Tag: Side Hustle

 

Summer Side Hustles to Try This Year

It’s almost summer! This means BBQs, beach days, and road trips. Yet, summer isn’t all fun and games. It’s also a great time to make more money.

Whether you decide to get a temp job or strike out on your own with a new side hustle, now is the perfect opportunity to put extra cash toward your money goals. To help get your wheels rolling, check out these eight side hustle ideas.

1. Real Estate Agent Assistant

Spring and summer are the busy seasons for real estate agents, especially if you live in a region with a hot housing market. Many agents need extra help with listings, and this includes taking photos of houses and shopping for personalized thank-you gifts for clients. At the same time, agents may not have the budget or need for a full-time employee. That’s where you come in.

Perhaps you can become a freelance personal assistant to a local real estate agent. Don’t be shy. Start pounding the pavement, meet with real estate agents, and let them know what you can bring to the table.

2. Social Media Manager

Admit it. You already spend too much time on Instagram and Snapchat. Why not get paid for your social media usage? Restaurants and stores need people with good communication skills to increase their online presence. So, create a sample account to show local businesses how you can help them gain more traction with social media.

You can charge an hourly rate or offer a flat rate package that includes a set of curated images, posting ideas and content creation. For an extra weekly charge, you can even manage the company’s social media accounts daily.

3. Manager for Airbnb Hosts

Did you know that you don’t actually have to own a rental to profit from Airbnb’s popularity? Instead, you can become a property manager for Airbnb hosts in your area.

Many Airbnb hosts rent out their home on the side but still have a busy life to maintain too. Summer months might also be the time that hosts want to do some traveling on their own, without stressing out about their own guests.

You, in turn, can be the reliable person that can fill in the gap for them. As part of the deal, you can also offer to clean the rentals between guest stays, do lawn care or welcome guests. You can even offer to improve their listings with better photos and descriptions.

4. Summer Program Instructor

Have you thought about becoming a swim instructor or teaching kids yoga classes? Perhaps you can offer children’s art or drama classes?

Summer is a great time to get your creative juices going and teach kids classes. If you haven’t taught swimming in years or you want to learn a new skill, the American RedCross offers a Water Safety Instructor’s Course in many areas. This course prepares you to teach preschoolers and children, as well as ‘Parent and Me’ aquatic classes. You can charge $25-35 for an hour of one-on-one swim lessons or charge $300 upfront for a package of 10 swim lessons.

When it comes to yoga, this may be easier than teaching swimming because you don’t need a pool and can run classes at a local park or even in a backyard. And don’t worry if you’ve never taught yoga before. You can hook up with a company like Pretzel Kids yoga, which offers an affordable online training course enabling you to start teaching children’s yoga classes immediately. Pretzel Kids teachers can earn $40 to $100 a class, depending on where you live and how many children are enrolled in your classes, says Pretzel Kids founder Robyn Parets.

“Some of our Pretzel Kids teachers also run mini-camps for a week or even three days during the summer. The best part: You can pick a summer week when you’re around and even bring along your own kids. It’s a lucrative and flexible way to earn extra cash doing something to enrich kids’ lives,” says Parets.

5. A Sitter for All Needs

Once school is out for the summer, many parents are desperate for affordable day care.

Have you considered becoming a babysitter? Even if you are only free nights and weekends, you can still pick up regular gigs when parents need a date night. If you become a child’s favorite sitter, you might even get invited on vacation.

Pet sitting and house sitting are also in-demand during the summer months. Many people prefer in-home pet sitting to boarding their animals, especially if they have more than one fur baby. For an easy way to make more money, check out Rover.com to apply for local house or pet sitting gigs.

6. Teach Kids Online

Companies like VIPKid hire online instructors to teach English to children in China. The virtual one-on-one teachings pay up to $22 an hour. To be a teacher, you need a bachelor’s degree and to pass the application process.

You can also look into other online teaching opportunities at companies like Outschool, which hires independent contractors to teach all sorts of classes for kids via video conference calls. With Outschool, you have to go through an approval process and then you can set your own hours and rates.

7. Garden and Lawn Care

We know, mowing lawns is the ultimate cliche of summer jobs, but it is for good reason. Taking care of your lawn is harder in the summer when plants and weeds grow faster.

So, try offering extra services that a regular gardener does not do, such as dog poop removal, palm tree trimming and patio power washing.

You can even skip the monthly service all together for a one-time charge. Call it the “Take a Week Off” special, offering individuals an hour of garden care for $25.

8. RV Prep and Cleaning

Hitting the open road is a summer favorite for many families. Yet, prepping the RV and cleaning it after the trip is something many wish they didn’t have to do.

You, however, can profit off of this common pain point with your own RV service business. To boot, advertising this type of business door-to-door is easy, since most of your potential customers will have their RV parked on the side of their homes.

Get Your Side Hustle On

Now that we’ve given you eight great ideas to make extra money this summer, it’s time for you to get started!

And here’s one final pro tip to level up your income: If your employer offers direct deposit, you can get paid early with Chime. Even without direct deposit, you can still manage your side hustle paychecks with Chime and automate your income. Simply transfer 10% of your paycheck into a separate account every time you get paid. This way you can reach your money goals with ease.

 

How to Turn Your Side Hustle into a Full-time Gig

Fifty percent of millennials have a side gig, according to a study by Experian.

This is often the perfect way to jumpstart your financial goals, including debt freedom, moving into your own apartment, or funding that dream vacation. A side hustle can also be a big motivator to launching a full-time business and achieving financial freedom.

