- Side hustles are becoming increasingly common these days.
- There’s a wide range of them, after all, from driving for Uber to making passive income from selling e-books.
- Here, 13 people share how much money they’ve made from their side hustles.
Side hustles are becoming increasingly common these days, especially with the popularity of apps and platforms such as Uber and TaskRabbit. While some people are driving for Uber in their spare time, others are making passive income from e-books or products they sell online through sites like Amazon or Etsy.
The online investment company Betterment found that 67% of people with a side job are doing them primarily for financial reasons, such as paying off debt and saving for retirement. This figure was based on a survey of 1,000 Americans 25 years or older — 500 of whom have a side hustle in addition to their full-time job and 500 of whom rely on their side hustle as their main source of income.
According to the Intuit 2020 Report, nearly a third of US workers today are freelancers. „And this figure is expected to grow to 40% by 2020,“ Andrew Westlin, a certified financial planner (CFP) and a financial planning professional at Betterment, told Business Insider in an email. „More and more, workers are supplementing the traditional ’nine-to-five‘ career with independent or temporary work.“
Westlin said a major benefit of starting a side hustle is the opportunity it provides to diversify your income. „A diversified income can be a key component in planning for your future,“ Westlin said. „Even if the side hustle does not appear to be quite lucrative in the beginning, every dollar adds up along the way.“
Here, 13 people share how much money they’ve made from their side hustles. (Responses have been condensed and edited for clarity.)
1. Scott Van Daalen, 23, wedding company: $12,000 – $14,000 a year
My full-time focus is on graduate school as I work on my master’s degree. I was inspired to start a side hustle for the flexibility that it provided; I could work and make money on my own timetable. As my side hustle, I run a business called The Wedding Collective, which helps brides book a bunch of vendors in one place.
I do it because I really love the wedding industry and providing couples with a way to plan their weddings with less stress. I have been doing this for about five months, and I am projecting that I will make about $6,000-$7,000 this year. Next year, I am hoping to hit $14,000.
2. Crystal Bowe, MD, MPH, 38, children’s book author: $1,000 – $1,500 a year
In addition to being a family medicine physician, I have a „side hustle„: I have written three children’s books and one coloring book. I started almost two years ago, and did so with the goal of creating diverse literature for children like my daughter.
To me, the best part about it is having a creative outlet that is different from medicine, being able to try something new, meet new people in the process, and even make a little money from the venture! I have made $2000-3,000 dollars so far, which has been an added perk!
3. Jason Butler, 35, eBay: $5,400 – $7,200 a year
I’m a senior financial aid counselor at a local college. As my side hustle, I sell items on eBay; my eBay store is Atlanta Mart. I’ve always liked selling things, so I decided to give eBay a try, and I’ve been selling on and off for nine years. I got consistent with it in 2017 and sell on eBay to help pay down my debt.
The best part of having a side hustle is being in charge of what you make — the more items you list, the more money that you’ll make. Right now, I make between $450-$600 per month from it. I also blog about side hustling and paying off debt at TheButlerJournal.com.
See the rest of the story at Business Insider
Source: Business insider