IF you’re looking to boost your income without leaving your neighborhood, a pet-oriented side gig could be the perfect money maker for you.
This side hustle is a rewarding way to spend your time and can significantly help you meet your monthly budget.
Pet sitting involves caring for pets in their own homes while their owners are away.
This can range from just a few hours to an overnight stay.
Many pet owners prefer to keep their pets in a familiar environment, which has led to a growing demand for reliable pet sitters.
Nationwide, the average pet sitter earns around $16 per hour, which can add up quickly, especially with multiple pets or overnight stays, reports The Fool.
For instance, many people pay about $60 per night for a sitter to care for their dogs while they’re away.
You can find rates as high as $115 per night for quality service.
To get started, consider advertising your services on local platforms like Nextdoor.com, where you can connect with neighbors looking for trustworthy pet care.
You could also join a pet-sitting service that connects sitters with pet owners, even though these services often take a cut from each job.
Building trust is essential, so offering to meet with potential clients and their pets before accepting a job can help establish rapport and demonstrate your commitment to providing quality care, per the website.
Pet sitting is a flexible side hustle that allows you to work within your neighborhood, making it a convenient option for anyone looking to earn extra cash.
With inflation continuing to strain household budgets, more than half of Americans have taken on part-time gigs in the past year, according to a recent MarketWatch Guides study.
The study surveyed 2,000 Americans to gain insight into their financial situations.
Key findings revealed that 54% of working Americans have adopted side hustles to supplement their primary income.
Extra income you make from side hustles may need to be reported to the IRS.
If you receive more than $600 in gross payouts from a selling platform like eBay, the site will issue you a Form 1099-K to use in your tax return.
Individuals should calculate their adjusted gross income, taxable earnings, and deductions for the year.
Once they have that, they can use the 1040-ES form to calculate estimated taxes.
This trend is particularly prevalent among younger generations, with 71% of Gen Zers and 68% of millennials eng aging in side gigs.
Even nearly one-third of baby boomers have jumped on the side hustle bandwagon.
The pressure to find additional income comes as many households grapple with financial insecurity.
Approximately two-thirds of Americans report living paycheck to paycheck, with 57% of those individuals taking on extra work to make ends meet.
Starting in late 2020, inflation surged, outstripping average wage increases for a significant period.
This gap peaked in June 2022, when inflation hit 9.1%, while wage growth lagged at 5.3%.
Though inflation rates have recently stabilized, they remain above the Federal Reserve’s target, per the study.
As a result, even with some wage increases since the pandemic, many Americans still feel financially squeezed.
The study highlights the challenges that side hustlers face; 44% of respondents reported feeling financially insecure despite their efforts to earn extra cash.
Among those living paycheck to paycheck, the high cost of living was identified as the biggest barrier to achieving financial stability.
There are more side hustles to try if you want to stay ahead of the curb and make extra money.
One woman quit her nine-to-five job in favor of selling digital products. She now makes $5,000 weekly.
Plus, a teenager makes $250 daily with a lawn side hustle.
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