Side hustles are something that we’ve always done— making use of our knowledge, skills, time or an opportunity to make some extra money outside our normal 9 to 5. However, it’s only in the last decade, through the internet and various share-economy tools, that the term side hustle has really taken off. We’re starting to see side hustles as something cool and admire others around us who take on the extra work.

Earning extra money without having to give up the stability of an existing job is a powerful motivator.

It was only after reading Chris Guillebeau’s book on side hustles and listening to his podcast, that I really understood just how many opportunities there were out there to be creative and make a little extra on the side. Making some extra money can be life-changing when your 9 to 5 paycheck is just covering the bills. I know some people who used their side hustle money to pay off debt, save for a holiday or put money aside for their grandkids.

Whatever your reason for starting a side hustle, it’s a great way to learn essential business and finance skills that you don’t get in high school, in a very practical and hands-on way. The current climate makes some business ideas impossible, but, it’s also paving the way for a whole host of new ways to make some money.

Another option if you’ve got the time, is to start putting the building blocks in place for a side business when the world starts going back to normal (imagine all these books that will be written)!

A Side Hustle is Not:

  • A second job
  • Energy drain
  • A hobby

A Side Hustle is:

  • Control
  • Asset & Options
  • Different to day job
  • Profitable & Fun

How to Generate Ideas For Your Side Hustle?

  • Observation
  • Problem-Solving
  • Asking Questions
  • Experimentation

Key Things to Consider

  • Personal liability & insurance — check out business.gov.au
  • Don’t forget about tax
  • Keeping records and paying bills
  • Don’t let it impact your day job performance

COVID-19 Appropriate Side Hustle Ideas

  • Online yoga or fitness classes
  • Primary & Secondary school tutoring
  • Production and online store selling soaps, hand washes, hand creams, wipes and sanitizers
  • Home fitness and nutrition program creation
  • Online cooking classes
  • Creating digital artworks and portraits
  • Create an app with in-app purchases (kudos to you if you do this)
  • Monetise your skills by developing and selling an online course
  • Knit socks, beanies and scarfs for sale in Winter
  • Online language or music classes

Other Interesting Ideas (from Chris Guillebeau’s 100 Side Hustles Book)

  • Personalised Funeral Urns
  • Poisonous Toad Removal
  • Excel Courses
  • Rabbit Breeder
  • Bridal Gear Rental
  • Live Cricket Drop Shipping
  • Scooter Tours
  • Biking Wine Tours
  • Embroidered Travel Patches
  • Candy Subscription Boxes
  • Late Night Cookie Delivery
  • Children’s Flash Cards
  • Anti-Mosquito Wristbands
  • Rideshare Coach

I’d love to hear about your side hustle endeavours!

Kate — HTM Editor & Founder

Resources

Want to learn more about money and personal finance? Check out our article archive, the How To Money Podcast and the Australian Finance Podcast. Catch us on Twitter @HowToMoneyAUS and Instagram on @HowToMoneyAUS.

Important Information

The information on this blog and website is of a general and educational nature only. It does not take into account your individual financial situation, objectives or needs. You should consider your own financial position and requirements before making a decision, as we are not an advisory service. We recommend you consult a licensed financial adviser in order to assist you. The information is based on assumptions or market conditions which can change without notice, and this will impact the accuracy of the information provided. This website and blog occasionally provide links to third-party sites, aimed at helping you gather the information required to make an informed decision — we may receive payment for these referrals.