Three of the Best Side Hustle Ideas for 2021

What Exactly Are Side Hustles?

Side hustles are money making opportunities beyond your normal “day” job. In a different generation, they might have been called side jobs or side gigs.

Traditionally, they have often been things like second jobs or picking up part-time shifts somewhere. However, in the gig economy of the 21st century, side hustles are increasingly freelance based work.

If you’re a freelancer, you know it is an ultra-competitive environment. That’s why it’s important to find and develop your skill set. To do that, you will need to brainstorm about what your skills and interests are.

Side Hustle Ideas Can Come From Anywhere

The good news is it is easier than ever to find and market niche skills you may have. You just need to be creative to identify what you value you can provide that other people will pay you for providing. It really is that simple.

Side hustles might be in your career field or totally different. They can be online or in person, and they can be manual labor, intellectual work, or even passive income streams.

How to Find Your Best Side Hustle Ideas

One of the cool things about side hustles is that almost everyone is, or could become, good at several things. There are several different ways you can go about finding your niche side hustle ideas.

Here are the three most common areas people find success in building profitable side hustles:

  1. Use A Current Skill Set

You might be surprised by the level of demand for a skill set you already have, though you may have to be creative in studying what other similarly positioned people have done to become successful.

Spending some time networking with people with similar skills can help you get a better feel for what opportunities are out there.

Establishing and building relationships with people who have a need for your unique talents is often even more effective.

  1. Develop A New Skill Set

Even if you don’t perceive you have a unique ability to meet someone else’s need, there’s probably something you could learn pretty quickly.

For example, my wife and I have been looking into new flooring recently, and people around here generally charge $2 dollars and $3 dollars a square foot to install it. Installing flooring professionally takes skill, but it is the type of thing you might be able to learn pretty quickly with the right mentoring.

I recently read a story about a woman had an interest in learning about digital marketing. She quickly learned the ropes and began to leverage platforms like Commission Hero Pro and CJ Affiliate to market affiliate products. Her new online skill set quickly paid dividends and she eventually transitioned to online marketing as a full-time business.

  1. Convert A Hobby into A Side Hustle

It’s also possible to turn a hobby into an opportunity to make additional income.

Do you like drones? There is huge demand for the type of work commercially licensed drone pilots can do. In a day on a website like LinkedIn, you might be able find multiple clients whose businesses you can add value to by getting capturing high resolution footage of things like land for sale.

Building The Perfect Side Business

Whether you have side hustle ideas or you plan to develop your side business ideas into something more formal, all it takes is time and effort. Start small and build relationships with people who can help you market and sell your unique products and/or skills.

Who knows? Eventually, your side hustle may end up replacing your “day job” as your main source of income. Even if you’re just saving up for something like buying a new car, side hustles can be a lucrative way to get there.

How to Budget for a New Car from the Car Dealer

A Trip to the Car Dealer

To most people, new cars smell terrific. Used cars often have a smell all their own, but not too many people find it to be pleasant.

How much would you pay for that new car smell? I’ve paid more than I should more than once. I owned no less than three new vehicles within seven model years. I even bought one of those after I got married.

My wife helped change my perspective on vehicles, though. And I’ll share some of the pros and cons of used vehicles with you to hopefully help you make decisions that will keep you on track to achieve financial freedom and retire early.

Reasons to Buy a New Car

For me, new cars were not about status. I bought three new vehicles between 2008 and 2014, but the most I paid for any of them was the $16,300 we paid for a 2014 Honda Civic.

My reason for buying new cars was dependability. Each of the vehicles I bought came with a pretty substantial warranty. With that peace of mind, I could accurately predict what the total cost of ownership of my vehicle would be while it was under warranty.

The folks in the finance office also talked me into an extended “service plan” on two of the vehicles. In theory, this extended a large part of my coverage all the way to 100,000 miles. But we’ll talk about the folly of those decisions later.

How to Buy a New Vehicle from the Car Dealer

If you must get a new car, I would probably recommend you do what I did. First, I bought the most basic model in one of the most common colors. Bells and whistles on vehicles can be convenient, but they’re not necessary. And they are expensive on new cars. And you’re the one paying the full undepreciated price on the new vehicle.

Second, I bought the outgoing model year’s vehicle all three times. For example, in 2014, the 2015 Civics were out. There were still 2014 Civics available at substantially lower prices, though. You may lose a little resale value that way, but that can be lessened by holding onto the vehicle a long time.

Finally, do as much research as you can on the vehicles you might be interested in, and think about all of the costs. Sites like cars.com are great for establishing a baseline.

This is also applicable for buying used cars, and it is what eventually moved me to buying used cars for good.

Budget for All the Costs of the Car

Each vehicle has a sale price. In most states, there is also an initial sales tax, which is based on the sales price. The more expensive the vehicle, the more expensive the sales tax. In my state, as in many states, there is also an annual personal property tax assessed on your vehicle. Again, the more expensive the vehicle and the newer the vehicle, generally speaking, the more expensive the personal property tax.

You are required by law to carry insurance for your vehicle. There are exceptions, but generally speaking, the more expensive the vehicle, the more expensive the insurance.

You also have costs associated with each mile you drive. The most obvious of these costs is fuel. Of course, more fuel efficient vehicles end up costing less per mile to operate than less fuel efficient vehicles.

Consider Buying Fuel Efficient Vehicles

If you have several children or a job that requires lots of equipment, a compact car that maximizes fuel efficiency might not work for you. But all other costs being equal, it makes sense to buy the most fuel efficient vehicle you can. If fuel prices go up, you’ll only save more money, or at least spend less.

Remember Maintenance and Repair Costs

One more cost worth considering is the cost of maintenance and repairs for the vehicle after purchasing from the car dealer. This cost was my main reason for buying new cars before I got married. I wanted my costs in this area to be fixed.

All these costs might make you want to consider side hustle ideas, because new buying new cars from dealerships is not cheap!