Financial freedom is something that most people aspire to, so we’re here with some easy side-hustles that can help you to achieve it! Whether you’re more technically minded, have a specific skill, are more creative or want to try out something completely new, we’ve got options for you. So, get ready to learn about some new opportunities to help you move towards being financially free.
First up, if you have a specific skill that you would like to pass onto others, then tutoring is a great thing to do! It’s really flexible, it pays well, and there are lots of websites out there that you can sign up to and you’ll be connected to people looking for the tutoring you’re offering. This could literally be anything, whether you are fluent in a particular language, you’re great at playing an instrument, you have the knowledge to help students with a particular subject or something more creative like teaching art or pottery. Whether you want to do a couple of hours after work everyday and earn a good amount of money, or you want to just do a couple of hours a week. This is definitely a good route to look into as a side-hustle, especially if you already have the skills there to do it!
Consider Stocks Investments
Another route to consider is going towards stocks investments and trading online. If you know a bit about stocks, shares or digital currencies like crypto, technology has helped these forms of investment to become much more automated. So, what previously would have had to be managed by a human can now be completely handled by bots and algorithms, from predicting trends to analysing incredible amounts of data, then making investments based on that on your behalf. You do need some knowledge to make sure you are making legit investments and using the right platforms, however it’s so much more accessible to trade stocks as a side hustle than ever before. You do need to be cautious of different scams that are out there, because with more advanced technology also comes so many more scams. Make sure you take the time to learn about the scams and what to look out for, and if you are worried you have been scammed, get in touch with investment fraud lawyers as soon as possible to hopefully get some of your money back! As with all investments this does involve the element of risk, so you need to be prepared.
For the creative people out there, a fantastic side hustle with very high profit margins is upcycling furniture. Look on local marketplaces and charity shops to find really cheap furniture that is in need of some love. Then, again look on marketplaces for supplies like paint brushes, furniture paint and primer, sanding tools etc, to keep your costs really low when you’re getting started. Of course, you can also get all of these things in your local hardware store. From here, give the furniture a good clean and fix anything that needs repairing, then sand everything down, prime it and paint it. Finish by repairing the hardware and you will have a brand-new looking piece of furniture that you can sell! On marketplaces, there are people who spend perhaps £30 all in on the supplies and the piece of furniture, selling for around £200, so if you think this could be a good option for you give it a go!
Another side-hustle that many people have found success with is drop shipping. This involves you selling products, either through your own website or through a third party like Etsy, but the products being shipped directly to the customer by a supplier rather than you keeping any stock. As a result, you can start your business with next to nothing in terms of initial investment. When you take some time to learn about it, it could become a great side hustle. For a bit more detail on this, Shopify has a good dropshipping guide where you can learn more.
It is really important that you find the right products in order for this to be a success, and also at the right price. You can find some really cheap products to dropship with decent profit margins, however often delivery time will be weeks, so you need to decide whether that’s the direction you want to go in or sacrifice some profits for a shorter delivery time and therefore potentially more customers in the long run.
This is a super flexible side hustle that could be a great option for you!
Side-hustles don’t need to require lots of new research and hours of time invested like with other options such as investing in property, but can quite simply utilise your existing skills and interests to make some extra money!
Amy Jones is a freelance writer for many different business publications. With a range of knowledge in the business sector, she is currently researching brand development and what makes brands unique. With the Northern Powerhouse growing stronger, she has enjoyed working with different investment fraud lawyers in the city centre and hopes to work with different businesses in future.