Drowning in Debt? 12 Side Gigs That Can Help You Pay Off $10K This Year

When you live with heavy debt hanging around your neck, it’s hard to think about long-term financial goals like retirement or, buying a home or helping your kids with college. You see only the debt.

Fortunately, in today’s world, you have infinite options to pick up extra work on the side to knock out debt. Options beyond the obvious “drive for Uber or Lyft.”

What do you think I’m doing right now?

If you know the difference between active and passive voice — and can mostly stick to the former — you can learn the rest as you go. It helps to be a subject matter expert, but it’s not a necessity.

Start building a portfolio by offering to write for free for a few niche blogs in the beginning. Network with content creators in your preferred industry, and start asking if they need help with additional content. It really is that simple.

With a website, you can earn money in countless ways.

On the simplest level, you can generate revenue from ads. Check out Mediavine as a strong ad-sourcing partner.

You can also earn money through affiliate partnerships. You refer visitors to quality products or services, and those companies pay you for leads or sales. For example, my own business teaches people how to invest in real estate, so we refer our audience to lenders specializing in investor loans. GOBankingRates refers people to reputable financial services. For every niche, other businesses that serve your audience will happily pay you for referrals.

And, of course, you can sell your own products or services. From physical products to digital ones, online courses to membership websites and beyond, get creative to offer something that other people need or want.

Love social media? Businesses need your help. Many hate social media, and happily pay someone else to handle their social media marketing.

Social media managers typically create and schedule posts, moderate Facebook groups or forums, and engage with both audience members and other businesses in the space.

If you have a sharp eye for photography, strengthen it with a class or two, then hang your proverbial shingle.

It helps to specialize in one type of photography. That could mean wedding photography, or family and baby portraits, or professional headshots, or real estate photography.

Depending on your specialty, consider buying (or borrowing) a professional-grade drone for aerial shots. For instance, high-end real estate listings often feature aerial photography of the home and land.

Most business owners don’t have the skill to design their own logos or graphics, or create a website.

So? Offer to do it for them.

You can start on freelance platforms like Upwork and Fiverr, but beware that you’ll be one among thousands of designers all vying for clients. To make better money, aim to build your own book of business locally or by networking within a specific industry.

Again, businesses need clean books, but many entrepreneurs either don’t have the skill or the time to keep them.

If you have a mind for numbers and order, consider offering freelance bookkeeping services. Like most service businesses, it helps to specialize in a niche or industry, to separate yourself from the pack.

Bookkeeping offers yet another side gig you can do from anywhere in the world, on your own schedule.

It may not feel glamorous, but caring for people’s grounds and building exteriors can prove far more lucrative than you’d assume.

Sure, that includes mowing lawns. But it could also include skilled landscaping, gardening, powerwashing buildings, and other outdoor maintenance. The higher the skill involved, the more you can charge.And you aren’t limited to homes around your neighborhood either. Local businesses need these services too — and often pay far higher sums for them.

If you love sports, why not get paid to referee local games or coach local teams?

Both children’s and adult sports leagues need referees. Schools and community sports teams need coaches.

Don’t expect astronomical paychecks, but you can expect to have fun outside, surrounded by other people who love the game as much as you do.

In college, I earned extra money tutoring other students in calculus and psychology. 

My mother tutors to this day, and charges far more than I ever could in college. Skilled tutors can charge up to $80 per hour, or even more for niche services. 

It doesn’t hurt to have a background in education, but it’s not necessary. Start networking with local schools, teachers, and parent organizations to build a client base. 

If you have training in a musical instrument or singing, why not pass it along?

You can earn a high hourly rate, in a field you (hopefully) still feel passionate about.

Flipping houses is a lot harder than they make it look on TV. But it can also pay well — if you know what you’re doing.

To succeed, you need to combine many micro-skills. You must find good deals on properties, hire and manage contractors effectively (the hardest part in my experience), stick to a timetable, and accurately forecast expenses and the after-repair value (ARV). 

Get all that right, and you can earn far more than $10,000 on a single house flip. 

Note that if you like doing the work yourself, you could always do a live-in flip where you do the work on nights and weekends over the course of a year or two. In fact, if you live in the property for at least two years, you avoid up to $250,000 in capital gains taxes through the Section 121 exclusion ($500,000 for married couples). 

When I bought my first home, I rented out a bedroom to a housemate. Her rent covered three-quarters of my mortgage.

My business partner has rented out storage and garage space. I’ve also known friends who rented out accessory dwelling units (ADUs), either to long-term renters or on Airbnb.

My cousin rented out her entire home on Airbnb, and just crashed with her fiance whenever someone booked it. It covered her entire rent and then some, even if she only rented it for a fraction of each month.

A word to the wise: the first step to climbing out of a hole is to stop digging. Lock your credit cards in a drawer. Remove your saved credit cards from online shopping portals. Delete food delivery apps from your phone.

Use only the funds in your checking account until you’ve escaped the pit of debt. Otherwise, you can quickly find yourself outspending your additional income, which defeats the entire purpose of picking up a side hustle in the first place.