‘3 side hustles you can start for $50 or less’

In 2018, I started using side hustles to pay off my $40,000 in credit card and student loan debt.

Today, I accomplished that goal — and more. In 2021, I built enough income streams to quit my $98,500-per-year engineering job and work full-time on my businesses.

At 28 years old, I am my own boss, and I work less than four hours a day. Last year, I earned over $189,000 from seven income streams.

My biggest streams come from teaching people how to start profitable side hustles: I post educational content on YouTube, mentor people on Patreon, and sell business consulting services on Fiverr.

Here are three side hustles you can start today for $50 or less:

1. Freelance your skills on Fiverr.

Cost to start: $0

Fiverr is an online marketplace for freelance services. Common tasks include graphic design, writing and translation, and digital marketing.

I created my first business consulting list in 2021. I had a lot of success selling products on Amazon and wanted to share my knowledge on e-commerce.

I charge between $60 and $350 to conduct product research. Someone would tell me what they were interested in selling, and I would find specific products in that category that were high in demand and low in competition.

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I then put together a research report that included product details, where to manufacture it, and cost estimates and profit analysis. I sometimes advise clients on how to list a product on Amazon. I made a profit of $29,000 in my first year.

Fiverr is free to join, and you’ll only be charged when you complete an order. The platform collects 20% of your revenue in fees.

Some other no-cost freelancing platforms to consider: UpWork, 99designs and Guru.

2. Use Patreon to benefit the audience.

Cost to start: $50

Patreon allows you to build and sell subscriptions by giving you exclusive access to your work. I signed up in 2020 to teach people how to build an Amazon store.

Every month, customers pay a fee to communicate directly with me and learn about the best-selling products in various categories. Last year, I earned $33,114 through Patreon.

Signing up to create content on Patreon is free. You pay to use the service once members pay to join your group. Patreon charges between 5% and 12% of your monthly revenue, depending on how many features and tools you need.

Here’s how it works:

  1. Decide on a subscription product or service. You can list anything you have skills and experience with. Search Patreon for creators working in your area of ​​interest to see what’s selling and where you have the most opportunity.
  2. Conduct competitive market research. Once you’ve decided on a niche, review the pages of similar creators to determine a reasonable monthly price to charge members and the features you’re offering.
  3. Create a welcome video. Post it on your page to outline your services to potential members. You don’t need to invest in video editing software — iMovie or DaVinci are free and easy to use.
  4. Set up a Google Ad Campaign. This will help you target people who are looking for your product or service. I only spent $50 on my ad campaign.
  5. Interact with your members regularly. Listen to their feedback to find out what features to add to your page. Word of mouth is essential to growing your Patreon business.
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3. Rent your car at Turo.

Cost to start: It’s different

Have a car? Turo, a peer-to-peer car-sharing platform that lets you rent out your vehicle, is a great way to generate some extra income.

In 2019, I purchased a $22,000 Polaris Slingshot with a $2,000 down payment. I saw people in my market renting their slingshots for $150 a day, and since my monthly payment was about $400 (including insurance), I had to rent my car for at least three days.

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In 2020, I earned $5,717 in gross profit.

Signing up for Touro is free, but startup costs depend on the status of your vehicle. Here are three tips to help increase your profits:

  1. Make your listing stand out with attractive photos. To help my list stand out, I took photos of my slingshot in front of graffiti artwork and local tourist attractions.
  2. Install Lockbox to save you time and offer more flexibility. I put one on the side of my house so the tenants could get the key if I wasn’t around. I always ask for a photo of the customer’s ID to ensure it matches the details on their Touro account. I will then send check-in instructions.
  3. Rent the vehicles that give the highest returns. Touro has data on average annual earnings for a variety of car types and markets. For example, you can make more money leasing a Toyota Prius than a Land Rover Range Rover.

Josh Ellwood is the founder of A loan of dollars. Follow him Instagram and YouTube.

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I Quit My $35K Job To Grow My Side Hustle - Now It Brings In $141 Million Per Year


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