What are the best side hustles for passive income?
While many side hustles begin as a way to earn some extra cash, many turn into a full-blown vocation, which can often be passive.
Be it to pay off your debt, save for a vacation or down payment for your house, or to make ends meet, having a side hustle that leverages your interest and skill is a great idea.
Studies show that at least 44% of Americans have a side hustle to help them earn more.
And depending on your interest and needs, you can land side hustles that you can work on from the comfort of your home and even make a passive income by selling products on platforms like, Amazon or Etsy.
Read on to explore the best side hustles of 2022 and get an insight into the following questions:
- What is a side hustle?
- What side hustles pay the most?
- Is investing in real estate a good side hustle?
- What are the best side hustles for college students?
What Is a Side Hustle?
Unless you’ve been living under a rock, you must be familiar with the side hustle trend that has been going on for a while now.
Side hustle means an occupation or a job that is subordinate to your full-time job.
It is a job that doesn’t serve as your primary source of income, but is something that you do on the side to earn more cash and stay productive.
You can either start your own side hustle by selling products online, etc. or you can also take up freelance projects, part-time or on-call basis work for a company.
Also, if you are someone who is considering trying their hand at entrepreneurship or business, getting a side hustle related to it is a great way to test ideas, explore passion, and gain more insight into the industry without quitting your day job.
Some examples of good side hustles to make money include:
- Selling products or services online
- Teaching online courses
- Babysitting, dog sitting, or house sitting
- Opening up a cloud kitchen
- Providing food and grocery delivery services
- Doing surveys
- Renting out your car or property
Best Paying Side Hustles
The best side hustles are those which not only help you make extra money but also serve as a backup when and if your main income source stands jeopardized.
If you are looking for ideas, listed below are some side hustles that pay well:
Sell Products Online
These past few years, online shopping has become all the rage. According to studies, e-commerce sales for 2021 were estimated at $870.8 billion.
From second-hand furniture and clothes, to handmade products, you can open up an online store or sell these products on bigger, established platforms like Amazon, eBay, Etsy, Shopify, Craigslist, Facebook marketplace, etc.
The best part about starting a small online business is that you don’t need to make huge investments or commitments beforehand.
Simply ensure that you put up good quality pictures of your products with good lighting and a brief informative product description.
Rent Out Your Car
If you have a spare car in your garage, you can rent it out and make good money.
You can register your car in applications like HyreCar, Hagerty, DriveShare, and Turo, which allow you to rent your car in some cities.
The service is like Airbnb, but for your car and you can make up to $500-$1000 per vehicle that you rent out.
And if you don’t trust your car with strangers, you can also register with Uber, Lyft, Curb, and similar companies and work as a part-time driver when you have free time.
Invest in Real Estate
Instead of leaving your hard-earned savings in the bank and not leveraging it to grow your income, consider investing it in real estate to earn passive income and double your money in the long run.
If you invest your money in a flat or a house, you have 2 options - you can make tasteful renovations, upscale the resale value and earn a good profit by selling it or you can give it out on rent or lease.
Another option open to you if you want to do something else in the real estate industry is to get a real estate agent license and start selling houses in your free time.
Start a YouTube Channel
From an array of niche options to choose from, you can start your own YouTube channel with or without being in front of the camera.
You can start with home and lifestyle vlogs, makeup tutorials, reviews, cooking videos, gaming, ASMR, mukbang, etc.
You can even make videos based on your main profession. For instance, if you work as a software developer full time, you can make videos with tips and best practices around your area of expertise, etc.
You might not start making money right off the bat when you start a YouTube channel but with consistency and some time, YouTube can become a lucrative side hustle or even a full-time career.
Become an Online Tutor
If you are a native English speaker or are academically gifted in specific subjects, you can take up online classes and tutor high school or college students.
Depending on your schedule, you can dish out a few hours every other day and conduct online classes.
And in case personal tutoring and academic subjects are not your forte, you can create e-books and guides, or offer online consulting services on your area of expertise.
Plus, by creating e-books and one-time boot camp courses, you don’t have to regularly devote time to it, as it becomes a passive source of income.
Provide Services that Cannot Be Automated
To ensure that your side hustle guarantees need in the market and brings in good bucks, offer services that cannot be done online or automated.
Think house sitting, dog sitting, babysitting, etc.
Depending on your capability, interest, and the level of responsibility you’re willing to take, you can take up any niche.
You can register in apps like Wag and Rover to offer pet walking and pet sitting services on demand and earn some extra bucks!
Best Side Hustles for College Students
Given below are some of the best side hustles that college and high school students can take up and earn good bucks:
|Food & Grocery Delivery
|Local Tour Guide
- Side hustle by definition means an occupation or a job that is subordinate to your full-time job.
- You can either start your own side hustle by selling products online, etc. or you can also take up freelance projects, part-time or on-call basis work for a company.
- Babysitting, dog sitting, house sitting, and doing paid surveys are some examples of the best side hustles.
- Other good side hustle ideas that you take up are selling products online, renting out your car, investing in real estate, making a YouTube channel, and becoming an online tutor.
Visit Hiration’s Career Activator Platform with 24x7 chat support if you want to find the best side hustles to support your career and income.