A side hustle is an extra source of income apart from a person’s primary income source from maybe a job or business. The concept of side hustles has existed for a while now. Side hustles offer a good source of funds for saving or investing in one’s future through purchasing stocks or shares.
However, the concept of side hustles has almost become a necessity in 2022. Inflation rates have risen over the past five years. In 2021, the global inflation rates were at 4.53%. Inflation rates signify an increase in the cost of products and services globally.
Inflation rates are a common concern for many people. This is because, for most jobs, the inflation rates are higher than the salary increment rates. This, therefore, means that people require an extra source of income to cater for the service and product price increments.
With the evolution of internet technologies, getting a side hustle is an easy task. There are numerous available side hustles that one can choose. In this article, we go through some side hustles that one can go for to get an extra income source in 2022.
Table of Contents
E-Commerce
The evolution of the internet from a mere source of information to a well-structured marketplace has created a unique opportunity. E-commerce platforms are software, applications, or websites where vendors can sell their products or services to customers.
Running an e-commerce platform requires less time dedicated to it. As a side hustle, you have a wide variety of products to choose to sell. They can range from sneakers, computing devices, music instruments, etc.
The only challenge in running an e-commerce is the stock purchase limits imposed on some stores. This is a common practice for sneaker stores. They impose a buying limit for various reasons. These limits can, however, be bypassed using a sneaker proxy.
The buying limits on sneaker sites use a buyer’s IP address to track their purchases. This means that even when you create a different user account to make a purchase, the site will still track you. The sneaker sales website will not see your IP address if you use a sneaker proxy. The IP address visible to the site will be the proxy server.
Car Hire
With the onset of the Covid-19 virus, most businesses or organizations advised their work personnel to work from home. This, therefore, meant that workers who had purchased personal cars were not using them as often.
Some people use their cars during the weekends only or when traveling long distances only. If you do not use your vehicle as much, hiring it out is a good source of extra income for you.
Car hire is a good low effort source of extra income. Currently, the average car rental rate is $109 per day in the USA. This figure depicts how lucrative hiring out your car can be. To ensure that your vehicle attracts premium renting rates, keep it clean and well-maintained.
Online Freelance Jobs
Source: Pixabay
The evolution of internet technology and remote work applications has created a reliable source of extra income for many people. The freelance industry is rapidly growing across the world. In 2019, the freelance industry contributed $1 million to the economy of the USA.
The freelance industry is robust, giving jobs to over 100 types of career paths. When considering freelance as a side hustle, it is important to note that freelance requires a lot of time dedication. The time allocation is worth it when compared with the earnings.
Hourly projects are an option for those who want to freelance but do not have the time. These are short tasks that are paid based on the number of hours it takes one to complete them.
Food or Grocery Deliveries
Delivery jobs have been on the rise globally, with the required number of delivery personnel rising daily. As a person seeking a side hustle, you can use your free time to make home or office deliveries to various people.
There are many available mobile applications or delivery websites where you can sign up on. The platforms will link you with fast-food restaurants, businesses, individual people, etc. looking to make deliveries.
This side hustle does not require a lot of money to start. This is because you can sign up on the platforms and use any transport means to make the deliveries. For short distances, delivery personnel can even use bicycles.
According to Indeed, the average hourly income for making deliveries using the Uber application is $15.39. Delivery services are an easy go-to choice for people looking to make extra cash.
Cab Services
Cab hailing applications have become popular all over the world. Their popularity signifies their usage statistics across the world. Cab hailing applications have replaced conventional taxis.
This presents a unique opportunity for people who have some extra time. You can opt into a cab-hailing application as a side hustle. This is a good go-to option for people who are not okay hiring out their cars to random people on the internet.
The convenience of cab-hailing applications is that you can work at your convenience. Those going home from work or vice versa can enroll in a cab-hailing application in the evening. This will help them make extra cash on their daily drive home.
When looking into enrolling in a cab-hailing application as a driver, you have to keep the laws of commercial or public service vehicles in mind. A crucial law to keep in mind is that cabs do not use regular vehicle insurance. In the state of California, for example, a cab has to use a taxi or cab insurance from a valid insurance company.
Conclusion
Before choosing the side hustle to go for, there are three fundamental questions that you should seek to answer first. What is your schedule for working on the side hustle? What is your target income from the side hustle, and do you seek to grow your side hustle into the primary income source?
Getting comprehensive answers for these questions will help you to easily choose a side hustle that will suit you perfectly.
