One of the best ways to start a side hustle is to build upon the career skills that you already have. If you already have a day job with tech, sales and marketing, business management, or creative professional skills that are in-demand, you could start a side hustle that pays $30 per hour or more.
Turning your nights and weekends into extra cash can be exciting, inspiring, and empowering. Just make sure you don’t run afoul of any rules from your day job about “no moonlighting” or non-compete agreements. But if you’re all clear to earn extra cash on the side, turning your free time into money can be a big boost to your financial security.
Let’s look at a few ways career professionals can start a side hustle with transferable skills from a day job.
Check out freelance talent platforms
If you want to start a side hustle as a freelance professional, you might want to start by looking for freelance gigs on talent platforms like Upwork, Fiverr, or Freelancer.com. Many of the side hustle gigs on these freelance platforms might be one-off projects or pay-by-the-hour assignments. But if you hustle hard and bid on lots of new projects to introduce yourself to potential clients, you might find a good fit for your professional skills.
Look for part-time side gigs
Want a side hustle that’s a little more regular? Instead of one-off projects, you might want to try for a part-time job side hustle with consistent hours each week. FlexJobs is another talent platform that offers freelance gigs as well as part-time remote jobs that can be a great fit for side hustlers. Some of the best-paying side hustles listed on FlexJobs include:
- Software developer
- Project manager
- Account manager
- Consultant
- Web designer
- Technical writer
- Video editor
Piecing together one-off projects and juggling multiple clients is not the only way to make money as a freelance side hustler. Some big companies might have enough work to hire you for 10 to 15 hours per week. If you can fit those hours into your schedule without jeopardizing your day job, this can be a great way to supercharge your income with some extra hours spent working during evenings and weekends.
Market yourself on LinkedIn
LinkedIn is not just for full-time job seekers. If you want to get serious about finding great side hustles, you should consider signing up for a paid LinkedIn Premium subscription. LinkedIn Premium gives you extra tools and features to connect with potential side hustle clients, like free InMail messages to people outside of your network and advanced search features to get found by clients (and see who’s looking at your profile).
But again, be discreet if your day job requires it. Don’t risk getting in trouble with your full-time income’s HR team. Some side hustlers might prefer to use LinkedIn for more behind-the-scenes networking or spotting opportunities when people announce that they are hiring freelancers.
Take care of your small business taxes
As soon as you start earning your first side hustle money, you need to start thinking about small business taxes. Here are three tax moves you should make as a side hustler.
1. Get a business bank account
Even if you don’t form an LLC or other legal entity for your business, you should try to keep your side hustle income (and any expenses) separate from your usual personal income. Get a dedicated business checking account for your side hustle income.
2. Set aside some money for taxes
Extra income is awesome, but you can’t keep it all — set aside a healthy percentage of your side hustle income for taxes so you don’t get hit with a big tax bill. Get a high-yield savings account to keep your extra tax money in. And be prepared to make extra quarterly estimated tax payments to avoid possible penalties during the spring tax season.
3. Use small business tax software
The best small business tax software can help you track your deductible business expenses and understand your estimated tax obligations in advance. And you might want to consult with an accountant to see what you should do to get ready for tax time now that you have extra income from self-employment. Don’t assume that your usual tax withholdings from your day job paycheck will be enough to cover your tax bill!
Bottom line
If you already have a day job with in-demand skills like marketing, video editing, software development, web design, graphic design, or other creative expertise, you can make extra money with a side hustle.
There are many ways to find good-paying side gigs on freelance talent platforms like Upwork, Fiverr, FlexJobs, and Freelancer.com. Make sure to keep your business finances separate from your personal finances, and be prepared for possible tax implications.
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