Looking for what is the best side hustle to earn money in 2023?
You’re not by yourself. According to a LendingTree 2022 study, 44% of Americans have a side hustle to bridge financial gaps and cope with growing prices.
In addition, the average amount they earn from their side business is $473 each month.
Having a prosperous side job might help you reach your financial objectives faster, whether you’re saving for a vacation or attempting to pay off debt.
In this blog post, we’ve compiled a list of the 6 best what is the best side hustle to earn money in 2023.
Before going into detailed on what is the best side hustle to earn money?
Let’s get some information about what side hustle is.
What is a side hustle?
A side hustle is a terrific way to supplement your income. It is usually a part-time or freelance job that allows you to pursue your interests while supplementing your income.
Selling items or services, performing freelance work, or participating in the gig economy are all examples of side hustles.
However, with so many options available, it can be difficult to select the best one.
Fortunately, we have compiled a list of what is the best side hustle to earn money to consider in 2023.
What is the best side hustle to earn money?
If you want to supplement your income while working full-time or attending school, a classic side job is probably what you’re searching for. Ideal hustles are flexible enough to be done whenever you are available and have time.
1. Online tutoring
If you have an understanding of a specific subject (or numerous subjects), offering to tutor can be a terrific way to earn money.
Tutoring can be paid by the session or by the hour, and you can easily earn a few hundred dollars each month.
Through an internet network such as Skype, you can accept private tutoring clients on a local or international level.
Alternatively, you can work with a company like VIPKID or Brainfuse that pays an hourly or contract rate but assists you in obtaining clients.
For people who desire to work and travel, teaching English is a popular tutoring employment. If you’re interested in working in another country, the online experience could lead to in-person opportunities.
There are, however, frequently special prerequisites for teaching English.
Tutoring is not a good option if you want to scale up in the future because it is typically done one-on-one or in small groups.
Unfortunately, we only have a limited amount of time, and we simply cannot generate more to accommodate more people.
2. Create a blog.
If you’re looking for a long-term internet side hustle, blogging can be an excellent option.
While profiting from a blog on the first day is highly unlikely unless you already have an audience, beginning a blog has the potential to bring in a constant stream of revenue if you’re clever about it.
Profitable bloggers get cash through a variety of methods.
There are numerous opportunities to turn this into a profitable side hustle, ranging from affiliate marketing and advertising to sponsored partnerships and products.
The idea is to create a strong brand with which your audience can relate and trust.
Blogging is simple to balance with a full-time job since you can generate content ahead of time and schedule it to go online when you choose.
Depending on how much work you put into it, it has the potential to earn you a few hundred or thousand dollars per month.
The wonderful news is that blogging is quite simple to learn. The internet is brimming with simple how-to tips for starting your first blog. It is also relatively affordable to begin started.
The disadvantage is that you will have to put in some effort before you notice a benefit.
3. Offer online classes
While we covered tutoring earlier in the essay, it’s not a very scalable technique to teach because it typically requires one-on-one or small-group sessions.
However, building your own online classes can be an excellent answer.
The benefit of creating your own online courses is that you can concentrate on topics in which you are an expert. You’d be amazed at the types of online courses that are successful—they’re not necessarily the expected “how to grow your business” courses.
Knitting, yoga, travel, and lifestyle are all acceptable themes. The actual gold in running your online course business is your love for and knowledge of the topic, as well as your promotion approach.
Because it is a one-and-done concept, this is the ideal side hustle for people who want to work when they can and want to.
You can create a course once and advertise it to potential consumers for as long as you are prepared to put up the effort.
You can make your own online course by using a marketplace such as Udemy, a platform such as Thinkific, or an eCommerce tool such as Shopify.
4. Make digital items.
Digital products, including online classes, are based on the same one-and-done paradigm. Products can be a simplified form of a digital course, such as an e-book or worksheet, though courses are sometimes considered “digital products.”
The advantage of developing smaller digital goods is that they may frequently be created faster than an entire course (depending on the size). However, you will almost certainly want your own platform to market and sell them, such as websites.
E-books are an excellent example of a digital product, and many subjects perform well on sites such as Amazon. You can even utilize Kindle to make the final book, which takes a fraction of the time.
This is an excellent choice for hustlers who don’t have much time but have information to give. Creating a single product does not have to take a long time, but if well-marketed, it has the potential to be quite profitable.
5. Work as a virtual assistant
Starting a side hustle as a virtual assistant can allow you to exercise your existing skills, work on projects you’re enthusiastic about, and work the hours you desire. It’s a wonderful choice for individuals who have a variety of skills and wish to expand their resume.
This side hustle can range from becoming a part-time executive assistant to specializing in a specific field, such as email marketing, and assisting entrepreneurs in connecting with their target audience. It is entirely up to you what services you provide.
Although some virtual assistants work full-time, there are numerous chances to work on flexible, limited-hours contracts for your clients. The beauty of this type of work is that you can find private clients on your own or on sites like Upwork. You determine your own working hours and charges.
6. Start a YouTube channel or Vlog
Even while most people are aware of YouTube and use it on a regular basis, many are unaware of its potential as a source of money.
YouTube, like Twitch, is an online streaming platform, but it is also the world’s second-largest search engine and its videos are frequently integrated into the world’s largest search engine (Google), whose parent firm also controls YouTube.
On top of that, YouTube’s smart content suggestion tools make it one of the most current marketing platforms in the world.
You can use YouTube to market your own items or services, to promote affiliate deals, or to attract as many viewers as possible in order to earn ad money and premium subscriptions.
If you want to gain a large following, you should probably concentrate on education and/or entertainment. Personal growth, sports and social commentary, film and series reviews, gaming content and conversation, podcasts, and short humour are all popular YouTube categories.
In addition to creating constant material that your audience enjoys watching and sharing, you’ll need to concentrate on optimizing your YouTube uploads and advertising them elsewhere.
Start with appealing titles and thumbnails, informative descriptions and tags, and links to fresh videos from Facebook and Twitter.
Large-channel YouTubers frequently secure sponsorship arrangements from firms whose products their audience would be interested in, or they create a monthly membership utilizing a platform like SubscribeStar or Ghost.org.
These platforms allow you to charge your biggest admirers a recurring subscription in exchange for bonus content, group calls, or whatever else may entice them to pay.
That’s it – 5+ side hustle ideas to get you started making some additional money on the side.
As you can see, there are numerous respectable ways to earn additional money both online and offline, so choose your favourite!
Hopefully, you’ll discover a suitable side hustle on this list!