Side hustles are rising in popularity amongst young Filipino workers. Part-time jobs, freelancing projects, or even contractual tasks all fall under this. There’s no specific boundary between what can be considered a primary job or a side hustle. Generally the latter refers to activities that augment your monthly income.
How can side hustles help you reach financial goals?
Many consider cutting down expenses first in order to help uplift their financial situation. However, cutting down costs can only get you so far. Increasing your income through side hustles will be a big help since it will help you have more options. More options for needs, and of course the capability to save and invest more. Of course, just ensure your unnecessary expenses don’t rise alongside your income.
Popular side hustles among Filipinos
It might seem hard to look for side hustles at first, but you’ll quickly find out that there are a lot of opportunities available. You just need to assess what you can offer, and start looking. Here are some popular side hustles:
- Freelancing: Freelancing by far is one of the most popular side hustles among Filipinos. Freelancers are considered self-employed workers. They don’t have long-term commitments to any single employer. You basically offer certain skills to clients who have certain short-term needs. Whether if its creating graphics, excel sheet templates, or even digital marketing for a campaign, you’ll find that there are a lot of people or businesses willing to pay for such services.
- Buy and sell: This one is a straightforward side hustle. If you’re good at looking for bargain deals, this could be a solid opportunity for you. With the rise of e-commerce, many have started buying different items. From watches to sneakers, all you have to do is be knowledgeable enough about the ongoing rates people pay for these items and try to source them through bargains.
- Ridesharing/Deliveries: As more and more people procure services from Grab, Foodpanda, and the like, ridesharing and making deliveries has become a common side gig. Usually, these apps work by letting riders or drivers set when they want to accept passengers or deliveries. If you’re fond of just driving around or riding a motorcycle, this might be a fun one for you to try.
- Small business: A small business can be complicated, but it also has the capacity to become a passive source of income. You can start selling pastries, run a shoe-cleaning service, or even become a distributor of certain goods. Just keep in mind that this could be time-consuming. You would also need capital to get started.
- Content creation: Most think that you need to have a huge following to make money creating content. While you do need to gain traction, you don’t need millions watching you to make money. Once you reach a certain milestone, you can already start earning from your content through affiliate marketing. 1,000 followers is usually a good milestone to start earning from content. It’s easier said than done but is very much achievable.
Last words
All of these side hustles can make a big impact on your finances. However, make sure to find one that you can enjoy. Working a full-time job while doing a side hustle that you don’t enjoy can easily burn you out. As always, look for something that still helps you maintain balance in your life. Of course, it also helps to find like-minded people who you can talk with. Make sure to check out Investment and Money Tips Philippines if you want to look for ideas or thoughts on different side hustles!
Lastly, make sure to invest a portion of your money along the way. The end goal should always be to make your money work for you.
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