a car, profitable ride-share companies like Lyft, and Uber are actually willing to lease you a vehicle to use provided you commit to giving a given number of rides per week and pay their weekly fee. Companies like these will pay you to download their app and hop on for some dedicated drive time.

 

If you’re not into giving people rides but still want to use your car to make money in your free time (or some do it full-time! Check out this blog about being a fulltime driver with Lyft or uber!) you can look into other drive-oriented gigs like postmates, doordash, grubhub, ubereats that allow you to work on demand as a delivery driver, bringing people food from local restaurants. Ubereats drivers can expect to earn between 8-12 dollars an hour after vehicle expenses such as gas and maintenance are factored in, although day to day take home pay can fluctuate depending on which hours you work and the tips that you get that day.

 

When deciding to drive part time with any of these food delivery services it’s crucial that you work the lunch and dinner rushes if you wish to be on the higher end of the payscale.

 

There are also some companies such as InstaCart that place you in the role of personal shopper for profit and ask you to shop for and then deliver groceries to people who place orders online. Instacart operates in thousands of cities nationwide and some people like the guy in this video have had some fabulous results working for Instacart

 

If driving isn’t really your thing, you can check out apps like Instawork which is a really great platform where local businesses post requests to have positions filled on short notice. It’s basically a virtual temp agency that relies on crowdsourcing to meet the labor related needs of various companies. The sign up process is pretty straightforward, although in order to access most of the really good gigs you’ll need to provide some documentation and register as a w-2 eligible employee.

 

Pay varies from location to location; however, most of my experience with this app has earned pay rates handsomely above minimum wage. The best thing about Instawork in my experience has been that there is no shortage of work available. Types of jobs you can expect to see will vary from labor to administrative to food service. In order to link you up with the most compatible jobs Instawork will ask you a short set of questions during the signup process.

 

Another neat one to look into is TaskRabbit which connects freelancers with local customers doing things such as cleaning, delivery, handyman services and more. I personally don’t have much experience with this app, but I’ve spoken to several people who do and it always came recommended. Check out this article for a full run-down on Taskrabbit.

 

For those of you out there with hospitality experience there’s a service called Qwick which hooks local talent up with resorts and restaurants in need. I made 20 dollars an hour for washing dishes, even. Bartending and serving gigs tend to pay more than that! Go to their website and see if they operate in your location.

 

To get set up with qwick you will need to attend an orientation hosted at a local resort, usually, where you will complete the companies onboarding process. From there you will receive text message notifications whenever there are available relevant shifts up for grabs.

 

2. Buy/Sell Locally

This one can be a bit elusive and involves some cash up front but can be very lucrative when done with savvy and discipline. For the sake of this article, we’re going to assume you know all about apps like OfferUp and platforms like facebook marketplace. Well have you ever noticed how there are some really great deals to be found there? That’s because there are! Consistently! Start with familiar territory here and pick items you are knowledgeable about (I picked electronics, bicycles and tools. A friend of mine picked car stereo equipment, jewelry and sports equipment.). Find these items for a great price, assess their condition and price out any necessary modifications or repairs. If you plan on selling the item for more than you paid for it and any parts/labor that went into it, you are left making a profit.

 

Some things to keep in mind while you’re getting started buying/selling locally as a side hustle.


1. You are not obligated to buy something just because you agree to meet someone. If you get there and the item isn’t as described or they try to mess around with you on price, feel free to walk away.


2. People will often be more flexible than you might think when it comes to what sort of price they’ll agree to. If someone has it up for 60 dollars and you want it for 50, ask them if they’ll take 40, and so forth.


3. Keep records of transactions so you can monitor profitability. By doing this you will be able to (over time) identify your most profitable types of items and spend more time buying/selling these instead of lower margin ones. See this article about the Pareto Principal for a deeper understanding of what I’m talking about here.

While this side hustle won't make you rich overnight, I have managed to make upwards of 500 dollars a month in profit with a fairly minimal amount of time invested. Just make sure you buy low and sell high, don’t be afraid to leave your item on the market for a while until you get an offer you like.

 

Just make sure you keep records and only mess with the most profitable items!

 

3. Airbnb

For those of you that own your own homes, looking into Airbnb as a method of generating income could turn out to be quite lucrative for you. As a matter of fact, the average expected income for Airbnb hosts renting out two-bedroom apartments or homes is about 20k! See what people have to say about being an Airbnb host and get helpful tips here!



Whether you choose to rent space within your own home or to rent out space at a dedicated property, is entirely up to you. A growing number of seniors are choosing to participate as Airbnb hosts! Worldwide there are usually about 2 million people per night staying in an Airbnb location with over 500k bookings a day. Check out their website if you’re interested in becoming a host with Airbnb.

 

Some cool features of the platform include: the ability to set prices yourself, no minimum or maximum amount of hosting time, set your own rules and requirements for guests and a helpful community center loaded with tips and support for hosts hoping to maximize their earnings!

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