Finance

How to get more money out of socializing in 2023

An adult sits at home at a desk and reviews financial documents.

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With the right moves, you can make your gig even more lucrative.


Key points

  • If you are going to work on the side, it could also be very profitable for you.
  • With the right strategy, you can increase your side gig earnings and enjoy the benefits that come with it.
  • See how you work more hours, increase your client load, or increase your rates.

There are many good reasons to put off another job. Perhaps higher living expenses have pushed you to the brink of debt, and you need income from a side job to avoid carrying credit card balances in advance. Or maybe you have different goals that the side hustle helps you accomplish, like building an emergency fund or saving for a down payment on a house.

Working on the side can also allow you to spend more on the things you enjoy. Love to dine out? If you’re earning extra money from another job, you might have the option to join friends at a nice restaurant twice a week without having to worry about the cost. And if you love to travel, your side hustle could help fill your vacation budget nicely.

But if you’re going to put in the time to do it on the side, you might as well try to make as much money out of it as possible. And these tips could help you earn more than your second gig in the new year.

1. Increase your working hours

You might be spending eight hours a week on your site right now, and that in itself is impressive. But if you are able to increase from eight hours a week to 10, you can increase your income even more. So look at your schedule and see what is feasible. If you’re completing a large project at your main job, you may not need to put in as many hours there, leaving you free to increase your side hours.

2. Increase your rates

You might get paid by the hour for your party as a pet sitter, tutor or house cleaner. If you increase your rates, you will increase your income without additional work. Of course, your customers may not be thrilled with the idea of ​​having to pay more for the same services. But if you have a solid, long-standing relationship with them, you can explain that inflation is driving up your costs just like everyone else’s, and you need to raise your rates to keep up.

3. Find a better way to get clients

If you’re currently spending a few hours a week trying to pass yourself off as a gig worker, that’s time you could be spending working and making money. Instead of spinning your wheels, try to find ways to get your business off the ground. This could mean increasing your social media presence or asking existing clients to refer you to other people who may need your services.

4. Be more efficient in what you do

The better you get at your craft, the more money you can make from your foreign gig. Let’s say your second job involves selling homemade jewelry or updating websites. If you find ways to get that work done in less time, you’ll be able to take on more work – and make more money.

A side hustle can do a lot of great things for your finances. Follow these tips to make yours even better.

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