It’s a new month which means that I’ve got another side hustle report for you guys. Those of you who have been following along with these reports know that each month I document what I made doing various side hustles in the sharing economy. The great thing is that these side hustles allow me to earn income off of the resources I already own. These side hustles also don’t take up very much of my time and have minimal to no startup costs.
And the thing that doesn’t get mentioned enough. Unlike with starting up most businesses, side hustles like these allow me to start making money literally from day one! There aren’t very many side businesses you can start up where you can make money right away with almost no startup costs and very little risk.
If you need to earn a little bit of extra income, I don’t think it’s ever been easier than it is today. We’re in the golden age of side hustling. Imagine what an extra $500 or $1,000 per month could do for you.
When it comes to side hustling, I have four main sources of income:
- Renting out a spare guest room on Airbnb
- Dogsitting using DogVacay or Rover
- Making deliveries using Postmates, Doordash, and Uber Eats
- Selling trash finds using Craigslist or OfferUp
Side Hustle Income for February 2017
I calculate side hustle income based on the payout date. Accordingly, if I perform a side hustle in January, but get paid for it in February, I count February as the date the income was earned.
For February, my side hustle income was as follows:
- Airbnb: $471
- DogVacay/Rover: $148.75
- Postmates/DoorDash/Uber Eats: $151.51
- Selling Trash Finds: $5
- Jobspotter: $24.07
Total Side Hustle Income for February 2017 = $800.33
The side hustle income remains steady even though we’re still fighting through the winter months. The glaring weak spot, as you can probably see, was trash income, which was basically non-existent. It’s not for lack of inventory. I actually still have a garage filled with all of our finds from last August. I just haven’t been motivating myself to get all that stuff listed up, but I do plan to hustle a bit more on the trash front next month. We need to clear out our garage anyway because it’s starting to get overwhelming.
Here’s a more detailed breakdown of that income:
Airbnb Income: $471
Airbnb continues to remain steady throughout the winter months. We ended up booking 12 nights for February, which isn’t too bad considering it’s winter time and the demand is pretty low. We also had family coming into town in the last week of February, which required us to block off those dates.
Our guests for the month were primarily folks coming into town for interviews, conferences, or to visit their kids on campus. My favorite guest was definitely an IT guy who was in town for work. His company gives him a per diem to pay for hotels, and wisely, he opts to go for more affordable Airbnb accommodations, allowing him to pocket the remaining cash. It’s a smart move, and something I’d do as well if I were in his position. I’d totally be friends with this guy in real life if I just met him in the street.
One key thing I do to help keep my occupancy up during slow times and maximize my revenue is to make use of pricing apps. I use an app called Beyond Pricing which monitors the local demand for hotels and Airbnb’s in my area, then adjusts the price accordingly. The app has been consistently lowering my rates for the winter in order to help me attract more guests. It’s similar to the way hotels adjust their prices.
In exchange, Beyond Pricing charges me a 1% fee based on what I booked that month. So, if I book $1,000 worth of stays for the month, Beyond Pricing charges me $10. The price is worth it since I’m usually able to either charge someone more during high demand periods or get a booking that I otherwise might not have gotten if I had just stuck with a static price.
If you’re an Airbnb host, I’d highly recommend using Beyond Pricing in order to optimize your pricing. If you use my link, you get your first month free.
And if you haven’t already, why not try your hand at being an Airbnb host? I think it’s worth trying out to at least see if it’s something you could do. It’s a pretty low-risk way to try your hand at being a landlord.
DogVacay and Rover Income: $148.75
Rover continues to do nothing for me in 2017. For whatever reason, my listing is buried behind a million other listings and it’s basically a neverending cycle. As I get fewer bookings on Rover, my listing continues to drop more and more. At this point, either a lot of people aren’t using Rover in my city or I’m basically now invisible on that platform.
Luckily, DogVacay continues to bring me a steady stream of dogsitting clients. This is exactly why platform stacking is so important. If one platform starts struggling, you can make up for it on another platform.