To help you learn more, take a look at seven tips to turn your side hustle into a full-time gig.

1. Be Realistic

The truth is: Not every side job can be turned into a full-time hustle. For example, mowing your neighbors’ lawns every weekend probably works really well as a side gig, generating a few hundred dollars a month. But you would need to put in a lot more effort to transform this concept into a full-fledged business. For example, you’d need to consider advertising costs, the seasonality of a lawncare business, and the existing competition in the market.

Putting together a financial forecast to determine your total revenues and expenses is another important part of your research at this stage.

2. Stop Treating Your Side Business Like a Hobby

Leah Gervais, founder of Urban 20 Something, says that if you want to scale your side hustle into a full-time gig, you need to treat your side business “like your job, because it is.”

“This means scheduling out your time to work on it and making those meetings unbreakable. Be honest with yourself; this will be an intense time period with long hours and lots of sacrifices. But it’s just a chapter. The more dedicated you are, the faster you’ll be able to make your side hustle your full-time hustle,” says Gervais.

Another way to up your commitment level is to formalize your business structure. Tasha Cochran, one half of the YouTube channel One Big Happy Life, recently quit her job to pursue her blogging hustle full-time. As she noted on her website: “We became an LLC, signed a partnership agreement and started to be more strategic about what we were doing.”

3. Look for Ways to Work Smarter

A side hustle can be hard to scale but it’s not impossible. One way to grow your side hustle is to transition from a one-to-one business model to a one-to-many business model. Translation: Figure out how to earn money while you sleep!

One booming market for doing this is the e-learning industry. According to Reuters, global e-learning grew to $165.21 billion in 2015 and is expected to skyrocket to $275.10 billion by 2022.

Just be aware: In order to scale an e-learning business with a host of online courses, you do have to hustle.

For example, Robyn Parets migrated online with her branded Pretzel Kids Yoga Teacher Certification Course in 2016. Pretzel Kids still offers live trainings and kids yoga classes, but the online school allows the company to grow its reach globally. Pretzel Kids nows sells a host of courses via its online kids yoga training school, such as How to Teach Mindfulness to Kids and Yoga for Kids with Special Needs. In addition, Pretzel Kids instructors can join a membership community where they can access branded materials, download teaching resources, get booked for teaching gigs, and more, says Parets.

“The ability to offer online trainings and a membership community has been pivotal to the growth of Pretzel Kids. We also offer our trained teachers a way to immediately start their own side hustles using our curriculum,” she says.

4. Invest in Yourself

Have you ever heard the saying the best investment you can make is in yourself? This is especially applicable to scaling your side hustle because you are your biggest asset.

As a full-time entrepreneur to-be, the learning process should be a continuous one. In the early days of scaling your hustle, you might have to invest in tools and courses to beef up your skill set. For example, you may need to learn more about email marketing or social media. Yet, in the long-run, this will save you time and money.

You can also fast-track your success by finding a mentor and connecting with other like-minded people who can help your business thrive.

5. Wait Until Your Side Hustle Earnings are Consistent

Before you make the leap from full-time employee to full-time entrepreneur, your side hustle earnings should either equal your current income or be sufficient enough to cover your living expenses.

Don’t forget to include a line item in your new budget for those intangible benefits that your current job provides, including health insurance, 401(k) contributions and the like. For example, if you have to say goodbye to free lunch on Fridays or free daily coffee, make sure to add these as new expenses each week.

Another tip is to wait at least a few months in order to determine whether your side business will produce consistent earnings. This is exactly what Gervais did. Once her side business started regularly bringing in more money than she made at her 9 to 5 job, she had the confidence to turn it into her full-time job. Today, her online business generates more than $10k in sales per month.

6. Boost Your Emergency Fund Before Taking the Plunge

If you have a healthy savings account, then you’ll have peace of mind to go all-in on your side business. To help you boost your emergency fund faster, you can try automating your finances.

With a Chime bank account, for example, you can save when you get paid and automatically direct 10% of every paycheck into your Chime Savings Account. This way you can put your savings on autopilot and reach full-time entrepreneur status sooner. As a bonus, if you use your Chime Visa Debit Card to make purchases, Chime will round up each purchase you make to the nearest dollar, and transfer the round up amount right into your Savings Account.

7. Schedule in Self-Care

When you’re working to scale your side hustle into a full-time business, it’s easy to put health and wellness on the back-burner. But taking care of your physical and emotional well-being is more important than ever at this stage. The good news is: Self-care doesn’t have to be expensive. It can be as simple as scheduling in a 30-minute walk each day to get some fresh air and mental clarity, reading a book or enjoying a long bath.

Ready, Set, Go!

If transitioning your side hustle into a full-time gig is something that you’ve been on the fence about, we hope these seven tips will give you the push you need to start living your dream!

 

Should You Get a Summer Job?

Ah summertime. With vacations, beach days, and backyard barbecues on the mind, you’re probably not thinking about getting a summer job. But whether you’re a teacher with summers off, a student on break, or you just want to save some money, summer is an ideal time to look for extra work.

Here are four reasons why you should get a summer job.

1. You can take advantage of seasonal work

Summertime boasts a plethora of seasonal jobs that aren’t available any other time of year. This is excellent news because it means a lot of employers are hiring just for the summer. It’s also great news for you as you won’t have to stress about giving your notice after only a few months. You can simply work for a short time and bank the extra cash.

