Wondering what side hustles will make you a millionaire in 2022, I have compiled a list of 15 of the most lucrative means of passive income!
Starting a side hustle is arguably one of the best ways to increase your income and create financial comfort. If you wish to save up for a purchase, grow your retirement savings, or pay off debt, getting a side gig can help you achieve any of these.
In a world that is seeing rapid digitization leading to a boom in the number of side gigs available, picking one that suits you can be quite a challenge. You will agree with me that the best side hustle ideas should be flexible and pay well for the work you’re doing. Side hustles are gigs that have no restriction on your own time. In most cases, they are scalable and could generate passive income after an initial time investment.
In this article, I will be sharing 15 of the best side hustle you can engage in 2022. If you have been searching for a collection of side hustles to pick from, look no further than here!
Related article: How To Make Money On Instagram With Clickbank.
Tips to Consider When Choosing a Side Gig
Before you run off to jump on the next gig that comes your way, here are specific pointers you should consider:
– Consider its Earning Potential
When it comes to picking a potential side hustle for yourself, earning potential should be your number one priority. For instance, if you have a car in good condition, you can consider signing up for Uber services or simply delivering packages. Both options have a good earning potential with totally flexible scheduling.
Earning potential is also dependent on your time. If you have a considerable amount of time to invest in your side hustle, chances are you are likely to grow your earning potential over time.
– Consider Flexible Scheduling
What makes a gig a side hustle is its flexibility. And since you are looking for a side hustle to try and get extra income asides from your daily job, it must be flexible. Interestingly, the most flexible jobs are online-based or app-based, like ride-sharing and delivery services.
Notwithstanding, you can still find many jobs offline; a quick example is tutoring. And there is good flexibility and earning potential there as well.
– Consider its Growth Potential
I find side gigs that are scalable appealing. The growth potential of a gig offers you chances to build a much bigger business from it later on. If you like the idea of a possible career change, then you should consider this factor. If not, you can forego.
Many of the side hustles available today have no growth potential. Others, such as blogging or affiliate marketing, have huge growth potential. As I said earlier, it all comes down to what you want from your side gig. Thankfully, there is no one correct answer here, but you should realize the future potential when you get started.
15 Of the Best Side Hustle to Start In 2022
With the above pointers in mind, let’s get down to the business of the top 15 gigs that can make you a millionaire in 2020:
Tutoring is one gig that is abundant both online and offline; this makes it one of my favorite side hustles. Teachers, college graduates, or professional skill holders can leverage this gig to get paid. One aspect of tutoring that seems to be on-demand right now is language teaching. You can get jobs to teach just about anyone a language you are good at online.
A plus for doing this online is that you have access to a global pool of potential customers. This makes it a perfect side hustle if you’re looking for something you can do at home, on your computer, and at any time. You should also be comfortable teaching over a webcam at home – so lights, a good camera, and technical computer skills are required.
Keep in mind that you are not limited to online presence alone. You can also tutor any subject offline by finding students in your area. Tutoring depending on what aspect you teach, can fetch you a potential earning of around $400 per month
Many people are aware of blogging, but a few know it as a reliable side hustle. This is so because blogging does not appear to be an immediate income-producing opportunity. Starting and growing a blog is time-dependent, but with the right tools and training, you can start earning at least $500 per month. Again, this all depends on how consistent you are.
Blogging makes it onto this list due to its growth potential. With a well-developed blog, the opportunities it presents are diverse. Getting off your mark can be slow and time-consuming, but you can view this gig as a long-term side hustle. Blogging also checks off on schedule as it works with your time perfectly.
Start a YouTube channel.
YouTube can be a steady source of passive income if you monetize it. Just as with blogging, earning money from YouTube requires effort and time. You need to find a comfortable niche and then grow your traffic. Once that is done, you can make advertising income, affiliate income, create sponsored content, and sell branded merchandise.
Still, doubting how much money you can make from YouTube? Consider this answer then; in 2019, 8-year-old Ryan Kaji earned well over $26 million. While it will take you time to attain such levels, finding the right niche for you can be the difference. New YouTubers are also earning, and you can use this as a side hustle to supplement your income.
