I’m a big fan of side hustles because I see them as one of the few ways to escape the rat race and reach financial independence, but not all of them are worth your time.
In many cases, you will earn more by working overtime at your job.
1. Multi-level marketing (MLM)
MLMs often require you to purchase products up front and hire others, with the vast majority of participants losing money rather than making it. These companies promise big profits if you sell their products and build a team under your leadership. However, the truth is that most people end up spending more on products and fees than they ever earn.
You are usually pressured to buy inventory, attend expensive training courses, and constantly recruit new members. Commissions are often small unless you can build a large downline, which is really difficult.
Many people find themselves stuck with products they can’t sell, strained relationships due to trying to recruit friends and family, and a lot of wasted time. Ultimately, MLMs can be more of a financial burden than a profitable side hustle, making them not worth it for most people.
2. Selling crafts
Selling crafts may seem like a great side gig, but it’s hard to make good money. People are used to low prices, and often don’t pay enough to cover your time and materials.
Handmade items are sold on sites like Etsy for extremely low prices, sometimes as low as $5. It’s hard to compete with that, especially when you consider the hours you spend making something.
Personal example: My sister-in-law used to make and sell handbags. Once one of her designs became popular, knock-offs began to appear at much lower prices, often mis-advertised as handmade.
This competition, especially from mass-produced goods, makes it really difficult to earn a fair wage selling crafts.
3. Amazon Turkish Mechanic
MTurk, it may seem like a good deal at first – make money by doing simple tasks online. But let’s be realistic about what that looks like.
You could spend hours doing tasks that only pay a few cents each. It’s like you’re being offered financial compensation for professional-level work, and sometimes, your work may be rejected.
Just imagine being asked to draw the outline of a complex picture for just 2 cents, and you have to get every detail perfect. Or copy a very long receipt containing dozens of items for just 3 cents.
IMO you would be better off doing surveys. Maybe you’ll make $50 a month spending your free time on it.
4. YouTube
Are you jumping into YouTube with the goal of making quick money? Think again. It’s a huge waste of time, we’re talking about spending hundreds of hours creating content. And let’s be real, it can be downright exhausting.
The thing about YouTube is that you need to build an audience before you start making money. You need to have at least 1,000 subscribers and watch 4,000 hours of your videos.
For many, by the time they achieve these goals, the fun is long gone, replaced by the grind. And what will you get when you finally start earning? Maybe a whopping $0.05 a day.
My opinion? If you’re going to use YouTube, start it as a hobby and make it fun. Don’t count on him for serious money unless it’s a significant amount unless he actually succeeds.
Even then, achieving more than you put into it is a pretty big “if.”
5. Writing
Unless you have specialized knowledge that allows you to charge large sums of money (think $200 or more for a 1,000-word article), you’re in a tough spot.
The market is incredibly competitive, and without a unique angle or experience, it’s hard to stand out.
Nowadays, there are ChatGPT and offshore writers who can afford to work for much less.
If someone can live on a monthly salary of $200-$300, they can afford to write an article a day for $10 and cover their expenses, working comfortably from home.
6. Blogging
Blogging, especially with the goal of earning money through Google Ads, is a difficult task. I’ve created a couple of websites myself, including a blog that generates some passive income, so I’ve seen first-hand what it’s like.
When I first tried it, I quickly realized that the competition was huge. You encounter countless others around the world, many of whom are willing to do a lot of work for relatively little pay.
Let me clear up a common misconception: The idea that you can just build a site, do SEO, and then sit back passively collecting ad revenue is far from the truth.
Keeping your site ranked high in search results and maintaining traffic takes consistent work. It’s not just a set-it-and-forget-it deal.
7. Own a bar
Are you thinking about opening a bar? Sure the idea sounds great and the money can be good, but let’s talk about reality. I’ve been there, done that, and let me tell you, it’s not all about cheers and high profits.
Running a bar is a whole different ball game. It’s not just about serving drinks and having a good time.
You have to deal with all kinds of challenges – late nights, managing staff, dealing with difficult customers, and let’s not forget the constant maintenance and compliance with regulations.
And while income may look great on paper, stress and a never-ending to-do list can take a toll on you.
8. Uber
It’s not as simple as it seems.
Often times, you end up working late at night or at times when you are more likely to have difficult passengers, such as people who may be drunk and could get sick in your car.
9. Private lessons
It often takes longer than you think. For every one-hour session with a student, you’re actually spending more than two hours of work. This includes finding students, coordinating schedules, and traveling to meet them.
There are pressures of managing an irregular schedule. If you can organize several sessions one after another, it may be worth it.
But this rarely happens.
10. Dropshipping
The truth is that you are likely to lose money, especially when you are starting out.
Main cost? propaganda.
Many people end up spending hundreds on Facebook ads, in an attempt to increase sales to their dropshipping store.
But more often than not, sales don’t cover advertising costs, leaving you out of pocket.
11. Retail arbitrage
Breaking into this field today is harder than it used to be, especially if you’re starting from scratch.
The main difficulty? Building relationships with retail stores.
Without these links, obtaining items profitable to flip becomes nearly impossible.
12. Mystery shopping
The pay is often low when considering time, travel and reporting requirements, making it not worth the effort. Mystery shopping involves visiting stores or restaurants, acting like a regular customer, and then reporting your experience. Although it may sound like fun, the truth is that these gigs usually pay very little for the amount of work required.
You will often have to spend time traveling to the site, making detailed observations and writing comprehensive reports afterwards. Sometimes, you may have to purchase items out of pocket, with promised payment that may take weeks to arrive – if ever.
The time investment is rarely commensurate with the small amount, and the detailed reporting required can turn what seems like a simple task into a problem. Many people find that mystery shopping is not worth the time and effort for the limited rewards it offers.
Start a side hustle
Don’t get me wrong, some of these side hustles like YouTube and blogging are scalable.
If you do it right, and invest a lot of effort, time and some money, you can even create your own independent business with your own website.
But if you need quick cash, like I said before, take a second shift at 9-5 or try temp agencies.