As an added bonus, there is generally less competition for these jobs since they are only guaranteed for a season. Some seasonal opportunities include working in retail, lifeguarding, tourism, and landscaping – just to name a few.

To find jobs near you, it’s pretty easy to ask around, join neighborhood Facebook groups or and post what you’re looking for on NextDoor. Chances are, you’ll get a few referrals in a matter of minutes! Or, you can check out SummerJobs.com to find employers near you.

2. You’ll earn extra cash

Who wouldn’t benefit from some extra cash?

While a simple, seasonal job might not make you rich, it can certainly help you achieve your financial goals faster.

Want to pay off debt? Consider a summer job. Start an emergency fund? Save for a trip? Then you should definitely consider seasonal work.

Better yet, if you have other income from your primary job, you can stash away what you earn from your summer gig. Even an extra $200 a week can add up – helping you save $1600 in just eight weeks! That’s plenty of dough to kickstart your savings goals.

3. You’ll give your days structure

Maybe an abundance of free time isn’t for you. Or, perhaps you can use some structure this summer. Either way, a summer job can provide you an opportunity to fill your time and earn money.

Because let’s face it: There are only so many days you can sit at home before you become bored out of your mind. Summer can feel incredibly long if you don’t have anything planned. So, take advantage of your downtime and earn some money while you’re at it.

And, if you’re pushing your kids to find a summer job, this is an excellent opportunity to teach them about budgeting, saving, and time management. You can even open a mobile bank account and teach your teens how to track income and expenses while on the go.

4. You’ll learn new skills and have some fun

If you have ever wanted to try out a new career, then a summer job is the perfect opportunity to do so.

Maybe you want to take a break from teaching and work in tourism this summer. Or, perhaps you want to land an internship before heading back to grad school. Or, if you’re an entrepreneur at heart, then you can use this summer to launch your business.

There are hundreds of new skills you can learn by shaking up your routine and trying out a new summer job. Whether it’s customer service, billing, manual labor, or coaching, get out there and try something new.

Are there drawbacks to a summer job?

Of course, there are plenty of instances where a summer job may not be worth it.

For example, when you have a summer job, you lose out on time you could be spending on other things, like traveling, home improvement projects, or lazy summer days at home with your kids. A secondary summer job can also add a layer of stress to your life if you already work a demanding 9 to 5 job.

So, before you jump into a summer job, weigh the pros and cons. Just remember: While a summer job isn’t for everyone, if you have the luxury of free time this summer and can use the extra money, then why not? Besides, a summer job can be just what you need to bolster your financial goals.

 

How Long Should You Side Hustle For?

Side hustling is a great way to make extra money. The more successful your side hustle is, the more motivated you are to continue, right? Not exactly. There are many other factors that contribute to the longevity of your side hustle.

Here’s how you can tell how long you should side hustle for.

Set a Goal If You’re Trying to Leave Your Job

If you’re side hustling in order to leave your full-time job, it’s important to set a deadline for when you’d like to leave and under which circumstances. How much do you need to earn? How many hours to do you expect to spend working?

For me, unfortunately, I had hit a breaking point with my side hustle which prompted me to leave my 9-5 and turn my side hustle into my full-time job. I was burning out from working so many hours between both jobs.

Luckily, I was earning enough money to allow myself to quit without too much worry. Still, this is something to keep in mind. If you plan on working several hours and building a business up on the side, set a goal as to when you will make the transition to full time so you know that side hustling is only temporary.

Consider What Your Short Term Goals Are

Are you side hustling just to meet a short term goal? Whether it’s to pay off debt, fund a large purchase, or to gain a new skill, get clear on why you’re side hustling so you can meet those short term goals.

Also, develop a plan for what you’ll do after you reach them.

Is Your Side Hustle Still Enjoyable?

This is a question my husband is faced with currently. He’s been side hustling with Uber for about 3 years now. He admits it’s not as enjoyable as when he first started.

In the beginning, he wanted to side hustle to help us pay for extra expenses, pay off his car loan, and save more for the downpayment on our home.

We have met all of those goals and he’s gotten to a place where he’d rather stay home at night instead of going to drive for Uber. We could still use some extra money each month, but it seems like it’s time to switch to another side hustle.

Since you’re working on the side, you’re already putting in extra hours so you might as well do something that you enjoy and are good at. If your side hustle is no longer enj0yable and doesn’t stimulate you, you’ll lose motivation and it will feel more like a chore.

Consider Working in Seasonal Spurts

If you plan to make your side hustle a long-term venture, continue working is seasonal spurts. That way, you’re expected to be “on” and working all the time. Working 7 days per week is not sustainable for anyone long-term.

Choose a side hustle that’s flexible and allows you to pick up or drop hours as you see fit. For example, you may want to work more hours during the summer when work at your main job is slow. A seasonal side business can be more sustainable because it allows you time to rest.

Summary

Side hustles are often great to have, but all good things tend to come to an end. Be intention when deciding what type of side hustle you’ll try and what your goals are. Consider doing flexible work and allowing yourself the freedom to slow down or speed up production as you see fit.

 

Side Hustles You Can Do in Your Sleep

For our parents’ generation, “moonlighting” might have meant earning extra money by flipping burgers at a fast food joint or working at a department store on the weekends.

But for us? Well, we’re the gig economy generation. Whether you deliver groceries, participate in focus groups, or get rented out to be someone’s wedding guest, you’ve likely got some sort of side hustle. According to a recent Bankrate report, nearly 40 percent of Americans have a side gig. As for millennials, half of us have one.

