Tech Updates

5 Potential Side Hustle Avenues to Explore in 2023

Table of Contents hide 1 Consider letting out a room in your property 2 Sell products online through Amazon dropshipping 3 Monetize...

Written by Niel Patel · 2 min read >

Have you got some spare time on your hands? Or perhaps you have a savings goal that you’d like to reach? Either way, it might be an opportune moment to kick-start a side hustle to boost those coffers. The global cost-of-living crisis is also squeezing our wallets, so earning a second income could come in very handy for almost any family or working professionally right now.

If you have the time and the will to make more bucks, read on as we demonstrate five possible side hustle ideas to consider before the year is out.

Consider letting out a room in your property

One of the simplest opportunities to earn an additional income each month is by letting out a room in your home. If you’re prepared to welcome strangers into your property – or perhaps you have an annex that’s been empty for some time – it’s possible to utilize these unused spaces to your advantage. Airbnb is a great starting point for newcomers looking to let out a room or annex to visitors, which might offset any potential rises in mortgage costs on your property in the coming years.

Sell products online through Amazon dropshipping

What’s the saying? If you can’t beat them join them? That’s certainly the case when it comes to Amazon and the world of e-commerce. Amazon is literally teeming with people like you that have embarked on a side hustle as a drop shipper. Dropshipping is an opportunity for people to promote and sell products, without even having to have an inventory of stock on your premises. Amazon can handle the entire order fulfilment on your behalf. Just choose the industry or products you wish to market and away you go. It’s a business opportunity with one of the lowest overheads and the lowest upfront capital required.

Monetize your full-time skills as a freelancer

Do you enjoy what you do in your day job? Did you know, it might be possible to outsource your services as a self-employed freelancer on the side? Many people are turning to the freelance model to enjoy the flexibility of remote working and the ability to define their own working hours. You’ll find freelance positions for all kinds of industries these days, ranging from audio technicians and copywriters through to make-up artists and photographers.

Day trade the financial markets

If you have a fascination with the economy, commodities, and current affairs, you might also wish to consider trading the financial markets as a side hustle. There are state-of-the-art trading platforms open to retail traders that look to “day trade” the markets and generate small, frequent profits on anything from forex to futures markets. Most online brokers give retail traders ample opportunity to diversify their portfolios. As a client of INFINOX it’s possible to trade 300+ instruments, spanning major and minor forex pairs, indices like the Dow Jones, precious assets like gold and oil, as well as big tech stocks.

Become a virtual assistant for businesses worldwide

Are you highly organized and self-motivated? If you are a dab hand in the admin department, you could continue your clerical skills from home by becoming a virtual assistant. Virtual assistants work 100% remotely, giving start-ups and one-man-bands access to administrative support to carry out basic tasks that entrepreneurs simply don’t have the time or energy to dedicate to themselves.

Taking on an additional side hustle can not only earn you more money, but it can also be very enjoyable and enriching too. This quintet of side hustle options is just the tip of the iceberg, but hopefully, it can act as an inspiration to boost your household’s bottom line.

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