"It's something that helps people earn additional income in financially confusing times," Swimply co-founder Bunim Laskin told CBS MoneyWatch. Rates users charge range from $30 to $100 per hour, with owners pocketing 85% of the fee. If you have more valuable assets, like a tennis court or swimming pool, you can rent it out by the hour for a pretty penny through an app called Swimply. But for articles of clothing that sell for $200 or more, you earn 80%. Sell a t-shirt for $20 and you'll net just $3. ThredUp, an online thrift store, lets users sell and buy secondhand apparel.įor items purchased for under $20, the seller earns between 3% and 15% of the sale price. For example, a number of resale platforms allow you to sell used clothing and goods online, but they tend not to be very lucrative. Other side hustles involve making money from things you own.
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A lot of times their nine-to-fives go into a savings account, and this way they can go out to dinner, buy their kids a game console or upgrade their iPhone." "For our users, the money they earn on the app is spending money. "We're doing phenomenally well because of inflation," he told CBS MoneyWatch.
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MoneyWatch: The Uncertain Economy: How to stretch your dollar at the grocery store 04:18Īlex Atwood, founder and CEO of GravyWork, a site that helps people find part-time, flexible jobs in the travel, hospitality, retail and other sectors, said he has seen a huge increase in candidates signing on to the site. Some of the app's top earners make more than $1,000 a month dog sitting, according to SideHusl. You set your own rate and earn around 75% of the fee. Users can sign up to dog walk, pet sit or provide other animal care services. You can tutor anything, music, math, English, a foreign language, drama, athletics - for any topic there is a tutoring site that will help you market that skill or service to others," Kristof said.Īn app called Rover is another popular platform, particularly among dog lovers. Tutors typically charge between $30 and $100 an hour. "There are all these online platforms that invite you to sign up and earn money through them, and you can do almost anything by connecting with the right platform."įor example, Wizedemy lets users set their own rates for tutoring students in a range of subjects, allowing them to keep 100% of what they earn. "There are so many alternatives right now," said Kathy Kristof, founder of Side Husl, a site that reviews gig economy apps and platforms. In June, 426,000 people were working two full-time positions, compared to 308,000 in February 2020, according to federal labor data. At the same time, more people than ever hold two full-time jobs, amounting to more than 70 hours of work a week. Three-quarters of middle-income Americans say they don't earn enough to afford the cost of living, according to a recent survey. But when you've already cut costs to the bone and feel like you can't chop your spending any further without forgoing basic necessities, it could be time for a second job or side hustle. This can mean trimming costs around the house by culling streaming subscriptions and extending the shelf life of certain foods, for example. Today, with high inflation outpacing wage growth and federal pandemic relief programs expiring, many Americans are looking to stretch their dollar as far as possible. When struggling to make ends meet and cover the cost of living, people generally have two alternatives: spend less or take on extra work to earn more.
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