If you’re still searching for an easy way to rake in money, we’ve got you covered. Here are four passive income strategies that can help you earn money in your sleep. Pretty sweet.

1. Video royalties

You don’t need a gazillion views to monetize your videos.

Yes, even you can make money off your adorable furbaby videos, clips of wild weather, political protests, and unusual street performers, says Peter Koch, founder of Seller at Heart.

Koch spends a few hours a month making short videos and uploading them to video licensing platforms. He rakes in about $150 a month.

Where to start? Video licensing agencies like Newsflare, Rumble, or Jukin Media are just some of the platforms where you can sell your videos. Yet, the ways in which you can earn money vary. For instance, if you use Newsflare and a website wants to use your video for a set amount of time, you can earn a flat rate. You can also make money via ad placements. With Rumble, on the other hand, you can earn money through syndication. And with Jukin you can make money through licensing, brand partnerships, and online monetization.

2. Stack cash back and rewards apps

What about making money by spending money on things you already buy?

With popular cash back apps like Ebates, Drop and Dosh, you can earn points, which can then be redeemed for either gift cards and sometimes cash.

Similar to credit card rewards, you just link your credit card to the app, explains Andrew Herrig, a personal finance blogger at Wealthy Nickel.

“You earn points that you can trade for cash for shopping you would normally do anyway,” says Herrig.

Pro tip: If you put in a little extra effort, you can score good bonuses for some non-cash back offers, explains Herring. And, if you already put some of these purchases on a credit card, you’ll be earning reward points on your credit card, too. Just be careful of making purchases you normally wouldn’t, and carrying too high of a balance on your card.

3. Creating digital products

Online businesses and products are popular ways to earn passive income.

If you already have a platform with a strong following, or it you’ve devised a marketing strategy by way of email funnels and ads, you can potentially rake in some cash selling e-books or courses.

“Online courses make for great digital products, because people are always looking for how to do new things — whether it’s to learn about SEO, or take on another hobby or interest,” says

Mike Pearson, who created an online marketing course for bloggers who want to boost their SEO.

“The best part about selling digital products is that you only have to create the product once, and then you can sell infinite copies over and over again, truly earning money while you sleep,” says Pearson, who is the founder of Stupid Simple SEO.

Pearson makes a killing from his online course — the course costs $300 and he rakes in about $10,000 a month as a side income. As for the upfront investment, he spent 20 hours filming videos, writing text, making a sales page, and coming up with an email sequence to sell the course.

“It was a lot of upfront effort. The good thing is, the costs were minimal as I did all of the work myself,” he says.

4. Sell your stories

A few years ago Jarek G. (FYI: that’s his blogger pseudonym) wrote a dozen short stories and self-published them on Amazon, Barnes & Noble, and Smashwords.

Jarek spent anywhere from six to 10 hours writing, editing, and publishing each story, and paid five dollars to get a cover made. He published each story as a stand-alone for $2.99.
At his peak, Jarek earned about $150 a month.

These days, he still makes $30 to $40 a month in passive income from these same stories.

“It was a bit of upfront work, but after that it’s relatively passive,” says Jarek, who is the founder of Time in the Market.

Understand the ROI

When earning passive income, make sure you save part of the money you earn and put it toward one of your money goals. You can even use a money-saving app to help you keep track of this extra income. (Or, you might want to auto-save a portion on the regular.)

And, to get to the sweet spot of earning money passively, you’ll need to make sure the costs and time upfront are worth it. Keep in mind that all streams of passive income require not only work, but a bit of luck and timing.

“There’s no easy path to wealth or making money,” says Jarek.

“For instance, with self-publishing, you’ll need to be active, and it requires some talent to write things people want to read.”

 

The New Rules of Personal Finance: Gig Economy Edition

Save as much as you can, spend less than you earn, invest wisely. While these pillars of personal wellness may ring true, there are some financial rules that need a facelift. You could say times are a changin’.

My friend and colleague, Kristin Wong, who is the writer and author of Get Money, recently wrote a thought-provoking piece on the new rules of personal finance. Wong takes a look at home ownership, going to college, debt repayment and investing. Yet, the new rules of money also include other facets of our financial lives and take into account how to save money and earn more in the gig economy.

Take a look at four rules we’ve put together to help you tackle your finances in today’s times.

1. Living on Steady Paychecks

Are you one of the 53.7 million Americans who are freelancing?

Then you know that paying your bills on inconsistent income is real. Cyndi Lauper might think that “money changes everything,” but in my humble opinion, variable income changes everything, my friend.

When you have a steady flow of money coming in each month, you can create a spending plan without any issue.

Instead: If your paychecks hit your bank account at different times of the month, consider syncing up paychecks to different bills. For instance, your largest paycheck, which might be relatively the same each month, could go toward rent. Maybe another paycheck from another gig could go toward your student loan and credit card debt.

Jot down when each bill is due, and how much it is. Next, assign income to bills. While some payments from jobs drop at different times of the month, the money you receive from other clients might be more consistent. In turn, this might be able to help you stay on top of your bills.

Want in on another tactic that has been a budget-saver for me? I aim to get one month ahead. So, I try to have enough in my bank account at the end of the month to cover the next month’s expenses.

Pro tip: If you’re a Chime member, try auto-saving a percentage of your paycheck every time you get paid.

