3 Side Hustles That Can Help You Save for Your Down Payment
For many people, saving for a home is one of the largest financial savings goals that they will have in their lifetime. In a society where everything except wages seems to be going up cost, many people, are turning to side hustles in order to supplement their primary incomes, pad their emergency funds, pay off debt and reach their financial goals. Taking on a side hustle can be a wonderful option when saving for the down payment for a house.
Perhaps the best thing about side hustles is that there are so many that you can choose from. Taking on a second job no longer necessarily means working at your local grocery store on the weekend or tending bar on weekends. Although these are still two very viable options in today’s society the options are much more personalized and flexible.
Take a look at 3 of the most unique and profitable side hustles that you can start today.
- Catering
If you love food and enjoy cooking, working as a caterer might just be the way for you to make some cash. Generally, there is a relatively low commitment level, as opposed to taking on a regular serving job at a local restaurant. It is also a great way to make connections if you are hoping to transition your full-time career into the culinary field. - Become a Pet/House sitter
Lots of people go out of town for extend periods of time, either for work or play. When this happens, they still want to know what their house is safe and being looked after. This concern increases greatly when pets are involved. This is where house sitting comes into By marketing yourself as a reliable house sitter, you can earn some extra cash by staying at a stranger’s house while they are away, perhaps keeping a few dogs company and ensuring that they get their regular walks and playtime in. This can be a wonderful option for people looking for a side hustle that does not involve too much effort or those with less time to offer as you can still attend your regular job or classes while taking care of a house. - Drive for Uber or Lyft
When you take a job driving for Lyft or Uber you really are in control. There is no one who will be keeping tabs on you and your schedule. Your earnings will simply be calculated by adding a base fare, plus time and distance traveled after your pickup, minus a company service fee of between 20 and 35% (the amount depends on your location).Some things to keep in mind if you want to drive for Lyft or Uber are:
-A clean driving record
-At least 21 years old
-Have a valid and in-state drivers license
-Pass a criminal background check
Saving for a down payment can be a daunting task, especially when you make the decision to put down the recommended amount of 20%. But reaching your financial goals does not have to be unrealistic. With a little extra hard work, and a plan to reach your goals, you will soon be the proud owner of your own home.