- 4 Mar, 2019

How to make money from your side hustle

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Feeling uninspired by your 9-5 or looking to earn some extra cash on the side? The side hustle might be your answer. For those who are new to the concept, the side hustle is a means of making money alongside your main form of employment.

The trend is growing rapidly – according to the 2019 Pinterest trend report, searches related to side hustles increased by 690%.

Side hustles can be a creative outlet or a way to pursue your passions if you don’t get to do so in your main gig. Either way, you’ll be making some extra cash on the side.

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Find your hustle

Figuring out which side hustle to choose might seem daunting, but the answer is usually glaringly obvious.

The first rule of the side hustle is choosing something you enjoy – if you’re going to be grinding away in your spare time, you should be having fun too!

Do you love to knit, sew or build in your downtime? Turn that hobby into your side hustle. Do you have a teachable boast-worthy skill – are you bilingual or can you write a killer essay? Both of these skills could be translated into a side hustle.

The second rule of the side hustle is flexibility – choose something you can do anywhere, in your own time and on your own terms. If it’s an existing hobby, you most likely already have an assigned area in your home and almost everything else can be facilitated online.

Start hustling

Once you’ve found your niche, the next step is figuring out where and how you can advertise your skills and run your new business. Luckily for you, there are countless platforms that make side hustling as easy as A-B-C.

For the crafty, Etsy is the ultimate platform. The site is very affordable, allowing you to set up your ‘shop’, communicate with customers and accept payments, with a tiny out of pocket expense of 28c per listing.

You also can’t go past Facebook, Gumtree and eBay if you’re buying and reselling goods such as clothing and furniture. eBay is relatively cheap and Facebook and Gumtree are free.

If you’re offering a service like resume building, graphic design or freelance writing, sites like Fiverr are a great place to start. You’re able to set up a profile and advertise almost any creative, tech or writing service and set your own price.

If you’re not too keen on the cut Fiverr and similar sites take from your profits, using Facebook as a business page is a free alternative. Just be prepared to dedicate a little more time to networking.

Make time for your hustle

To create a successful side hustle you need to allocate time to the service itself, as well as the marketing and financial side of things, so you should be realistic in regards to time management.

If you work from 9am to 5pm every day, it’s not realistic to dedicate three hours a night to your side hustle. Why not start with a productive hour instead? If you’re too tired in the evenings, set your alarm an hour earlier, or utilise those wasted hours commuting on the train or bus.

Find the time then commit to a non-negotiable schedule.

Is it time to make your side hustle your main gig?

Is your work getting noticed? Are you in such high demand that you’re turning down jobs? Have you accrued a financial safety net? Are you business-savvy? If the answer is yes to all of these questions, it may be time to turn your side hustle into your main hustle.

Words by Nell Matzen.

If you’re looking for a side hustle to help you save for a home loan deposit, it’s worth discussing your borrowing power and potential mortgage repayment with an eChoice Home Loan Consultant. We have access to hundreds of products across a panel of multiple lenders, so once you’re ready to buy we can help you find a competitive mortgage.

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