The cost of living is rising, and many are looking for extra money. The idea of a “side hustle” has changed from a luxury to a must-have. A MarketWatch survey shows 54% of Americans now have a side job. This shows how popular side hustles have become.
Remote work became more common during the pandemic. People started looking for jobs they could do from anywhere. Now, many are taking on extra work, like part-time jobs or online ventures. A 2023 Deloitte survey found Gen Z workers are leading this trend.
This guide will help you understand the many side hustle options out there. It will give you the knowledge and strategies to make the most of these opportunities. You’ll learn about freelance writing, social media management, e-commerce, and more. This article will show you the best ways to increase your income in 2023 and beyond.
Key Takeaways
- Side hustles have become a way of life for millions of Americans, driven by the need to supplement income and the rise of remote work.
- Online side hustles offer flexibility, location independence, and the potential for significant earnings, with some opportunities paying $25-$50 per hour.
- The guide explores a wide range of online side hustle options, from freelance writing to e-commerce and passive income streams.
- Leveraging in-demand skills and digital platforms can be a game-changer for those seeking to boost their income and financial security.
- The guide provides practical tips and strategies to help readers identify, launch, and scale their own successful online side hustles.
What are Online Side Hustles?
In today’s changing job world, “side hustle” is a big term. A side hustle is an extra job or way to make money outside your main job. Online side hustles are tasks you can do from home or anywhere with internet.
Definition and Benefits of Online Side Hustles
Online side hustles let you make extra money. They are flexible jobs that use technology. You can work on them from anywhere, without leaving your house.
Here are some main benefits of online side hustles:
- Earning extra income: Online side hustles help you make more money, giving you different ways to earn.
- Flexibility and convenience: You can work when you want, at your own speed, without the usual office rules.
- Skill development: Online side hustles can teach you new skills, like digital marketing or web design, making you more skilled.
- Work-life balance: They give you a creative outlet and make you feel fulfilled, helping you keep a good balance between work and life.
If you want to pay off debt, save money, or just have more money, online side hustles are worth looking into. They can be both rewarding and profitable.
The Rise of Online Side Hustles in 2023
The pandemic has greatly increased the number of online side hustles. Millions of Americans started working from home and wanted more money. They found they could make extra cash online using their skills and interests, without commuting.
Also, the rising cost of living in the U.S. made people look for extra income. They wanted to earn more to cover their expenses.
Factors Driving the Growth of Online Side Gigs
Several things have made online side hustles more popular in 2023:
- The pandemic led to more remote work and the need for extra money.
- The increasing cost of living in the U.S. made people seek more income.
- Online work lets people earn money without the usual work constraints.
- The growth of e-commerce and online marketplaces opened new business opportunities.
Now, over a third of U.S. adults have a second job. Nearly half of millennials and Gen Z are into online side hustles. The average side hustle makes $250 a month. Many use this extra money to pay off debt or cover living costs.
Hybrid and remote jobs give people more time to work on their side hustles. This shows that online side hustles are here to stay.
But, there are worries about burnout and lack of safety for full-time freelancers and gig workers. Still, the chance for flexible work and passive income keeps drawing Americans to online side hustles. Check out more side hustle ideas to start making extra money.
Top Reasons to Start an Online Side Hustle
In today’s fast-paced economy, many people are turning to online side hustles to boost their income. You might want to pay off debt, build wealth, or follow a creative passion. An online side hustle can change the game for you. Here are the top reasons to start one in 2023:
- Providing Multiple Income Streams: With over $100,000 in debt for the average American, an extra income can be a big help. In fact, 44% of new business owners in 2023 started while working another job, up from 27% the year before.
- Debt Repayment: An online side hustle can help you pay off debt fast. Just earning an extra $100 a month can make a big difference.
- Wealth Building: Once you’re debt-free, you can use your side hustle money for savings, an emergency fund, or investments. Millennials are leading the way in this.
- Creative Outlets: Day jobs can be dull and unfulfilling. An online side hustle lets you pursue your passions and be creative. This can improve your mental health and happiness.
“Side hustles provide an additional income stream unrelated to the primary job, offering flexibility in work schedules and the opportunity to engage in activities one enjoys.”
Looking to make more money, pay off debts, or try something new? An online side hustle could be the answer. With the right approach, you can make your side hustle successful and fulfilling.
