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Create A Side Hustle Stack To Maximize Your Earnings
Looking for new side hustles to give your monthly income a boost?
CONSTELLATION BRANDS, INC.
Thanks to the gig economy, finding a side hustle has never been easier. But adding more gigs to create a “side hustle stack” can sometimes be challenging.
In this post, you will learn what a side hustle stack is, how to build one, strategies for growth, and a tool (appropriately called Side Hustle Stack) to create side gigs to maximize your monthly income.
What Is Side Hustle Stack?A side hustle stack combines a number of ways to make extra money outside a traditional 9-5 job.
The cost of living is increasing as inflation soars which means more people are in need of additional income to make ends meet.
According to a recent survey, a whopping 93% of Americans have a side hustle, with a majority of these side hustlers having two or more side gigs.
Related: 300+ New Side Hustle and Small Business Ideas
Benefits of Side Hustle StackStacking up multiple side jobs is a great way to maximize your monthly income. By diversifying your income streams, you still have other options if one side hustle slows down.
Another great benefit of having more than one side hustle is taking advantage of different schedules and peak times for each gig. This allows people to work a few more hours in the morning, evening, or even on the weekends to make some extra cash.
Many of these side jobs can be done from home, eliminating the time and money spent on commuting. Doing multiple gigs is also more stimulating and beats the boredom of repeating the same task over and over in a single job.
If you keep fine-tuning your side hustle stack, it could become lucrative enough that you could soon quit your day job.
5 Strategies On How To Make Money From Side Hustle Stack?Having multiple side hustles doesn’t mean you have to work around the clock. With an efficient combination, you can maximize your earnings without working 24/7.
Here are some strategies to consider when stacking up multiple side hustles:
Combining Active and Recurring IncomeDon’t make your stack purely active income gigs (those that are paid per unit of time) or all passive income gigs (those that generate recurring revenue, such as investments, blogging, etc.).
A healthy mix of active and recurring income will help you manage your time and provide earnings stability. For example: If you’re a graphic designer, you can offer design services on Fiverr (active income) and also sell digital products on Etsy (recurring income).
1. Leveraging One Skill On Multiple PlatformsIf you have a particular skill or talent, offer it on multiple platforms. Repetition or replication will help you reach a wider audience and get paid more.
For example, if you’re great at social media marketing, you can offer your services on Fiverr and Upwork and create an online course on Udemy.
This way, you are maximizing one skill on multiple platforms creating diverse income streams.
2. Mixing Time FlexibilityAnother essential factor to consider when stacking up side hustles is the time flexibility of different jobs.
For example, if you have a gig that requires punctuality, such as being a tutor, it might be wise to combine it with a side hustle that you can do at any time, like blogging.
3. Utilize Money-Making AppsThanks to technology, it’s easier to find side hustles at your fingertip. Take advantage of mobile apps and get paid to use your phone.
Some popular gig apps are:
For those who want to earn cash, like taking surveys, being a mystery shopper, getting paid to watch videos, etc., try these apps so that you can instantly make free PayPal money.
If you have a day job with limited time, you can still earn extra money by taking advantage of some accessible income streams.
Consider renting out your extra space, car, driveway, storage, or items you don’t use. These are relatively easy ways to make some extra cash.
Examples of Great Side Hustle StacksKeeping the above strategies in mind, here are a few side hustle stacks to maximize earning.
Graphic Designer + Etsy Shop OwnerIf you’re a graphic designer, offer your services on Fiverr and sell your digital products on Etsy, such as printables and web graphics. This is a match made in heaven between active and recurring income streams.
Virtual Assistant + Running an AirB&BWorking at home as a virtual assistant (VA) provides flexible hours and locations. Depending on your skill set, you can offer many types of virtual assistant services.
To complement your VA job, you can also consider running an AirB&B, earning extra income. This is another great mix of different kinds of income, giving flexibility in hours and location.
Freelance writing + bloggingIf you have a knack for writing, consider working as a freelancer by offering a writing service to companies, businesses, or individuals. Meanwhile, you can also start a blog on your passionate topics, through which you can generate additional revenue while also raising your profile among prospective clients.
Related: Want to Learn the Secret of How to Make Money Blogging? Join a Mastermind Group!
Dog Walker + Social Media InfluencerMy friend Sally, who provides a dog-walking service in her spare time, has her own Instagram on how to train dogs. As her social media account became popular, she started making money online through sponsorship and affiliate marketing. As her side hustle stack grew, the income enabled her to quit her full-time job.
Reseller on Different Products and PlatformsBeing a reseller is a legitimate way of making money from selling desirable items. You can find these products from clearance sales, garage sales, and even thrift stores. Once you understand what sells well, you can start to source items in bulk and sell them on different platforms such as eBay or Amazon.
How to Create a Side Hustle StackAre you interested in earning money by having multiple side jobs but don’t know where to start? Here are five simple steps to create a side hustle stack:
1. Figure Out What You Want To DoThere are so many options available, from online businesses to freelancing to traditional part-time jobs, so it can be challenging to decide what is the best for you.
But you can do a few things to make the decision easier. First, consider what you’re good at and enjoy doing. Then consider your skills and experience and see if there are any opportunities in those areas. Finally, look at your current lifestyle and see what type of side hustle would fit best into it.
2. Start with OneHaving a side hustle stack will ultimately bring you more extra income. However, if you are starting, it’s always a good idea to start with one. You don’t want to spread yourself too thin by jumping into multiple side gigs simultaneously. Focus all your energy on making that particular hustle successful while keeping your options open for future endeavors.
Your side hustle should be making you money. So when deciding which hustle to start, choose the one with the most earning potential.