Amazon Kindle Publishing
If you are talented with words and good at writing, then Amazon Kindle Direct Publishing can be a worthy side hustle for you. Writing and publishing have never been easier, and the amazon kindle platform allows new writers to start publishing eBooks without any previous experience. With this, you don’t need to find a publisher, negotiate rates and work under tight schedules. You simply write and publish at your own pace.
Successful eBook writers can make a decent living selling their books on Amazon. Keep in mind that not all eBooks will sell at the same rate, but finding the right niche and investing time in marketing can make the difference. Romance is the most popular genre of eBooks, followed closely by sci-fi/fantasy and mystery books.
Proofreading or Copyediting
This is another of my favorite side gigs. If you fancy correcting other people’s writing errors, you can consider starting a proofreading side hustle. There are no shortages of potential clients, and the pay rate is also handsome. Businesses, blogs, writers are all in need of proofreaders and are willing to pay for your services.
With your laptop, you can practice Copyediting from anywhere in the world. Also, this gig provides for scalability and flexibility. This means you can build your own business and broker other people’s time for money. Starting a side hustle in this line has proven to have a high return on investment and worth taking if you are serious about earning some extra cash. Thankfully, there are free courses online to get you started on your journey as a proofreader.
Invest in rental properties
Taking an investment in rental properties requires a large initial financial commitment. But over the years, I’ve seen individuals earn considerable well from doing this as a side gig. I have tested the waters on a few occasions, and it’s been positive.
Be that as it may, real estate investments should be considered as a long-term side hustle. While initial gains are possible, the big bucks come over time after your property has accumulated value. Also, buying and renting a home or multi-family units can increase your monthly cash flow, but I recommend you can consider it as part of your retirement planning strategy.
How much you earn from real estate investment is also dependent on location, type of property, and negotiating power. If you consider this, check out BiggerPockets to help you in your decision process. It comes with a rental property calculator to help you decide if a rental is worth the investment.
Work on Fiverr
The Fiverr platform has been around for years, and many have taken advantage of its possibilities. Fiverr is a freelance platform that allows you to do just about anything you demand. If you have a skill that is in demand, then take it to Fiverr.
It offers freelancers the chance to grow their business and make even more money from it. This makes it a perfect side hustle as it checks flexibility, growth, and earning potential. You can set your working hours and rates to suit your schedule.
A visible downside of using this platform is the competition is fierce. You are constantly competing with other freelancers from all over. That said, you get to work with different clients on different projects, which keeps things exciting and fresh.
With individuals, businesses, and brands pushing for more and more online presence, the need for SEO experts will always be there. If you are knowledgeable in this area, you can leverage your skill as a side hustle. As mentioned earlier, everyone online is looking for more traffic or more client, and if you can get them there, you earn handsomely for your efforts.
This side hustle can easily fetch you anywhere between $500 to over $100,000 per gig. It all depends on your client and your ability to deliver. All you require is to understand your client’s end goal and bring that to, and the details are available for free here. You can find SEO gigs online, and you can also write pitches to a potential client. Whichever way, you are sure to make a decent earning from this side hustle.
Run Facebook Ads for Business
As with SEO consulting, digital marketing is another aspect brands, businesses, and individuals look towards. Online competition is fierce, with businesses trying to outshine one another. Running social media ads/campaigns is a side hustle that can earn you megabucks if you have the right skill. It follows similar processing with SEO consulting. You can get gigs from freelance platforms like Fiverr and Upwork.
With numerous social media platforms, you are not restricted to Facebook alone. Twitter, Instagram, Google, TikTok are some platforms brands look to. You can start by reaching out to small businesses in your immediate community and scale up from there. The earning potential of this gig is limitless, and there is a real in-demand for this skill presently.
Sell on Shopify
If you’ve heard the term Shopify and you don’t know what they do, jump in here now. Shopify is an eCommerce giant that allows you to sell products and services online. The platform offers you an end-to-end solution that includes an online store as well as a Point-Of-Sale system. To boost your sales and increase your earnings, it also integrates your website and social media channels. The earning potential on Shopify is only limited by your target market and the time you invest. It remains a scalable side gig and is flexible to work with your schedule.