Social Media Management
In today’s world, social media is key for businesses to reach their audience and grow online. This has led to a big need for skilled social media managers. They create engaging content, talk to the audience, and help clients see results.
Essential Skills for Social Media Managers
To be a great social media manager, you need a mix of skills. Here are some important ones:
- Strong communication and writing skills for making posts that grab attention
- Creative skills to make content that stands out
- An analytical mind for understanding social media data and making smart choices
- Deep knowledge of social media platforms and how they work
- Good time management to handle many clients and projects
Finding Clients on Freelance Platforms
Freelance sites are a great way to find clients for social media management. Sites like Upwork and Fiverr have many clients looking for experts. By making a strong profile and applying for projects, you can start a successful side hustle.
| Freelance Platform | Average Hourly Rate for Social Media Managers |
|---|---|
| Upwork | $25 – $75 per hour |
| Fiverr | $10 – $150 per gig |
| Freelancer.com | $15 – $60 per hour |
The digital marketing world is worth $780 billion in 2023 and is growing fast. With a growth rate of 11.1% from 2024 to 2030, there are many chances for a profitable side hustle in social media management.
Blogging and Content Creation
In the world of online side hustles, blogging and content creation are exciting ways to share your creativity and make money. If you love writing or have a lot to say, blogging could be your ticket to financial freedom.
Starting a blog lets you share your views, knowledge, and stories with more people. At first, you might not make much money. But with hard work and a good plan, your blog can grow into a successful online business.
Blogging is great because you can make money from it. As your blog gets more popular, you can earn through affiliate marketing, display advertising, and selling digital products or merchandise. This turns your blog into a lucrative passive income stream.
To start, use easy-to-use websites like Wix or Squarespace to create your site. Then, focus on making engaging content that your audience will love. Share useful info and stories regularly to build a loyal following and become a go-to expert in your field.
Whether you’re already good at writing or just starting, blogging and content creation are great ways to make money online. With hard work, creativity, and a good plan, you can earn passive income and achieve financial freedom in 2023 and beyond.
online side hustles 2023
The way we work is changing fast. New trending online side hustles are popping up to fit the needs of employers and workers. These new online gig jobs let people make extra money in flexible ways.
AI Model Testing
AI chatbots like ChatGPT are getting more popular. Companies need people to check how well these AI models work. You can make $12 to $15 per hour testing AI, up to 25 hours a week, says Telus International.
Remote Career Coaching
More people are changing jobs, so there’s a big need for career coaches who work online. Online career coaching is a great way to earn money, with some coaches making $55 to $65 per hour. They work 20 to 25 hours a week, as seen in a job ad in San Francisco.
Online Tutoring and Teaching English
Thanks to the pandemic, online learning is more popular than ever. This means teachers can make extra money by tutoring or teaching English online. Sites like TutorMe offer $16 per hour, while Preply pays $15 to $25 per hour to English tutors.
These are just a few examples of the trending online side hustles for 2023. By checking out these new online gig jobs, people can find emerging remote work opportunities. This helps them make more money.
Freelance Writing and Proofreading
Freelance writing and proofreading are great online side hustles. They are in demand as businesses want to grow their online presence with content. With more independent publications and bloggers on platforms like Substack, there’s a big need for skilled writers and proofreaders. These creators often don’t have the editorial support of big media outlets.
Platforms and Rates for Freelance Writing Gigs
You can find freelance writing and proofreading jobs on Upwork and Fiverr. Rates vary, from $13 per 1,000 words for proofreading to $30 or more per hour for experienced writers. Industry data shows that remote proofreading jobs pay an average of $20-$40 per hour. The median proofreader salary is $54,805 a year.
Freelance writers can make between $0.02 to $0.049 per word. Top writers can earn up to $45 per hour.
| Skill | Average Hourly Rate | Average Annual Salary |
|---|---|---|
| Proofreading | $20 – $40 | $54,805 |
| Freelance Writing | $30+ | Varies by project |
By using their writing and language skills, people can find these freelance jobs. They can make extra money while working from home. Sites like Upwork, Fiverr, and Freelancer have many freelance writing and proofreading jobs. They take a cut of the earnings, usually 5% to 20%.
“Freelance writing and proofreading let people turn their skills into a profitable online side hustle. They can earn good money while working on their own time.”
