During this time, many of us – including myself – are finding money to be tighter than usual. So I thought I would compile a list of side hustles to make a little extra money to push us through to bigger and better times ahead!
1. Airbnb Your Spare Room/ Your Bedroom
Airbnb has always been a great resource if you have the extra space, however recently I have heard friends of mine renting out their own bedroom and staying the couch for the night. Alternatively, you can rent out your whole place and stay at a friend’s for the night or weekend. In Toronto, this could pay around $80-120 a night for a semi-private room including a cleaning fee.
2. UberEats Delivery
Got a bike or subscribe to BikeShare? UberEats can give you a little extra money. From my experience, it pays about minimum wage ($14/hr). You can also deliver by walking however this pays less per hour than biking or driving.
Uber and Lyft can be a great way to make a little extra cash if you already have a car. Just bear in mind cars older than 7 years old won’t be approved. Also, if you have an SUV or van you can make more per trip with Uber XL and if you have any kind of luxury vehicle – Uber Black!
I don’t know about you, but I have been online shopping way more since staying home these days – and other people are doing the same! A friend of mine has made more than $600/month just selling things on Poshmark – clothes from Forever 21, shoes, jewellery, name brands especially sell well, even if they are slightly worn.
Now that we have a few ideas for making a little extra cash, budgeting is key. It makes you feel good to know that you have, for example, a certain amount each month for entertainment so you don’t have to feel guilty anytime you spend money on a non-essential.
Pigly also offers many calculators that can be extremely helpful for example, loan calculators to know how much your monthly payment would be if you need a little extra to cover you during these times. Also, credit card calculators to know what would be the best deal for a cashback card or what the lowest interest cards on the market today. They also offer other interactive tools like budgeting, home loans, mortgages, savings, retirement planning, the list goes on.
Mint is another online budgeting app that you can link to your debit and credit cards to see how you are spending your money. I did this last summer and couldn’t believe how much I was spending on restaurants – almost as much as my rent at the time. It got me to put an emphasis on cooking at home and suggesting other kinds of social gatherings in order to see friends.
Let me know your favourite money savvy tips in the comments below!
Happy hustlin’ 🙂