2. Budget Monthly

Budgeting monthly makes sense for those who have a steady paycheck and get paid twice a month. But how about those who are gig economy workers or freelancers?

It’s hard to create a spending plan when your income changes constantly, let alone drum up a monthly budget.

Instead: Consider budgeting weekly. Seven days is a lot easier to budget for than 30 days. I personally plan out my discretionary spending a week ahead. I give myself a certain amount each week to spend on food, going out, and personal items. Then I figure out an amount I can spend each day. It’s a fun game I play. So, if $30 is my daily amount, I try to have “no-spend” days or spend less than that. By the end of the week, I’ve have “extra” money to spend.

If that’s too much math and money nerdiness for you, consider assigning an amount each week, and spend it until you reach zero. Hopefully you won’t have to replenish until the following week.

3. Save Three to Six Months in an Emergency Fund

While this remains a solid rule, it’s hard to start an emergency fund when you’ve got bills to pay, a debt load to manage, and other competing financial priorities.

Instead: Start with a rainy day fund. What’s the difference between a rainy day fund and an emergency fund?

A rainy day fund can have different rules. While you might take money out of an emergency fund for say, a major car repair or an unexpected medical bill, you can tap into a rainy day fund when you’re having a lean month and need to cover your bills.

Also, a rainy day fund typically has a smaller balance in your account than an emergency fund. Whereas a rainy day fund might have one to two months of living expenses, an emergency fund has anywhere from three to six months — sometimes more. This might seem like a Herculean task, but try auto-saving small amounts each week into a rainy day fund. Once you’ve got this down, you can work towards saving more into an emergency fund.

4. Save 10 Percent of Your Retirement

To piggyback off of Wong’s advice, it’s hard to say you should save for exactly 10 percent of your retirement, when you aren’t able to save anything at all. According to a report from the National Institute on Retirement Security, about two-thirds of folks between the ages of 21 and 32 have nothing saved for retirement.

Instead: Save what you think you’ll need in retirement. But also, save when you can. As a freelancer, after my living expenses are covered, I save a percentage for my retirement. And there’s no hard and fast rule that you need to save monthly. You could save every quarter or once a year if you need to. As long as you save something, that’s the important thing.

And keep this in mind: We live longer and carry more debt. Semi-retirement seems to be the new norm. So, you might want to consider continuing a side hustle, at least part-time, in retirement.

Take Positive Steps Today

While the same old financial rules will always ring true, it’s important to follow new money rules as well. Hopefully these four new rules of personal finance will shine a light on how you can approach your money differently and still achieve financial wellness. Godspeed!

 

Five New Side Hustles for 2019

Raise your hand if you could use an extra $100-$1,000 per month!

If you’re like most of us, you’d love to make more money. And, about 50 percent of millennials are already taking advantage of extra income opportunities, according to a study by Experian.

Earning more money can help you reach your financial goals, including achieving freedom from debt, saving up for a dream vacation or even coming up with a downpayment for your first home.

By now you may be wondering how you can jump on the side hustle bandwagon. To help you get going and choose the right side gig, we spoke to five savvy women, ages 25-35, who are crushing their side hustles and changing their financial futures. Based on our discussions, here are five new side hustles to consider this year.

1. Delivering Groceries

Constance Tuner, a young mother living in the Washington D.C. metropolitan area, was frustrated with “being in the red each month” because her expenses exceeded her take-home pay. Apart from finding ways to reduce her spending, she realized that it was also necessary to supplement her income if she wanted to stop living paycheck to paycheck.

Delivering groceries with Instacart has been one of Turner’s most successful side hustles. She says Instacart makes it easy to start earning more money as quickly as possible.

“You can sign up through the website or use a referral code from someone (who’s already registered with Instacart),” says Turner.

Once you pass a background check, the company will send you a card to use for purchases.

“Then, you’ll take a few tutorials, select your hours and get started the following week. Hours are selected a week in advance,” Turner says.

With a better handle on her finances now, Turner says she’s very close to using her income from Instacart to begin tackling debt.

Turner’s average earnings: In January, Turner made $976.25 based on 57 hours of shopping. She does this side hustle for two hours after work during the week and about eight hours over the weekend.

2. Field Agent 

Laura Smith, a barista in Minneapolis, Minnesota, uses side hustles to accelerate her debt freedom goals.

“It’s easy to lose perspective and get discouraged when you’re trying to pay off thousands, but every single dime adds up and goes towards changing our family’s legacy,” says Smith.

She recently got started with Field Agent, a free app which pays you for completing “missions” such as checking to see if a store has a particular product in stock. According to Smith, “it’s great because I can (earn extra cash) when I’m out running errands or during my spare time.”

Smith’s average earnings: Smith made about $45 during her first month using the app. She says that the payout amount varies depending on how in-depth each mission is. In her experience, the majority of missions pay between three and six dollars, but she’s seen some that offer up to $22.

3. Exam Proctor

Alli Rosenblum, a recent MBA graduate and founder of financiALLIfocused.com is on a mission to pay off six figures of debt (primarily student loans) in a few years. She’s explored a number of side hustles, including tutoring through Care.com.

Recently, the exam proctor company UExamS reached out to Rosenblum through Care.com.  She was asked to proctor exams for a student who needs extra time.

After researching the company and reading online reviews, she accepted the offer. Yet, while it was very easy to get started as an exam proctor, Rosenblum says this is a need-based side hustle and therefore the income is “pretty inconsistent.”

