It’s always a good time to start a side hustle. In today’s economy, you won’t get by with just a single income source. You need to open up other revenue streams so you can afford the kind of lifestyle you want. As technology continues to evolve, the options for earning extra are broadening.
It could get daunting to choose a side hustle that pays well and makes good use of your skills and education. With that being said, this guide should help you narrow down your choices into a few extra income streams that will work in your favor in the coming year. Make 2024 a profitable and productive year by opting for these worthwhile side hustles.
1. Create a Substack newsletter
If you’re fond of writing non-fiction or sharing knowledge and insights about what you’re passionate about, consider starting a newsletter through platforms like Substack. It’s a great way to position yourself as a thought leader. As long as you craft great content that attracts eager subscribers, you should be able to earn $60,000 at most annually. This should be enough to cover the mortgage payments you make on a single-family property.
2. Start an online art store
Platforms like Etsy have been around for a very long time and they’re expected to become even more popular among artists who want to monetize their work. Use these platforms to sell merchandise from shirts and mugs featuring your work. You can also set up an online art shop that sells original prints. This platform is also a great way to showcase your creative skills if you’re also looking for work in the freelance design industry.
3. Lend your academic expertise
If you have earned a Master’s degree in any discipline, transform your academic training into a profitable service by taking up jobs as an online tutor. From undergraduate students to executives aiming to complete their PhDs, you can help boost their learning experience by lending your time and expertise.
You can find online tutoring jobs with Spires or platforms like LinkedIn. Just be sure to price your services around the average market rate without undervaluing your experience.
4. Provide digital marketing support
By 2024, digital marketing will have become a different playing field as businesses race to harness AI to create engaging and cost-effective campaigns. This will highlight the need to hire a digital marketing specialist even more. As competition continues to rise, there is a strong demand for social media managers, bloggers, lead generation and SEO specialists, and content marketing strategists.
5. Start a podcast or YouTube series
The streaming community is expected to flourish even further in 2024 as the year welcomes a new generation of content creators. The field is going to be oversaturated, so to earn more and build a better reputation as a thought leader create original and useful content. Don’t follow what’s trending. Instead, chart your path by coming up with a series that focuses on topics that no one else is talking about.
Endnote
Coming up with multiple income streams helps you hurdle economic uncertainties. It’s also a crucial part of monetizing the things you love doing so you can secure your lifestyle and accomplish your most important goals.
