Let’s talk some money. Because we like that, right? Becoming financially independent is our aspiration. In addition to spending less than comes in, investing heavily, the so-called “side hustles” are also an important part of your finances. Side hustles for additional revenue, rather. Because the more you earn per month, the more you can invest, the more wealth you accumulate. In addition, side hustles also provide a piece of financial peace: not depending on 1 source of income, but having multiple pots that bring in some money each month. Anyway, sounds like music to my ears, but a little side hustle inspiration can’t hurt. Coming up: side hustles for additional revenue.
Looking for inspiration? Read here 11 side hustle tips to make easy money from home!
Side hustle for additional revenue
So a side hustle is a great way to ensure some extra cash. In addition to your primary source of income – which for many ladies is often income from work – throw up some extra balls to earn an extra few hundred euros a month. Some side hustles will be more lucrative than the others, but all the extra pennies are nice. And you know what the cool thing about side hustles is? You can use your hobby or talent for this purpose. Doing something you enjoy, and making money at it. That’s the way we want it, am I right ladies!
How much extra revenue can you generate with a side hustle?
This depends very much on the kind of side hustle you choose. A good affiliate website can certainly earn you €1000 to €5000 per month, while filling out online surveys, on the other hand, is more likely to be about tens of dollars. Setting up a side hustle takes a lot of work and requires patience. Some side hustles you can start today, while others need a longer lead time.
Side hustle ideas
Chances are you are now thinking: I want this too! But there is also a chance that you are thinking: pffff but where do I start? And we get that, because life is busy enough, how are you going to start a side hustle, but most importantly, what do you need to start a side hustle for? Here some ideas.
Blog
You can start a blog. There will undoubtedly be a topic that really appeals to you (cooking, travel, child rearing, fashion) that you can really enjoy talking about and thereby inspire other people. The simplest earning model of a blog is affiliate. The downside of a blog is that, especially in the beginning, it can be time-consuming. Setting up a website, writing the first articles, signing up with affiliate partners.
Digital product
If you have very specific knowledge with which you can inspire or inform other people, then setting up a digital product can be lucrative. Think of an e-book, an Instagram course, webinars or mentoring small groups of people digitally. For example, can you sing very well, or paint, do you know everything about taxes, can you help people with motivation to exercise, do you know everything about a certain historical subject: you’ve got the skill, other people like this. The advantage of a digital product is that it’s hugely scalable, and: once it’s up and running, you’re good to go and you can rely on it for quite a long time. The downside: before it is all set up, it is quite intensive to set it up. Creating the content, finding the target audience.
A webshop
You can also start a webshop with products that make you very happy. Do you have a nose for good vintage finds? Sell them through your own website. Missing a good place to buy the top 5 most special wines from Italian regions? The disadvantage of having your own webshop is that this also takes a considerable time investment in the beginning and you have to puzzle out how to do this with inventory. But we also occasionally come across sellers of certain products (second-hand clothes, for example) on Instagram. So you can also sell products without setting up a website to do so.
Airbnb
Yes, this is also an option, of course! Do you have an extra room to spare in your home? You can rent it out through Airbnb and make some extra money. Benefits? easily and quickly. Cons: ‘strange people in your house’. But of course, the latter can be tremendous fun again if you have nice guests!
Become a teacher
Well, why not? Are you skilled in yoga? Maybe you could start teaching classes yourself. Are you tremendously good at math? Help those poor adolescents! Do your cooking skills make Jonnie Boer pale? Join cooking groups.
Walking dogs.
Yes, seriously, this is possible! Do you have a few hours to spare each week? Why not walk other people’s dogs. For example, check out Petbnb, dogwalking.com and Dogbuddy.
So many possibilities
There are plenty of other possibilities, of course. Maybe you already have a side hustle or have already gotten an idea. Some side hustles make more money than others. This is partly because some side hustles (your own digital product or a blog) are much more scalable than, say, dog walking. You can only walk a maximum number of dogs at a time in a certain time frame. But for example, once you create that approachable Instagram course or write that e-book: it won’t matter if 5 or 500 people want to learn from you.
And our tax friends?
What you do need to pay close attention to if you are going to generate extra income in addition to your primary source of income is what our friends at the IRS think about it. If you are going to have additional income in addition to your main income, the IRS may see you as an entrepreneur. Whether that’s really the case, read here. For example, if your income with your side hustle stays under €20,000 a year, it might be an idea to apply for a KOR scheme. What that is you read here.
Side hustle, to do or not to do?
It takes some time investment, like maybe registering at the Chamber of Commerce (but you’ll be out of there in 10 minutes), doing preliminary research (what side hustle suits me? And in what form do I want to cast it?) and setting up your side hustle. But this does not have to happen all in 1 day. Take your time with this, commit yourself, bite yourself for a while and then you can reap the benefits of additional income. Earn from a subject that makes you very happy. And those additional revenues? You can do whatever you want with that, but we would say build wealth!