My puppy guests for this month included a repeat guest and a new pup. Both pups were a little bit bigger than what we usually watch and a bit more of a handful than usual. Here’s our repeat guest, who stayed with us during Super Bowl weekend. She’s a good pup – just way more energetic than Financial Pup.
The other pup we had was a new pup with some definite anxiety problems. She was great while we were around. But, when we left the house she would just scream at us (she stayed in a kennel when we left the house). Luckily, we didn’t have any guests with us during that time, but I’ll have to note to myself that we cannot watch this pup if we have Airbnb guests staying with us.
While this pup was here, we did have some freakish 50-degree weather in the Twin Cities. This led us to take a 4-hour walk all around the city. We got some nice pictures as well.
Ms. FP also managed to snag this crazy good picture of the Minneapolis skyline. This was done with a regular iPhone 6. No special camera or anything.
If you love playing with pups in your spare time, then why not try your hand at dogsitting? Consider signing up to be a sitter on Rover. Don’t forget to sign up to be a sitter on DogVacay as well.
Postmates/DoorDash/Uber Eats Income: $151.51
This income should really be more like $50, but I managed to snag a referral bonus through Uber Eats. I don’t think it came from this blog, though.
About a month ago, I posted up a referral link on a pretty large Facebook group for Postmates, explaining that Uber Eats was offering a $100 referral bonus if you did 10 deliveries. I thought that the bonus was worthwhile given how easy it was to do, so I wrote up a little post for the group explaining how simple it was to do and why people should consider it. I didn’t just post up my referral link – there was a value add because I did write a pretty lengthy rationale as to why it would be worth the time to use my referral link.
Naturally, the hate came in. I even offered to split my referral bonus with anyone who wanted to do it. I think one key difference between people who do well with money and those who don’t is the ability to see when there are opportunities to make money. Here I am, approaching a group that is already doing deliveries and constantly complaining about not making enough money, and yet, when I explain a way to make more money doing the same thing, I’m basically met with negativity.
Oh well. After posting my referral link, I guess someone reported me and I was kicked out of the group. One person did take me up on my offer and I managed to make $100 as a referral bonus.
I’ve been getting a ton of emails from Uber stating that they’re giving a $100 bonus to anyone who signs up with my link and completes 10 deliveries. Note that your mileage may vary, as I don’t know if they’re offering the same bonus in every city. Feel free to contact me if you have any questions.
Trash Income: $5
It was a shameful trash income month (has anyone ever heard someone talk about a shameful trash month?). I have a ton of inventory, but I just haven’t been moving it. The lone sale for the month was a crappy nightstand that we’ve had listed for a long time now. I’ve started getting back into listing more of our trash finds, so March should hopefully be a better month.
Related: Making Over $1000 Selling Trash Finds Found In One Dumpster
Jobspotter Income: $24.07
Jobspotter has quickly become one of my go-to apps. I wrote about my experience with this app in a previous post.
I really never knew how many hiring signs there were out there. And it’s not like I go around looking for them. I think one of the benefits of using a bike and your own two feet to get around is that you can actually see these type of things. If you’re doing everything with a car, you’ll probably never see a hiring sign.
In any event, making 24 bucks doing basically nothing isn’t so bad. It’s enough to cover an HBO subscription with some change left over. I don’t know if I can continue to make this level of income with Jobspotter, but I do think 10 bucks a month isn’t crazy.
And that concludes this month’s side hustle report. February was another slow month, but it’s still pretty interesting that I can make $800 without doing a ton outside of what I already like to do. An extra $500 or $1,000 per month might not seem like all that much. But add it all up and that could easily be $10,000 of extra income for the year. Imagine what you could do with a $10,000 raise.
Be sure to check out my side hustle report page if you’re interested in seeing what I’ve made in other months. And to make it easier, here are some links to my recent side hustle reports right below! Enjoy!
