In this article, we will look at the 30 most profitable side hustles to make extra money. You can also check out the 22 Lucrative Side Hustles for Teachers To Make Extra Money.
What Does the US’s State of Economy Mean For Gen Z?
The state of the economy is increasingly pushing younger generations toward side hustles and alternative income sources. Inflation and rising interest rates have been key factors as US inflation has hit a high of 7.8% in 2022 before easing to around 4.3% in early 2024. This economic strain has left many young adults struggling with debt, as evidenced by a 30% increase in credit card balances among Gen Z since the pandemic began. With traditional job markets fluctuating and wages often not keeping pace with the cost of living, many are turning to gig economy jobs or freelance work to make ends meet.
Simultaneously, “phantom debt” from buy now, pay later services has worsened financial pressures which leaves many without a clear picture of their true liabilities. The lack of transparency surrounding these platforms means that the young may be unaware of the full extent of their financial obligations.
Why Are Side Hustles Growing Popular?
The growing popularity of side hustles in the US has become a defining feature of the modern economy. According to a survey by Bankrate, more than a third of US adults, including nearly half of millennials and Gen Z, have a second stream of income.
In 2023, the median US side hustle earned around $250 per month, which, while not sufficient to live on, largely helps with paying off debt or saving for bigger expenses. Bankrate found that 45% of side hustlers use their earnings for essential expenses. With student loan debt and credit card debt each surpassing $1 trillion, many Americans, particularly millennials and Gen Z, find side hustles a necessary financial lifeline. For instance, Shonnita Leslie, a 40-year-old program manager, paid off a major portion of her student loans through DoorDash Inc (NASDAQ:DASH) earnings.
Interestingly, side hustles are not just a necessity for those struggling financially. Even those with household incomes exceeding $100,000 are engaging in side hustles to fund leisure activities such as vacations and entertainment. Bankrate reported that 52% of side hustlers use their extra income for discretionary spending or savings.
How to Make an Extra $2000 a Month?
To make an extra $2000 a month, especially with a side hustle or in passive income, you need to generate money even while you are sleeping or working full-time. Let’s look at some of the days you can do it.
By recording a 30-minute audio clip of your voice, you can allow the AI to clone it with platforms like ElevenlabsAI. Each time someone uses your voice for text-to-speech or speech-to-speech applications, you earn royalties. With the default rate of 2 cents per 1,000 audio characters generated, consistent use can bring in sufficient passive income.
Another option is Pinterest Inc (NYSE:PINS) affiliate marketing. For that, you need to create visually appealing pins promoting products from affiliate networks like ClickBank. For example, promoting a language learning course that pays $15 per sale and achieving 133 sales a month would net you $2,000. Consistently publishing high-quality, affiliate-linked pins on Pinterest Inc (NYSE:PINS) can help build a steady income stream and thus, you can make extra income while working full time.
Speaking of Pinterest Inc (NYSE:PINS), over the past month, Pinterest Inc (NYSE:PINS) has fallen 14.14%, while the tech sector lost 5.32%. Analysts expect Pinterest Inc (NYSE:PINS) to report an EPS of $0.28 for Q2 2024, up 33.33% year-over-year, with projected revenue of $847.84 million.
Lastly, consider teaching English online. Platforms like Preply and Cambly offer average rates of $20 per hour. Working just 25 hours a week at this rate will earn you $2,000 a month. To read more about teaching English online, see the 13 Best Companies for Teaching English Online.
Please check Earn an Extra $500 a Week With These 20 Side Hustles and 15 Best Side Hustles From Home.
Our Methodology
For our list of profitable side hustles to make extra money, we identified 50 jobs with flexibility/jobs with remote work availability/low-stress jobs that can allow easy and passive income. Out of those 50, the 30 highest paying were eventually selected. We acquired the salaries/earnings for each role from our salary database.
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30. Pet Sitting
Average Earning: $16/hr
According to Pet Sitters International (PSI), nearly 80% of professional pet sitters expect their revenue to increase in the coming year. PSI’s 2022 survey revealed that 94% of businesses offer basic pet-care visits, 87% provide dog walking, and 59% offer overnight stays.
29. Home Cleaning Services
Average Earning: $18.5/hr
Home cleaning services make a great side hustle due to their low startup costs and high demand. This business can be easily tailored to fit your schedule, making it highly flexible for individuals with commitments like studies or full-time jobs.
28. Gardening Services
Average Earning: $18.64/hr
Some popular online platforms to offer these services are TaskRabbit, Thumbtack, and Angie’s List, where service providers can connect with clients looking for gardening, landscaping, and lawn care.
