Many people today find it challenging to manage their bills and pay off their debts. Starting a side hustle can be an effective way to alleviate debt anxiety, earn extra income, and tackle financial challenges. By generating additional earnings, a side hustle may help you pay off your debt more quickly.
In this guide, we’ll explore what a side hustle is, how you can make money from it, and highlight six of the best side hustle options available.
What is a side hustle?
A side hustle is any job or project you do in addition to your main job to make extra money. Unlike traditional part-time jobs, side hustles can often offer more flexibility and can fit around your existing schedule. Side hustles can range from freelance work and online businesses to providing local services. The main goal of a side hustle is to earn extra income to meet financial goals, such as paying off debt.
How to make money with a side hustle
To make money with a side hustle, it’s important to find opportunities that suit your skills, interests, and schedule. Here are some tips to help you get started:
Use your skills: Pick a side hustle that uses your existing skills and knowledge. This will make the job more enjoyable and increase your chances of success.
Be flexible: Choose side hustles with flexible hours so you can balance them with your main job without feeling overwhelmed.
Start small: Begin with easy, manageable tasks and gradually take on more as you gain experience.
Go online: Use online platforms and marketplaces to find freelance work. Websites like Upwork, Fiverr, and TaskRabit are good places to start.
Promote yourself: Let people know about your side hustle through social media, community boards, and word of mouth.
Best side hustles to pay off debt
Online tutoring
Online tutoring is a great way to earn extra money. With many students needing extra help, platforms like Tutorful and MyTutor offer opportunities to tutor various subjects including maths, science, and languages. You can work from home and set your own hours, making it a flexible option.
Getting started with Tutorful is straightforward:
- Download the Tutorful app to create your free profile. Select which subjects you teach, pick your hourly rate, and upload a profile photo.
- Students will reach out via the app to arrange lessons and you can book sessions to match your availability.
- Start teaching and get paid quickly into your bank account.
Selling stuff online
Selling items online can also help you earn extra money. Websites like eBay, Etsy, and Facebook Marketplace make it easy to sell unwanted items or handmade products. You can declutter your home by selling things you no longer need, such as clothes, electronics, and furniture. If you’re crafty, you can sell homemade items on Etsy. This side hustle requires little upfront investment and can bring in a steady income.
Delivery jobs
Delivery jobs are becoming more popular thanks to food delivery services and online shopping. Companies like Deliveroo, Uber Eats, and Amazon Flex offer flexible delivery jobs you can do in your spare time. Whether delivering food, groceries, or packages, these jobs let you earn money while exploring your local area.
Babysitting
Babysitting is a timeless side hustle that’s always in demand. Parents often need reliable people to watch their kids for a few hours, making this a great option if you like working with children. Websites like Sitters.co.uk and Care.com can help you find babysitting jobs in your area. Babysitting offers flexible hours, and the pay can be good, especially for evening and weekend jobs.
Dog walking
If you’re an animal lover, dog walking can be a fun and profitable side hustle. Many pet owners need help walking their dogs, especially during busy workdays. Platforms like Rover and Tailster connect dog walkers with pet owners.
Rover offers a variety of services, including dog walking, doggy day-care (ideal for those who work from home), house sitting, and drop-in visits. With Rover, you can set your own schedule and set your own rates. Plus, their support team is available online 24/7 if you need assistance.
These side hustles allow you to spend time outdoors, get some exercise, and earn money whilst doing it. By building a regular client base, dog walking can become a reliable source of income.
Freelancing
Freelancing covers a wide range of services, such as writing, proofreading, graphic design, web development, and more. If you have skills in any of these areas, freelancing can be a great way to earn extra money. Websites like Upwork, Fiverr, and PeoplePerHour can help you find freelance jobs.
Freelancing offers flexibility and the potential to earn good money depending on your skills and the demand for your services. Signing up to Fiverr is free, with no subscription required or fees, though they do take 20% of your earnings. To get started, simply create a “seller” account, set up your gig, and offer your services to Fiverr’s global audience.
Maximising your side hustle for debt relief
Starting a side hustle can be an effective way to pay off debt and achieve financial stability. Whether you choose online tutoring, selling items online, delivery jobs, babysitting, dog walking, or freelancing, each option offers unique benefits and opportunities.
By using your skills, making use of online platforms, and maintaining flexibility, you could successfully manage a side hustle alongside your main job.
Carrying high-interest debt can be stressful, but utilising your spare time for side hustles can help put you on the path to financial freedom. However, if you find yourself struggling and overwhelmed with debt, free debt help is available through MoneyHelper, or you can speak with an expert MoneyPlus advisor about Debt Management Plans (DMPs) and Individual Voluntary Arrangements (IVAs).
