BATON ROUGE, La. (BRPROUD) – The U.S. economy appears to be in a state of flux as citizens tighten their budgets and experts debate whether or not the nation is in a recession.
Many Americans who are already struggling to cover the costs of essentials are bracing for the possibility of even more economic challenges.
Fortunately, quite a number of people have found relief by taking on a few side hustles. In some cases, these gigs and entrepreneurial endeavors eventually garnered more income than the average full-time job.
Five of 2022’s most lucrative side hustles are listed below:
#1 Online Tutoring
This side gig isn’t a gas guzzler as you can carry it out from the comfort of your own home, and set your own schedule.
Students of all ages can be potential customers as you offer tutoring in areas like math, science, foreign languages, and even music lessons.
If you’re concerned about how to find students, you can look into utilizing an online platform to book candidates such as Chelsea International Education, Wyzant or Varsity Tutors, which typically includes getting paid at a rate of about $20-$80+/hour, depending on how you price your services.
#2 Bookkeeping, taxes, and financial services
Anyone with a background in accounting or finance, can look into getting the appropriate license and then offer bookkeeping services, tax preparation services, or other financial services to people in their community.
People are often willing to pay a financial expert quite well for handling accounting and/or tax related duties that they don’t feel capable of taking care of on their own.
#3 Rent out your car when you’re not using it
For those of us who work from home and go for days without using our vehicle, it may be possible to capitalize on this by renting out our cars.
According to a recent article in Time magazine, “If you have a vehicle that doesn’t get used much, you could rent it out and make extra money. Apps like Turo, HyreCar, and Hagerty DriveShare let you list your car for rent in select cities. Think of these services as being like an Airbnb, but with your car.”
#4 Offer in-person services
There are certain in-person services that can’t be automated, and these can become a lucrative side business. Some of these services include pet-sitting, house-sitting, child care, housekeeping, and lawn maintenance.
#5 Editing and proofreading
An article from Career Side Kick states, “Many writers, businesses, and even non-profit organizations need editing and proofreading services. So if you’re detail-oriented and have a great grasp of the English language, you could become a freelance editor or proofreader.”
To tap into an international client base, an editor can utilize a site like Upwork to help them find more job offers.
Aside from the side hustles listed above, there are other options to consider, such as posting skills on Fiverr, driving for Uber, selling on Amazon, or monetizing your home on Airbnb.
As you weigh the value and cost of picking up a side hustle, it may be helpful to keep in mind that choosing the right side hustle for your personality and skill set are critical. These two factors may play a large role in determining the gig’s longevity and success.