January 2017 Side Hustle Report – $806.84
December 2016 Side Hustle Report – $704.43
November 2016 Side Hustle Report – $1,221.67
More Recommended Ebike/Scooters
Check out these other ebikes/scooters I've had the chance to do a review for:
- GEN3 Outcross Bike – The GEN3 Outcross is a solid, affordable fat tire ebike that does a good job of doing what I need it to do. It works great for city riding, giving me a smooth ride in all conditions. It’s works really well as a winter ebike since the fat tires give it good traction over snow and ice. Check out my GEN3 Outcross Review.
- Himiway Escape Bike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
- Espin Sport Bike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
- Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
- Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.
More Recommended Investing App Bonuses
For additional investing app bonuses, be sure to check out the ones below:
- M1 Finance ($50) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $50 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
- SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with $100 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
- Moomoo (5 free stocks) – Moomoo is a free investing app currently offering 5 free stocks (usually worth around $75-$100) if you open an account using a referral link and deposit $2,000. Read my Moomoo referral bonus guide for more information.
- Webull (5 free stocks) – Webull also gives you 5 free stock valued between $3-$3,000 each if you open an account using my referral link. Here’s a guide I wrote about how to earn your free stocks using Webull.
- Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
- Public (1 free stock) - Public gives you a free stock valued between $3-$70 if you open an account using my referral link.
More Recommended Bank Account Bonuses
If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.
- Chime ($100) - Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
- SoFi Money ($25) - SoFi Money is a free checking account from SoFi. They’re currently a $25 referral bonus if you open a SoFi Money account with a referral link. This is a good bank that is also 100% free, so you won’t have to worry about managing this account. Here’s a post I wrote with instructions on how to earn your SoFi Money bonus: SoFi Money Referral Bonus: Step By Step Guide.
- Brex ($250) – Brex is a free business cash management account that is offering new users a $250 Amazon gift card if you sign up using a referral link and meet certain requirements. It’s an easy bonus to earn and well worth doing. Here is my Brex Card Referral Bonus Step By Step Guide.
- Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link.Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
- Spiral ($50) – Spiral is a fintech bank that's currently offering new customers a $50 signup bonus after opening a free checking account with them. The Spiral referral bonus is especially good because it's a free checking account and doesn't require a direct deposit to earn the bonus. Here is my step-by-step guide on how to earn your Spiral Bank bonus.
- Nearside ($90) - Nearside is a free business checking account that’s currently offering a $40 signup bonus and a $50 referral bonus if you open a Nearside business checking account using a referral link. Filling out the application should only take you a few minutes. And the bonus terms are easy to meet. Check out my Nearside signup and referral bonus guide here.
- OnJuno ($100) – OnJuno is a fintech/neobank that is currently offering a $100 referral bonus if you open an account using a referral link and complete a direct deposit of $250 or more. The account has no fees or minimum balance requirements. Even better, the bonus posts immediately after you meet the requirements. If you can meet the direct deposit requirements, OnJuno is an easy bank bonus that’s worth snagging. Check out my OnJuno referral bonus guide here.
- Fairwinds Credit Union ($100) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
- Albert ($150) – If you can manage to do a real direct deposit, Albert is an easy account you can use to earn a referral bonus. Here’s a review about Albert I wrote. And here’s a step-by-step guide on how to earn your Albert referral bonus.
- Fifth Third Bank ($350) – Fifth Third Bank is currently offering new customers a $350 signup bonus after opening a new account and meeting certain requirements. This offer is limited to customers in the following states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee, West Virginia, and South Carolina. If you live or visit one of these states, make sure to take advantage of this high bonus. Check out my post on Fifth Third Bank to learn more.
- Varo ($50) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $50 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.
- One Finance ($50) – One Finance is a fintech bank that’s currently offering a $50 signup bonus if you open an account using a One Finance referral link and have a direct deposit of $250 or more. This is a completely free bank account with no minimum balance requirement, so if you can meet the requirements, it’s worth doing. Check out my One Finance referral bonus guide here.
- Netspend ($20 + 5% Interest Savings Account) – Netspend is a company that provides 5% interest savings accounts. If you sign up using my referral link, you’ll get a $20 signup bonus once you make your first deposit into your Netspend account of $40 or more. That means you get a 5% interest savings account and a free $20 to start! Make sure to check out my in-depth guide on how to set up these accounts.
Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.
Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.
Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:
- Personal Capital. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.
- SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link.
- Brex. Brex is a free business cash management account that is currently offering new users a $250 Amazon gift card if you sign up using a referral link and meet certain requirements.
- M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $50 for opening an account.
- Albert. A great free app I use to track my finances and save more money. You can also earn a $150 signup bonus if you open a free Albert cash account.
Feel free to send Kevin a message here.
Nice job on the AirBNB! Pretty cool that you are able to continue capitalizing on renting out your extra space. As other readers have mentioned, I’m still hesitant on doing this, mostly for convenience. I sometimes end up having to travel for a weekend at the last minute and having to have plans set out in advance for rentals would make it tough unless I have some help in case something happens.
Keep it up!
Thanks! Airbnb definitely isn’t for everyone but it’s a really interesting way to monetize the home that you already live in. Obviously, schedules don’t work well for everyone. One thought is to try it out a few times just to see what it’s like. The great thing is, if you rent out your space for 14 days or less, you get all of that income tax-free! It’s one of the few totally tax free pieces of income out there. And I think almost all of us could deal with a stranger in our house for 14 days over the course of a year.
Well done, Panther. An extra $800 or so is nothing to scoff at! How are you allocating your extra income? Does it go straight to your retirement fund, or do you allow yourself to live large with the bonus money?
Good question. The interesting thing is how this side hustle income gets classified. “Active” income (such as dog sitting and deliveries are subject to self-employment taxes, which means I throw as much of that income as I can into a Solo 401k). “Passive” income, such as Airbnb, isn’t subject to self-employment tax, which, unfortunately, means I can’t throw it into any tax-advantaged account since I already max out all of my accounts with my day-job income. For now, the Airbnb income is sitting in savings and is being used as the house emergency fund.
I’m always surprised that more people don’t take advantage of AirBnB for earning some extra cash. I know lots of people have extra space! It looks AirBnB and Beyond Pricing are working great for you. -Aaron
PS: Watch out for duplicate text in your posts (e.g. search for “In exchange, Beyond Pricing”)
Thanks Aaron for the heads up. I’ve been trying this app out – Grammarly – and it keeps doing a weird double paragraph thing when I edit. I thought I had fixed that problem but I guess not.
Congrats! You’re killing it and I love that you have diverse income streams. I actually signed up to use Door Dash after reading about it on your blog (as an eater, not a deliverer haha) but it’s been really cool to use. I like knowing that I technically could leave my 9-5 and be scrappy and make ends meet with all of these different services (rover, door dash, airbnb, etc.). I’m very, very tempted.
It totally feels like a worst case scenario back up if worst came to worst! One good thing about doing these type of gigs is that it really keeps you humble.
” I did write a pretty lengthy rationale as to why it would be worth the time to use my referral link.
Naturally, the hate came in.”
Yeah, it’s tricky to do self-promotion in forums. Even if it’s valuable and helpful to other people and it’s free. People immediately get their torches and pitchforks out because their brain cells are screaming “scam! This person wants something from me!”
But I’m glad at least one person took you up on that offer!
Good job on this month’s side hustle income! Looks like it’s pretty consistent from month to month, so definitely a great inspiration to people who want to make a side income.
One thing about a group like Postmates is that the level of discourse in there isn’t very high. There aren’t a lot of lawyers doing these type of gigs.
The interesting thing about these side hustles are that they don’t take a ton of my time. I’m basically monetizing stuff I already have to do anyway (i.e. Cleaning my house, walking my dog, exercising). It’s micropreneurship at its finest.
One thing no one can accuse you of is being lazy! My gosh you’re hustling and then some. I like that you’re using multiple platforms and backup platforms. Congrats on earning some serious extra dough!
Thanks Mrs. Groovy! You know these type of gigs are pretty darn good for the retired folks too. Basically just make a little extra income whenever you feel like it.
Nice work. Seems like you’re pretty consistently making around $1k per month which is some nice extra cash. The Beyond Pricing app seems well worth the money for your Airbnb listing. Keep hustling!
Thanks man!