Virtual Assistance
In today’s world, virtual assistants are more needed than ever. This online side hustle lets you use your admin skills to make extra money from home. You can do tasks like scheduling and managing emails for clients.
Virtual assistance lets you focus on what you’re good at. If you’re great at data entry, bookkeeping, or helping customers, there’s a role for you. A recent survey by Zapier found that 59% of Gen Zers have a side hustle, working an average of 10.5 hours a week online.
The virtual assistant field offers good pay for your time. Virtual assistants can earn $18 to $21 an hour on sites like Belay. Roles like managing emails or coordinating subscriptions can pay over $100 an hour. On Fiverr, virtual assistants can make up to $250 per project, showing how much you can earn with this side hustle.
To do well as a virtual assistant, you need to be good at communicating and organizing. Some gigs on Robert Half offer up to $30 an hour for contract or part-time work. By getting happy clients and learning new skills, you can make a good living as a virtual assistant.
“With the right entrepreneurial mindset, a virtual assistant side hustle can even be turned into a six-figure career.”
Online Tutoring and Teaching
Online tutoring and teaching have grown popular since the pandemic. Teachers now see it as a way to make extra money. They use their knowledge in subjects like calculus, biology, or history to help students one-on-one.
Platforms and Subjects to Consider
To start tutoring online, check out Tutor.com, Wyzant, TutorMe, Varsity Tutors, Superprof, and Club Z!. These sites help tutors find students who need help. Getting special teaching degrees or credentials can also make you stand out.
Subjects like math, science, languages, and test prep are in high demand. But there are more subjects too. Tutors can help with history, economics, computer science, and more, meeting different student needs.
| Platform | Subjects Offered | Hourly Rate Range |
|---|---|---|
| Tutor.com | K-12, college, test prep | $20 – $100 |
| Wyzant | K-12, college, test prep, languages | $25 – $80 |
| TutorMe | K-12, college, test prep | $30 – $90 |
| Varsity Tutors | K-12, college, test prep, languages | $35 – $100 |
| Superprof | K-12, college, languages, arts | $20 – $70 |
| Club Z! | K-12, test prep | $25 – $75 |
Online tutoring and teaching offer flexibility and good pay. They’re great for teachers wanting to earn more.
E-Commerce and Online Stores
The e-commerce industry is growing fast. Online stores offer many benefits, like drop shipping, easy-to-use interfaces, digital payments, and products available all the time. Sites like Shopify and Amazon help e-commerce brands set up online stores. They teach entrepreneurs how to run the business, handle transactions, and build their brand.
For niche markets, you can sell on Etsy and eBay, or start your own store with WordPress. By keeping up with market trends and cultural shifts, online store owners can make good money.
Statista predicts e-commerce retail sales will jump from $5.2 trillion in 2021 to $8.1 trillion by 2026. Shopify, a top e-commerce platform, costs about $31 a month in the U.S. Sometimes, you can get the first three months for just $1.
For those wanting to start an online side hustle, e-commerce has many options. You can drop ship products or sell digital goods. Printify, a leading print-on-demand company, offers over 100 products. This makes it easy for entrepreneurs to set up their own e-commerce stores.
Digital products like e-books, online courses, and graphic design assets can have high profit margins. For example, a seller makes $200 a month from selling a freelance writing e-book made with Canva. In 2022, WebMonkey earned $272,000 after five years of blogging, showing the potential for passive income in e-commerce.
Whether you’re into drop shipping, creating your own store, or selling digital products, e-commerce offers many chances for online side hustlers to increase their income and financial freedom.
Passive Income Streams
There are many ways to make passive income online. These income sources can give you money with little work, helping you earn more over time. They are great for making extra money and growing your wealth.
Ideas for Generating Passive Online Income
Here are some top ways to earn passive income online:
- Renting out a home or spare room through Airbnb
- Selling digital products like ebooks, courses, or templates
- Earning commissions through affiliate marketing programs
- Monetizing a YouTube channel with ads and sponsorships
- Creating and selling stock photos, graphics, or other digital assets
Starting passive income streams takes more work upfront, but the rewards can be big. For instance, a blog can make $1,000 a day or more through ads, affiliate income, and sponsored posts. A YouTube channel can bring in $600 to $1,000 in ad revenue monthly after a year and a half of work.
