Side Hustles Only Earn $483 per Month on Average. Here's How You Can Make a Lot More

It turns out that only 15% of side hustlers are making $1,500 or more each month.

As more people look to boost their income, side hustles are becoming more common. According to a recent study by Zippia, nearly half of Americans have a side hustle in 2023. But the average American is likely making less than you think by working a side hustle. Over half of Americans with a side gig bring in less than $500 a month. But that doesn't mean it's not possible to earn more money.

The average side hustle brings in $483 per month

Zippia researched the growing popularity of side hustles in the United States. Its findings show that 45% of Americans have a side hustle in 2023. With increasing living costs, it's no surprise that more people must supplement their income to survive more comfortably.

Are you considering getting a side hustle and want to know how much money you can realistically make from it? The average side hustler may be making less than you think. Zippia found that the average side hustle brings in $483 a month. Men, on average, bring in $596 a month, while women, on average, bring in $378 a month.

A large number of people overall make less than $500. More than half (56.4%) of side hustlers make less than $500 a month, and only 15% earn more than $1,500 monthly from their side hustle. If you plan to get a side hustle soon, this information is worth knowing to set realistic income goals.

Four tips to boost your side hustle earnings

In the same study, Zippia found that 72.3% of side hustlers earned less than $1,000 monthly. But 12.7% made between $1,000 and $1,499 a month. Even if it's not the norm to make $1,000 or more, you can bring in a significant amount of extra money from a side hustle.

The following tips may help you earn more money at your side gig:

• Lean into your unique skills: You could make more money from a side hustle that requires a unique skill set. As you explore opportunities, consider whether your skills could help you earn more. For example, someone who works as a graphic designer can offer graphic design consulting services in their free time. Since not everyone has this skill, the earning potential can be notable when compared to other gigs.
• Track your time: While many side hustles can be a win for your wallet, not all are worth the time. It's best to consider the time commitment required and average earning potential first. If you've been working a side hustle that brings in a meager hourly income and your goal is to increase your savings account balance, you may want to focus on a more profitable side hustle, so you put your free time to good use.
• Cut out the middleman: Some side hustlers, like food delivery drivers and dog walkers, rely on mobile apps to get work. While working through a mobile app can be convenient, you'll earn less money this way. That's because the company takes a portion of your profits. Don't be afraid to advertise your services elsewhere to boost your earnings.
• Don't forget to market yourself: Not all side hustles offer instant work. Many side hustles require you to market your services to land enough work. For example, a freelance writer can boost their earnings significantly by reaching out to brands to offer their services, which can increase profits. Being your own salesperson can pay off.

Increased income can help you achieve your financial goals

If you're unhappy with your current income level, don't be afraid to explore ways to make more money. Working a side hustle a few hours a week could be an excellent way to boost your income so you can pay off debt and save more money. But make sure you're working a profitable side hustle if you're working on important personal finance goals.