“Side hustles are more important than ever (for my fiancé and myself) so that we can pay off $140,000 of debt faster. We also use side hustle earnings to fund date nights and other treats here and there to keep us motivated on our long debt-freedom journey,” says Rosenblum.

Rosenblum’s average earnings: Her first stint earned her $63 for less than an hour. Better yet,  the exam administrator never showed up but she still got paid for her time!

4. Easy Shift

Tancy Shanelle, a stay-at-home mom with a young family, says that side hustles “make all the difference when you’re trying to set yourself up to be financially stable.”

She is $7,500 away from paying off $100,000 in debt and says that “every amount counts.”

Shanelle earns cash side hustling with Easy Shift, which is similar to Field Agent. The types of gigs include taking pictures of displays or specific products, as well as filling out surveys.

Shanelle’s average earnings: Anywhere from four dollars to $25 per shift, with most gigs paying about six dollars. The shifts are anywhere from eight to 30 minutes. How much you earn depends on what’s available in your area and whether you get selected to pick up shifts. “Depending on where you live, securing a shift can be competitive,” says Shanelle. However, in her experience, if you are dedicated, you can make upwards of $200 per month.

5. Focus Groups

Chonce Maddox, a freelance writer and founder of MyDebtEphiphany.com, uses side hustles as a way to supplement her income and fund “extras” – those bigger ticket items that fall outside of her regular monthly budget.

Using earnings from participating in focus groups, Maddox and her husband, “were able to pay a neighbor to take down some trees in our yard in the fall.” They also both did focus groups – which she found via the site Respondent – in December and January to help pay for their son’s birthday party.

“There is one drawback,” says Maddox. “This side hustle is really sporadic, so I treat it as extra (bonus) income.”

Maddox’ average earnings
: Maddox earns anywhere from $100 to $250 per focus group, yet bigger opportunities will pop up from time to time. For example, “I was really lucky to be selected for the first focus group that I applied to, which paid $500 for four and a half hours.”

Next Steps: Find a Purpose for Your Side Hustle Money

From personal experience, it can be really easy to blow through extra income coming in from side hustle opportunities. That’s why you need a plan for where that money goes. My favorite tip is to keep my extra income in a separate bank account so that it isn’t commingled with my regular earnings from my day job. This makes it less tempting to spend!

Another tip is to automate your savings. Every time you use your Chime Chime Visa® Debit Card, for example, Chime will automatically round up each transaction and transfer the money from your Spending Account into your Savings Account. It’s as easy as that!

With these extra earning tips in mind, what’s holding you back from creating a more abundant lifestyle?

 

How to Budget on an Irregular Income

Understanding exactly how to budget can be difficult, even for someone with a consistent income. But, think about how complicated budgeting would be if you had an irregular income.

This is what millions of Americans deal with all the time.

Freelancers, small business owners, and salespeople all have incomes that can change from month to month. Sometimes the fluctuation can be drastic, and it can make it hard to save money.

If you find yourself in this situation, how can you develop a budget when you don’t know what your income is? Keep reading as we walk you through five steps to budget on an irregular income.

1. Calculate your bare-bones budget

The very first thing you need to do is calculate your bare-bones budget. These are the essential expenses that you need to cover each month. Make sure to include categories like housing (rent or mortgage), utilities, groceries, insurance, transportation (car payments, public transportation), and other essential costs.

Housing, insurance and car payments can be easy to factor in as the monthly amounts stay about the same. However, your utilities and groceries can fluctuate. To get an accurate figure, calculate how much you’ve spent, on average, for each category during the past 12 months.

While these are the critical expenses you need to cover each month, you should also include retirement, savings and debt payments. While these are not required, they are still important.

2. Add in your discretionary expenses

Now that you’ve calculated the bare minimum you need to get by, it’s time to calculate your discretionary expenses. These are things that you spend money on but can live without.

These expenses include going out to dinner, a date night at the movies, the cost of your daughter’s dance class, etc. Figure out how much you spend on these expenses, on average, each month.

Looking back through bank or credit card statements is a great way to locate these expenses.  Budgeting apps link Mint also do a good job of breaking down your expenses into categories.

3. Build up an emergency fund

Many of you have probably heard of an emergency fund. Its sole purpose is to cover an unexpected expense. If your income is always changing, an emergency fund is a must. The last thing you need is to have an emergency pop up during a lower income month and not have anything saved.

Simon Moore, a contributor to Forbes, recommends three to six months worth of expenses in an emergency fund. David Bach, a personal finance expert, takes it a step further and recommends that you save one year’s worth of expenses.

To get started, consider opening a Chime bank account. Chime’s Automatic Savings program is a great way to build your emergency fund. Here’s how it works: Each time you use your Chime Visa® debit card, Chime will round up your purchase to the nearest dollar and transfer the difference to your savings account. Plus, Chime makes it simple to save each time you get paid. As a Chime member, you can automatically deposit 10% of your paycheck into your savings account.

4. Pay yourself a reasonable salary

Having an irregular income can be stressful. This is why a budget is so important. It helps you forecast your monthly expenses. It also gives you the ability to see how much you have in your bank account so that you can perhaps pay yourself a salary.

To start, try paying yourself based on your budget the previous month. You can do this by combining the totals from your bare-bones budget and discretionary expenses and depositing that in your checking account on the first of the month. This will cover the entire month worth of expenses. Everything else you might have made will be put toward either short- or long-term savings.

By doing this, you are never spending more money than you actually have. Instead, your income is based on the past.

