Best Side Hustle Ideas For 2024

“A side hustle is a way of generating income that someone pursues in addition to their full-time employment or main source of income,” says Michael Nuciforo, CEO at financial management platform, Thriday.

“Most side hustles are undertaken on a part-time basis which is usually after hours or on weekends.”

Side hustles can include freelance work, selling goods or services online, tutoring, dog walking or sub-leasing a room. They are different from taking on a second job in that the person with a side hustle is usually self-employed.

Many people launched side hustles during the pandemic when existing sources of income dried up and they had extra time on their hands during lockdowns.

While the goal is typically to make some extra money, side hustles can turn into a full-time business opportunity. For many, they are an enjoyable way of creating a new professional network and pursuing latent talents.

How To Find The Perfect Side Hustle For You

A side hustle typically requires initiative to turn a profit, so finding the right side hustle will be key to success. For most people, a side hustle takes up their only spare time outside of work or eats into time with family and friends—so ideally, it ought to be an activity that appeals.

Think about your strengths and look for ways to leverage them. If you love cooking, for example, consider selling your home-made creations.

Related: How to Make Money from Home In Australia

1. Freelancing/consulting outside your day job. It takes less than an hour to join freelancing sites like Upwork and Fiverr and create a profile for prospective business leads. You can work at times you wish and set your own rates based on the brief provided by the person outsourcing the work. With each recommendation you acquire from a satisfied customer, your ability to tap new business grows.
2. Pet minding. If you love animals, pet minding can be a fun way to make some extra cash. Pet owners who go on holidays may request one or two visits a day of around 30 minutes each to feed and care for their pets. Dog walking has the added benefit of getting some exercise and fresh air at the same time as you are earning money and contributing to a pet’s wellbeing. Alternatively, you can take in dogs or cats in your own home when their owners travel. Some dog-sitters charge $100 a night for this service. Popular sites include Mad Paws and Pawshake.
3. Offering up your spare space. With the national housing shortage getting worse and international students returning after a hiatus caused by the pandemic, many people are in need of a spare room, which is where sites such as Airbnb come in handy. Or, if you have a spare garage, you could rent the space for someone to park their car or store their belongings. Try listing on Spacer, Parkable AU, or Parkhound. Parkhound claims you can make up to $450 per month for an indoor or lock-up garage.
4. Sell your art online. The emergence of digital platforms make it easier than ever to sell original artwork in a way that minimises any risk of fraud or non-payment. Bluethumb connects more than 20,000 Australian artists to buyers—it is the largest of its kind in Australia. Other popular buy-and-sell platforms for a range of goods include Shopify, Etsy and eBay.
5. Teach English Online: Obtaining a Teaching English as a Foreign Language (TEFL) Certificate will provide you with an internationally recognised entry-level credential for teaching English as a Foreign Language (EFL) in schools and communities. Not all online teaching companies require a degree or TEFL certificate, however the largest and most reputable ones do. In order to maximise your chances of finding work, it may be a worthwhile upfront investment of time. It is then possible to travel and teach in-person around the world, should you wish to do so.
6. Become a virtual assistant. The rise of the gig economy has led to an increased demand for virtual assistants, as they can carry out office administrative tasks in an economical way, rather than taking on a full-time or part-time admin assistant. Depending on your past experience, some training may be needed. If you have bookkeeping skills, you may find your services even more in demand and your hourly rate can be higher.
7. Join a ride sharing app or deliver food: If you have your own car, you can join a ride sharing service like Uber or DiDi Rider or Shebah (for female drivers and passengers only). Some people join multiple platforms to ensure they are as busy as possible while working a shift at a time that suits them. There are also a number of food delivery services, such as Milk Run, Door Dash and Uber Eats. Transport options include bicycles as well as motorbikes and cars.
8. Take marketing surveys: Brands and government departments regularly carry out market research to determine whether a product or service will be popular before rolling it out to the general public. They generally use marketing survey companies to handle the research—you can find these companies online and sign up with them for email alerts. To be eligible for a survey, you will need to meet certain criteria, such as your age or consuming a certain type of product.
9. Start a YouTube channel: YouTube is free to use, and you can monetise YouTube videos once you’ve reached at least 1,000 subscribers and average over 4,000 video watch hours per year. Many dedicated side hustlers have turned their YouTube channel into a profitable full-time gig—whether it be tutorials in make-up application, fitness or work-out videos, or your own cooking channel. We only have to look at the pandemic success story of home cook, ‘Nat’, whose YouTube cooking channel, Nat’s What I Reckon, has more than 400,000 followers and resulted in a three-book cookbook deal.
10. Create your own podcast: Podcasting: is another popular low-cost side hustle idea that’s easy to launch and build. There will be some initial set-up costs, including microphones and other tech, and you may wish to employ a podcast producer to help you edit the recording. Podcasts can be monetised through ads, sponsored content, affiliate links in the podcast descriptions and paid subscriptions. But be aware that podcasts are a saturated market, and you may need to have a niche expertise or some kind of celebrity pulling power to make it profitable.
11. Ecommerce re-selling: Turn yourself into the middleman and re-sell items that you have picked up cheaply for a profit. Many successful side hustles centre on the classic e-commerce equation, where you buy, stock and sell a collection of items from multiple sellers yourself. There is some initial investment or time and money—especially when you are building up your inventory.
12. Self-publishing ebooks: If you are an expert in a field, and there is a demand for what you have to teach, then an e-book could pay dividends. If you can write the book yourself then all the better, but you can also hire a professional ghost writer to put in the leg work for you or an editor to add some spit and polish.. Once you’re done you simply publish to Amazon’s Kindle Direct Publishing and other ebook platforms such as Lulu, and wait for the royalties to roll in.
13. Mow lawns or do gardening work: Many individuals advertise on sites such as Airtasker looking for individuals to help tend to their gardens or mow their lawn, especially the elderly who may not be capable of completing such tasks themselves. Advertise online or in your local neighbourhood to offer your services for some extra cash.
14. Referee sports: If you have a keen interest in sports, you may be able to find yourself a side hustle referring local, social competitions. It’s often seasonal work depending on the sport, and is a helpful side hustle for those with a full-time job as games are usually played on weekends or in the evenings during the week.

