Boosting Your Income with Side Gigs
Are you tired of living paycheck to paycheck? You’re not alone. According to a 2016 CareerBuilder survey, 44% of 25- to 34-year-olds supplement their income with a side gig. But how much can you really earn, and what’s involved?
Renting Out Your Home
Platforms like VRBO, Airbnb, and HomeAway offer a hassle-free way to rent out your place. John Liston, manager at home services platform All Set, considers it one of the best side gigs: it’s potentially high-paying and low-effort. Dayna Stephens, a 34-year-old actress in L.A., uses Airbnb whenever she’s away, earning $150 a night, which translates to $300-$1,500 a month.
Ride-Sharing
Driving for companies like Uber and Lyft is another popular side gig. Gene Caballero, 37, of Nashville, drives three or four nights a week, earning $50-$75 for two hours of work on weekdays and $200-$300 for four or five hours per night on weekends. However, don’t forget to factor in expenses like car washes and insurance.
Dog Walking
If you’re an animal lover, dog walking can be a fun and lucrative side gig. Dave Comiskey, co-founder of Barkly Pets, says they have full-time walkers earning $50,000 a year. Gabby Rains, 27, made $7,000 a year on the side through Rover, but recommends meeting the owner before accepting a job.
Fitness Instruction
Leading group fitness classes can pay off in more ways than one. Elizabeth Westbrook, a D.C. lobbyist and triathlete, teaches two or three spin classes and one bootcamp class a week, making an extra $600-$800 a month. To break in, get on an email list at gyms in your area or consider going freelance.
Food Delivery
With the rise of delivery companies like Postmates, DoorDash, Uber Eats, and Caviar, extra cash could be as easy as picking up someone’s to-go order. Kevin Brown, 30, an attorney by day and money blogger, delivers for many of those companies, making nearly $4,000 in 2016. He recommends using a bikeshare system and avoiding certain types of deliveries, like pizza and coffee.
Remember to always research the laws and stipulations for renting out your home, and track your expenses for tax purposes. With the right side gig, you can boost your income and achieve your financial goals.
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