Want to make a little extra money? It seems like virtually everyone has a side hustle these days, but how do you choose which one is best for you? Here are the most popular side hustles out there, along with a breakdown of how they work and how much you can expect to make.

Who couldn’t use a little more money?

Whether you’re struggling with a job that doesn’t quite pay all the bills, or just want to have a bit more disposable income to save, invest, or splurge, a side hustle is a great way to bridge the gap.

If you haven’t heard the term “side hustle” before, it generally refers to an extra job, project, or task that earns “extra” money outside of your primary job. There are plenty of different side hustles you can get involved with, ranging from selling your services online as a freelancer to driving and delivering food.

When trying to decide which side hustle is right for you, it helps to categorize them into two types:

  • Passive side hustles earn you money while you sleep. They don’t require active work on your part. A good example would be renting out your home or tools (with us!), which are resources you already have to hand.
  • Active side hustles only earn you money for the time period you’re working. Any job that has you clock in and out, for example, is “active.” Every minute you’re not actively working, you’re not making that cold hard cash. These types of side hustles include driving, food delivery, and freelance projects. They require more effort in the long run.

Passive side hustles are obviously the most desirable because…hey, who doesn’t want to make money with minimal effort?! However, generally they require the possession of an asset.

If you don’t have the space in your home to be able to rent it out, or don’t own any tools in the first place, then what? An active side hustle you can knock out in your free time might be better.

There’s a side hustle out there related to whatever you’re interested in, but a select few have risen to the top as the most popular. Which are the most lucrative and popular side hustles out there? How do they work in terms of money and effort? That’s what we’ll be looking at today.

As with all side hustles, remember to consider your operating expenses. Will you make enough money with Uber, for example, to cover the gas of driving around?

most lucrative side hustles

Becoming a Driver

One of the most popular side hustles is to become a driver. For most people, especially those starting out, a car is the biggest asset they have to work with. Companies like Uber and Lyft have made it incredibly easy to get started.

Depending on where you live, driving wages may or not be comparable with other jobs in your area. For example, Lyft drivers reportedly earn an average of $17.50 per hour, and Uber drivers seem to earn a little less—around $14.73 per hour.

In most cases, the tradeoff is the flexibility: you work when you want, for as long as you want, and you have the power to offer customer service that can result in good tips!

This isn’t a side hustle that’s going to solve money issues overnight, but it can be a great, consistent source of extra cash throughout the month.

best side hustles for me

Delivering Food

Becoming a food delivery driver is another popular side hustle, as it’s convenient and easy to fit around a day job or student schedule. (Also a good alternative if you’re less of a “people person” but still want to make use of your vehicle as your primary asset!)

There are two main types: restaurant food delivery and grocery delivery.

The restaurant delivery space has blown up in the last ten years, with nearly half a dozen companies entering the fray: Postmates, Uber Eats, Grubhub, and DoorDash. All offer roles as delivery drivers, and it’s simple to get started. It’s worth noting that you might be able to find local food companies looking for part-time delivery drivers as well.

Grocery delivery gigs vary by location, but Shipt and Instacart are the two most prominent players in the game.

The pay for delivery work is, on average, just above minimum wage. Earnings will depend on where you are, the times of day you work, and how often you work. As with being a driver, there is the potential to earn tips to boost your earnings.

most lucrative side hustle

Freelancing

Nowadays, you can become a freelancer for pretty much anything. Whether you’re a writer, developer, artist, or designer, there’s a freelance gig out there that’s just waiting for you.

If this is the path for you, you’ll have to decide how you want to find clients: either go it alone yourself (more work and effort) and keep all your earnings, or join a third-party platform like Fiverr or UpWork. These companies take a cut of your billings in exchange for providing the platform to connect you with clients and process payments.

On either platform, freelancers can set up their own gigs in a wealth of different categories and sectors. Gigs on Fiverr cover almost any topic—entrepreneurs sell everything from social media marketing and proofreading to poem writing and tarot card readings!

Freelancing pay varies wildly depending on the market, project, client, and even platform—but the good news is it’s entirely in your hands. You set all your own prices.

Like any good side hustle, freelancing offers flexibility. It’s easy to structure around your everyday working life. With that in mind, make sure that you put a cap on the number of orders you’re willing to accept in a given week or month so that you don’t burn out.

most popular side hustles

Renting Out a Room in Your House (Or The Whole Dang House!)

Now we’re moving into the land of passive side hustles!

If you’ve got a spare room or you spend a lot of time away from home, renting could be a great side hustle for you. (In most cases you’ll have to own your own home to participate, as the majority of rental agreements forbid any kind of subletting.)

Airbnb is one of the most popular choices for people wanting to rent out their homes, followed by the newly-revamped VRBO.

Hosts can set their own prices, though Airbnb takes their 3% cut, of course. The average nightly rate is $80, but this varies tremendously based on your location and if there’s a major event or tourist attraction drawing visitors to your area. Your earning power can be directly influenced by the accommodations you’re offering—the nicer the space (or the more amenities you provide), the more you can charge.