The most profitable side hustles are likely to be those that leverage a person’s skills and passion. Enthusiasm will go a long way in turning a profit, says Nuciforo.

“The best place to start is by thinking about what you excel in. If you were a great football player in your youth, could you train young kids after hours? If you love cooking food on the weekend, perhaps a food truck is a good fit.”

Once you have narrowed down the list, consider the potential demand for such products and services in your area, and if there is a gap in the market.

How Much Money Can You Make From A Side Hustle?

It is not out of the question to earn an extra $20,000 to $30,000 in additional income per year, says Nuciforo.

More flexible work practices and digital and automated tools (such as email marketing) have helped spur the growth of the gig economy.

The biggest downside to having a side hustle is the time it will involve—and in the beginning, the financial payback may be negligible. Be aware of burnout and try to make sure you are still carving out time to spend with friends and family, relax and unwind, and focus on hobbies you enjoy that don’t involve financial gain.

The two biggest advantages are the personal satisfaction that a side hustle can bring and the extra income it produces. It may help you achieve your financial goals, such as saving for a house deposit or overseas holiday.

Be aware that having a second job or a side hustle can significantly increase your income, which may impact the tax bracket that applies.

“If you are working and operating a side hustle or multiple businesses simultaneously, it’s important to understand the tax implications of having different income streams,” says Nuciforo.

Many people mistakenly assume that having multiple income streams creates different tax implications, rather than the total amount of income earned.

“Regardless of how many jobs, businesses, or side hustles you have, the taxes you owe are calculated based on your total income and any applicable deductions, which are reported on your annual tax return,” explains Nuciforo.

Each income source is usually tracked separately on your BAS or tax return, but it does not increase your overall tax liability. The tax rate for a second job is the same as for your primary job, but additional tax may be due if your combined income from both jobs pushes you into a higher tax bracket.

Seek advice from an accountant and visit the ATO website for information about starting your own business. Always declare the extra income, or risk being pursued by the tax department.

“Generally, when you provide your labour, skills or goods for a fee, you need to report this income in your tax return,” states the ATO. “This applies regardless of whether you’re using a digital platform or more traditional means, such as word of mouth.”

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