If you want to make some extra cash this summer for a long overdue vacation, it makes sense to invest in some business opportunities.
Although you could focus on stocks, bonds, or certificates, the income from those investments would get taxed at a high rate. You must hold onto those products for at least 12 months to reduce your liabilities.
That’s why your money should get directed toward small business opportunities that you can operate. Here are some of the best ideas out there right now to get that side hustle working.
List of Today’s Best Side Hustles
With kids trying to manage virtual schooling while parents work full-time to keep food on the table, the 2020-2021 school year is challenging. If you can work as a tutor in foreign languages, science, math, or reading, you can earn up to $50 per hour on some platforms.
If you have a qualifying vehicle, you can earn some cash by being a Lyft or an Uber driver. You’ll need proof of insurance, a valid license, and at least one year’s verifiable experience to start earning some money. How much you can earn depends on your location and the times you can work.
3. Real Estate Investing
The one investment opportunity to consider for extra income is real estate. Although renting is problematic with the eviction moratoriums in place, it can be lucrative if you know how to flip houses.
4. RV Rentals
If you have an RV at home that doesn’t get used much, you can turn it into an investment option. When people want a comfortable camping experience, they can rent your vehicle to enjoy their time in your community. You’ll need to protect yourself with contracts, security deposits, and other solutions, but it could net you enough to make the vehicle payments.
Additional options to look at include pet sitting, dog walking, blog writing, and building affiliate websites.