Did you know that 43% of millennials need to find side gigs or a second job to make ends meet? According to the American College of Education, that is.
Many millennials struggle to find well-paying jobs after college. A recent study has revealed that 69% of college grads from the Class of 2017 struggled to find jobs in their field. They were forced to take low-wage positions in alternative industries instead.
This is why many young professionals have taken up side hustles instead of full-time jobs.
It’s a way to supplement their income and get back on track financially.
Table Of Contents
- What is a Side Hustle?
- 7 Types of Side Hustles That Millennials Love
- 6 High-Paying Jobs for a Good Side Hustle
- 6 easy side hustles
- How To Make Money With A Website Without Selling Anything
- Conclusion
What is a Side Hustle?
A side hustle is an additional source of income that is created on the side. It’s often done as a way to make more money outside of a person’s 9-to-5 job.
Some people have very unpredictable work schedules. Having a reliable side hustle can help them bring in extra cash to make up for any slow weeks or unexpected expenses.
Other people might be looking for an easy way to make extra money without sacrificing their time or health. Side hustles can vary widely.
Some people make money by selling items online, driving for ride-sharing services like Uber or Lyft, completing online surveys, renting out their spare room on Airbnb, or doing freelance work remotely. The possibilities are endless!
No matter what you choose to do, remember that your side hustle is not your primary source of income. Your primary job should always take priority.
In my opinion, a side hustle is best when it complements your hobbies or field of interest. Only then it won’t feel like a job, which is necessary if you’re playing the long-term game. Said otherwise, you need to invest time and energy on a consistent base. If you pick a hustle that doesn’t spark something inside you it’s hard to keep going.
Without further ado, let’s look at some side hustles.
7 Types of Side Hustles That Millennials Love
Selling online
Whether you’re blogging, doing online research or reviewing products, you can earn money via online platforms like Amazon.
In the Netherlands and Belgium, we’ve got a similar platform called bol.com. It even offers a list of product search queries that have low offerings. They call it the white list. I didn’t do research yet but chances are that Amazon has a similar thing.
Looking at a more fashionista approach. The booming market of vintage clothing offers great chances. There are platforms like Vinted where you can sell your second-hand clothes. If you get the hang of it you could start flipping clothes you find at yard sales or second-hand stores. Some local stores near me (I know of 5 at least) sell perfectly fine clothes for as low as 0,50 cents. Getting a 5x return on your investment doesn’t feel impossible.
If you’re not into fashion. You could do the same with almost anything you find at yardsales and second-hand stores. Like mugs or toys.
You can search for the recent sale results on eBay as Gary Vee does in this video to find out if a product is worth the investment.
Data entry
If you have skills in transcription or internet research, you can work online and earn around $30/hour.
Looking to get a side hustle in this field? I’ve listed 20 remote job websites in this article. So you’re just 3 clicks away from your next job.
Tutoring
If you have a skill or expertise, you can make money by tutoring online and helping students of all ages learn more effectively.
Whether it’s guitar lessons, math, Spanish or English. There’s always demand for good tutors.
Looking to get a side hustle in this field? I’ve listed 20 remote job websites in this article. So you’re just 3 clicks away from your next job.
Freelance writing
Whether you’re a great fiction or non-fiction writer, you can get paid to write for content mills or blogs.
Job sites like Upwork and Fiverr are great places to get started.
Or check out the work-from-home writing jobs on our Job Board right here.
Driving
If you have a car and a clean driving record, you can earn money by driving for Uber or Lyft.
I even heard a really cool story of someone who started a limousine business and now has over 15 cars.
What he did was offer rides for very low rates. This way he exceeded the expectations of his customers (who did not expect him to arrive in a limousine). It was unprofitable at first, but the massive number of clients he got (who all left insane high ratings) skyrocketed him in the Uber rankings.
It’s some sort of “SEO for Uber” hack. Make sure people find and trust you, then exceed their expectations. Finally, adjust your price accordingly to become profitable.
Freelance work
If you have skills in graphic design or web design, you can earn money by completing freelance projects for people online.
I’ve written about a nice side hustle idea for graphic designers right here.
It’s a hustle that’s perfect if your freelance work doesn’t excite you. Basically, you create whole identities and sell them online. This way you can create work that really excites you. The so-called “how it should be done”. If you’re a designer you know what I’m talking about. The ever-lasting fight over designs and changes.
Data scientist
Data scientists analyze data to find insights and new business opportunities.
I’m not a tech-savvy data scientist, but I wrote an article on finding opportunities for growth in your existing processes right here.
It sounds fancy but it’s pretty much common sense. And I believe that anyone can do it. Just learn how to ask the right questions and before you know it you found new ways to increase profits. Perfect for yourself but also to leverage as a side hustle helping other business owners do the same.
6 High-Paying Jobs for a Good Side Hustle
High pay equals high risk, high skills or high consistency.
