Side Hustle Ideas You Can Start From Home

Searching for an additional income stream to help you get ahead financially? Side hustles have become increasingly popular in recent years, allowing you to work your regular job while earning some extra income on the side. If you’re thinking of starting a side hustle to make money, learn more about popular side hustle ideas, finding the best fit for your lifestyle and all the essentials you need to know before getting started.

There are countless side hustle business ideas out there. If you need some inspiration to get you started, some of the most popular include:

Selling unwanted items on eBay, Gumtree and other marketplaces

If you’re wanting to make a few extra dollars while also decluttering your home, selling unwanted items on eBay, Gumtree and other online marketplaces can be a good way to boost your income. Everything from toys and games to collectables and sporting gear can be sold on online marketplaces. Have a look for similar items that have already been listed to get an idea of how you should price your goods.

This side hustle idea may not be the most sustainable option if you’re looking for a regular income stream, but it can be a good option when an unexpected bill arrives or you’re looking to boost your savings.

Clearing out your wardrobe

If your wardrobe has become a little more cluttered than you’d like, selling your second-hand clothing can help you earn a few extra dollars. Websites such as Depop make it easy to list and sell your clothing, shoes and accessories, while buy, swap, sell groups on Facebook can help you find buyers interested in a certain clothing brand or style.

As with selling other household items on online marketplaces, selling your clothing may be better used as a short term source of income. However, if you enjoy looking for gems hidden within the racks of secondhand clothing stores, you could potentially turn selling clothing into a longer-term side hustle to make money.

Turning a hobby into an income source

While hobbies can be a great way to spend your downtime, you may be able to turn yours into a side hustle too. If you’re a little crafty, love to build things or can bake up a storm, there’s likely to be a demand for whatever you make. Try listing handmade items on Etsy, post your creations on Facebook or Instagram, or even set up your own website.

Upcycling furniture and other goods

Upcycling furniture and other goods has become a popular side hustle idea in Australia. Taking cheap furniture, clothing and other items, and transforming them into more desirable pieces does take some time and effort, but you may be able to turn a profit quite easily. It’s important to stay on top of current trends and price your upcycled items to ensure the cost of your time and any additional materials are covered.

Renting out your car space

If you happen to live near a train station or close to an area where parking is limited and don’t use your car space, renting it out could be another great way to earn some extra cash. You can choose to advertise your parking spot on local Facebook groups or make use of a specialised site that helps to match spaces with car owners.

Taking part in online surveys and focus groups

Although it might be hard to believe, some companies and organisations are willing to pay money for your opinion. Whether it’s in preparation for a new product release or simply scoping out what consumers need or want, paid focus groups and online surveys are a great option for boosting your monthly income.

Becoming a freelancer

Sometimes you can use the skills you’ve gained at work or in your spare time to become a freelancer. Whether you consider yourself a wordsmith, have a flair for design or have other skills that are in high demand, you may be able to use them as a side hustle. You might choose to reach out to a business to offer your services directly or use a platform such as Upwork or Fiverr to discover jobs you may be interested in.

While your main focus may be earning additional income, there are a few things to consider before settling on a side hustle idea. To ensure you find the right option for your skills and lifestyle, think about the following:

Your skills and interests

You may have grand ideas for a business venture or an activity that can help you earn some extra income, but if you don’t have the right skills to perform the work, you could be making things harder for yourself. Think about the skills you currently possess, whether you’ve gained them through work or a hobby you enjoy in your spare time. Some may be transferable to a side hustle to make money. It’s also worth thinking about the activities you actually enjoy doing. If you’re considering a task that isn’t all that enjoyable to you, chances are that it won’t be something you’ll want to spend your spare time doing.

The amount of time you have available

Even if you are highly motivated and organised, it still pays to be realistic about how much time you’ll have for your side hustle. Look at how much time you spend at work and performing other essential daily tasks and see how much time you have available to work on your side hustle. It’s important to factor in some downtime too to ensure you’re getting the rest you need.

The products and services people would pay for

Finding a profitable side hustle is all about identifying what people will want to buy or use. Think about whether there are certain products or services you can offer that aren’t readily available. Having a point of difference can be a good way to stand out from the crowd.

Your financial goals

The amount of additional income you’re looking to earn can also help guide you in choosing a side hustle. If, for example, you’re looking to supplement your income sporadically, you might choose a different option to someone looking for a more reliable income stream.

Getting started on a new side hustle can be an exciting prospect. It’s important, however, to take some important considerations into account before you get stuck in. Some common things to consider include:

Financing your side hustle

There’s an old saying that you need to spend money to make money and this certainly holds true for some side hustles. While some may be carried out online without the need for any financial outlay, others will require you to purchase inventory or materials to help you make goods or deliver a service. Think about whether the financial cost of the side hustle you’re considering is affordable and will realistically be covered over time.

Tax

Any income you earn through your side hustle must be reported to the Australian Tax Office (ATO) when you submit your annual tax return. The total extra income you earn will be combined with any other income, such as your nine to five job, and taxed accordingly. As the income earned through your side hustle won’t be automatically taxed throughout the year like your day job, you will need to set some money aside for tax time.

Insurance

In some circumstances, your side hustle may require some form of business or personal insurance. Before you launch your side hustle, be sure to do your research to find out whether it is something you require.