Side hustles are underrated

An extra $1,000/month can change your financial life

Here are 14 lucrative side hustles that can turbo-charge wealth building:
1/ @Airbnb

How much: $50+/night

Got an extra room? Rent it out!

Know a city well? Advertise an experience!
2/ Babysitter

How much: $15+/hour

Every parent need helps
✅Before school
✅After school
✅Nights
✅Weekends

Use @CareDotCom to find clients
3/ Bartender

How much: $25 - $50/hour

You can work nights/weekends at a restaurant or go solo and bartend private events (parties, weddings, corporate events)
4/ Car Detailer

How Much: $50+/hr

Drive to the owner's car and make it look brand new
5/ DJ

How Much: $50+/hour

Weddings, school functions, parties, corporate events

Bonus idea: Offer to host trivia
6/ @Etsy

How Much: Unlimited

Like crafts? Sell personalized, homemade goods
7/ Freelance

How much: $25+/hour

Got skills?

Find clients on @fiverr & @Upwork
8/ Meal Delivery

How Much: $20+/hour

@dominos
@DoorDash
@Grubhub
@Postmates
@UberEats
@wingstop
+dozens of local restaurants

Bonus: Make yourself smarter by listening to these podcasts the whole time

9/ Personal trainer

How much: $50+/hour

Are you in shape? Get paid to help other people get there
10/ Pet Care

How Much: $15+/hour

✅Dog walker
✅Groomer
✅Pet sitter
✅Pooper scooper
✅Trainer

Find clients with @RoverDotCom & @wagdotcom
11/ Rent your car

How Much: $10,000+/year

Use sites like @turo or @Getaround to rent out your car when you are not using it
12/ Rideshare

How Much: $15+/hour

@Uber & @lyft

Drive during periods of peak demand is even more lucrative
13/ Photographer

How much: $50+/hour

Take high-quality photos of families, friends, pets, corporate events, parties, weddings
14/ Tutor

How Much: $50+/hour

Know a subject cold? Help students get caught up
Important:

Use this extra income to build wealth, not inflate your lifestyle

Here's my suggested plan of action:
Enjoy this thread?

I regularly tweet about money, investing, and self-improvement

Follow me @BrianFeroldi

You may enjoy all the other threads that I’ve written

If you want to learn more about investing,

I teach beginners how to invest on my YouTube Channel

youtube.com/c/brianferoldi…
Summary:

1: Airbnb
2: Babysit
3: Bartend
4: Car detailer
5: DJ
6: Etsy
7: Freelance
8: Meal Delivery
9: Personal trainer
10: Pets
11: Photographer
12: Uber
13: Turo
14: Tutor
Nick Huber (@sweatystartup) also has a great list of other low-risk business ideas

sweatystartup.com/businesses-i-l…

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Brian Feroldi

Brian Feroldi Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @BrianFeroldi

21 May
I've written 3,000+ articles and a book

Here are 10 tips that will make you a better writer:
1: Use stories and analogies

Readers will forget facts, but impactful stories and analogies will stick
2: More periods. Fewer commas.

No one likes reading a run-on sentence
Read 13 tweets
20 May
Last week, I asked my followers to share their favorite free investing tools

I received 200+ responses and dozens of recommendations

Here are my top 10 favorite answers:
1/ @theTIKR

I’ve heard A LOT about this platform on fintwit and finally gave it a try

I’m impressed - the data is high-quality & free

The transcripts alone are worth putting this into your rotation

Right now it’s invite-only, but here’s a free link:

tikr.com/Brian
2/ @QuartrSE

This is a GREAT app for listening to investor conference calls for free

I love that you can 2x the call speed & skip ahead/rewind easily

It's SO much better than calling in
Read 14 tweets
19 May
Our next "stocks from scratch" episode will be live on Thursday, May 20th at 1 PM

Which stock should we research next?

$APP / $APPH / $SPOT / $XM
You can watch it live or on replay here:

youtube.com/c/brianferoldi…
Close results! Wonder how this is gonna end
Read 4 tweets
17 May
Panic selling once can destroy years of good investment decisions in an instant

but keeping your head on straight when your portfolio is tanking is hard

Here are 13 investing tips/tricks/principles that I use to keep calm when my portfolio is in free fall:
1/ Know what you own and why you own it

You can borrow stock ideas from other investors, but you can’t borrow conviction

You must understand the bull AND bear case upfront, otherwise you won’t have the conviction to hold when the price is going down
Research builds conviction

Conviction enables patience

Patience builds wealth

If a 20% drop shakes your confidence in a business, you didn’t do enough research
Read 24 tweets
15 May
The most important investing lessons I've ever learned are counter-intuitive

That’s logical - if the lessons were intuitive, I wouldn’t need to learn them. I would do them naturally.

Here are 7 counter-intuitive investing principles that have made me a better investor:
1/ Don’t haggle

My instinct is to pay the lowest price possible

If a stock is trading at $21, I used to set a limit order for $20.50

Trying to squeeze out every last penny of value
My orders didn’t always fill

I had to try again the next day (at a higher price)

The bigger problem is that haggling caused me to NOT BUY a few mega-winners

Which is FAR MORE costly than slightly overpaying
Read 24 tweets
12 May
My investing style: Buy and hold high-quality businesses

Here are 15 traits that tell me I've found a great business ⬇️
1/ Recurring Revenue

Types:

Business Services $MCO
Contracts $AMT
Consumables $MNST
Exchange $MKTX
Franchise $WINA
Membership $TDOC
Platform $ETSY
Razor/blade $DXCM
Real Estate $STOR
SaaS, PaaS, IaaS $TWLO, $NOW, $FSLY
Subscription $NFLX
Tollbooth $BIP
2/ Recession-Proof Demand

Great companies sell products/services that are in-demand in good times and bad

That allows them to grow regardless of what is happening in the broader economy
Read 20 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

:(