Top 3 side hustles that will instantly boost your income


Top 3 side hustles that will instantly boost your income

Are you unsatisfied with your current income? Like many people, you may only be making enough to pay the bills, which means you don’t have the extra cash to treat yourself or even put anything towards your savings. To improve your current income, you should consider taking on a side hustle which will allow you to maximise your financial situation. When choosing an additional income, you need to think practically by thinking what you’re good at and what will generate sufficient funds. To help you decide on your next venture, you should take a look at the following side hustles which are both practical and lucrative.

Freelancing 


One of the most popular side hustles at the moment is freelancing, which is basically another way of saying self-employed, however it offers more varied work opportunities, as freelancers tend to work with different clients. For example, if you’re a good writer, you may want to consider freelance writing, which could involve anything from writing blogs, copywriting, ghostwriting, social media management and more. You can find jobs like this on sites such as Freelancer and Upwork where employers post job opportunities regularly for varied prices. The majority of freelance writers charge an average of $20 per hour, although this will depend on experience, so there is always the potential to earn more.

Investment 


Some people tend to stay clear of investing, as they associate it with risk, however, investment is actually one of the most lucrative ways to earn passive income. Property investment, for example, is one of the most profitable markets in the world, as after all everybody is always on the look for a home, an office or a hotel. There are various types of real estate investment, with buy-to-let property being one of the most attractive prospects, due to its potential to provide high returns. According to the RW Invest buy to let guide, first-time investors need to consider their target tenant and where they would want to live to generate the best possible returns. This will enable you to invest in a buy-to-let property in a good location that is always in demand, allowing you to receive consistent income in the form of monthly rent. While this may seem like a lot of work, you can actually take on a hands-off approach which means experts such as developers, investment experts, property managers, and more will help you with everything and offer you a great source of passive income.

Tutoring 


If you’re knowledgeable on a particular subject like Mathematics and English or even proficient in a language, a great way to earn some cash on the side is through tutoring. You can either do this face to face or online via Skype, the latter being the more popular option, as you can now tutor people all over the world. As a tutor, you can teach both children and adults, as there is always someone looking to learn something new or expand their knowledge. This is a popular service amongst college students who may be struggling or for anyone who wants to improve their grades. You can cater to those in need by advertising on social media or on sites like Chegg or Tutor.com. Many who find success in tutoring on these have earned an average of over $26,000 which is an excellent addition to your full-time income.