Earning Income On The Side

Even after a long economic expansion, America is still the land of the side hustle. New evidence suggests that nontraditional work arrangements with multiple income sources are more common — involving around a quarter of workers — and more complex than commonly thought.

In recent years, an increasing number of U.S. tax filers said they earned self-employment income -- a trend that’s continuing to skyrocket in 2020.

Key side hustle stats:

  • 28% of Americans are actively pursuing side hustles; 63% have had at least one in their career.

  • People who work 12+ extra hours a week earn $1,122+/month.

  • 43% of households earning $80K+/year have a side gig compared to 37% of households with incomes <$30K. People who earn less work more for less income.

  • Freelancers are preparing for their future: 55% of U.S. freelancers re-skilled or up-leveled their skills within the past six months. They relied on apps & online and peer education as sources.

Thinking about starting your own side business? Here are a few tips:

Start small

Look, we respect the hustle -- but you don’t need to quit your job and cash out your 401(k) to get going. Do your research, ask for tons of feedback, and take a few online courses to brush up your skills. We love everything about Black Bear Bread Company , and we also love the fact that they started baking in the back room of a friend's store.

Find your niche

No, not just the niche for your brilliant idea. Your niche. What are you passionate about? As simple as it sounds: The best side hustles are usually great business ideas merged with your interests.

Take classes or cross-mentor while you’re hustling to get even better at what you do

I love that we live in a time when online education is accessible to most. From taking free or affordable online courses at accredited institutions to finding courses online, you can make even more money from your side hustle when you learn more about your craft. Check out online courses on Google (free), Udemy, Harvard & MIT (free), or google your specialty for online courses on the cheap. This list of free classes is also pretty incredible. So is this list.

If you're ready to make money on your own terms, ask us for our guide to starting a side hustle.