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What is a Side Hustle Stack and How Does it Work?

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When you need extra funds, your first reaction might be to cut back on your expenses. While reducing spending is important, it’s not the only solution. The other option is increasing your income, which is when a side hustle stack can come into play.

Whether you want to reach big savings goals, pay down debt, or make ends meet, earning more money might be the solution. Side gigs can help you maximize your income through flexible earning opportunities.

Let’s explore what a side hustle stack is and tips to help you build your own.

What is a Side Hustle Stack?​


Picking up one side hustle is a good idea, but two is better than one. A side hustle stack involves having multiple related side gigs or creating multiple streams of income.

A big goal of a side gig stack is to maximize your earnings. Of course, working on several side jobs is hard. However, it can pay off in the form of higher earnings.

Beyond more income, a side hustle stack allows you to diversify your income streams. With different streams of income, you are not dependent on a single source of income.

For example, let’s say driving for DoorDash is one of your side hustles. You might also sign up for other delivery app jobs like Instacart and Shipt or drive for Lyft to maximize your chance of earning money.

Ultimately, anyone looking to earn money in multiple ways and rely less on one particular income stream can find value in a side hustle stack.

How Do You Start a Side Hustle Stack?​


Building a side hustle stack starts with analyzing your skills, interests, goals, and availability. Here’s how these four factors might influence the side hustles you include in your stack:

  • Skills: Start by evaluating what you are good at doing. As you think about your skills, be kind to yourself. You likely have several skills to monetize. For example, you might be a clever storyteller, an excellent crafter, or a safe driver.
  • Interests: By definition, a side job is usually something you take on outside of work hours. After spending long hours on a day job, many side hustlers let their interests guide their projects.
  • Strengths: It’s usually a good idea to play to your strengths. If you already have in-demand skills and interests, consider turning that into a lucrative income stream.
  • Availability: Time constraints will play a significant role in your side hustle choices. For example, someone working a regular 9 to 5 job likely can’t commit to a side gig that conflicts with office hours.
  • Goals: Most people want to earn more money through a side hustle. Try to be specific about any income goals and realistic about the earning potential of a side hustle. Some fast options to earn cash in multiple ways are available to independent contractors with high-demand skills who are comfortable working online jobs.
  • Active vs. passive income: Active income involves trading your time for money. Passive income involves putting in upfront work in the hopes that the asset you build will produce an income. For example, freelance writing is an active income, but selling a book you’ve already written can be passive. Decide if you want to focus on building streams of active or passive income.

Once you have an idea of what you are looking for in a side hustle, it will be easier to determine which options are the best for your stack.

Research Your Options​


After looking at your interests, strengths, availability, and goals, it’s time to find side gigs that fit into your stack.

The good news is you’ll find no shortage of types of side hustles. However, you’ll have to sort through your options to find the right fit.

Whether or not you have potential options in mind, consult our guide on 101 ways to earn money on the side. As you look for money-making strategies, consider how different side hustles might fit together in a stack.

For example, let’s say that you decide you want to earn an active income by putting your writing skills to good use. Becoming a freelance writer might be a good place to get started.

Other complementary side jobs might include launching your own blog, writing an ebook, or editing college admission essays.

As you sift through side hustle ideas to include in your stack, keep your preferences in mind. With countless side hustle possibilities to choose from, you’ll find plenty of options. The key is to only move forward with side gigs that make sense for your situation and goals.

Create a Plan​


Once you have an idea of which side hustles you want to try, it’s time to create a plan. Although your plan will be unique, here are some of the elements to include:

  • Set realistic goals: Most side hustles grow over time. As you set your income goals, be realistic about the timeline.
  • Map out necessary steps: If you want to start a side hustle as a graphic designer, the first step might be signing up for freelancing platforms or pitching potential clients. If you want to mow lawns, you might start by posting flyers around your neighborhood and letting your network know.
  • Buy any necessary equipment: Many side hustles won’t require purchasing extra equipment. If you do need equipment, strike a balance between functionality and price.
  • Take action every day: Getting a side hustle off the ground is hard work. Try to prioritize making progress every single day. Even if you just pitch one client, small progress can add up.

Your plan can be flexible. Adjust it as necessary to maximize your income potential.

Types of Side Hustle Stacks​


Everyone has a different combination of financial goals, skills, and interests. When you build a side hustle stack list, there are plenty of opportunities at hand.

Below are some popular side hustle stacks. Don’t be afraid to mix and match across the stacks below.

Working for Side Gig Apps​


If you are looking for opportunities in the gig economy, you’ll likely come across a wide range of options through side gig apps. These money-making apps give you a chance to earn cash on the side, but each offers a unique spin.

Here are a few of the popular side gig apps:

  • Doordash: Doordash is a platform that lets you pick up flexible work as a food delivery driver. Dashers can make deliveries with a car, scooter, or bicycle. The amount you can earn varies based on your location and available hours. Read our DoorDash driver review to learn more.
  • Rover: Rover is an app that connects pet owners with pet sitters. If you are comfortable with pets, you might be able to earn up to $20 per hour through the platform. Read our Rover dog sitting review to learn more.
  • TaskRabbit: TaskRabbit helps you find odd jobs to earn extra cash. You might find earning opportunities for furniture assembly, heavy lifting, home repair, moving help, cleaning, waiting in line, and more. If you’re looking for high-paying jobs near you and don’t mind working with your hands, TaskRabbit is a fantastic choice.

