How to Make Extra Money on the Side with Online Gigs

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It can never hurt to have a second income, right? While most people know the obvious benefits of having side jobs to make extra money, it can be a second job in and of itself just trying to find your new side hustle—especially when you have no idea where to start (Pro tip: Online gigs are a game-changer!).

If you desperately need (or just want) a second job, whether online or not, we’re about to explain how to make extra money on the side, how to find side jobs, and what exactly a good side job might be, so grab a notebook and a cup of coffee and read on!

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What Are Good Side Jobs?

A “good” side job is obviously subjective, but there are some gigs that work better as a side hustle than others. For example, online side jobs for extra money will be some of the best opportunities you’ll find. That’s because they’re usually flexible hours (do it whenever you want!), low maintenance (no one micromanaging you day-to-day), and low commitment (short contracts).

11 Great Online Side Gig Ideas

  • Teach a course
  • Sell crafty items on Etsy
  • Transcribe videos
  • Blog on WordPress or vlog on YouTube
  • Freelance writing
  • Bookkeeping
  • Translate documents
  • Teach English
  • Take surveys
  • Programming/web development
  • Be a virtual assistant

All of these side jobs can be done from home, and can also be tailored to industries or fields that you’re interested in and/or knowledgeable on (which is an important part of finding side gigs online or in-person!).

Even More Great Side Gigs To Make Money

  • Babysit or walk dogs
  • Drive for Lyft
  • Host on Airbnb
  • Make deliveries
  • Sell stuff you don’t use anymore
  • Tutor (you can do this from home too!)

tax

Do I Have to Pay Taxes on Side Jobs?

Yes, you absolutely have to pay taxes on side jobs. Depending on the form of employment, the tax will be taken out of your income like at any other job, and you’ll just collect your W-2 as usual. However, if you’re paid via PayPal, cash, or another way that doesn’t take income tax into account, you’ll probably need to gather a 1099, as an “independent contractor”, from your employer. If it’s not clear what your tax situation should be, we recommend you speak to an accountant or research online for more information regarding income tax on side jobs.

Read More Best Tax Softwares to Use

How To Start A Side Hustle

If you’re wondering how to find side jobs, the first thing you should think about is what you’d like to do, or what you’re good at. Some side jobs, especially certain online gigs, will take a bit more dedication than others. For example, if you love gaming and you want to become a Twitch streamer part-time, you’ll need to spend a decent amount of time building a following before you can monetize your channel; the same goes for other social media platforms, like YouTube and Instagram. That being said, skilled online jobs, like programming or transcribing, won’t require the same level of time and effort, and things like survey-taking can be done by almost anyone!

Basic Steps to Start a Side Hustle

  1. Figure out what you *want* to do
  2. Assess if you have the necessary skills (if not—level up or return to step 1!)
  3. Decide how much time you’re willing to commit
  4. Scour the appropriate companies or platforms in your industry
  5. Look for online side gig opportunities that match your availability

Be sure not to choose anything that you’ll end up dreading or putting off for too long; you don’t want your side hustle to cause more stress than it’s worth. Further, don’t make any commitments that you can’t uphold. It might just be a low-stakes side gig for you, but you still don’t want to burn bridges by failing to follow through on a contract.

Make the Most of The New Income: Read Our 10 Tips for Creating a Budget

hand holding some money

5 Benefits of Having a Second Income

There are plenty of benefits to getting an online side gig, but here are some of the five best benefits for you to consider if you’re still on the fence.

1. Save For Big Purchases

Vacation in Bali. A sleek new Macbook. That new pair of Nikes. You want to live frugally, but still get the stuff you want, right? Finding side gigs to make money can help you get that new thing or experience that you’ve been wanting for as long as you can remember. Use online gigs to put away a little at a time, or use that second income solely for “fun” money! If you have time to put in the extra work, you can get the stuff you want way faster than before.

2. Pay Off Debt Faster

No one wants student loans hanging over their heads for a decade, or to have to worry about that additional monthly payment after getting a new car. Unfortunately, big debt seems all but inevitable as an adult. However, you can pay it down a lot more quickly with side hustle jobs from home or in-person. If you become overwhelmed thinking about how long it’s going to take you to pay off your debt with your primary income, side jobs will be a game changer.

3. Income Diversification

Many economic and financial experts preach income diversity nowadays, in the wake of the Great Recession. In other words, having only one income can be “risky”, especially if you work in an unstable industry or are the primary breadwinner in your household. Unforeseen events or industry shake-ups can leave you blindsided (Covid surely comes to mind), so having a reliable second income will create a cozy safety net to fall back on in an emergency.

4. Live more comfortably

Living paycheck-to-paycheck is stressful and worrisome, especially if you have a household or family relying on you. Finding side jobs can take the pressure off in terms of bills and daily expenditures, and can give you more freedom to make purchases on the fun stuff.

5. Save for Retirement

Millennials know all too well that retirement often seems like a pipe dream. The reality is that you may need a second income if you ever hope to achieve this Boomer-era luxury. If you’re starting to think seriously about no longer working around age 65, or if you have a primary job that doesn’t offer a great retirement plan, then there are tons of side gig ideas that you can use solely for saving for retirement.

Learn How to Find the Best Savings Account

work from home set up

Make your financial life easier with side hustle jobs from home 

Knowing how to start a side hustle is as easy as knowing what you can (and want) to do, and then getting out there and finding the right opportunities online or around town. Pad your savings account, pay bills or debts, or just go on that vacation you’ve needed for so long. The perfect online side gig is out there waiting for you!

Oh, and once you earn that extra money, make sure you spend it right!

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