Bored? Poor? How about a side hustle!

From rideshare services to selling your crafts on Etsy or your old junk on Facebook Marketplace, the universe has opened up a million possibilities for earning a second income.

Most people I know start their business as a side hustle because its difficult to be able to give up a regular income to start your own business. Others are only interested in a little money on the side, a second or passive income stream.

You might also be saving for something big like a car or a house deposit and need some big cash.

So how do you go about that?

One simple way is selling stuff you don’t want. When you declutter you have a heap of stuff that is worth nothing to you anymore (except maybe the interest on the credit card you used to buy it), so get it together, take a load of photos and make sure you get the measurements or sizing right. Put aside a weekend and get it really organized. Think about when you buy things online. What do you need to see or know? Then use sites like eBay or Facebook market place to turn your trash into cash.

This only becomes a business when it is something you do on purpose and regularly.

For a more long term goal you might be thinking of a regular income boost, or trying something you have always wanted to do.

First work out what skills you have that can be a real service to someone else. My friend Meagan is an amazing cook and has recently started doing meal prep for people in her local area.

This side hustle is making her just over $1000 a month and she is growing her business on word of mouth.

The most important thing to consider is a second income still takes up your time and potentially money when you start. Consider if its worth it. Make sure you know the difference between side hustle and hobby because if you are not getting paid then its just a hobby. Most importantly look out for free loaders – Megan’s first client ordered a heap of food, claimed to have transferred the funds right in front of her and took off with the food – no money hit her account and she lost about $200 plus her time.

Its your business so get paid!

 

Contact Phoebe

Phoebe is available for interviews, guest appearances, article commentary, and talks on a range of topics relating to property, mortgage broking, and personal finance (particularly for women!).