Sometimes it's tough to juggle monthly bills, debt repayment, regular savings and contributions to investment accounts for things like retirement.
Cutting costs and utilizing the savings to meet your financial goals is a great idea. But eventually, you'll run out of expenses to eliminate. When you reach that point, what's next? Side hustles.
An ideal side hustle will combine something you're good at, something you love to do and something that other people want to pay to have you do for them. You probably have interests or hobbies you would love to get paid to do. Convincing someone to pay you for that work is the tough part.
We've done the hard work for you by developing this list of three side hustles that will have people lining up at your door to pay you for.
1. Creating Websites and Coding
If you have a love for tech, consider building websites or writing code. This is a skill not everyone has or even understands, and many people don't have the patience to learn it. That leaves a big gap in a market where nearly every business requires a professional-looking website. If you know how to build things online, this could be lucrative.
And if you don't know how to code, you can teach yourself -- for free -- with resources like Codecademy. Wordpress is also a popular content management system to learn.
2. Taking Photos
It may be difficult to break into certain photography niches -- like weddings -- that require hefty portfolios and lots of experience. But if you have a dSLR and know how to use it, you can work as a photog. People want to hire someone who knows how to use a fancy camera for everyday things.
The web is a highly visual place, and high-quality images are required for any digital presence. Young professionals are booking photo sessions for things as simple as social media profile photos, and bloggers increasingly need more than stock images to go with their content to (visually) keep up with their competition. And with the influence of sites like Pinterest, families want professional-style photos for birthday parties, reunions and other occasions.
3. Helping Others in Your Community
We're all busy, but some of your neighbors -- and nearby people you don't know -- may be swamped with more jobs to do than they can handle:
- Landscaping or yard work.
- Babysitting or nannying.
- Cleaning houses or washing cars.
- Running errands.
For more ideas, join a site like TaskRabbit. Usually anyone can handle these tasks -- but many people don't want to. They're tired from work, parenting and other responsibilities, and they would rather pay for the convenience of outsourcing them.
Sophia Bera is a virtual financial planner for millennials and the founder of Gen Y Planning. She is location-independent but calls Minneapolis "home." Do you want to be better with your money than 90 percent of your friends? Then sign up for the free Gen Y Planning newsletter.