2020 is a new beginning for people who want to earn a bit more cash in their free time. You can increase your profits by integrating side hustles into your daily routine, which allows you to boost your savings, manage your expenses and have a better lifestyle. So, let’s get into the best side hustles of 2020.
Whenever I scroll across social media, I come up with dozens of advertisements offering a high pay for a side hustle. Wait! Is that true? You need to know what side hustles pay off, rather than working endlessly for almost nothing.
This list is far from complete, but I have come up with a set of side hustles that will pay a reasonable amount and have plenty of work available. You could end up saving several hundred dollars to almost a thousand dollars per month by utilizing your free time.
Wouldn’t it be great to find a side hustle that can boost your earnings by $1000 or more? Freelancing can make that possible. It also allows you to work around your schedule. The best part is, you don’t need any special expertise to become a freelancer.
Freelancers work in multiple niches from graphic design and web development to writing and translation. Multiple websites are connecting employers to freelancers such as Upwork, Fiverr and People Per Hour. All you have to do is get registered and start hunting jobs. You can work in any field depending on your experience and skill, potentially earning hundreds or thousands of dollars in the field of your choice.
One of the first questions you might have about freelancing is, how much does it pay? You can actually earn several hundred to several thousand dollars a month from freelancing. Freelancing allows you to charge on an hourly basis as well by project. The wage generally starts around $5 for a small project and continues to as much as $1000 or more for larger or more complicated projects. If you are skilled in a particular freelancing area, the world is
yours. You might be asking how much you can earn by freelancing; it depends on how much you work.
Freelancing has become the highest paying side hustle in recent years and has expanded the economy over the years up to 6%. Many freelancers say they earn more by working in their free time rather than the typical office job. The only hurdle to freelancing is dedication. Your freelance career will generally be a slow start but if you are committed to earning and stay motivated, it will eventually pay off!
When it comes to working at home, a virtual assistant can be a good option. There are a lot of employers who need remote workers to manage tasks for them and they are paid a considerable amount. So, how much can you earn? I would say it’s one of the highest-paid side hustles.
Virtual assistants can get paid two ways; either hourly wages, or a monthly salary (however, hourly is more common). The top earners can make up to $30-$40/hr, but don’t expect to land a job like that right away.
Working as a virtual assistant might mean managing websites, social media pages, providing professional advisory and assistance services and much more. You can find these jobs on websites like Fiverr, Upwork, Handy, Hellorache and others. It might be a slow start, but once you are experienced, you could earn a lot.
Most of us want to make money with less effort, right? Is there any side hustle that pays me for doing something easy without any special skills? Yes! Babysitting. Babysitting is a side hustle that allows you to earn by doing little or sometimes, no work at all. You might think, “it can’t be a well paid side hustle if it’s that easy”. What if I told you that babysitting can pay up to $15 to $20 per hour?
The benefits of babysitting are:
You are well-paid
There isn’t a huge workload
You can make money with low physical activity
People also pay for pet care (especially dogs). So a similar side-hustle could be dog sitting or walking. People often find it difficult to spend time with their dogs or take them for a walk,
So you could help them out and earn some money. People aren’t going to stop having pets or babies, so this side-gig is not likely to be a “one-time thing”.
This side hustle that has no boundaries. Flipping involves purchasing items for a low price and reselling them at another market place for a higher price. You can purchase products from anywhere that you find a good price (garage sales, thrift stores, etc) and resell them on Amazon or E-bay. You just have to make sure that you check the used resale price before you spend any money on inventory. Flipping small products can help you earn around $4 to $10 or more depending on the product whereas you can earn up to $50,000 if you scale up to house flipping
I’d say this is a good side hustle even though it’s risky, because if things turn out well there’s no limit to how much you can earn. You can also work it into your free time easily. If you buy smart, the world is yours. You can make bigger profit margins by house flipping, but it requires more time and resources before you make a profit. You might be wondering if this is something you can handle, but just remember everything starts from scratch. This can be a great side hustle but, it does involve risk and requires some startup money.
Food delivery has never been more in demand, or easier to start doing! This is another great side hustle because you can set your own hours. Realistically, you could earn an extra $200-$500 a week depending on how much time you put in and the order volume when you work.
Various platforms pay for food delivery which average about $12-$15/hr, sometimes $20+ if the order volume is high enough. Some of the platforms you can deliver through are DoorDash, Postmates, Instacart, and Shipt but there are plenty more. I recommend delivery as a side gig because of three main reasons:
It has a decent pay rate
It is flexible work so you can work around your schedule
The market is growing every day
You might find yourself saying things like “I need a highly paid side hustle” or asking “Can my education help me get a better side hustle?” It might be hard to believe, but tutoring is by far one of the highest-paid side hustles.
In fact, tutoring can help you earn thousands of dollars a month, but it requires a special skill-set. People can earn $30-$100/hr or more. This may sound great, but you need to have a firm grasp on your subject and usually some sort of degree or qualification.
You should consider your strengths and find an area of expertise, a niche where you believe no one would be able to beat you. Then, you can set up some advertisements and start finding clients. Tutoring in one area you know a lot about is better than offering multiple options without as much knowledge. If you work hard, you can earn a lot. Once you’re experienced, you could eventually charge up to $120/hr or more. It’s the best opportunity to cash in your education and skills.
In my experience, these side hustles are some of the best and highly paid side-gigs that can boost your earnings and contribute to the economy. You should always be careful choosing side hustles since a lot of them don’t pay out enough to be worth your time. As always, I hope this helps you patch your pocket!