With home rental, there’s always the risk of guests damaging your home during their stay. It’s rare, but is worth bearing in mind.

most popular ways to make extra money

Renting Out Your (Other) Stuff

If you don’t own your home but still only have time for a passive side hustle, what do you do? Figure out what other assets you have that you can rent out.

Want to rent out your car? Turo is one of the more popular apps connecting visitors and tourists with local residents looking to make a buck. Getaround is another one, though at the moment it’s only present in major metropolitan areas.

Spinlister lets you rent out your sports and leisure equipment. (Anyone else bought a kayak on massive sale at Dick’s and then used it once in three years? No? Just me?)

A few other, more niche, rental services include Buro (everything), BabyQuip (baby equipment), Style Lend (designer clothing), Boatsetter (boats…), and RVShare (you got this!).

Another great way to earn extra cash on the side? Rent out your tools with Sparetoolz! Have you got some tools in the shed that you don’t use anymore? How about those gardening tools sitting in the corner of your house? That’s money just waiting to be made.

Sparetoolz is the best way to get started with tool rental, and it’s free and easy to set up. Download it here to give it a whirl.

Time to Do The Hustle

There’s been a lot of chatter relating to ‘financial freedom’ in the media lately, but it doesn’t need to be as mysterious or complicated as it’s sometimes made out to be. Having a side hustle to support your main source of income doesn’t have to be a struggle.

If you’ve got a car, house, set of tools, or skill, you’re sure to find a side hustle that fits around your everyday working life. There’s something for everyone.

Sparetoolz is proud to support side hustles for all. Our app allows for peer-to-peer tool sharing within local communities, and is a great way to both earn and save money. Download the app for free here to get started, or get in touch with a member of our team. We’d be happy to answer any questions you might have.

Latest Blog Posts

25 Things You Need to Know About Maintaining a House 25 Things You Need to Know About Maintaining a House
Maintaining a house requires effort, but it doesn't have to be difficult. Here are 25 tips to get you well on your way to a happy home.
Peer to Peer Platforms You Should Know About Peer to Peer Platforms You Should Know About
Sharing is caring, and now you can save--or make--a little money while you’re at it. 
What is Minimalism and Where Did it Come From? What is Minimalism and Where Did it Come From?
Minimalism can start in the home, but its benefits reach far beyond a design style.
Is The Industrial Trend Dead? Is The Industrial Trend Dead?
Design styles rotate faster than you can say "mid-century modern." Is the Industrial trend queued for a comeback?
The Ultimate Guide to Understanding Interior Design Styles  The Ultimate Guide to Understanding Interior Design Styles 
The first step to executing your dream home design is understanding why it works.
How to make your home more eco-friendly 9 Ideas to Make Your Home More Eco-Conscious
A happier, healthier Earth can begin right at home.
6 Essential Elements for Any Outdoor Entertainment Area 6 Essential Elements for Any Outdoor Entertainment Area
Create a personal oasis, right in your backyard, with these six simple tips.
How to Create the Perfect Home Office How to Create the Perfect Home Office
Whether you're working from home by choice or because of the COVID-19 pandemic, create a calm, motivating home office space with these easy tips.
How to Organize Your Garage - 10 Tips & Tricks How to Organize Your Garage - 10 Tips & Tricks
Organizing your garage might be the most terrifying task on your to-do list, but it doesn't have to be! We've got 10 tips to get you started.
The 8 Tools EVERYONE Should Have  The 8 Tools EVERYONE Should Have 

You might not need these tools often, but when you do--you really do. Don’t let common tool-requiring household tasks or fun DIY projects catch you by surprise.

6 Reasons You Should Join the Sparetoolz Fam as a Tool Owner  6 Reasons You Should Join the Sparetoolz Fam as a Tool Owner 
You’ve probably heard a lot about the rise of the sharing economy. From Uber to Airbnb, the business of sharing is booming. The question is, how can you make it work for you?
More Than a Spring Fling: How to Keep Your Garden Fresh All Year Long More Than a Spring Fling: How to Keep Your Garden Fresh All Year Long
Ah, spring: the gentle awakening from winter hibernation.
Indoor Garden for Small City Places 4 Ways City Dwellers Can Build the Garden of Their Dreams
You might think that lush gardens are only for those with large homes and sprawling acreage, but we have good news: here are 4 tips for creating a botanical paradise, even in small urban spaces!
How to Make Your Home Feel Bigger and Brighter How to Make Your Home Feel Bigger and Brighter

Trapped at home? We've got 5 easy tips for making your space feel open and airy.

