How to side hustle your way out of Inflation

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With inflation running rampant, more people are looking for additional sources of income, and have embraced side hustles out of necessity. When the cost of living becomes more expensive, many people need that extra side hustle income to make ends meet or to provide themselves with a little bit of financial wiggle room.

The onset of the pandemic has emboldened a lot of people to try a side hustle, and that has continued to grow. Thankfully, the rise of the digital era has made it a little simpler for those with enough spare time and energy to make money from a variety of creative ways, often from the comfort of their own homes.

Research has shown that Gen Z-ers (ages 18 to 25), millennials (ages 26 to 41), and parents with children younger than 18 are some of the most likely to have a side gig. From tutoring online to offering specific services like designing websites, translating, or making and selling your own goods, there are many online platforms where you can do almost anything.

If you’re looking to find ways to help bridge the gap between your income and expenses, some of these side hustles could be just the thing for you:

Sell or flip used products

Chances are, there are a ton of things you own that you aren’t using, that are gathering dust in your home somewhere. A number of resale platforms allow you to sell used clothing and various things online, so you can make some money from things you no longer need or want.

This isn’t restricted to items you already own either. You can always source items for cheap and flip them online for a higher profit. Whether you are selling books, clothing, or even used toys, there is always a market for selling secondhand goods, especially at a time when people are conscious about spending.

Starting your own eCommerce business

For those who’ve ever wanted or dreamed of starting your own eCommerce business, there could not be a better time to do so. Since the pandemic, many businesses are thriving by selling their services or products online. Starting your own eCommerce business is the perfect side hustle, as you can work on your own time, still keep your regular job, and start out small.

To top it off, eCommerce platforms like Lazada makes it simple and straightforward to start an online business, equipping their sellers with user-friendly tools and leading them all the way to success with support from websites like Lazada University.

Blogging, podcasting or producing content

Blogging or producing online content is one of the best side hustle jobs, and is also incredibly easy to get into. Profitable bloggers use a variety of means to create income. From affiliate marketing and advertising to paid partnerships and products, there is ample opportunity to make this a lucrative side hustle. The key is to build a solid, personal brand that your audience connects with and trusts.

Blogging is also easy to balance with a full-time workload because you can create content in advance and schedule it to go-live at your desired time. It has the potential to earn you a few hundred or thousand dollars a month, depending on the work you put into it.

Use your tech skills

If you have a knack for design and more than the normal amount of technical knowledge, use your skills to design websites or emails for small business, or troubleshoot or code for individuals who need help. You can work with clients one at a time if you have limited hours, or you can take on multiple projects. It’s a good gig and you can decide your own time. As long as you deliver good work on time, there’s often the opportunity for more work.

Tutoring or teaching

If you’re knowledgeable about a particular subject, offering to tutor can be a great option to bring in money. Tutoring can pay via session or per hour, and you can easily bring in a few hundred dollars a month, depending on how much time you’re able to spend doing this. Teaching your own online courses allows you to focus on topics that you love and are an expert in. The great thing about private tutoring or teaching is you can work on a local or international level through various online platforms and continue to promote it to future customers for as long as you’re willing to put in the effort.

Industry consulting

If you have a particular set of skills in, offering your services as a consultant might be a good potential side hustle option. You need to actually have knowledge and experience to sell to your clients, of course. But if you’re really interested, you can learn. Industry consultants have varied backgrounds and specialties. Some work as generalists to help clients create strategies and plan to grow their businesses. Others work in specialized areas like email marketing, social media, or content creation and only perform services in those areas.

Start dropshipping

If you dream of running their own online retail business but want to keep it simple, dropshipping is the answer you’re looking for. You can run an online store and sell a product directly to the customer, without having to keep a physical inventory or deal with pesky little tasks like shipping. You can open a dropshipping store with little-to-no experience. Once you have a platform such as Lazada to sell on, you’ll just have to track down suppliers of products you want to sell, set up your shop, and focus on marketing strategies and customer service.

Side hustles not only pads your income, but can sometimes also create career-changing opportunities you wouldn’t have normally stumbled on working at your fulltime job. Depending on the amount of time you put in, it may not always lead to huge profitability, but it can definitely lead to more money, which is a powerful incentive in a volatile economy.

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