Getting started with a side hustle can be an awesome way to supplement your income. A side hustle can be a great way to help you pay off your debt, save for that house deposit or help you purchase more investments. The problem is that finding a side hustle that is actually worth your time can be challenging. The internet is full of all kind of side hustles – many that are all but a waste of time and many that are simply impractical for the average person. Here is a list of my favourite side hustles to help you put more money in your pocket. All side hustles in this list are more than capable of bringing in $10,000 a year!
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Best Side Hustles
1. Matched Betting
Matched betting is my favourite side hustle and in my opinion offers the best reward for your time. Even better it can be done from the comfort of your own couch at home. Now, before you keep scrolling – matched betting is not in any shape or form the same as gambling. Matched betting is a risk free way of exploiting bonus offers from bookmakers and converting them into cold hard cash. Sounds too good to be true, it must be illegal. Wrong. Matched betting is 100% legal and relatively simple to pick up once you do a little bit of reading and educate yourself on the terminology and how it works.
I will attempt to briefly explain how it works. So, imagine this. You have just signed up and created a betting account with a bookmaker. Often, the bookmaker will entice you to deposit your money into an account by offering you a deposit match. This means if you deposit $100 the bookmaker will give you $100 in bonus bets. Therefore, you now have $100 of your cash in the account as well as $100 in bonus bets. If you then found a sporting match where Team A was paying $1.6 and Team B was $2.2 you could put $100 on team A and the $100 bonus bet on Team B. If Team a wins you would end up with $160 and if Team B wins you would end up with $120 (you do not get the bonus bet amount back but only the winnings).
The key takeaway is that in all circumstances you make a profit. And unlike gambling there is no risk of losing your money as it is mathematically impossible. Many Australian’s make upwards of $20,000 doing this and some even make upwards of $30,000. My explanation of matched betting is extremely brief and is only designed to give a brief insight into how it works. Bonusbank is a site with extensive beginner friendly and advanced tutorials that can both explain and guide you through the matched betting process and get you on your way with your matched betting journey.
If you’d like to learn more, feel free to check out our step by step matched betting tutorial.
2. Creating a Blog
Creating a blog is a side hustle can exponentially reward the time and effort put in. It is also something that can be done from the comfort of your own home. I wont sugar coat it for you guys, creating a blog isn’t as simple as purchasing a domain name, writing a few blog posts and sitting back and watching the money roll in. It takes effort, time and a great deal of persistence, BUT, it can pay off immensely.
Once you get past the initial phase of driving traffic to your blog you can begin to make extremely passive income through advertisement banners which are displayed on your posts & affiliate commissions. Further to this once your blog really gains traction you could consider creating a product or course and promoting it to your already built audience.
The hard bit about creating a blog that earns money is simply, put getting traffic to your website. But unlike something that is as easy as matched betting, the money you can make from a successful blog is infinite. To put it in perspective, according to Target Internet, Huffington Post earns $500 million a year, Copy Blogger earns $33 million a year & Tech Crunch earns $22.5 million a year. Clearly, creating a blog like these three is unrealistic for most but for many earning a fraction of the above could replace a primary income let alone serve as a side hustle. To get started I recommend purchasing a domain name which you can purchase from Bluehost.
3. Delivery Driving
Not interested in the time intensiveness of creating a blog? Delivery driving can be a quick and simple way to earn some extra cash. Companies like, Uber Eats, Deliveroo and Door Dash all have delivery driver programs that are usually as simple as signing up, completing a background check and completing a few small training modules. You can work as many or as little hours as you want, and at a time that best suits you! The flexibility of delivery driving perfectly suits those who already have busy schedules.
The one caveat with delivery driving is that most organisations require you to hold a full drivers license, which in Australia means you must be a minimum of 21 years of age. However, those who do meet the requirements can earn between approximately $12-$22 an hour. To put this into perspective, if you were to complete 5 hours of driving per week for a year, you would net yourself approximately between $3,120 – $5,720. For the average person looking to supplement their primary income, delivery driving can be a quick and easy way of doing just that!
4. Get a Part Time Job
Getting a part time job is a great way to earn some extra cash on the side! The best bit about a part time job is that you can choose from a whole range of jobs and pick one that best suits your schedule, needs and capabilities. Examples of common part time jobs include babysitting, working at a bar or cafe or mowing lawns. A key advantage of getting a part time job as a side hustle is that as opposed to some of the other side hustles is that you don’t have to invest any of your own money to get started, and you will start making profit from day one.
Despite most part time jobs not paying overly much, they can be a fantastic way to supplement an income. Whether it’s a few hours on the weekend at a cafe or a couple of hours on a Friday night babysitting. In Australia, you can browse Seek to look for part time jobs. It is as easy as entering your location and viewing potential jobs.
Getting a part time job is probably the most common way to increase income. This is most likely because it is the easiest. However, trading your time for money may not always be the best option. This is because you only have so much time that you can trade for money so you are essentially restricted by the spare time you have. For those who are looking for a long term side hustle. Creating a blog or matched betting could be perfect for you as you can earn greater longterm, passive income despite the initial hard work. Likewise, if you are wanting a short term side hustle to save for a holiday or a house deposit, picking up some kind of part time job could be the perfect option for you!