Starting a side gig without any upfront investments could change your financial future, as it will provide you with additional income with minimal risks. Gig economies have grown exponentially in the last couple of years due to technological growth and a shift in perception towards work-life balance. In the U.S. alone, about 54% of adults have side gigs, according to MarketWatch Guides, making an average of $688 per month, as reported by Self Financial — that’s approximately $247,680 over 30 years.
The estimated worth of the gig economy worldwide is to reach $455.2 billion by 2025, according to Statista, which puts into perspective many opportunities for someone willing to put in their time and energy to better position their finances.
Below are side gigs you can start today with practically zero upfront investment.
- Freelance Writing and Editing: As companies increasingly outsource content creation, writing has gained a lot of demand. It could be anything from blog content, copywriting for marketing, creating technical guidelines or editing and proofreading. There are dozens of freelance platforms like Upwork, Fiverr and Problogger where you can find these gigs. According to data by We Are Indy, pay can range from $30 to $300 per article, depending on experience and field of expertise. Editors charge between $10 and $50 hourly, depending on experience and location.
- Online Tutoring: E-learning is a growing market set to grow as high as $374 billion by 2026, according to GlobeNewswire. Facilitated through online tutoring services like VIPKid and Tutor.com, anyone who has learned and passed a particular subject well could help other students do the same. According to Indeed, Tutors are paid anywhere from $14 to $44 per hour, depending on the subject and location.
- Virtual Assistant: Virtual assistants or VAs support businesses by handling administrative tasks like emailing, scheduling, managing social media and data entry. This field is growing, considering the workforce is opening up more to remote work. Many firms need virtual assistants to perform tasks that do not require full-time workers. According to Upwork, virtual assistants’ salaries vary from $10 to $20 per hour for beginners, with the potential for $30 or more per hour for an established assistant.
- Affiliate Marketing: In affiliate marketing, the salesman earns a commission for every sale made of specific products or services promoted. With easy subscription options through Amazon Associates, ShareASale and ClickBank, they will only require marketing through a blog or social media. The real value of the affiliate marketing industry in the U.S. in 2024 is $17 billion and is expected to grow to $27.78 billion.
- Content Creator on YouTube or TikTok: YouTube and TikTok allow people to earn from ad revenue, sponsorships and affiliate marketing. Success requires only consistency, and you could build a following with your smartphone and free editing tools.
- Selling Handmade Products on Etsy: Artists could monetize their work by selling products on the Etsy marketplace, which has over 90 million active customers. Custom jewelry, candles, art, and stationery are in demand items.
Starting a side gig opens up many opportunities, and with the gig economy growing, now is the perfect time to consider these options for extra income.
Source: GOBankingRates
