The Best Side Hustle to Make Extra Money Now
A side hustle is a great way to pad your emergency fund, pay off debt, and save for retirement. In fact, nearly 45% of Americans have a gig on the side to supplement their primary income.
There are plenty of side hustle options. But with so many to choose from, it can easily feel overwhelming to choose one — especially if you’re strapped for cash now.
Here are some side hustle basics, including what you need to know before you dive in to a new gig, and a great side hustle option to consider.
What Is a Side Hustle?
A side hustle (also known as a side gig or side job) is any sort of ongoing work that provides another source of income in addition to your primary job. A side hustle could be active, like babysitting, or passive, like peer-to-peer lending.
What Are The Benefits of Having a Side Hustle?
Making extra money is one of the biggest benefits of having a side hustle. Many people take on side hustles to help save up for a big purchase or significant life event, pay off lingering debt, or to help make ends meet in a crunch. But these gigs have other benefits that might not be as obvious.
For starters, they can be an excellent way to network. That passenger you drop off at the airport (or even the family you dog walk for) might just be the link that helps you land your next job.
Depending on what sort of gig you pursue, side hustles can also provide a great opportunity to learn new skills or build on skills you’ve already learned. You can even use side gigs to hone soft skills like communication and social intelligence.
Starting a Side Hustle: Things to Know
Before you start a side hustle, there are a few things to consider. First, think about what you’re good at and what you like to do. Do you love meeting new people and striking up conversations? Figuring out your passions and strengths can help you narrow down what sorts of side hustles you could reasonably accomplish — and enjoy doing.
Next, look at your schedule. How much time do you have to commit to another gig? Is your full-time job fairly flexible, or will you only be able to work your side job on nights and weekends? Do you have children or other responsibilities that will limit the amount of time you have for a side hustle?
After you know what your schedule will allow for, establish how you’ll manage earnings. This is a critical step that’s easy to forget. You may also have a need or preference on how you get paid, and how often — some side hustles have the added benefit of being paid on the spot, rather than waiting on a paycheck cycle.
Perhaps you want a side job just to have more spending money. But no matter what your financial goals, it’s good to have a plan for your extra income. Will your earnings go directly into an account earmarked for paying off debt? Should you funnel that money into a savings account? Or will it simply cushion your checking account and help you avoid overdrafting? Knowing the answers to these questions before you start will help you stick to your financial goals.
Get Started with the Perfect Side Hustle Today: Drive with Lyft
One of the best options for a side hustle is driving with Lyft. Whether you want to earn on your own schedule, get paid instantly, or get started working right away, there are a number of reasons driving with Lyft is the perfect side hustle.
Flexibility: Lyft drivers don’t have a set schedule, so it’s a great option if you have responsibilities that prevent you from working a certain number of hours per week or if you’d simply like more flexibility.
24/7 support: The Lyft support team is available through a variety of channels to help drivers at any time. You can connect with support through our Help Center or, in emergencies, contact Lyft’s Critical Response Line through the app.
Driver safety and protection: At Lyft, safety is paramount. For starters, Lyft offers additional insurance policies at no extra cost to drivers. Plus, for extra peace of mind, the Lyft app allows you to easily share your real-time location with contacts. Check out the safety page for all of our safety features.
No vehicle necessary: You don’t need to own a car to drive for Lyft. Lyft Express Drive allows you to rent out a vehicle at any time.
Tools to help you maximize your earnings: Drive smarter with features like real-time maps of request hot spots and demand forecasts to help you make the most of your time on the road.
Quick and easy payment: Features like Lyft’s Express Pay allow you to cash earnings out to a debit card instantly.
Potential earnings:
Earnings vary based on location and other factors, such as which mode you drive in. No matter how much you earn, you’ll keep 100% of your tips. You may also be eligible for cash bonuses for providing great service and driving during busy hours. To learn more, see Lyft’s guide to driver pay.
How to get started:
To become a driver, you’ll need to pass a background check and hold a valid driver’s license and car insurance policy. Once your application is approved, just download the app and you’ll be free to accept rides whenever you’d like.
Ready to give it a shot? Sign up to drive today.