Thankfully, Shopify isn’t the only way to sell online. A popular eCommerce website is Amazon; others include eBay and Jumia. Amazon has loads of visitors looking to buy products, and you can also use this to increase your earnings. Who says you can’t sell on multiple platforms? These online giants present you with a worldwide market, and if you have the right product, chances are you will make money from this side hustle.
Start Your Podcast
Earlier, I mentioned starting a YouTube channel. While YouTube channel entails using video content to attract an audience, podcasting is the direct opposite. So if you are shy of the camera, you can still make a living with your skills behind the scene.
Today, starting a podcast offers an exciting and financially rewarding venture. As with YouTube channels, you need to grow your audience base to an appreciable number before the megabucks start rolling in. asides making money, you also get to interview and speak to some influential people. You can also look to sponsorship deals to help you make more money.
Podcasts have huge earning potential if you are willing to invest time and effort in them. Data from Bloomberg shows that top podcasts earn in excess of over $1,000,000/ year in revenue. It will take you time to get there but focus on providing value to your audience, and your earnings will grow commensurately.
Social Media Influencer
This is one side hustle that has continued to grow rapidly over the years. When you talk of making millions from a side gig, social media influencing is sure to get you there. Social media Influencers are the new darlings of businesses and brands who are willing to splash money for the posts they upload.
As an influencer, you get to pick any niche you like, ranging from food to sports to makeup and everything in between. The required skill for this is adequate knowledge of how each social media platform works. Another arrow in your quiver will create engaging content, including videos.
The amount of money you make is dependent on how many followers you have and how well they engage with your content. The more followers you have, the more money you’ll make. There is no limit to how much you can earn from this side hustle.
Affiliate marketing ranks high on my list of side hustles with the potential to make you a millionaire in 2022. The potential this side hustle holds is huge, and you can make decent earnings without much investment. All it requires is to build a website or more to attract an audience and attempt to convert them to paying customers.
Depending on the affiliate program you choose, you might not need to make a sale but instead earn a commission from the company offering the affiliate program for each sale they make. Thankfully, there are thousands of affiliate programs available online, and you can also pitch an affiliate idea to local businesses.
Remember that different programs tend to have different rules, and you need to play by those rules. Ensure you understand the rules and don’t run afoul of them. This side hustle is scalable, flexible, and can generate long-term passive income for you.
Having a computer programming skill is a huge source of side gigs on its own. I can’t possibly write out all the gigs affiliated with this skill alone. From web development to UI/UX to cybersecurity, even to the less prestigious black-hat hacking.
While this can be a profitable side hustle, starting this might not be easy. Mobile app development is another section you can look to make extra bucks for yourself. For one, the more advanced your skill sets are, the more you earn. I’m sure you’ve heard of people selling apps for millions of dollars! That can be you too. If you wish to maintain ownership and make money for life with your app, app store and play stores are your surest options.
Cryptocurrency and Forex Trading
I am very skeptical of adding this to the list, but you can’t deny that cryptocurrency has gotten everyone’s attention. At the moment, cryptocurrency and forex trading is the hottest online business, and people are making huge sums from them.
Cryptos are digital currencies that can be bought and traded with. Forex on its own is the trading of currencies online. It generally revolves around the conversion of one currency into another. The amount of currency converted per day can make price movements of other currencies extremely volatile.
As much as you can make money from both, I strongly advise you to exercise caution. This is due to the high risk involved in forex or crypto trading. Many will advise you to trade with an amount you can afford to lose. But in reality, is there any money you can afford to lose? I’ll leave you to ponder on that!
Making money with side hustles has never been this easy. With lots of gigs out there to choose from, all you need is the right skill set. Consider learning if you don’t have a skill or want to start a gig that requires a particular skill set.
Keep in mind that not all side hustles are equal. Do your research, and find what works best for you. Let me know your comments, questions, and opinion in the comment section below!
You may also like to read this article I wrote: How to Make Money Online with Jumia in 2022 [Step-By-Step Guide For Beginners].