5. Pay your bills using a zero-sum budget

If you’ve never heard of a zero-sum budget it’s a fairly simple budgeting method where every dollar has a purpose.

At the end of every month, your income minus your expenses should leave you with zero in your checking account. For example, if you have $200 left in your account at the end of the month, your job isn’t done. That $200 needs to be allocated to something. For example, perhaps it will go toward debt payments, retirement or short-term savings.

So, to pay your bills using a zero-sum budget, you need to start with your list of bare-bones budget items and discretionary expenses. Go down the list and pay each item, starting with the most important. Once all those are taken care of, see how much money is left over. Remember what we talked about – every dollar has a purpose. Look for a place to allocate the extra cash.

One important thing to note with a zero-sum budget is that you need to pay attention to your variable expenses throughout the month. Make sure you’re staying below the amount you budgeted for items like groceries, clothes and anything else that fluctuates.

Irregular income doesn’t need to complicate the budget

You can still budget – even with a fluctuating income.

As long as you stick to your budget and live on the income you generated from the previous month, you should begin to see your financial situation improving. Are you ready to give it a try?

 

6 Seasonal Side Hustle Jobs You Can Do in the Spring

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Today marks the first day of spring, a time to renew yourself personally and financially.

For starters, spring is a good time to assess how well you’ve been doing with those financial resolutions. It’s also a perfect time to give your money a good spring cleaning.

While there are many ways to improve your finances, here’s a tried-and-true way to earn extra cash: Pick up a new side hustle.

To get you started, here are six ideas for jumping on a new springtime side gig.

Gardening/Landscaping

The spring season means flowers are in bloom and the grass starts to grow.

This is also when folks need to tend to their lawns and gardens. Many of these people have zero time. That’s where your landscape side hustle comes in.

“It’s a great side hustle that is vibrant during the spring, as everyone starts getting their yards and gardens back up and running to look great for the summertime,” says Dustyn Ferguson of Dime Will Tell.

“People are willing to pay to do a lot of this work, especially for laborious work like placing mulch, creating pathways, picking weeds, and even designing a garden,” he says.

Even if you don’t have the greenest of thumbs, don’t count yourself out; there are always other yard care jobs to be had, like lawn mowing or trimming trees.

Pet Sitting/Dog Walking

Spring begins the vacation season – the time of year when your neighbors and local pet owners will need someone to care for their pets while they’re away.

Pet-sitting can include feeding cats, caring for a pet in your home, and most of all, dog walking.

You can advertise your animal loving, pet whisperer skills by hanging flyers around the neighborhood, but your best bet is to join a dedicated pet-sitting app like Rover.com.

Tutoring and Teaching

The school year is almost halfway over, precisely the time students need tutoring help to boost their grades, and start preparing and studying for SATs and other exams.

“The second semester is often the busiest time as students who struggled in the first part of the year seek additional support to earn passing grades, or to boost skills and confidence,” says educational therapist Ruth Wilson.

“Tutors get the satisfaction of helping a young person achieve success, which makes tutoring as personally rewarding as it is financially beneficial,” she says.

To get started, you can market your own skills or sign up on a site like Chegg.com to find in-person or online tutoring opportunities in a variety of subjects.

Another side hustle in the teaching-related family is to teach something that you have a passion for. For example, you can perhaps teach group exercise classes at a local gym or even teach children’s yoga classes. Whereas you can promote yourself, you can also connect with companies that provide you with all the necessary tools and branding to launch your own side hustle. For example, Boston-based Pretzel Kids trains you to teach yoga and mindfulness to kids via an affordable weekend or online certification course. Once you’ve taken the course, you can then join the licensing program for only $19 a month. This gives you the rights to use all of the company’s branding to launch your own Pretzel Kids business. Pretzel Kids Founder Robyn Parets calls it a “kids yoga business-in-a-box.”

“Teaching Pretzel Kids classes using all of our tools and resources is a great way to do something meaningful, while earning money around your own schedule,” says Parets.

Here’s yet another way to earn money teaching something you love: If you’re musically inclined, how about offering guitar, piano or drum lessons? Or, are you a sports lover? Perhaps you can coach or referee in local youth sports leagues.

Become a Tour Guide

Do you know your hometown like the back of your hand? Do you live in an area with a rich cultural history? Consider becoming a tour guide or docent for a local historical society or museum.

“People want to travel, and as a tour guide, you can give them best views of your city. (It’s a) great gig if you are someone who loves exploring and sharing your love for your hometown,” says career blogger Sireesha Narumanchi.

Narumanchi recommends signing up with sites like Vayable to advertise your availability.

Sell Your Stuff

Decluttering your life has a host of mental and emotional benefits, and spring cleaning is the perfect way to get rid of all that extra stuff in your house, apartment, attic or garage.

So, think about selling appliances, electronics, books, toys, bikes, clothing or other unwanted items — either at a local flea market, garage sale or online.

But how do you make it a consistent side gig instead of a one-off sale? One way is to visit thrift shops or department stores, buy items on discount or sale, and “flip” them for sale online at a higher price on sites like eBay or Craigslist.

Of course, the one thing you shouldn’t discount is selling your own creations. If you’ve got artistic skills, you can sell your wares on sites like Etsy.

Ridesharing

Rideshare services like Uber or Lyft have transformed the way we take public transportation, allowing motorists to earn cash using their own cars as a taxi service.

One reason this makes such a good spring side hustle is that the snow, ice, sleet and otherwise treacherous, wintry driving conditions are gone. You can share a scenic, springtime drive with others and get paid to do it.

