When struggling to make ends meet and cover the cost of living, people usually have two alternatives: spend less or take on extra work to earn more.
Today withoutpacing wage growth and the expiration of federal pandemic relief programs, many Americans are looking to stretch their dollar as much as possible. This may mean cutting costs around the house by removing streaming subscriptions and , for example. But when you’ve already cut costs to the bone and feel like you can’t cut expenses anymore without giving up basic necessities, it might be time for a second job or a scramble.
Three-quarters of middle-income Americans sayto pay the cost of living, according to a recent survey. At the same time, more people than ever are working two full-time jobs, working more than 70 hours a week. In June, 426,000 people were working two full-time jobs, down from 308,000 in February 2020, according to federal labor data.
For workers with plenty of free time and energy looking to earn some extra cash, these hustles — part-time flex jobs — can help bridge the gap between your regular income and expenses.
How to make money on the side
People can earn money doing tasks ranging from web design to less specialized activities like dog walking or even just providing companionship to a stranger.
“There are so many alternatives right now,” said Kathy Kristof, founder of Side Husl, a site that reviews gig-saving apps and platforms. “There are all these platforms online that invite you to sign up and earn money from them, and you can do almost anything by logging into the right platform.”
For example, Wizedemy allows users to set their own rates for tutoring students in a range of subjects, allowing them to keep 100% of what they earn. Tutors generally charge between $30 and $100 per hour.
“The tutoring options are great. You can teach anything, music, math, English, foreign language, drama, athletics – for any subject there is a tutoring site that will help you market that skill or this service to others,” Kristof said.
An app called Rover is another popular platform, especially among dog lovers. Users can register to walk their dog, sit their pet, or provide other animal care services. You set your own rate and earn about 75% of the fees. According to SideHusl, some of the app’s top earners are making over $1,000 a month sitting a dog.
Who takes the side hustles?
While workers of all ages are eager to earn extra cash, Americans, whether early or late in their careers, tend to be more interested in hustles.
“They are very popular among young workers and older workers. We see a lot of people working through their financial problems on both sides. Young people trying to pay off their school debts and start saving, a parallel stampede is a great way to earn that extra money to make ends meet and pay off debt,” Kristof said. “Then we see it on the side of retirees or near-retirees, people who don’t have saved enough or who fear that they have not saved enough.”
Alex Atwood, founder and CEO of GravyWork, a site that helps people find flexible part-time jobs in travel, hospitality, retail and other industries, said he’s seen a huge increase in number of candidates connecting to the site.
“We’re doing phenomenally well on inflation,” he told CBS MoneyWatch. “For our users, the money they make on the app is money spent. Often their nine to five goes into a savings account, and that way they can go out to dinner, buy a console games to their kids or upgrade their iPhone.”
Other hustles involve earning money from things you own. For example, a number of resale platforms allow you to sell second-hand clothes and goods online, but they tend not to be very lucrative. ThredUp, an online thrift store, allows users to sell and buy second-hand clothes.
For items purchased for less than $20, the seller earns between 3% and 15% of the sale price. Sell a t-shirt for $20 and you will only earn $3. But for clothes that sell for $200 or more, you earn 80%.
If you have a car, a swimming pool or a house
If you have more valuable assets, like a tennis court or swimming pool, you can rent it by the hour for a pretty penny.. Rates charged by users range from $30 to $100 per hour, with owners pocketing 85% of the fees.
“It’s something that helps people earn extra income in tough financial times,” Swimply co-founder Bunim Laskin told CBS MoneyWatch.
Individuals who have cars can also make money on their vehicles byand get paid just to get to and from work like they usually would.
Carvetise and Wrapify are the two major players in the mobile billboard market. Drivers can expect to earn between $250 and $1,300 per month on any given ad campaign – passive income that can be used to pay for fuel, making commuting free.
You can even rent your apartment or house by the hour for film and photo shoots. And no, it doesn’t have to be fancy.
“They’re looking for a style and an era, something that matches their history. So you could have an empty lot or a dilapidated, old, ugly house and it could be very popular because it fits that theme,” Kristof said. . .
Other ways to earn
There are dozens of other side businesses that can help people make money, including:
- Give cooking lessons through Cozymeal. Set your own rate and earn 20%-30% commission. Kitchen experience required!
- Use your technical skills to design websites or emails for small businesses, or troubleshoot or code for people who need help. Earn between $30 and $100 per hour. Market your skills on Fiverr or SMA Inc.
- Transcribe court hearings, police calls or company quarterly reports and earnings calls through Ditto Transcripts. Earn up to $1.10 per minute, depending on experience and recording difficulty.
- Work as a mock juror via online verdict or jury test and earn around $50 per trial.
- Thoroughly clean homes or offer just about any kind of service — from carpentry to furniture assembly — on TaskRabbit. Set your own rates.