Of course, these side hustle apps are just the tip of the iceberg. Signing up for multiple platforms can turn a single opportunity into multiple ways to earn.

If you’re looking for side jobs near you, other than on-demand gigs, Steady is a good alternative. The free platform helps you identify opportunities in your area, and the company claims users earn $5,500 per year, on average, through the app.

Regardless of which side hustle you choose, many of them qualify as under-the-table jobs that pay cash. This is helpful if you need regular infusions of money to manage your bills.

Freelancing for Various Clients​


Freelancing can be a lucrative way to earn extra cash. You can become a freelancer in a variety of ways. A few popular freelancing services include writing, editing, web design, graphic design, and bookkeeping.

When you add multiple clients and services, you can turn your hustle into a stack.

The first step is to land a freelance client. While you can pitch potential clients directly, it can be easier to get started on a freelancing platform. Upwork and Fiverr are two places to try.

Become a Creator​


If you have creative skills, you can create products to sell.

Of course, you can make physical crafts to sell on a platform like Etsy. However, you might find more lucrative opportunities by creating designs to sell on t-shirts, mugs, and more. If you want to sell your designs online, Cafepress offers a good solution.

Creators aren’t limited to selling designs. You might choose to create an online course on a topic that you are knowledgeable about. Alternately, you might write a book to sell in multiple formats, like audiobooks and ebooks.

Read our guide on I want to start a business, but have no ideas to identify potential opportunities.

Passive Income​


If you are interested in increasing your monthly earnings through recurring income, you might build a side hustle stack with the goal of creating residual income. Even if you have limited resources, it’s possible to build passive income.

For anyone with extra space in their home, Neighbor is a great way to rent it out. Their website claims you can earn up to $400 a month renting your extra space.

If you don’t need your car every day, you could rent it out via HyreCar. Their site claims you can earn up to $720 per month renting your vehicle.

With both opportunities, the respective apps manage everything from scheduling to payments. You just need to be there to hand off the keys or direct the person where to go.

Side hustlers with an investor mindset might decide stREITwise is the right fit to make extra money. Not only is this one of the side hustles you can do from home, but you might also find reliable ways to earn through real estate investing.

With the right approach, you can find passive income opportunities for your stack. Don’t be afraid to try something new.

Benefits of Side Hustle Stacking​


Side hustle stacking presents an opportunity to make even more money. Here’s a look at the benefits.

Flexible Schedule​


Most side hustlers choose to build multiple income streams around their full-time job. With that, you might find a flexible way to earn money on your own schedule.

This is especially true if you seek out location-independent side hustle ideas that allow you to create your own work schedule.

Potential to Increase Your Monthly Income​


Side jobs offer a way to supplement your income. If you take on multiple gigs, you can make money on the side.

With multiple streams of income, you might build more financial stability.

You Can Work on What You Want​


You might not have much control over work projects at your day job. Fortunately, when you build out a side hustle stack, you have the power to determine which projects you will work on.

Being in control of your second job is a great feeling.

Tips to Succeed With Your Side Hustle Stack​


Building a stack isn’t necessarily easy. Here are some tips to help you succeed and make money from a side hustle.

Use Your Strengths​


Everyone has a unique set of talents. If you already have in-demand skills, it’s a good idea to start your side hustle search there.

Sticking to your strengths can put you on the path to success faster.

Have a Goal in Mind​


Without a goal, it’s challenging to monitor your progress. Instead of blindly jumping into a side hustle, determine what you want to get out of your side hustle. If possible, set up a realistic timeline that includes checkpoints along the way.

As you build out your side gig stack, check in with your progress. If you aren’t moving forward, consider changing directions.

Don’t Be Afraid to Learn​


Learning something new could be the key to earning more through your gigs. As you build your stack, stay curious.

Don’t be afraid to learn new things while navigating this journey. Doing so can help you build more reliable income streams.

Think Outside the Box​


Don’t get pinned down by your preconceived notions of a side gig. Try to approach this journey with an open mind.

When you spot an opportunity, take it.

Use Available Resources​


While you can go it alone, it’s wise to take advantage of any available resources you can find. You might decide to take a course or sign up for a side hustle platform to get started.

When you have questions, it’s okay to ask for help.

Bottom Line​


Learning how to earn cash from a side hustle stack can change your financial trajectory. If you want to build out your own stack, start by assessing your strengths, interests, and goals.

As you evaluate potential side gigs, only move forward with options that fit your needs.

What’s most important to you in choosing a gig economy job?

*Earning more on certain types of orders (ex. alcohol): Earn more per order as compared to restaurant orders. Actual earnings may differ and depend on factors like number of deliveries you accept and complete, time of day, location, and any costs. Hourly pay is calculated using average Dasher payouts while on a delivery (from the time you accept an order until the time you drop it off) over a 90 day period and includes compensation from tips, peak pay, and other incentives.

*Get paid instantly (DasherDirect): Subject to approval

*Cash out daily (Fast Pay): Fees apply

*Start Dashing today: Subject to background check and availability

*Dash anytime: Subject to availability


The post What is a Side Hustle Stack and How Does it Work? appeared first on Frugal Rules.
 
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