Driving for a rideshare service also means you can set your own hours, drive when you want to, and get compensated quickly and easily. In fact, enrolling in direct deposit through Chime can get you paid two days early. Score!

Springing for a Side Gig

If you’re looking to rake in some extra income as the warmer weather approaches, this list should give you lots of ideas.

One more tip: Whether your side gig leads to a modest windfall or becomes something more lucrative, downloading the Chime banking app is simply the best way to manage your newfound earnings. In fact, the Chime app includes an automatic savings feature that helps you save money every time you’re paid. Are you ready to get a jump on spring with your new seasonal side hustle?

 

How This Millennial Side Hustled to Millionaire Status

You can call him king of the side hustle, but he will answer to Grant.

Grant Sabatier, 34 and a self-made millionaire, attributes his five-year rise to success to side hustling. Yes, he really side-hustled his way out of $30,000 debt and racked up one million plus in savings while working a 9-to-5 job.

But Sabatier, who runs Millennial Money, wasn’t always so money savvy. Not too long ago, his life looked like that of many millennials. In 2010, he lost his office job and moved back in with his parents with only $2.26 in his bank account. During this time, he applied to more than 200 jobs with no bites – not that he wanted to return to cubicle life.

The Google Searches That Changed Everything

Sabatier turned to Google for answers. And, his search for the best money books led him to Your Money or Your Life by Vicki Robin and Joe Dominguez.

“I read the book and it completely changed my life,” he says.

“One of the co-authors, Joe Dominguez, actually retired at the age of 30, and it was so mind-blowing. I’d never heard of anything like that.”

Google also led him to the discovery of Google ads. He discovered that running Google campaigns for others was profitable. With the power of YouTube, he learned everything he could.

“The fastest path, I think, to six figures is just to get Google AdWord certified. Google offers a free certification exam, and it’s amazing. I mean, that’s how basically I made all of my money,” says Sabatier.

Not only did his new skillset earn him a digital marketing job in Chicago, but it was the foundation of his side hustle success.

The Many Side Hustles of Sabatier

Running one side hustle is a huge time commitment. Balancing 11 to 14 of them might be downright crazy, but that was Sabatier’s life at one point.

“I was working literally all the time,” he says.

He basically worked late at his digital marketing job to learn more from co-workers. He would then start his side business work after that and work as late as he could. He committed his weekends to the hustle, too.

“About three months in, I got my first side hustle gig, which was building a $500 website for a lawyer,” Sabatier says.

During this time, he started his own digital marketing agency. He also launched a second agency with two others. His businesses grew fast. Three months after his first $500 website, he sold his first $50,000 website.

“By the end of that first year, even though my full-time salary was $50,000, I’d made over $300,000.”

A Closer Look at Successful Side Hustles

You don’t need a dozen side hustles to see financial results. The majority of Sabatier’s side business income came from one area – SEO and digital marketing consulting. Here is a deeper look at his most successful gigs.

SEO and Digital Marketing

Since the beginning, Sabatier booked jobs in this niche. Yet, while his early start in the field proved lucrative, there are now scores of SEO experts for hire and competition is stiff. Does Sabatier still think this is a side hustle to pursue?

 

“Oh absolutely, I mean the Internet’s not slowing down. Certainly, areas are more

competitive than they were before, but demand just continues to grow for these skillsets.”

 

“That’s an important thing to note. Because just working to get a job is different than building a skillset that’s going to help you for the rest of your life. Having a diversity of skillsets in the digital space is setting you up for jobs that don’t even exist yet,” he says.

Domain Reselling

One of Sabatier’s favorite side hustles is buying and flipping domain names. He purchases domains from GoDaddy’s website and through auctions, and then sells them for a higher price. No website building required here.

“The simple rule of thumb is buying the highest value keyword domains,” he says.

“It’s very hard to buy a one-word domain now, but you can still buy two-word domains.”

He suggests combining two popular words and to stick with dot com names. How does he know which domains to buy? “It helps to really specialize in a niche that you know,” he says.

While Sabatier specializes in money and higher-ed domains, he is savvy when it comes domains in any industry. While watching Keeping Up with the Kardashians with his wife, for example, he noticed the way Kanye West was looking at Kim in her Miami store.

“You could just tell how smitten he was with her,” he says. “I was like, oh they’re totally going to date. So, I got on my phone and bought kimandkanye.com and kanyeandkim.com.”

While he can’t disclose how much he made on those sales, you can bet there were a few zeros attached to the price.

Other Side Hustles

You would need a book to detail all of Sabatier’s side hustle adventures. Speaking of books, Sabatier’s book Financial Freedom has a step-by-step framework to pitch, launch and grow a profitable side hustle.

 

For brevity’s sake, here is a list of some of his other hustles, besides Google campaigns, domain buying and selling, and building websites:

  • Concert and event ticket flipping
  • Dog walking
  • Launching a blog
  • Campers and moped flipping
  • Freelance white paper writing
  • Selling prospect leads to law firms

Words of Wisdom

“A side hustle’s a great thing to do if you have debt. People focus way too much on the debt that they have, and it stops them from going out and making more money,” says Sabatier.

“There’s a limit of how much you can cut back, but there’s not a limit to how much

money you can make. And so, you should spend your time trying to make more money.

The net ROI of that is going to be significantly higher than just cutting back over the long

term.”

 

On that note, go forth and side hustle.

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