“Want to make some extra money?” We all know the answer to that question is always “yes”! It doesn’t matter how much money you have, we are hard-wired to want more. At no time in the history of the world did anyone ever say, “Nah, I found 37 cents in the sofa cushions (western chaps, toga pockets, caveman BVD’s – pick your era) last week, so I’m good.”
And the good news is that in the gig economy culture of our modern world, there are a lot of ways to pick up side hustles and make a few extra bucks these days. The best part? There’s often no long-term commitment or upfront investment to get started. Check it out.
What is a Gig Economy, Anyway?
By definition, a gig economy is a labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs. It is synonymous with brands like Uber, Lyft and DoorDash, but there are many other options available to suit your individual needs.
Working a “gig” job is a good way to bring in some extra cash if you need it, even if it’s just for a few months until you get to where you want to be, financially. Plus, depending on your available time, skills and needs, you can choose to work a little or a lot (yay freedom!). No plans this Saturday between 10am and 2pm? Looks like a great time to get your hustle on. Plus, sometimes all you need for a gig economy job is a car, driver’s license and a clean background check.
How Much Money Can You Make?
The amount of money you can bring in depends on different factors, including the type of work you do and the amount of time you put in. For example, if you’re an AirBnB host, you can earn on average over $500 a month. If you drive for Lyft or Uber, you can earn on average about $364 per month or more, depending on the market, location and hours worked. Check out this handy resource for average amounts that you can add to your discretionary funds each month depending on the type of job you want to do.
What Gig Economy Options Exist?
Besides the more common jobs like rideshare services and food delivery, consider some other ideas. For example, if you’ve got a crafty bone, running an Etsy shop might be your cup of tea. Selling previously loved items on sites like Poshmark or OfferUp, is another idea. If you have a knack for the written word, you can get freelance writing projects on sites like Fiverr or Upwork. Love educating others? Education First can help you make some extra dough. If you like to “move it, move it”, you can help people do just that by picking up work with sites like Bellhops or Dolly. Cause let’s be honest, most people will do just about anything to avoid packing and moving themselves!
Whatever your skill or interest, there’s probably a gig or side hustle that’s perfect for you. And if you need some help finding your fit, check out this comprehensive list of gig economy jobs, which also provides handy estimates on what you can expect to make.
Each gig economy opportunity is different and comes with its own set of qualifications and considerations. While you likely won’t make a full-time income or have health benefits with a gig economy job, you can supplement your current income with a job that gives you a lot of flexibility and an opportunity to flex your entrepreneurial muscle. Just remember, it really IS a hustle, so what you get out of it is what you put in, and the more you put in will lead to more money in your pocket. Cha-ching!
Looking for more tips to help you make the most of your money? Check out the Smart Money section of the Moneytree Blog.