27. Online Tutoring
Average Earning: $19/hr
Online tutoring is one of the most profitable side hustles to make extra money online in the US. Depending on the subject, tutors can earn between $15 to $180 per hour, with platforms like Outschool, Wyzant, and Lessonface.
26. Transcribing Audio
Average Earning: $19.75/hr
Audio transcribing is one of the side hustles that pay daily with an average pay of $19.75 per hour in the US. With the rise of podcasts, online courses, and virtual meetings, the demand for this job as a side hustle has grown tremendously.
25. Dropshipping
Average Earning: $20/hr
With dropshipping, you can kickstart an e-commerce venture without the need to allocate funds for inventory. By capitalizing on platforms such as Ali Express and Spocket, you can curate products and establish your brand presence online. With an average earning of $20/hr, dropshipping is one of the most profitable side hustles to make extra money from home.
24. WordPress Website Development
Average Earning: $20.5/hr
Developing WordPress websites is a great side hustle because it capitalizes on a high-demand skill with relatively low start-up costs. With millions of businesses trying to have an online presence, skilled developers can easily find clients that require custom websites.
23. Photography
Average Earning: $20.4/hr
With relatively low startup costs, photographers can earn money through different avenues such as event coverage, portrait sessions, stock photo sales, and online tutorials. The demand for high-quality images is constant across industries, from marketing to social media.
22. Social Media Management
Average Earning: $21.5/hr
The earning potential for social media management in the US varies widely but typically ranges from $15 to $50 per hour, depending on experience, expertise, and the scope of services offered.
21. Graphic Designing
Average Earning: $22/hr
Graphic designing is one of the best side hustles that pay weekly. To pursue a side hustle in graphic designing in 2024, one should focus on mastering software like Adobe Creative Suite (Photoshop, Illustrator, InDesign), Figma, and Canva. The next step should be to learn essential design principles, typography, and color theory.
To read more about graphic designing, see the highest paying countries for graphic designers.
20. Become a Fitness Instructor
Average Earning: $/23hr
Becoming a fitness instructor is an excellent side hustle owing to the growing demand for health and wellness. The job offers flexible hours, allowing you to work around your main job. With an average earning potential of $23 per hour, it provides a decent supplemental income.
19. Create Online Courses
Average Earning: $23.5/hr
Once a course is created, it can generate income continuously with minimal ongoing effort. This flexibility allows one to manage their time effectively and hence, they are able to balance their other commitments.
18. Sell Handmade Crafts
Average Earning: $24/hr
With an average earning of $24 per hour, making handmade crafts offers a profitable outlet for creativity. Platforms like Etsy Inc (NASDAQ:ETSY) and local craft fairs provide accessible venues to reach a broad audience.
17. Virtual Assistant
Average Earning: $24.7/hr
When it comes to virtual assistants on Upwork Inc (NASDAQ:UPWK) in North America, those with over 1,000 hours and a 90% success rate usually earn varying rates depending on their skills. For instance, Administrative and Data Entry VAs typically earn between $12 to $20 or more per hour, while Marketing, Customer Service, and Accounting Support VAs can command rates ranging from $20 to $35 or higher per hour. Advanced roles like Executive Assistants or Consultants often earn even more, with hourly rates ranging from $38 to $50 or above.
16. Language Translation
Average Earning: $25/hr
Language translation is a growingly popular side hustle given the growing need for multilingual communication in global markets. Companies like Lionbridge and TransPerfect offer freelance translation opportunities in the US.
15. Remote Bookkeeping
Average Earning: $26.5/hr
Remote bookkeeping allows individuals to work around their primary job or personal lives. The demand for bookkeeping services is consistent, especially among small businesses and freelancers who need help managing their finances.
To read about the earning potential of bookkeeping in general, see the highest paying countries for accountants.
14. Remote Tech Support
Average Earning: $27/hr
With many people working from home, there’s a growing need for IT assistance. This job allows you to work from anywhere with an internet connection. Upwork Inc (NASDAQ:UPWK) is a great platform to check for any job postings related to the role.
13. Get into E-commerce
Average Earning: $28/hr
One can tap into the tremendous potential of e-commerce with minimal overhead compared to traditional businesses and thus, anyone can start with a niche product and grow at their own pace. E-commerce platforms provide tools for managing inventory, sales, and marketing which allows one to automate many tasks, making it one of the easiest side hustles that pay well.
To read more about e-commerce, see the Top 15 Countries with the Largest E-Commerce Industry.
