Mister “What’s up Graham, it’s guys here” has identified 10 legit ways to make some extra money. First and foremost (and this is sooo Graham) is dividend income. “Now before you yell at me and say, ‘But Graham, that’s not a side hustle,’ look, that’s somewhat true. But the purpose of a side hustle is to create multiple sources of income; of which, this one is probably the easiest to do right now. And the average dividend in the financial sector is 4.17%.”
NEXT: And Speaking Of Awesome Side Hustles
“Utility companies pay about 3.9%,” Graham continues. “And others, like consumer goods, healthcare and industrial, pay about 2.2%. That means if you invest $100 into one of the stocks, you could make anywhere from 2- to $4 a year for doing absolutely nothing besides clicking a few buttons on your phone. So this of course, I get it, it technically takes money to make money, but if you have the income and don’t mind investing it, dividends can make a fantastic side hustle.”
Going hand in hand with that, Graham’s second favorite side hustle is capital gains. Like when you sell your dividend stock for a profit, right? Where, the amount you’ll pay tax on is known as your capital gains. For example, if you buy a stock for $10 and sell it for $25, you’ll owe taxes on that $15 profit. (It’ll be reported to the IRS as a source of income. Yeah, they’re always watching.) The difference between capital gains and dividends is, with capital gains, you don’t pay taxes until you sell and actually lock in the profit.
Cool, what’s his third favorite side hustle? Rental income, surprise surprise. “And with this it’s entirely possible to make money with nothing outta pocket even if you don’t own your own property,” Graham assures us. “Yes, if you buy a property and rent it out, you’re doing well. But you could make quite a lot of money just renting out an unused bedroom or an extra storage space like a garage. My podcast cohost Jack [on The Iced Coffee Hour] earns an extra $100 a night doing this.”
Fourth is just selling stuff ya already own. “I would venture to say that almost all of us have something we no longer use, that’s collecting dust in the closet, that could be sold for money,” Graham explains. “Places like eBay, Facebook Marketplace, and even Craigslist make it extremely easy to list whatever you have, place it up for auction, have the buyer cover shipping, and your total time commitment is simply taking pictures of what you have, listing it online, writing a description, and then waiting for it to sell.”
What’s five? Wait for it: a part-time job. (OMG. Just peak Graham.) “I’m just surprised how complicated people make this out to be,” he rants. “Honestly, working for someone else gets you guaranteed income, predetermined hours, and zero risk of not getting paid. It doesn’t need to be glamorous and it doesn’t need to pay you an exorbitant amount, but if you’re willing to do some extra work for a local business or for somebody else? Then look for some local options within your city.”
Last and most difficult would be starting your own business. Which, let’s be honest, no matter how crazy your schedule is, you probably got from like 7 p.m. to midnight, every single day, to devote to this. If you wanna get ahead, you have to learn to use this time and make it count. That’s how Graham’s YouTube channel started out; and now look at it. But there are so many viable online businesses you could do. Amazon FBA, dropshipping, affiliate marketing, blogging, audiobooks, or, best of all, what’s linked below.
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