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At some point, everyone needs a little extra money. Whether it’s to pay essential bills or cover a surprise expense, there are times when you need money fast. Waiting for a traditional pay cycle might not always be possible, but thankfully there are ways to make money quickly, efficiently, and legally. As you embark on these side hustles, it’s important to stay on top of necessary taxes. The following insights, ideas, and advice can set you on a path toward fast cash and new revenue streams.
1. Sell your things on eBay, Craigslist, or Facebook Marketplace
If you want to make money quickly, start by selling the things you already have. Take a look at your old clothes, electronics, collectibles, books, and other knick-knacks taking up space in your garage or attic. Instead of organizing a yard sale or garage sale, you can quickly sell these items online on platforms like eBay, Craigslist, Etsy, or Facebook Marketplace. Remember to calculate shipping fees before accepting any offers, as they can eat into your overall profit.
- Time to set up: A few hours
- Time to make money: Days or weeks
- Requirements: Account on the selling platform of your choice (eBay, Facebook Marketplace, etc.), valuable goods
2. Take online surveys
Taking online surveys can help you make money in just a few hours or even minutes. Websites like Survey Junkie and Swagbucks allow you to join their programs and take surveys in exchange for cash prizes or gift cards. While the payout per survey might not be significant, it’s a simple way to earn money while multitasking. All you need is a smartphone or computer to get started.
- Time to set up: Minutes
- Time to make money: Hours
- Requirements: A computer or smartphone
3. Pursue side gigs on freelance sites
If you have a skill that you can translate into freelance work, platforms like Upwork and Fiverr offer opportunities to find gigs and earn money quickly. Whether it’s programming, graphic design, or writing, you can create an account, bid on available jobs, and complete the work to get paid. Building a positive reputation can lead to more work and the potential for a decent income.
- Time to set up: Hours
- Time to make money: Days
- Requirements: Skills and qualifications for freelance work, a computer, any necessary software
4. Pet sitting and dog walking
If you’re an animal lover, apps like Rover and Wag provide excellent opportunities to make money fast. You can offer pet sitting and dog walking services, earning income in less than a day. Create a profile, add photos of yourself and some furry friends, and start booking clients. Depending on your availability, you can walk dogs during the day or evening, providing a valuable service to pet owners.
- Time to set up: Hours
- Time to make money: Hours
- Requirements: Pet sitter app, a smartphone, pet supplies (such as leashes and bowls), a love for animals
5. Babysitting
Babysitting can be just as profitable as pet sitting, if not more so. However, finding babysitting jobs requires a more careful vetting process. Develop a reputation as a trusted babysitter in your area by reaching out to your network, applying to job boards like Care.com, or getting referrals from current clients. Many parents require fast babysitting solutions on short notice, making it a great way to earn extra cash quickly.
- Time to set up: Days
- Time to make money: Varies
- Requirements: A mobile phone, good communication skills, patience, fondness for kids
6. Become a tutor
If you excel in a particular subject, you can help local students as a tutor. Reach out to your network to gauge demand and find early clients. Additionally, you can join online tutoring platforms like Chugg Tutors or Tutor.com to teach students from your own home. While these platforms take a cut of your earnings, they offer added flexibility. Tutoring can be a rewarding way to earn money quickly by helping others learn new concepts and test-taking strategies.
- Time to set up: A few days
- Time to make money: Hours
- Requirements: Good grades, subject-specific expertise, a laptop
7. Host guests on Airbnb
If you have a spare room or a second property, you can earn passive income by hosting guests on Airbnb. Take appealing photos of the space, list your house rules, and start booking guests. However, hosting on Airbnb requires effort to prepare the property for guests and provide a clean, safe, and comfortable space. Be sure to check local zoning laws, as regulations on short-term rentals can vary.
- Time to set up: Days
- Time to make money: Varies
- Requirements: Second home or spare room to rent, Airbnb account, extra home supplies for guests’ comfort
8. Drive delivery
Delivery driving is a popular side gig that only requires a vehicle and a smartphone. Apps like Lyft, Uber Eats, Instacart, and DoorDash offer opportunities to earn money by delivering food and other items. However, the setup process can take time, as you’ll need to submit a resume, go through an interview, and pass a background check. Once employed, you can work any hour of the day and earn money through deliveries.
- Time to set up: Weeks
- Time to make money: Hourly, once employed
- Requirements: A car, a smartphone, good communication skills
9. Do odd jobs
There are various odd jobs in your local community that people need help with, such as home repairs, grocery shopping for the elderly, groundskeeping, yard work, housecleaning, house sitting, furniture repair, junk removal, or snow shoveling. Advertise around the neighborhood and sign up for platforms like Taskrabbit to find odd jobs. Most of these tasks can be completed in a matter of hours, allowing you to make quick money.
- Time to set up: Hours
- Time to make money: Hours
- Requirements: Handyman skills, tools, an app profile
How to handle taxes and side hustle income
Before you start hustling for fast money, it’s important to stay on top of your tax responsibilities. Self-employed individuals are required to file an annual return and pay estimated quarterly taxes if they make more than $400 according to the IRS. To avoid a surprise tax bill, set up a separate savings account and set aside a portion of your side hustle income for taxes. As a general rule, put between 25% and 35% of your income into this account to cover income taxes and the self-employment tax. Additionally, keep track of business-related expenses that you can deduct from your taxable income. Set up a separate checking account for business expenses to make tracking easier.
By exploring these side hustles and managing your taxes responsibly, you can make money online quickly and legally.
