For most people with a side hustle, that extra work brings in $500 or less each month, according to data from Bankrate.com. But 11% have been able to pull in at least $1,000.
Here are three side hustles that have proven successful for Grow experts, generating at least $1,000 a month.
If you have extra space and the laws in your area allow for short-term rentals, a side hustle as a rental host may be worth considering. The Financial Panther's Kevin Ha typically makes more than $1,000 per month renting out spare bedrooms in his Minneapolis home. He has a dozen side hustles, including walking dogs and delivering food, but says his AirBnB rentals bring in the most money.
The only equipment you need to be a virtual assistant is a laptop and a good internet connection, says entrepreneur Kayla Sloan. She started picking up work as a virtual assistant in 2014, helping CEOs and other professionals with tasks like organizing calendars, setting up meetings, and handling social media accounts.
At first, she made just a few hundred dollars a month, but by the end of her first year, she was routinely bringing in more than $1,500.
A notary is someone who witnesses signatures on legal documents including trusts, wills, and real estate papers, in order to prevent fraud and confirm a signer's identity. Most states regulate notary fees, and the more complex the document, the higher the pay tends to be.
Samantha Lawson, a notary in Colorado Springs, Colorado, found a lucrative niche notarizing real estate documents. A signing package for the sale of a house may require up to 20 signatures, and Lawson averages five packages per week at a rate of up to $150 apiece. Figure in an extra $20-$30 to cover travel costs, and her monthly earning can be as much as $2,400.
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