Nowadays, millennials have become obsessed with side hustles. More and more people are spending their evenings and weekends working a second job or building entrepreneurial ventures to boost their income. Large student loan repayments and limited high paying job opportunities are causing many millennials to opt for side hustles to make ends meet.
In this post, you will be introduced to three online side hustles that anyone can start today.
If you want a side hustle that starts earning you money immediately then freelancing is your best option. Popular freelancing fields include content writing, transcribing, translating, voice-overs and proofreading. But whatever skills you possess, you will most likely be able to offer them as a service on a freelance basis. The best place to start out, if you are new to freelancing, are freelancing platforms such as UpWork or Freelancer.com. There you can set up a profile and apply for freelancing jobs or be found by employers looking to hire in your field of expertise.
As a freelancer, you can set your own hourly rates. That allows you to decide exactly how much you want to earn. Of course, it has to be within reason and close to the prevailing market rate for the service you offer.
Freelancing is an excellent side hustle that allows you to manage your own time and engage in work you actually enjoy doing. Furthermore, it is the kind of side hustle that anyone can get started with at any time.
2. Financial Trading
Another popular side hustle that anyone can start is online financial trading. Yes, you need to be savvy with numbers and you have to have a basic understanding of economics. However, that is much easier to learn that one might think. Especially given the vast amount of free resources about financial investing on eLearning platforms such as Khan Academy or Udemy. Also, most online brokerages will offer tutorials and beginner's guides to help you become a knowledgeable and profitable trader. While trading financial securities does incur a certain degree of risk, it is an excellent way to add a little extra to your bank account each month provided you manage your risk and follow a proven trading strategy.
When you are first starting out to trade, it is advisable to start with a demo account that lets you play around with fictions money. That way you can learn how the trading platform functions and how the financial markets react to news headlines and economic data announcements. Once, you feel comfortable you can switch to a live account and start earning money.
"We are seeing an increase in amateur traders logging onto our trading platform after finishing their day job, to trade commodities and currencies after hours. It gives us great satisfaction knowing that by simplifying the trading process, we managed to help people generate extra income without having years of experience in the markets." states Stern Options Executive Anthony Di Maggio.
3. Remote English Teaching
Teaching English remotely is another excellent way to generate extra income. By leveraging technology, you can teach English online to anyone in the world from the comfort of your own home. Especially in Asia, there is currently a high demand for English teachers and you don't have to live there to do the job.
To help you get started, you can use online teaching platforms, such as Skype Tuition, that match you up with students. You create a profile on the platform, decide on your rate and then you can reach out to potential students while eager English learners can reach out to you.
Teaching English online is a very easy way to earn extra income. All you need is a laptop, a strong Internet connection, a headset and a microphone to communicate with your students via Skype or Google Hangouts. But of course, a passion for teaching would also help.