What Is a Side Hustle Stack?
A side hustle stack is a combination of different gigs and jobs that you work on at the same time in order to generate more income. The idea is that you strategically stack them on top of one another to optimize your time and income.
The phrase “side hustle stack” might be new to you, but the practice of combining side hustles isn’t. For example, someone with a full-time job could be delivering for DoorDash on their way home from work and then working as a virtual bookkeeper in the evenings at home. And people have been working multiple gigs at the same time for years!
The key to make a side hustle stack work is that you leverage your skills, talents, and resources. Ideally, you are tapping into your passions, interests, and expertise, providing a flexible and efficient way to earn extra income without overextending yourself.
5 Keys to Build a Side Hustle Stack That Works
If your day job isn’t cutting it and you want to build a side hustle stack that helps you reach your financial goals, here’s how:
1. Identify Your Needs
The best way to start a side hustle is by thinking about your financial goals and availability. Do you want to make an extra $500, $1,000, or $5,000 a month? Are you available to work outside of the home, or do you need a work-from-home gig?
There’s truly something out there for everyone. Even if you feel like you only have an extra 3 hours a week, you have options to make decent money.
2. Know Your Options
Now, it’s time to see what kinds of options are out there based on your needs. Below are some examples based on different financial needs, availability, and commitment level.
Low Commitment Side Hustles
These side hustles are best if you need to start making money ASAP. These are also great ones to start if you’re considering one that takes more time to build and earn from, like some freelance work.
- Food delivery driver: DoorDash, Uber Eats, Grubhub, etc. — most drivers earn in the range of $15 to $25/hour, and you’ll need to be at least 18 and have a reliable vehicle.
- Sell stuff online: You can find items around your house to sell, flip things you buy at garage sales or thrift stores, and sell them on online marketplaces, like Facebook Marketplace, eBay, Etsy, and more.
- One-off jobs: You can quickly make $25-$200 in a day doing one-off jobs, like helping someone move, shoveling snow, raking leaves, or assembling IKEA furniture. You can look for these types of jobs on TaskRabbit and Craigslist.
Easy Online Side Hustles
These side hustles are easy, can be done from your phone, and require no commitment. However, you won’t make a ton of money with any of them individually, so you’ll definitely want to stack these with others.
- Take online surveys: You can make in the range of $1 to $3 per survey with market research companies like Branded Surveys and Survey Junkie. These companies are always looking for new users, and registration is free.
- Play video games or watch videos on your phone: You can make around $1/hour with InboxDollars or Swagbucks.
Remote Freelance Work
These are some of the highest paying side hustles on this list, but they require a time investment to get started. But remember that you can start another side hustle, like food delivery, to immediately make money while you start one of these.
- Digital marketing: You can make $1,000 to $2,000/month per client in just a few hours a week doing digital marketing on Facebook and Instagram.
- Bookkeeping: For anyone who is good with numbers, part-time bookkeepers can earn up to $5,000/month.
- Proofreading: You can make an extra $500 to $2,000+ per month perfecting written content for bloggers, academics, business owners, and other professionals.
Passive Side Hustles
Passive side hustles mean you’re earning money while you’re not actively working. These will take either a time, energy, or financial investment to start, but that’s why they’re great for building your side hustle stack.
- Blogging: This is a slow business model overall, but successful blogs can earn upwards of $10,000/month with affiliates, sponsorships, and product sales.
- Real estate: From investing in REITs (real estate investment trusts) to owning investment properties, this can be an incredibly lucrative side hustle.
3. Manage Your Time
Balancing a side hustle with your primary commitments requires effective time management. Create a schedule that ensures you can dedicate sufficient time to both your primary job and your side hustles without compromising your well-being.
4. Know Where to Find Work
To make it work, you will need to leverage the power of online platforms to showcase your skills and attract clients or customers. Engage in networking to expand your reach and tap into a wider audience.
5. Continuous Learning
Stay updated on industry trends and continuously upgrade your skills. This not only enhances your value in the market but also opens up new opportunities for your side hustle stack.
How the Side Hustle Stack Works
A side hustle stack is based on diversification. When you have multiple income sources, you reduce the risk of relying solely on one paycheck, and each component of your side hustle stack contributes to your overall financial stability. This helps you save for emergencies, pay off debt, take more vacations, leave a job you hate, save for retirement, or simply have more flexibility in your budget.
Here are some examples of how the side hustle stack work:
- Michael, a marketing professional, has a full-time job, but he’s also passionate about graphic design. He starts offering freelance design services online, tapping into her creative skills during her free time. He then uses the income he makes from freelance work to invest in real estate.
- Emily, a fitness enthusiast, teaches yoga classes at a local studio and wants to quickly pay off her student loans. She starts delivering groceries, but she also recognizes the demand for online fitness content and starts a YouTube channel sharing workout routines and wellness tips. As her channel gains followers, she monetizes it through ad revenue and sponsorships. Grocery delivery helps her make some money while her channel grows.
By combining their primary jobs with their side hustles, Michael and Emily significantly increase their income potential. They have diversified their revenue streams, minimized risk, and are better equipped to achieve their financial goals.
Final Word on Building a Side Hustle Stack
Building a side hustle stack is nothing new, but it is a powerful strategy that can transform your financial outlook. By capitalizing on your strengths, exploring diverse opportunities, and managing your time effectively, you can create a dynamic income portfolio.
Think about what kinds of side hustles you need to reach your financial goals and which will work best with your schedule and availability.