If you are looking to earn extra money or are between jobs, then you may want a side gig. Get a primer on side gigs.
The Top Line
- Many people are becoming more and more interested in side gigs.
- Side gigs can help you earn more money, but there are other things that you need to know before jumping in.
- Picking a side gig is not as easy as it sounds. There are many to choose from, but without having a plan you can find a side gig difficult to launch.
If you are looking to earn extra money, then you may have heard the term “side gig”. Side gig is just slang for a second job, really. However, it’s quickly becoming the norm in America and around the world as people look for ways to put a few extra bucks in their pocket each month.
There are lots of second jobs that could be classified as side gigs. It’s great that you’re excited to earn some extra income, but there are also some things that you’re going to want to know before you commit to a side gig. Knowing these can help you navigate the world of side gigs better and help you get more out of the experience.
What is a Side Gig?
If you’re hoping to earn extra money with a side gig, then the first thing that you need to know is what exactly a side gig is. Side gig is a term used to describe work that is done on the side, hence the terminology. Side gigs are usually jobs that people have that are designed to help them pay their bills or provide them with a bit of extra cash on the side.
Many people start out side gigs as a way to get some pocket money, but when you dedicate yourself to your side gig and if you have success, it is not uncommon for a side gig to turn into a full-time job. Many people consider a side gig to be a source of supplementary income.
One of the great things about a side gig is that almost anything can be a side gig. If you earn money with it and it’s relatively part-time, it should be considered a side gig. There are many established side gigs, but there are also side gigs that have yet to be discovered. Many times, people are creative and come up with side gigs that haven’t previously been used to make money.
Possible Side Gigs
If you are looking for a side gig that is already established, then you’re in luck. There are plenty of side gigs out there that are certainly worth exploring. To help you get started, we have established a list of side gigs that will give you a good foundation to build off of. These side gigs are well-known to a lot of people, but that doesn’t mean that they are oversaturated or that you cannot do them.
Becoming more familiar with common side gigs can even help you launch your own idea. Without further delay, here are some of the most common side gigs that people use to help make ends meet or put a bit of spending money in their pocket.
Make Income with Your Hobbies
One of the most common ways that people find side gigs that can help them earn extra money is by finding a way to monetize their hobbies. If you have a craft or a service that you perform as a hobby, such as art, making things, poetry, writing, and other skills, you can easily turn it into a side gig that earns income.
While many people prefer to leave their fun hobbies from being monetized, they say that you never work a day in your life if you spend it doing something that you love. If you want to do something that you love while also earning money, this might be a good option for you.
Food Delivery and Ridesharing
If you don’t want to start up your own business or do the leg work yourself, you can always use services that are designed to provide people with a way to earn side money. For millions around the world, this means participating in the gig economy. This includes services such as ridesharing, personal shopping, and food delivery.
While ten years ago it was hardly a thing, it is now one of the most powerful and wide-reaching ways to earn side money around. There are companies such as Uber, Lyft, Shipt, Instacart, DoorDash, and countless others. With some spare time and a reliable vehicle, you can make a decent side income to pay your car loan or have some extra spending money.
Online Remote Work
Do you have a skill that you can work online with? This could include web design, writing, coding, customer service, or any other skill that is performed digitally. If you do, then you could take a side job that offers remote work. There are companies all around the world that are looking for skilled individuals and are willing to hire those that are not even in the same country.
If you have a skill that you can perform on a computer, you could apply to these jobs and have success. This could allow you to have the most freedom, since you can work on the side while never having to leave your house.
Owning Your Own Website/App
Are you the more individualistic type? Do you have a knack for entrepreneurship? If so, then you may want to explore developing your own website or application. When done successfully, these ideas could bring you passive income. However, you should make sure that you know what you are doing, or all you will end up with is wasted time.
You should learn how to create these online properties and more importantly, how to market them effectively so that they might eventually earn an income.
Do You Pay Taxes on Side Gigs?
One of the most common questions that people have when starting a side gig is whether they are on the hook for taxes on the income earned during the side gig. The answer is yes, you must pay attention to tax implications when working side gigs. You should track all of your income, as well as all of your expenses, and report them on your year-end taxes.