The pressure of significant debt can often feel overwhelming, but when you take the time to break down any personal financial situation there are only ever going to be two solutions: make more money or spend less money.
Since no one ever really wants to commit to spending less money, the best path towards a debt-free lifestyle is almost always going to involve earning more money. If that is an accurate description of the situation you find yourself in, then taking on a side hustle is often the best recipe for getting out of debt and embracing the life you want for your family.
Because taking on a side hustle has become increasingly popular in today’s personal finance community, there is now a plethora of great ideas that can add a significant amount of extra cash to your bottom line. Let’s jump right in and take a quick look at six options that might be your ticket to the debt-free lifestyle you’ve been fantasizing about.
Garage Sale Flipping
One of the most heavily promoted side hustles you can jump right into at any time is spending your weekends hitting up local garage sales looking for hidden treasures. And while there are plenty of stories of finding valuables inside cheap garage sale pickups, you can usually do even better looking for items that will resell for higher prices online.
If garage sale flipping is something that sounds appealing to you, there is a wealth of information available on YouTube to help you understand exactly what to be looking for. There are also dozens of great smartphone apps to help you make smart decisions out in the field.
Bartending / Waiting Tables
While it might not be the most prestigious way to spend your free time, picking up a side job bartending or waiting tables is often the easiest way to start making some significant side hustle income in a hurry.
In case you haven’t noticed, just about every bar and restaurant across the country is always hiring. If you are careful to identify the opportunities where you can make the most tips as soon as possible, the upside here will only be limited by the amount of hustle you put into the gig.
Driving Uber or Door Dash
If working in the foodservice industry isn’t for you, you can always fall back on getting paid to drive through one of the many ride-sharing or food delivery apps like Uber or Door Dash.
The only requirement to earn extra cash here is that you have a decent vehicle and plenty of free time. If that is the case, you could start out making somewhere in the $25/hour range immediately.
Freelancing (Writing, Photography, Social Media)
If you are willing to play the long game, there is plenty of money to be made by using whatever natural talent you might have and using it to start a freelancing side hustle.
The online connection economy has enabled just about anyone with a talent for anything to monetize that talent through freelancing sites like Upwork and Fiverr. You will be surprised by what people are willing to pay for services that come naturally to you.
Start a Service-Based Side Business
Another long-term option that can create a side income for you is to start your own service-based side business. This could cover anything from dog walking or dog sitting to doing hair, nails, or makeup.
Once again, you will be shocked to find out what people with more money than time are willing to pay for services that you enjoy performing.
Real Estate Investing
Everyone knows that investing in real estate is a popular path to creating wealth, but most people who are struggling with debt don’t realize how easy it can be to get started in the real estate world.
There are many more real estate investors out there than you realize, and many of them would be more than happy to pay a finder’s fee for a great deal. So, if you are willing to put in the leg work, you can actually make some quick cash in real estate way before you are ever able to make an investment on your own.
Whether we are talking about flipping someone else’s junk, serving up a few cocktails, starting your own side business, or just finding a few great real estate deals, the amount of side hustle income you can generate is only limited by the amount of work and imagination you are willing to put into the process. So what excuse is holding you back from getting started?