- Money Mentor
Top 3 Side Hustles for Making Extra Money in 2023
Updated: Jan 10
THERE IS NO DOUBT THAT MONEY IS GETTING TIGHT IN 2023!
Supply chain problems from the pandemic, multi decade high Inflation across the Globe, and now the War in the Ukraine are all causes of us having to pay more for everything, and taking home less in our monthly pay checks, (if we are still lucky enough to be employed!)
No matter what your current situation, 2023 is showing us that there is a real need for some extra money coming in to help pay the bills.
One of the best and quickest ways of generating some extra money, is by having one or more Side Hustles on the go.
In this article we will show you our Top 3 Money Making Side Hustles for 2023.
1. Create a Blog or Content Website
Creating a blog or content website is still one of the most popular ways of making money online, and once the initial build phase has been completed, and the website is fully populated with quality content, it can even turn into the ideal form on income, that of passive income!
Content websites can earn money in several ways.
Firstly, once you have enough visitors, or traffic, you can join the Google AdSense program, and they will display relevant adverts on your website and within your blogs.
The advert below this paragraph is from AdSense, and should any of your visitors click the add because it interests them, you would earn a small commission each time.
Secondly, blogs and content sites are really great for earning money via Affiliate Marketing. In short, an Affiliate (you) is the middleman between consumers who want to buy products, and businesses who sell those products. By joining the buyers and sellers together via your website, blog, content article or product review, you will be paid a commission for each sale that takes place.
The good news is that there are affiliate opportunities for literally millions of products over thousands of niches, and so no matter what your interests or hobbies are, there will be a way of converting this into affiliate commission income for you.
If you want to learn more about Affiliate Marketing, then take a look at a website called Wealthy Affiliate that provides all the training, website infrastructure, marketing materials and SEO help you will ever need all in one place.
You can even try it out for FREE by clicking here or on the banner below.
Thirdly, and finally for our overview of potential blog and content site income opportunities, is the provision of useful high quality information created by you, and sold on your website to visitors.
Such products could be training courses, one to one mentoring, books, or e-books.
As an example below, our personal finance book for beginners called Master the Art of Money can now be found on Amazon at 50% OFF for a limited period of time.
2. Start a Drop Shipping Store
A Drop Shipping business is somewhere in between an Affiliate program and a full-blown online business. It is more hands on than Affiliate businesses, but less work than running your own online store and inventory.
You can make higher profit margins with a drop shipping store as you are able to set the price to the customer.
The drop shipping store would provide you with a net price to you, for example £10 or $10, and then you could choose to increase that to £15 or $15, making you a 50% profit margin.
You will still need to attract customers to your website to try and convert into sales, but once you have a sale, the order is processed through to the drop shipping company, and they carry out the order fulfillment and delivery to the end customer. Therefore you don’t have to buy or hold any stock, and you don’t get involved with the postage packing and delivery which saves a lot of time and effort.
If you want to find out more about starting a drop shipping store, then take a look at Spocket Dropshipping platform.
3. Start and Monetize a YouTube Channel
Guess what? Right now, thousands of people are thinking of starting a YouTube channel.
My advice to you is, ready or not, don't just think about it; start now.
Successful YouTubers can earn literally millions on YouTube, but lets not get to carried away, this takes time and commitment. That said, many mid tier video makers can still make a good income, and as an additional Side Hustle it can be worth while if you have the time.
One thing is for sure, if you do decide to go down the YouTube money making route, or you already have a YouTube Channel, then you will need some helpful software to make the whole process of keyword research and thumbnail production much quicker and slicker for yourself!
If so you should try Tube Buddy. Take a look at its basic services for FREE here.
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