Need Extra Cash? Here's How to Choose a New Side Hustle
Whether your weekday 9-to-5 paycheck doesn’t cover your monthly expenses or you’re simply saving up for a big ticket item like a European vacation, there’s likely a second job out there that’s tailor-made for you, as evidenced by the diagram below. Published by financial resource blog Quid Corner—a property of British online lenders QuickQuid—and spotted by Entrepreneur, the flow chart can help you choose a side hustle that fits a variety of interests, lifestyles, and schedules.
More than 44 million Americans—the majority of which are Millennials—have a side hustle, according to a recent survey by consumer financial services company Bankrate. Some need extra cash to help pay for living expenses, while others are seeking personal fulfillment, a new skill set, or an expanded resume.
To avoid turning a side hustle into a side grind, opt for something that's personally enjoyable, or easy on time and effort. A few examples include freelancing; using hobbies like crafting or web design to launch a solo business; and using apps and websites to rent your car, home, and clothes to needy strangers. (Just remember to steer clear of any potential pitfalls by carefully managing your time, taxes, and money.)