What are the best side hustles to make extra money?

๐Ÿ‘๏ธ 5,847 views ๐Ÿ‘ 892 found helpful ๐Ÿ“… Updated: June 5, 2024 โœ๏ธ By FinAssist Pro Financial Team
Quick Answer

Top side hustles include DoorDash and Uber Eats ($15-$25/hour), freelance writing on Upwork ($30-$100/hour), online tutoring with Wyzant or Preply ($20-$60/hour), pet sitting on Rover ($25-$50/night), and selling handmade goods on Etsy ($300-$2,000/month). Set a $500-$1,500 monthly target, work 10-15 hours per week, and track every dollar โ€” side hustle income is taxable on Schedule C plus 15.3% self-employment tax.

1. Pick the Right Side Hustle for Your Skills

Match the gig to your skills, schedule, and capital. Low-skill, low-pay options like DoorDash, Uber Eats, Instacart, and Amazon Flex pay $15-$25 per hour and require only a car and smartphone; expect 10-30 hours weekly to net $400-$1,000. Mid-tier hustles like Rover pet sitting ($25-$50/night), TaskRabbit ($30-$80/hour for furniture assembly or moving), and online tutoring on Wyzant, Preply, or VIPKid ($20-$60/hour) leverage skills you already have. High-skill hustles โ€” freelance writing, graphic design, web development, bookkeeping, or consulting on Upwork, Fiverr, or Toptal โ€” earn $30-$150 per hour and can scale to full-time income. Estimate your hourly rate after taxes (multiply gross by 0.7) and start-up costs (website, equipment, certifications) before committing.

  1. List 3 marketable skills you can monetize this week.
  2. Check Upwork, Rover, and DoorDash pay rates in your area.
  3. Calculate start-up costs versus 90-day earning potential.
  4. Pick ONE hustle to start rather than spreading effort.
  5. Block 10-15 hours per week on your calendar.

2. Launch and Market Your Side Hustle

Set up your side hustle professionally in week one. For service-based gigs, create a free profile on Upwork, Fiverr, Rover, or TaskRabbit with a clear headline, three portfolio samples, and competitive pricing 10-20% below market for the first 10 reviews. For product-based hustles, open an Etsy shop, eBay store, or Facebook Marketplace listings with 5-10 quality photos and SEO-rich titles. Set up a separate business checking account (Novo, BlueVine, or Mercury โ€” no minimums) and a PayPal or Stripe account to track income cleanly. Buy a $25-50 starter kit only โ€” resist $500 courses promising secrets. Tell 20 friends and family about your service, post in two local Facebook groups, and offer a 10% launch discount for the first five paying customers to generate testimonials. Deliver early and over-communicate.

  1. Create polished profiles on Upwork, Fiverr, or Rover.
  2. Set prices 10-20% below market for your first 10 reviews.
  3. Open a free business checking account at Novo or BlueVine.
  4. Announce your service to 20 friends and 2 local groups.
  5. Offer a 10% discount to first 5 customers for testimonials.
  • ๐Ÿ’ก Free tools: Canva for graphics, Wave for invoicing, Notion for tracking.
  • ๐Ÿ’ก A single 5-star review doubles your booking rate on most platforms.

3. Manage Taxes and Scale Earnings

Side hustle income is self-employment income, taxed at your federal and state income rate plus 15.3% self-employment tax. If you expect to net more than $400 profit, file Schedule C and Schedule SE with your 1040, and pay quarterly estimated taxes on April 15, June 15, September 15, and January 15 to avoid IRS penalties. Set aside 25-30% of every payment in a separate tax account, and track deductible expenses โ€” mileage (67 cents per mile in 2024), home office ($5 per square foot up to 300 sq ft), phone, internet, software, and supplies. Once you net $1,500+ monthly consistently, scale by raising rates 10-25% every 6 months, hiring a virtual assistant ($5-$15/hour), or productizing your service into a course on Gumroad or Teachable.

  1. Set aside 25-30% of every payment in a separate tax account.
  2. Track mileage with Stride or MileIQ (worth 67 cents per mile).
  3. File Schedule C and pay quarterly estimated taxes.
  4. Deduct home office, phone, internet, and software expenses.
  5. Raise rates 10-25% every 6 months as reviews accumulate.
  6. Productize your service into a course on Gumroad or Teachable.
  • ๐Ÿ’ก Track every mile with the free Stride or MileIQ app โ€” worth 67 cents each.
  • ๐Ÿ’ก Open a SEP-IRA or Solo 401(k) to shelter up to 25% of net self-employment income.

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Disclaimer: This content is for general informational purposes only and does not constitute financial, tax, legal, or investment advice. Consult a licensed financial advisor, CPA, or attorney for guidance specific to your situation. Rates, limits, and program details change frequently โ€” verify with official sources like IRS.gov, Healthcare.gov, or USA.gov.

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