12. Copywriting
Average Earning: $30/hr
It is undoubtedly one of the most profitable side hustles to make extra money for students. Considering the varied factors affecting copywriting rates, pursuing it as a side hustle on platforms like Upwork Inc (NASDAQ:UPWK) can be highly profitable. With copywriters charging anywhere from $50 to $10,000 per project, depending on complexity and specialization, it offers the highest earning potential. Whether it’s crafting PPC ads, blog posts, or sales landing pages, there’s a wide range of opportunities.
11. Become a Youtuber
Average Earning: $30/hr
YouTube is an excellent side hustle, especially with its 2.7 billion active users and a booming influencer marketing industry. In 2024, this market reached $24 billion which confirmed the potential for creators. YouTube’s 122 million daily viewers through its web and mobile apps offer ample opportunity for monetization.
Educational tutorials are a popular way to monetize your YouTube channel. From cooking to coding, creating informative content in one’s area of expertise can attract a huge audience.
10. Virtual Event Planning
Average Earning: $30.5/hr
In 2024, there is a rise of virtual gatherings and conferences and thus, there is a growing demand for professionals who can coordinate and execute online events seamlessly. Virtual event planners handle tasks such as scheduling, logistics, and technical setup to ensure a smooth and engaging experience for attendees.
9. Travel Planning
Average Earning: $33/hr
Travel planners assist clients with booking accommodations, transportation, activities, and excursions tailored to their preferences and budgets.
8. Consulting
Average Earning: $37/hr
Be it management, finance, marketing, or technology, there’s a need for consultants who can offer strategic guidance and solutions to businesses and organizations.
7. Podcasting
Average Earning: $37/hr
With several monetization options like sponsorships, advertising, and listener support, podcasting offers a scalable income potential. With an average earning potential of $37 per hour, podcasting provides a rewarding opportunity for individuals to share their voice.
6. Ebook Publishing
Average Earning: $39/hr
Ebook publishing is one of the most realistic side hustles because it offers low upfront costs and the potential for passive income. Platforms like Amazon Kindle Direct Publishing (KDP), Barnes & Noble Press, and Apple Books make it easy to self-publish and reach a global audience. Authors can retain creative control, set their own prices, and earn up to 70% royalties.
5. Become a Rental Host
Average Earning: $42/hr
Renting on Airbnb Inc (NASDAQ:ABNB) can be a high-paying side hustle. Take, for instance, a couple who earned $13,000 in passive income within just over a month by renting out their properties on Airbnb Inc (NASDAQ:ABNB). With minimal effort — only one hour of work per week — they managed to largely supplement their income.
4. Affiliate Marketing
Average Earning: $43/hr
Although it is one of the most basic side hustle ideas from home, affiliate marketing is a high-paying side hustle that thrives on social media platforms like Instagram, TikTok, and YouTube. By posting trending products, individuals can earn through affiliate links. Affiliates earn commissions, typically around 10% on a $100 product, potentially yielding $1000 from 100 sales.
3. Voiceover Work
Average Earning: $44/hr
Pursuing voiceover as a side hustle can be financially rewarding, as seen with Alice Everdeen’s experience. By offering her services on platforms like Fiverr, Alice earned approximately $200,000 in just over two years, with potential monthly earnings reaching up to $15,000.
2. SEO Consulting
Average Earning: $46/hr
As one of the best remote side hustles for college students, SEO consulting capitalizes on key skills such as analytical thinking, technical proficiency, and strategic problem-solving. With businesses increasingly relying on online visibility, SEO consultants are at the forefront of optimizing websites for search engines, driving traffic, and improving rankings.
1. App Developer
Average Earning: $50/hr
With the proliferation of smartphones and the increasing reliance on mobile apps for everyday tasks, the app development market is ripe with opportunities. Developers can generate handsome income through app sales, in-app purchases, and advertising. Even simple, well-designed apps can attract a large user base and generate passive income over time. Additionally, freelance projects and consulting for businesses looking to develop custom apps can be highly profitable.
The skills required to excel in app development are highly sought after and accessible. Knowledge of programming languages such as Java, Swift, and Kotlin, along with proficiency in app development frameworks, sets the foundation. Software engineering graduates are well-positioned to capitalize in this area with their skills, but even those with basic programming knowledge can create successful apps with the abundance of online resources and tutorials available. Given that the average earning of an app developer can be as high as $50/hr, it is the most profitable side hustle to make money in 2024.
At Insider Monkey, we delve into a variety of topics, ranging from side hustle ideas to business aspects; however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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