Americans across the country are gearing up for financial success in 2024, with diverse plans for their hard-earned money. A recent survey by Bankrate in November 2023 revealed that 22% of the surveyed 2,391 U.S. adults aim to tackle their debts, while 15% are prioritizing emergency savings. Interestingly, 16% have set their sights on securing higher-paying jobs or exploring additional income sources.
For those on the lookout for a supplementary income stream this year, the key lies in identifying activities you enjoy or have a natural knack for and considering ways to monetize them. If furry friends hold a special place in your heart, perhaps pet sitting could be your calling.
Experts anticipate a surge in demand for four specific side hustles in 2024:
As the workforce gradually returns to the office post-pandemic, the need for personal assistance has soared. Services like personal shopping, returns, lawn mowing, and car washing fall under the umbrella of a “house helper” or personal assistant. Platforms such as Nextdoor and local Facebook community groups can connect you with potential clients. Rates for these services typically range from $15 to $30 per hour.
The demand for individuals with artificial intelligence (AI) skills has skyrocketed, especially after the launch of ChatGPT in November 2022. Specializing in a specific AI skill, such as using tools like Midjourney and ChatGPT, can be a lucrative venture. Finding a niche where you can excel is crucial. For instance, an AI expert designing book covers charges $150 per hour. Explore sites like Fiverr and Upwork to understand market niches and potential fees.
The desire for travel and entertainment post-lockdown has led to a surge in tourism. If you’re well-versed in your hometown or city, consider offering guided tours on platforms like Viator or ToursByLocals. Whether it’s a craft beer tour in Denver starting at $58 or a tour of Tucson at $445 for up to four people, opportunities abound. Be mindful of fees on these platforms and potential costs associated with the type of tour you provide.
Athletics Instructor for Seniors
With a growing population of seniors, there’s an increasing interest in sports like pickleball, tennis, golf, boxing, and surfing. Platforms like TeachMe.To connect instructors with learners of all age groups. One pickleball instructor, for instance, charges $141 per one-hour lesson. If you’re experienced in any of these sports and enjoy teaching, this could be a fulfilling side hustle. Keep in mind that TeachMe.To charges a commission, so pricing should reflect that.
In the friendly quest for additional income, these side hustles offer not only financial rewards but also opportunities to indulge in passions and contribute valuable services.