The Ramsey Show: 8 Side Hustles To Earn Extra Cash
Jade Warshaw is one of the financial personalities who is part of the Ramsey Solutions network, created by Dave Ramsey. The entire network is dedicated to help people grow their money, with debt elimination being one of the important first steps.
While most people focus on trimming expenses to help them get out of debt, the Ramsey Solutions team also recommends boosting income. To that end, Warshaw wrote a blog post recently outlining various side gigs that people can use to generate extra income. Here are some of the top suggestions.
Rent Out a Spare Room
If you own a house, you have a potentially significant source of income right under your own roof. With some planning, you could rent out one of more rooms on either a nightly or long-term basis.
How much you earn will depend on the specifics of your area, and your home itself, but there will always be people looking for housing and/or vacation rentals. Some homeowners who don’t use their garages have even converted them into rentable apartments. You’ll have to check the legality of rentals in your city before you can proceed, and you may want to consider adjustments to your home to keep a barrier between you and your renters.
However, with a little bit of effort, you could potentially generate hundreds or even thousands of dollars a month in income from an asset you already have.
Become a Rideshare Driver
If you have a car and some free time on your hands, you can be a rideshare driver. Services like Uber and Lyft connect you with people needing rides, and all you have to do is show up and deliver them to their destinations.
For people who enjoy spending time in their cars, this is a low-barrier-to-entry type of job that might not even feel like work. It can also put a few hundred dollars in your pocket every week or month, depending on how much you are willing to drive.
If you have knowledge in a specific area and want to connect with people without even leaving your house, pick up an online tutoring job. You may find yourself in high demand if you have skills in a specific area, such as engineering or mathematics, but another popular option is simply teaching English.
You can easily pull down more than $20 per hour as an online tutor, depending on where you live and what your level of expertise is.
While not really a “job,” nearly everyone has things they no longer need or want that they can unload to willing buyers. If you want to actually turn that into a side hustle, you can invest in products that you know you can flip to others at a higher price.
For example, if you’re a savvy shopper who enjoys visiting thrift shops and flea markets, you can hand-pick items that are undervalued and then sell them at or near their full retail price online, perhaps after a bit of upkeep. Just remember to only invest in items you are sure you’re going to sell, otherwise you’ll be creating more of a debt problem rather than solving it.
Use Your Talents (Arts, Labor, Design, Etc.)
If you’re talented in a specific area, you can typically turn your skills into income. Whether you are a musician, an artist, a landscaper, a creative designer or a laborer, someone is likely in need of your services. With a little bit of research and perhaps some advertising, you may be able to use your talents to earn a few extra bucks doing something you truly enjoy.
Good coaches are in high demand. While most people think of coaches as local volunteers running kids’ sports teams, if you think outside the box, you might find some paying opportunities.
For example, life coaching has become a popular, high-paying field for those with the right skills. Financial coaches are also in demand. In some cases, you might need special certifications, so be sure to check that out first.
Sitting or Dog Walking
There are few things people love more than their pets and going on vacation. If you’re looking to pick up some side hustle income, you can benefit from either or both.
Go door-to-door or advertise locally and offer your services as a pet-sitter, dog walker or house sitter. Once you build up a track record — or if you’re well-known in your own neighborhood — you can likely get consistent work taking pets out for a stroll or watching over your neighbors’ homes and animals while they’re gone.
Deliver Packages, Food or Groceries
If you have a vehicle but would rather drive packages, food and groceries around instead of people, consider picking up some hours as a delivery driver.
The job will essentially be the same — making pickups and drop-offs — but you won’t have to worry about making small talk in your car if that’s not your thing. Companies like Amazon, Instacart and Shipt always need drivers, and in some cases you can make over $20 per hour.
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