Financial freedom is the goal that we are all chasing. And sometimes your 9-5 income isn’t enough and you want to speed up the process. But with most of us working full-time jobs up to six days a week, working a side hustle and creating a source of passive income can be a difficult task.
Notice how we said difficult and not impossible? We have compiled a list of 8 online side hustles that you can do while working a full-time job to create a source of passive income and fast-track your journey to financial freedom.
1. Freelancing
Freelancing has become one of the most coveted side hustles around the world. To explain it in very simple terms – freelancing is when you offer your services to a client or project manager on a project basis all on your own without being employed by someone else. Freelancing has spread out to writing, graphic designing, painting, proofreading, website development and so much more. There are no restrictions on freelancing anymore. Anyone can do anything. If you’re good at something, sell it as a skill and earn some extra cash every day.
There are now multiple platforms that make it way easier to be a freelancer. Fiverr and Upwork are two of the most popular platforms offering anyone and everyone the space to become a freelancer. All it takes to start is to sign up and create a profile to start working as a freelancer today. Putting up gigs based on your skillset has never been easier or more convenient. In case you don’t know what your skill set is yet, find a category that excites you and learn the skills needed to become a pro for free with online resources, such as Youtube, and step into the market.
2. Blogging
Social media has become one of the most interconnected, widespread, and influential tools in the world today. Anyone can log on to different social media sites and networking websites and simply create and post content that resonates with them. Becoming a content creator has never been more accessible and free for all. Blogging, in particular, spans a huge range of niches for everyone to enjoy. Do you love food? Blog about it. Are you into fashion? Blog about it. Do you love music? Blog about it. It is that simple. Getting your thoughts across for others to enjoy is simple, effective, and efficient – all in one. Blogging makes for one of the most fun side hustles for anyone. You choose what you want to blog about and the rest comes with time. Over time, blogging can lead to paid promotions, brand advertisements, and more, which then become another source of income in the long run. Blogging also creates a space where you can venture into other more creative things including amateur photography, making short videos, and so much more. It all depends on YOU!
3. Become a Social Media Manager
Brands and companies are being established and introduced left and right. With this, there is a growing need to have a digital and social media presence for all these brands and companies. No company can truly succeed today if it does not have an invested effort into building their online brand and digital identity. It’s simple enough but requires a lot of discipline and consistency which company owners and brand founders do not always have the time to put the needed effort into their social media. Hiring social media managers has become a common practice. All it takes for you to become a those social media managers is understanding the platforms, understanding the brand, and how to connect the two. Add a bit of discipline and understanding data and you can be one of the most sought-after social media managers out there! There’s nothing stopping that from happening and all from the comfort of your home as well! Social media management is not only relatively stress-free but also more fun when considering the creative part of it.
4. Dividend Investing
Investing in dividend stocks is the original side hustle and form of passive income. Starting this side hustle is simple, just open an investment account and buy stocks and ETFs that pay dividends. Dividend stocks give you a regular income stream while also having a capital appreciation on the stocks. Dividend investments can be tricky and are not recommended to just anyone. But if you have the financial acumen, you have the right rational mind, and can think of long-term strategies, this is the ideal side-hustle for you. Prepare to take risks with this one, however. It is not always sunshine and pay-offs – some days are rough with market fluctuations. But, this still requires the least work to get started and has the most upside. If you’re motivated to dive into this side hustle then click this link to set up an account on M1 Finance and get $50 for free when you fund your account.
5. Transcribing
Two things in the world that have greatly impacted the world of transcribing today – are digital content and globalization. Languages are a powerful tool and if you have mastered one, you are already on the right track to become a good transcriber. Most people asking for transcriptions provide video or audio pieces that need to be transcribed in a simple format. If you have command over the intended language, the job is easy enough and pays well. No fancy tools, no complex requirements. It is probably one of the simplest side hustles you can find today. It is hassle-free, requires less time and energy as compared to most of the other side hustles listed here. Clients are often lenient with the transcribing as well as offering a wide range of rates as well. Starting it is the only hurdle for any and all looking for an easy side-hustle. Transcribing also gives way to side hustles in translating, scriptwriting, and more – all of which are good, easy money.
6. Personal Training & Coaching
The internet is a wide network of people from all across the world, all with varying needs, requirements, and things they need help with. If you have a skill – particularly one that can be translated into coaching and consultancy, another side hustle is personal training and coaching virtually. Fitness, in this aspect, has become one of the most sought-after fields for personal training. People from all around the world are coming forward as at-home virtual personal trainers and helping hundreds, thousands even millions of people at a time become a better version of themselves. If you know your way around diet and fitness, you can be one of those personal trainers. That’s not all! There are other aspects you can become a personal coach in. Life coaching, career coaching, even fashion coaching, and more are all valid and extensive parts of this side-hustle. Anyone can choose to be anyone and coach in their respective expertise.
7. Virtual Teaching
Schools, colleges, universities, and most other academic institutions became virtual or distance learning platforms over the course of the pandemic. While there were drawbacks to the virtual education system, a good thing this system did was introduce the concept of virtual teaching across the world. Someone sitting in Texas can now teach Calculus to someone sitting in Arizona or anywhere else. It’s a side hustle easily started from home and can be scaled up depending on the needs and time or energy available to invest forward. Virtual teaching is not limited to academic endeavors only. It can be done for other skills and programs as well including knitting, painting, dancing and so many more. Virtual teaching allows for cross-border connection and earning. It is online, it is free to start and it all depends on YOUR schedule and time to spare. Virtual teaching can also be done in courses with pre-recorded sessions that you can sell as products!
8. Affiliate Marketing
Brands and companies are desperate today to ensure that the word about them gets out to as many people as possible, create an identity that people recognize, and create an integrated target market for them through minimal effort. Hiring and/or recruiting affiliate marketing managers or marketers is the easiest way for brands like this. Affiliate marketing allows you to become an ambassador or representative for a brand from the comfort of your home, promote their product or service and gain incentives through it. There is no iron-clad contract, no prerequisite terms. It is a need basis side hustle where you set your own terms and create your own routines. Affiliate marketing also often pays better than most side hustles because doing it properly would mean brands are conscious of the energy you invest and the effort you are crediting to them.
Summary
We hope this article helped you broaden your options for creating passive income and starting new side hustles. If you found any one of these side hustles suitable for you or interesting, give this article a like. Let us know in the comments what other side hustles would you like to add to the list!