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It’s no doubt that inflation coupled with the economic downturn is eating deep into our pockets daily.
If your wages aren’t keeping pace with inflation and you want some extra cash (perhaps to build your retirement or to just have extra cash to spend or invest), then you’ve probably considered a side hustle.
But if you’re overwhelmed by all of your options, which might include creating online courses, becoming an influencer, tutoring over Zoom, driving for Uber and just about anything else, it’s time to think about where you’ll see the largest financial gain for your skills and time – and what has the potential to increase and supplement your regular earnings altogether.
I have compiled a list of the highest-earning side hustles that can help you pad your bank account quickly – and maybe even replace your current income.
Here are the 4 side hustles I recommend, plus their estimations for potential income:
- Online instruction
Do you have a talent or skill you want to share with the world? Consider building your side hustle on virtual instruction sites like Coursera or Khan Academy. IT and computer courses can be especially lucrative. And you can earn and average between : £21–42 per hour
2. Airbnb
If you have an extra room or vacation property, you could rent it out for an additional income stream. Even though llowing strangers into your home “may seem daunting,” but Airbnb’s host damage protection and liability insurance should keep side-hustlers covered.
Average earnings: £1000 per month
3. Online reselling
From fashion-focused resale sites like Poshmark and Depop to catch-all sites like eBay and Facebook Marketplace, there’s a digital audience for just about any side-hustler looking to offload items for extra cash. It remains one of the most popular side hustles, particularly among those aged 18–35
Average earnings: £50- £1500 per month
Picking up an extra gig can help you pay the bills, save for retirement and more. There’s no shortage of options – so consider what will bring you the most financial gain.