You’re probably familiar with the term “side hustle stacking.” It’s basically when someone combines different side hustles to boost their earning potential.
Platforms like YouTube and TikTok have made such stacking more popular in recent years. But even if you don’t have a big social media following and don’t want one, there are plenty of ways to stack your own side hustles to boost your income.
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Here’s a look at some expert-backed ideas to create a side hustle stack that brings in more than $5,000 a month.
Figure Out What Side Gigs Work for You
When it comes to starting your own side hustle stacking, one approach is to decide what you want to try first that fits within your schedule.
“Ideally, you start with a side gig that has regular hours,” said Melanie Musson, a finance expert with Clearsurance.com. “For example, you mow lawns in the evening. Then, add a side gig that you can do on weekends, like photography. Then, add a couple of side gigs that you can do on your own time, like food delivery or rideshare driving.”
Seek Out Diversity in Your Gigs
Here’s more on how that may play out. In the summer, you could easily make mowing lawns a full-time side gig, but if you want to continue with a steady side gig income year-round, you need to continue to diversify what you offer instead of going all in on seasonal jobs.
According to Musson, If you mow two yards an evening, you can earn $500 a week. If you’re good at photography and do one wedding a weekend, you can earn $1,000. Once you add driving, you can earn an additional $200 or more per week, she added.
Find Your Best Mix
Andrew Lokenauth, founder of the blog Fluent in Finance, also suggested trying to find a side hustle mix that involves skills you already have or are interested in learning.
“It may involve a freelance skill, such as bookkeeping, virtual assistant work or social media management, paired with one digital product or affiliate income stream, paired with a few hours a week of local gig work like tutoring or pet sitting,” he noted.
According to Lokenauth, the key isn’t grinding harder. It’s picking hustles that don’t fight each other for your time and share an audience or a skill set.
“Someone managing social media for three small businesses at $500 a month each is already at $1,500 with maybe five hours of work a week,” he said. “Add a digital product, like a template, a guide or a small course, selling on autopilot for another $1,000 to $1,500, plus a couple of freelance writing gigs, and $5,000 starts looking realistic within six to 12 months, not years.”
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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