Almost half of Brits earn a second income through a side hustle. So, if you’re late to the party, here are some nifty ideas to give yourself an income boost in 2022.
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How many people have a side hustle?
According to Airtasker, 46% of people in Britain pocket a second income through a side hustle.
The digital marketplace suggests the recent rise in side hustles has been caused by the ongoing Covid-19 pandemic as people look to boost their income during the current economic uncertainty. Airtasker claims the side hustle economy is now worth a whopping £346 billion a year.
What are good side hustle ideas for 2022?
If you’re keen to boost your income in 2022, here are five side hustle ideas for you to explore.
1. Start an online sales business
If you’re looking for an income boost, then you may wish to start selling physical goods online. Marketplace platforms offered on websites such as eBay and Amazon mean it’s now easier than ever to get an online business going. That’s because these websites allow you to upload your products on their platforms, meaning you don’t have to worry about web hosting or marketing.
Some platforms, such as Amazon, also allow you to use their delivery service. This means you don’t have to store your own items. This is known as ‘dropshipping’.
Perhaps the biggest challenge with starting an online business is knowing what to sell. You’ll also need to consider whether you can source items cheaper than rival retailers. When setting up an online business, extensive research is a must!
2. Become a freelance photographer
If you enjoy photography, then you may wish to explore the possibility of earning extra income through selling photographs. With media outlets always gunning for traffic, many will pay big bucks for pictures that sell their own story.
If you go down the freelance photography route, bear in mind you’ll almost certainly have to shell out for a professional camera. This can make it a relatively costly side hustle to get off the ground.
3. Consider voice-over work
If you’re well-spoken and have a clear voice, then voice-over work should be on your list of side hustle ideas to explore in 2022. A number of websites, such as Voice 123, allow you to join as a voice-over artist and upload a sample of your work. Do this and, with a bit of luck, you’ll be recording messages for clients in no time!
It almost goes without saying, but if you decide to explore voice-over work you’ll have to invest in a high-quality microphone!
4. Start a blog
If you have a knack for words, then starting a blog can be a rewarding side hustle to explore in 2022. While it may be a challenge to attract traffic to your blog at first, hard work will go a long way. Just ensure what you write is interesting, relevant and gives the reader something useful to take away with them.
If you enjoy what you write about, it will be a lot easier to keep your blog up to date.
5. Become a gig worker
The gig economy has grown substantially over recent years. Websites such as Fiverr, Airtasker, and Freelancer.com allow you to sell your skills to the highest bidder. So whether you’re a talented writer, software developer or musician, you may be able to trade your skills for cash!
What should you look out for if you explore a side hustle?
If you decide to start a side hustle in 2022, bear in mind the following three points.
1. Beware of scams
If you wish to explore a side hustle, always be cautious of any ‘too good to be true’ opportunities. Dishonest job postings are sadly commonplace, and they can waste your time or even cost you money. Always do your research before getting involved with a new client.
2. Don’t forget about your day job
Once you’re in the flow of earning extra income, it may be tempting to focus all of your efforts on your second job. Beware of this trap, and avoid taking your eye off the responsibilities of your main job.
3. Avoid burnout
When you’re paid for every job completed, it’s easy to end up taking on more work than you can handle. Keep a close eye on your workflow and always prioritise your wellbeing over the extra cash!
For more tips to help you boost your income, see The Motley Fool’s latest personal finance articles.