In an economy where the cost of living is steadily outpacing wage growth, side hustles are becoming an essential financial strategy for many Americans. Currently, nearly half of American workers engage in gig work, drawn by the promise of flexibility and additional income streams. A national survey by Jitjatjo highlights the main appeal of gig jobs: flexibility, with 63% of gig workers favoring the ability to set their own schedules over traditional office jobs.
Here are six high-paying side hustles that can help augment your income, as identified by Jason O’Brien, COO at TollFreeForwarding.com:
- Netflix Tagger ($35,000-85,000 per year): This role involves watching content on Netflix and tagging it by genre and other descriptors to improve searchability for users. Interest in this position is booming, with a predicted 5400% increase in searches in 2024.
- Transcribing Audios and Videos ($15-$22 per audio hour): As the demand for transcription services grows, so does the opportunity for earning. The simplicity of starting in this field makes it an accessible option for many, with platforms like TranscribeMe offering numerous job openings.
- Blogging About Your Passions: While no specific salary range is provided, blogging remains a viable way to generate income. By utilizing platforms like Blogger or WordPress and monetizing through Google AdSense, bloggers can earn money by writing about topics they are passionate about.
- Joining a Focus Group ($25 per hour): Participating in focus groups is an easy way to earn extra cash. Platforms like Respondent and Sago help connect individuals with researchers seeking opinions on various subjects.
- Freelancing on Fiverr: Freelancing continues to be a popular method for earning additional income. Fiverr, a leading digital marketplace, allows freelancers to offer services like voiceover work, illustrations, video editing, and coding. Freelancers can set their own prices, adjusting them as they gain more experience.
- Time Stamping as You Scroll ($2,000 to upwards of $5,000 per month): This gig involves watching YouTube videos, identifying and extracting one-to-two-minute clips for TikTok. This role suits those who frequently engage with video content and are savvy with social media trends.
Each of these side hustles not only offers a way to earn extra money but also provides flexibility, allowing individuals to work around their existing schedules. As the gig economy continues to expand, these opportunities are likely to become even more prevalent and lucrative.