| Passive Income Idea | Potential Earnings |
|---|---|
| Renting a spare room on Airbnb | Varies based on location and property, but Airbnb hosts use strategies to make hosting almost fully passive |
| Selling digital products (ebooks, courses, templates) | $5 to $20 per sale, with the potential for autopilot cash flow for years |
| Affiliate marketing | Commissions ranging from a few dollars to hundreds per sale, with the ease of execution and low risk making it a popular passive income strategy |
| Monetizing a YouTube channel | $600 to $1,000 in monthly ad revenue after consistent work for a year and a half |
| Selling stock photos and graphics | Royalties and commissions for each download, with the potential for ongoing passive income as the portfolio grows |
By looking into these passive income ideas, you can build a mix of income streams. These can help you earn more money and reach your financial goals.
“Passive income is the holy grail of wealth creation. If you want to be financially free, focus on building passive income streams.”
Tips for Successful Online Side Hustling
More people are turning to online side hustles for extra income, to follow their passions, or for a better work-life balance. The digital world offers many chances to succeed. Here are some tips to help you do well with your online side hustle:
- Choose a side hustle that fits your interests and skills. This keeps you motivated and excited, even when you’re busy with other things.
- Plan your time well by setting aside specific hours for your side job. Make a routine that lets you focus without hurting your personal life.
- Keep a good balance between work and life to prevent burnout. Take breaks, take care of yourself, and set clear lines between your main job and side hustle.
- Put some of your side hustle money back into the business to help it grow. This could mean buying tools, marketing, or learning more to get better at what you do.
- Network and make friends in your field to find more chances. Meeting people who think like you can lead to partnerships, referrals, and lots of new knowledge.
- Be ready to change as the market changes and your interests shift. Keep an open mind and try new things to make more money online.
- See your side hustle as a real business, even if it’s part-time. Think professionally, be disciplined, and aim for the best you can be.
Follow these tips, and you’ll be on your way to making your online side hustle a success. Remember, with hard work, creativity, and a good plan, you can do anything.
“The future belongs to those who see possibilities before they become obvious.” – John Sculley
Conclusion
Online side hustles are now a key way for people to make extra money and try out being entrepreneurs. With more people working from home and wanting extra cash, many online side gig options have popped up. These range from managing social media and writing for hire to selling things online and making money passively. People can use their skills and interests to find side hustles online that offer more money, creative work, and even a chance to work full-time.
As work changes, getting into online side hustles can help you earn more and balance your work and life better. With smart planning, you can take advantage of the growing need for extra income and the perks of working from home. Keeping up with the latest in online side hustles can help you succeed and open up new chances for growth.
If you want to earn more, work on a hobby, or change careers, online side hustles have many options. By being flexible, using your skills, and thinking like an entrepreneur, you can find financial freedom and a better work-life balance.
FAQ
What are online side hustles?
Online side hustles are jobs done from home, besides a main job. They help people earn more, pay off debt, and be creative.
What factors are driving the growth of online side hustles?
More people are working from home now, thanks to the pandemic. The high cost of living in the U.S. also pushes people to find extra work.
What are the top reasons to start an online side hustle?
People start side hustles for extra income, to pay off debt, build wealth, and express their creativity.
What skills are needed for a social media management side hustle?
You need good communication, creativity, and knowledge of social media to manage social media for others.
How can a blog become a lucrative side hustle?
A blog can make money through affiliate marketing, ads, and selling products. It takes hard work and dedication to grow an audience.
What are some trending online side hustle opportunities to explore in 2023?
Hot side hustles include testing AI models, career coaching, and teaching English online.
What platforms and rates can freelance writers and proofreaders expect?
Freelancers can find work on Upwork and Fiverr. Rates range from per 1,000 words for proofreading to over per hour for skilled writers.
What are the benefits of an online virtual assistant side hustle?
Virtual assistants handle tasks like admin work and bookkeeping. It’s a flexible job that can grow into a big career with the right skills.
What platforms can online tutors and English teachers use to find students?
Tutors can use Tutor.com and Wyzant to find students who need help.
What are some ideas for creating passive online income streams?
Ideas for passive income include Airbnb rentals, selling ebooks, affiliate marketing, YouTube monetization, and selling digital assets.
What tips can help ensure success with an online side hustle?
For success, pick a hustle that fits your skills and interests. Manage your time well, keep a balance between work and life, and reinvest your earnings. Networking, being adaptable, and treating your side hustle as a business are also key.