3 Ways To Make Extra Money From Home In 2024

Side hustles are a trillion-dollar industry. Over half of Americans currently have one, and it has been projected that this figure can be expected to multiply, with 83% of Americans having a side hustle by the year 2027, according t0 research.

On average, side hustlers who spend around 12 hours each week on their hustle can expect to make $1,122 monthly, grossing over $13,000 a year, which is certainly an enviable figure if you’re seeking to bump up your salary.

In a recent Wall Street Journal story which interviewed several professionals living in San Francisco, many acknowledged that having a decent standard of living was becoming truly difficult on their salaries alone, regardless of the fact that inflation has slowed in April. One marketing and comms professional told WSJ that she has multiple side hustles to boost her $4,500 monthly income after taxes, which enables her to have a safety net if she runs into financial difficulty.

The advantage of having a side hustle while working is that this practice affords you greater financial and emotional security and stability. When you have multiple streams of income, you won’t feel the need to panic as much about your employer making job cuts, at least from a financial standpoint, and you won’t feel as pressured to accept any job offer that comes your way, out of mere desperation.

You can be more in control of your career choices and will be able to have better options, and even develop new skills which you can use to help you explore other career opportunities over time.

If you’re looking for a safety net and exploring your options for making extra money from home, here are five side hustles that can help you accomplish just that:

1. Create An Online Course Or E-Book

If you are knowledgeable in a specific area, why not create and sell educational content? The multi-billion-dollar online learning industry is expansive, and if you focus on a niche, the chances are that there are thousands of eager learners waiting for your gems of wisdom so they can learn new skills and master new subjects.

You can market your online courses on places such as Udemy, or Teachable, or sell your e-book on Amazon using Kindle Direct Publishing (KDP).

Pros

• Scalable passive income
• Unlimited earning potential

Cons

• Extensive time investment to upskill
• Time and financial investment to learn things the hard way through research, marketing, and the pressure to deliver high-quality, up-to-date content

2. Get Paid To Test Apps Or Websites

Companies and start-ups are always on the hunt for the best product/market fit, and one of the ways they ensure an excellent UX (user experience) is by getting potential users to test them. Testers online have reported making between $10 and $100 for a test. One site which is helpful for user experience testing is UserTesting.com. You can also promote yourself on marketplaces such as Upwork.

Pros

• Decent pay
• Easy to start
• Low barrier to entry
• Can do it in your spare time
• No start-up costs

Cons

• You may not always be qualified for the test
• It may not align with your device’s operating system
• Test opportunities may come irregularly and the pay rates can be vastly different

3. Share Product Reviews Online

While we’re on the subject of testing, did you know that you can get paid to share product reviews for your favorite products online? People trust word-of-mouth more than glossy product pages. Share your genuine experiences with products—the good and the bad—via vlogs or blogs, and get paid through affiliate links, or through partnership and company ambassador opportunities.

Pros

• Free product samples
• Sponsorships
• Engagement with fans through building a loyal community of followers
• Freedom to choose which products resonate with you and your audience the most

Cons

• Initial set-up costs for vlogging (i.e. you need a high-quality camera and editing software)
• Slow growth
• Dealing with unreasonable expectations from advertising companies at times
• High competition from other influencers and bloggers

These are just a few of the ways you can make money online, from home. Each of these side hustles will require a different set of skills and level of commitment, so it’s essential that you select one (or more) that align with your interests and skills. Ultimately, the more passion and interest you have in a field, the more enthusiastic will be your research and dedication, and the greater your chances of making more money from it.