7 Side Hustles To Put Extra Money in Your Savings

A variety of factors, from job market conditions to inflation and broader concerns over our economy, have made it so that many Americans can no longer rely on a single household income to support their families.

In fact, a 2022 report showed that 40% of Americans balance a side hustle with their primary job.

While most side jobs aren’t substantial enough to equate a living wage, they do provide dedicated workers with an outlet to develop skills they may already have and make some money in the process. In some cases, the experience earned might even blossom into a true entrepreneurial venture, allowing workers to start their very own businesses.

Let’s discuss some of the most popular side hustles you might want to consider.

Make or Sell Your Own Items

If you make anything, whether craft projects or baked goods, you could be sitting on a potential moneymaker. Likewise, if you have a creative itch you’re dying to scratch, you might be able to do so and monetize it at the same time. E-commerce sites and creator marketplaces like Etsy make it easy to sell your product to consumers that are interested in your product. It’s also a good opportunity to learn how to build and promote your own website.

Online Tutoring

Just because you have knowledge in a specific area doesn’t mean that others share your expertise. In this case, you might be able to find work either through the creation of online courses or by becoming an online tutor in math, science or another subject for today’s school-age students. Tutoring websites can help you to break into the field. Plus, you can’t put a price on the fulfillment of helping kids who might otherwise be struggling in school.

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Become a Ride-Share Driver

Ride-share services have had a game-changing impact on the world of transportation. Anyone with a license can become a driver, providing you with yet another route (pun intended) to consider as you contemplate which side hustle best fits your schedule. It won’t necessarily be the most consistent money, and you’ll have to account for the fact that you cover gas and other expenses related to your car. Beyond that, you’ll have lots of chances to whip up some extra money.

Start a Freelance Business

If you have specialized knowledge or experience, you could also start your own freelancing business. Tons of companies are open to fully remote freelance work for a number of disciplines, including writing, coding and graphic design. Freelancer websites make finding these opportunities easier than ever, giving you the chance to tackle other projects in your downtime. Imagine gaining valuable experience that can pave the way for your professional future. Just be sure your freelance work doesn’t present any conflicts of interest.

Meal Delivery

When you don’t feel like cooking, what do you do? These days, you simply browse any of the many meal delivery services available. These companies work with local restaurants to provide delivery services, and much like the ride-sharing role above, the barrier to entry is low for aspiring drivers. Some companies don’t even require that you own a car to do so, just be sure to check which services operate in your area. Even if it doesn’t fit your side hustle goals, you’ll probably find exactly what you want for dinner tonight.

Virtual Assistance and Other Tasks

Besides a dedicated meal delivery service, you could perform a similarly helpful function by becoming a virtual assistant. The job description varies wildly depending on your employer and their business, ranging from making calls to social media management. There are online services for aspiring VAs and employers that will connect you to a company with needs that match what you’re qualified (or willing) to do. There are also companies that focus on tasks like running errands, moving and home repairs.

Babysitting and Companion Care

Traditionally, babysitting is a first job for teenagers or college students looking to make a little extra pocket money, but it’s a viable side job for anyone who likes and works well with kids, especially parents whose own children are now grown. Similarly, companion care –  which boils down to spending time with and taking non-medical care of senior citizens – is a great way to earn a little money, while at the same time forming a true human connection.

Of course, with today’s technology, the possibilities are endless. Since you have so many potential side hustles to choose from, be sure that you select one that matches your interest level and, if possible, your existing skill set. Remember that side hustles are known as such because they often don’t yield significant income at first. Your passion and dedication, however, promise to carry you through this early period and prevent you from burning out before your investment begins to really pay off.

If you are looking to build your nest egg, a little side earnings just might be the ticket. Learn how AAA and Discover Deposit Programs can help your with your savings goals.