In other words, these hustles can cost you a lot in terms of invested money, invested effort or invested time.
Investment advisor
Investment advisors can make a lot of money, but the industry is highly regulated.
If I look at the Instagram side hustle I’m in, I see a lot of investment influencers trying to make bank.
Most are just duplicating the obvious. Some are actually solid investors. The main identifier to filter the crowd is this single line:
Don’t tell me what you’ve bought, show me!
In other words. Don’t tell me what stocks to buy, show me your portfolio.
If your portfolio is looking great, you could leverage your skill to become an adviser or influencer (content creator) on the topic.
Financial Advisor
Somewhat similar to the previous side hustle are financial advisors.
Financial advisors help people manage their finances and plan for retirement.
The easy part here is that you don’t need to have a kick-ass portfolio. You just need to know how to handle your money. And how to teach others to do the same.
Dave Ramsey style.
Stock trader
If you have the right financial experience, you can make money by trading stocks online.
Don’t overthink it. A very simple investment strategy is to put a vast amount of money into an ETF every month. The S&P500 for example is an ETF. Basically, you’re buying a little bit of the 500 biggest companies in the US.
New investors often overthink what’s needed to succeed. But basically, you just need to buy for a similar amount every month. Treat it like a savings account. Whether the price is up or down, just buy your 100$ ETF. In the long run, money is devaluated so prices go up. Giving you a positive return on your investment.
This topic is a little too complex to dive all the way into. If you want to read more on the above strategy I recommend you read this article explaining the principle also called The Midwit Trap and additionally this article by Nick Maggiulli on whether or not to invest more if the market is down.
If you’re looking to educate yourself more on the topic of investing. In particular swing trading. I recommend you check out Gerald Peters. He shares a lot of free knowledge and offers some great books, courses and a community on the topic.
Software engineer
If you have the right coding skills, software engineering can be a good side hustle. RemoteOK is a great website to find your next remote job in coding.
If you don’t have the skills yet, I’ve listed 10 free videos that teach you how to code right here.
Business management
If you have management skills, you can make money as a business consultant.
I’ve linked to this before, but I believe in the hustle. So dive into the ways to find opportunities in your existing processes right here. And addition the three rules I gave a coffee shop that doubled their revenue.
It gives you some different angles to approach your consultancy hustle.
6 easy side hustles
If you’re in a bind and need some quick cash, then you can consider one of these side hustles.
Online Surveys
Online surveys are one of the most popular ways to make money online, and they’re perfect for millennials. Most online surveys pay between $1 and $5 per survey, and you can take these surveys as often as you’d like.
Amazon Mechanical Turk
Amazon Mechanical Turk is a side hustle that you can do from anywhere, and you can earn anywhere from $1 to $10 per task.
Etsy
If you have a knack for arts and crafts, then you can make money on Etsy by selling your handmade items.
Dropshipping Print on Demand
Dropshipping is a great way to make money with your spare time, and you don’t have to have any inventory.
I’m not a big fan of the most popular use. Namely to buy cheap stuff via AliExpress and try to flip it for a higher price. It does happen, but I’m a firm believer that this ‘scam’ is going to break you up in the long run.
What I do consider to be a fun side hustle is dropshipping print-on-demand items. If you’re creative or know your way around designing you could create custom shirts, hoodies, or phone covers. You don’t need to buy the actual inventory. Just connect your website with a business like Teespring or Printeers (for mobile phone covers). You display your products and when an order comes in they print it and fulfill the order.
Create content for CEOs
Basically, you help business owners translate their knowledge into content. Content they can then share on LinkedIn or other social media platforms. This way they establish preeminence which helps them close more and better deals in the future. It’s basically getting out there but in a digital way.
I’ve described this hustle in-depth in this related article.
Rent Your Spare Room
If you have a spare room, then you can rent it out to people who are looking for a place to stay.
Become a Substitute Teacher
If you have a degree in a field that you don’t use, then you can become a substitute teacher.
How To Make Money With A Website Without Selling Anything
If you have a website, you can earn money without selling a single thing. This is called affiliate marketing, and there are tons of companies that will pay you for directing traffic to their website.
You can also create a blog and include affiliate links in your posts. This will lead people to your links, and you will earn a commission from the sales that your links generate.
A third option is to connect Google Adsense or Ezoic to your website. This way Google or Ezoic can display ads on your website that, if clicked upon, generate some revenue for you.
In all three cases, however, you’ll need to have traffic. If no one visits your website there is not much to be earned.
In order to master this craft you need to know how to rank your website on Google using SEO. I’ve made a detailed guide on Learning SEO right here if you want to learn more.
Conclusion
As you can see, there are plenty of side hustles out there, but you do need to do your research first.
Never jump into any job that doesn’t seem legitimate, and always make sure that you have the skills to back it up. That way, you can make a decent amount of money while still having enough time to pursue your primary career.
Good luck!