Embrace the Side Hustle to Boost Your Finances | Richard Banks & Associates, P.C.

Have you been trying to come up with ideas to fill these long summer days? If money is tight or you’re looking to build up an emergency savings fund, might our team at Richard Banks & Associates suggest picking up a side hustle?

Why the Side Hustle?

There’s a good chance you already have a side job, as Bankrate found that nearly four in 10 Americans, or 37 percent, do. Millennials, in particular, have embraced the side hustle life, with more than half of those surveyed reporting that they have a side job.

So why pick up extra work? It’s all about those dollars. In the Bankrate survey, 59 percent reported they took on a side job to have more disposable income to spend, while 38 percent said they used their side hustle to cover ordinary living expenses. The median income was found to be $200 per month, with an average of $686, which means high-earners are upping the average. It isn’t uncommon for side hustlers to earn over $8,200 each year.

Top Summer Side Hustle Ideas

Think it’s time you pick up a side hustle? Here are some of the top side hustle jobs for 2018:

1. Online Tutoring. Tutoring isn’t a great full-time job, but in the side hustle world, you could rack up $20–$25 an hour if you have the academic skills to back it up.

2. Uber/Lyft Driver. Rideshare services continue to be in demand and can be rather lucrative if you’re driving at the right time of day.

3. Online services. You can put your writing, design, video editing skills and much more to use online through sites like Fiverr, which is designed to help people find side gigs.

4. Babysitting/Companion Care. Babysitting isn’t just a job for teens—and if you’re an experienced babysitter, you can earn some nice cash. Companion care is much like babysitting, but for an older individual. You may help out around the house with daily chores or help the person get from room to room if needed.

5. TaskRabbit. TaskRabbit isn’t available in every area, but many are finding their side hustle way by doing odd jobs.

6. Baking or Cooking. If you enjoy time in the kitchen, you can always manage to turn some of that dough into actual cash money!

7. Virtual Assistant. Virtual assistants can work for business owners who are in need of help with things like social media management, emails, scheduling, etc.

8. Flipping. No, not flipping houses—flipping items. Many people are finding success selling resale store finds on sites like eBay. Be careful, this is one of the riskier side hustles.

Are the side hustle wheels churning in your head now? Good! Remember, there are many other ways out there to make some extra money on the side, so hop online and get to researching!

If working odd jobs on the side or even picking up a second job are still not making a dent in your financial situation, don’t hesitate to contact Richard Banks & Associates.