Routine Shakeup: 9 Weird Craftsman Hobbies to Try Right Now Routine Shakeup: 9 Weird Craftsman Hobbies to Try Right Now
Challenge boredom with these off-the-wall craftsman hobbies sure to get your creativity rolling.
Light Up Your Fireplace (No Fire Required) Light Up Your Fireplace (No Fire Required)
Looking to repurpose your fireplace? Check out our creative round up of alternative uses!
How to Make Your Apartment Feel Homier How to Make Your Apartment Feel Homier
The threat of coronavirus has everyone hunkered down at home. Here's how to make your space as homey and comfortable as possible.
Things to Look Out for When Moving into a New House as a Renter Things to Look Out for When Moving into a New House as a Renter
Renting a new place? Save yourself a headache by checking off the items on this list before moving in.
Do Carpenters Still Exist or What? Do Carpenters Still Exist or What?
WOODN'T you like to know?
This Is The Most Under-Appreciated Room In Your Home This Is The Most Under-Appreciated Room In Your Home
Closets are often treated as merely functional and nothing more, but there’s so much opportunity to make this space spectacular. Your wardrobe might be the most under-appreciated space in your home, but no longer!
Here's How to Airbnb a Room in Your House Here's How to Airbnb a Room in Your House
If you happen to have a spare room and are looking for a new side hustle to generate some passive income, look no further than Airbnb. We’ve put together a list detailing the basic four-step process for how to Airbnb a room in your house AND make the most of it—quite literally.   
Unique Housewarming Gift Ideas Unique Housewarming Gift Ideas
In a world where most housewarming gifts are the expected (and boring) candles, towel sets, and coasters, it can be tough to find a unique gift that’ll be used and appreciated. We've got you covered!
Here’s the Cleaning Checklist You Need for Every Season Here’s the Cleaning Checklist You Need for Every Season

If you’ve been looking for a seasonal cleaning checklist you can easily work your way through, look no further.

The Top 20 Coolest Airbnbs in the America Right Now The Top 20 Coolest Airbnbs in the America Right Now

When you’re traveling around the country, it’s so much more fun to stay somewhere interesting and heighten the experience. Airbnb is a peer-to-peer rental service (just like Sparetoolz!) that offers countless intriguing homes for adventurous travelers to rent. Here are the Top 20 Airbnbs in America.

Household Items You Can Use as Tools Household Items You Can Use as Tools
At some point, you might not have the specific tools you need to tackle a particular job. Here are a few household items that will help you get the job done in a pinch.
How to Paint Your Apartment Walls and Get Away With It How to Paint Your Apartment Walls and Get Away With It
Painting your walls can make your rental apartment feel like home or serve as an outlet for creative expression. Unfortunately, most landlords won't allow it. If you're the daring sort, find out how to paint your walls and get away with it when it’s time to move out. 
10 Easy Ways to Upgrade Your Bedroom on the Cheap 10 Easy Ways to Upgrade Your Bedroom on the Cheap
Redecorating is a task that’s often thought of as being expensive and time-consuming. Fortunately, switching up your interior design doesn’t have to be. There are plenty of affordable yet impactful ways to change how your surroundings look--and today, we’re sharing some tips on how you can do this with your bedroom.
Easy Home DIY Projects You Can Do in One Weekend Easy Home DIY Projects You Can Do in One Weekend

Are you interested in taking on a DIY home project, but feel intimidated by the time commitment? You don’t need...

Choosing the Right Paint Color for Every Room in Your Home Choosing the Right Paint Color for Every Room in Your Home

When it comes to interior design and home renovation, giving your walls a fresh coat of paint is often the...

What is the Tiny House Movement and Why Do People Do It? What is the Tiny House Movement and Why Do People Do It?
The tiny house movement has gained a lot of momentum in the last decade, but why? It's based on the tenets of the minimalist movement: owning less, so that what you own doesn't own you. What are the benefits of giving up the majority of what you own? Minimalists ourselves, we dug in to find out more.
WINNER, WINNER, CHICKEN DINNER! WINNER, WINNER, CHICKEN DINNER!
The Sparetoolz $350 Gift Card Giveaway is now over, and the winner is...
The Benefits of Peer-to-Peer Rental The Benefits of Peer-to-Peer Rental

For many of us, we don’t know what we need until the moment we need it.  It makes sense, right?...

WIN FREE TOOLS AND EQUIPMENT! WIN FREE TOOLS AND EQUIPMENT!

CALLING ALL TOOL OWNERS, CARPENTERS, DIY WEEKEND WARRIORS, FLIPPERS, & HANDYFOLK! Could you use a new power drill? What about...

WE ARE LIVE! WE ARE LIVE!

Ladies & gentlemen, we are LIVE!   “User friendly & intuitive” “A lifesaver” “This is perfect!”   After months of...

DIY Home Improvement Projects to Avoid DIY Home Improvement Projects to Avoid

DIY Home Improvement Projects...to Avoid! We’ve all been there. It’s an all too common problem, if you're a religious saver....

Why We Founded Sparetoolz Why We Founded Sparetoolz
An innovative solution to a frustratingly common problem!
Need a Side Hustle? Earn Cash by Renting Out Your Spare Tools! Need a Side Hustle? Earn Cash by Renting Out Your Spare Tools!

 

Sparetoolz helps you make money by renting out the tools you already own