6 Side Earner Ideas For 2021

Whether you are looking to boost your monthly income, create a backup plan for an uncertain job market, or even lay the foundations for a new career, side hustles are a great way to bolster your wallet and explore work options you have only ever dreamed of. So, to help get you started, we have collated six great side earner ideas you might want to consider in 2021.   

Investing

You might think that you need to be a financial star to become an investor, but these days the barrier into the world of investing has all but been demolished. There are several options available to get started on a budget and with little to no experience, and one of the easiest ways to do this is through mutual funds. 

Mutual funds are a way of pooling together funds from several small investors to buy stocks and bonds in a variety of industries. As such, individual investors can quickly get a diversified portfolio with a minimum upfront investment and a single transaction, taking a lot of the guesswork out of the equation. Some different types of mutual funds include:

Mutual Funds

Mutual funds are run by professional managers, who determine what companies to buy into and sell. They typically involve a wide variety of low-risk companies with a solid financial track record. This can be good from the perspective of the sole investor, as their money is not being used for risky endeavors. 

Exchange-Traded Funds (ETFs)

Companies create ETFs by investing in stocks and bonds and then selling shares of the ETF on the market. So, when you buy a share in an ETF you are tracking the return of the investment in the original asset. Some of the best Canadian ETFs will have a diversified portfolio of assets, making them a safer choice for early investors.

Index Funds

Index funds are a type of mutual fund that contain shares of all the companies in a particular market, they are designed to follow certain pre-set rules to mimic the composition and performance of a financial market index.

Ride Sharing

Driving for ride-sharing companies like Uber and Lyft are a great way to turn your car into cash.

Sign up is easy, so long as you have a valid license and your vehicle, you just need to apply, get the app on your phone, and wait for opportunities to come in.   

There's a good amount of money to be had here, with a lot of people making ride-sharing their primary source of income. However, the pay varies greatly depending on the time you work so the hours may not be entirely flexible, with the best earning potential coming late in the night and early mornings. 

Tutoring

The pandemic has hit the education sector hard, with a lot of school-age children having to learn from home or forgo classes altogether. This has put a great strain on teachers and parents alike, with young learners not getting the support they need. 

On the other hand, this has created an unprecedented opportunity for tutors. With the rise of apps such as Zoom, it has become easier than ever to provide one-to-one support to students from the comfort of your own home. 

So, if you have specific knowledge in a particular subject area like English, science, or maths, then you could be a valuable resource for young learners in need and earn a lucrative income while you're at it.

Virtual Assistant

A virtual assistant is essentially just an assistant who works remotely rather than in a company office. As such, you would be doing a lot of the tasks that a regular assistant would normally do such as bookkeeping, social media management and general administration tasks. 

Over the past year demand for virtual assistants has been on the rise and getting started is as easy as going online and finding clients on websites such as Upwork or business-related Facebook groups.

As work increases and you bring in more clients you can choose to specialize in areas such as customer service and social media, racking up your prices as you hone your skills. Further down the line, you could even choose to branch out and become an independent contractor, increasing your earning potential exponentially. 

Voice Acting

If you have ever been told that you have a great voice, that you should be on the radio or narrate audiobooks, then setting yourself up as a freelance voice actor could be a good opportunity to earn some extra cash. 

Like any side hustle, you can start small, offering your services for cheap on sites such as Fiverr and voices.com, then as your portfolio of work builds and you develop your craft you could even find opportunities for professional work. 

Like other side earners on this list, if you have the talent, enthusiasm, and drive to find clients and create opportunities for yourself, then voice acting could even have the potential to become a profitable full-time career.  

Copywriting

Copywriters are writers that create content for the internet. Work can range from email marketing to blog posts and technical copy for job listings.

So long as you have a good grasp for writing and know how to engage an audience, (a good copywriter knows how to craft a compelling call to actions for their readers), then opportunities for copywriters are boundless.  

The best part about copywriting is you don't need any formal qualifications to get started, and not only are the earning potentials lucrative but you will be gaining valuable experience for your resume at the same time.

Sell Crafts

If you're a creative type with a skill such as metalwork, sculpting, or illustration then making crafts and selling them on sites such as Etsy could be a great opportunity to earn by doing what you love. 

Making a decent living from Etsy is no easy feat, it's a crowded market that can be difficult to stand out in and you might need to invest a little in marketing to bring customers to your page (a cheap and easy way to do this is through Facebook groups.)

However, if you're just looking to bolster your monthly income with a little extra then Etsy is extremely flexible and most importantly, fun.