Related: What Are the Best Side Hustles for You? These 15 Questions Will Help You Decide
3. Create a Plan and Stick To ItOnce you’ve decided which side hustle to start with, it’s time to create a plan to make it successful. Set some goals and determine what steps you need to take to reach those goals.
It’s also important to be realistic. If you’re unsure how much time you can realistically commit to your side hustle each week, start with a lower number and increase it as you go.
The most important thing is to stick to your plan, meaning being disciplined and focused and ensuring you’re taking action every day towards your goal.
4. Take A Course (Optional)Taking a course may help you close any skill gap and fast-track your side hustle success.
There are three types of courses to consider:
Related: 30 Places to Learn New Job Skills for FREE!
5. Find a Mentor or Join a CommunityDoing side gigs can be a lonely undertaking. To grow your side hustle stack into something bigger, you must have a mentor or be part of a community on your journey.
If you decide to take a course, they often have a community component, be sure to get involved and introduce yourself. In addition to meeting like-minded people, the communities can often save you time and money if you face a problem or challenge. Post a question to the community – don’t struggle for hours. They probably faced the same issues starting their hustles and can quickly guide you through.
Finding a mentor is another option. While you can meet someone you admire, you can also pay for a mentor. Consider this an investment in your side hustle future, saving you years of frustration, lost revenue, or costly mistakes.
6. Scale From One to MoreOnce your first hustle is delivering on the goals you set or heading towards them, it’s time to scale. Now you build your side hustle stack.
If you’re looking to add more hustles, there is even a free directory site called Side Hustle Stack to help you with some ideas.
What Is Side Hustle Stack?This centralized database directory helps people find platform-based work ranging from gig work, side hustles, or even starting their own business.
How Does Side Hustle Stack Work?You can search for the type of work or skill you want through work categories. The site will then show a list of available platforms/sites where you can find similar types of work.
For example, if you are interested in driving gigs, clicking through “Driver,” you will see three platforms: Uber, Lyft, and GOShare.
If you click on each one, it will give you an overview of the site and any sign-up costs.
The “Sign Up” link takes you directly to the gig site.
What Are the Side Hustle Stack Work Categories?The site organizes different side gig platforms by work categories, which makes it easy for users to find the right platform that fits their skills.
It hosts various online and physical jobs involving multiple skills and capabilities. Some popular work categories include:
Side Hustle Stack makes it easy for gig seekers to search for platforms that fit their skills.
For example, there are 15 platforms under the “Teacher” work category. While you may recognize a few popular ones, you can also discover other platforms you may not know otherwise.
Leveraging your skill with different platforms is one of the effective strategies to stack side hustles (more on this later).
For each platform, Side Hustle Stack also provides a good overview with helpful information like what it is, what equipment you will need, average pay, platform pricing, and a sign-up link.
When I clicked a few sign-up links, I noticed some were affiliate links, meaning if you signed up through the link, the platform would get a kickback at no additional cost to you. Sometimes you may even benefit from a bonus as well.
ConsAs Side Hustle Stack is still relatively new, I found specific categories have limited platforms, and some popular ones are missing.
I also noticed the reviews for each platform are very sparse; some have none, which comes across as lacking credibility.
Overall, Side Hustle Stack is a good tool for someone looking for multiple side gigs and not necessarily familiar with different gig platform sites. However, I advise you to do further research on the platform of interest before deciding it’s the right one for you.
Final ThoughtsWith so many options available, it’s key to find a combination of gigs that will work for you. Be sure to check out free tools like Side Hustle Stack for a great directory of different platform-based work to give you more ideas on making more money! The side hustle stack method is a great way to earn money and diversify your monthly income.
This article originally appeared on Wealth of Geeks.
S&P 500 Earnings: A Brief Look At What's Expected For Q3 2022 Earnings And Revenue (By Sector)
mixmotive
The above table shows the actual history of revenue and EPS growth by sector for the 11 sectors of the S&P 500, dating back to the beginning of Covid-19 in Q1 '20.
One thing that struck me was that - if I were living on the hypothetical desert island - and didn't know the Fed was raising rates, you could plausibly make the case that 2022's earnings and revenue progression by quarter was simply a natural "mean reversion" to the monetary-steroid driven results of late 2020 and through the 4 quarters of 2021.
First though, with all the energy sector bulls out there, let's take a look at the revenue and EPS compares for the energy sector starting with Q3 '22 and moving forward.
We won't get the bulk of energy results until later in October. Note, energy EPS growth in Q3 '21 of 1198% and the actual revenue growth of 75.7%. In Q4 '21, energy revenue actually grew 91% yoy with the point being that the sector has very tough compares from Q3 '22 through the middle of 2023.
The technicians are bullish energy and for good reason as names like Exxon (XOM), Chevron (CVX) and Schlumberger Ltd (SLB) are all good looking charts, still trading above their 50 and 200-day moving averages.
The goal regarding energy is not to persuade or dissuade one way or the other. Just note that the next 4 quarters - Q3, '22 through Q2, '23 - are tough compares by the numbers.
In columns that are bordered in some areas, that's the trend in Q2 '22 EPS and revenue by sector. Here are some conclusions:
The goal of showing this data was to give readers an idea of the trend in Q2 '22 earnings last quarter and which sectors were showing stronger EPS growth and which were showing weaker EPS growth over the 90 days.
Finally, the first data column is showing what's expected for Q3 '22 EPS and revenue growth by sector. Those numbers will be updated around November 1. Expected revenue and EPS growth for the S&P 500 is lower than Q2 '22 and EPS is expected to be half of Q2 '22's 8% starting at 4%. That will likely be a little higher by the end of December '22 but note the "upside surprise" factor (in the middle of EPS and revenue columns) which is slowly fading. The fact is Q2 '22's "upside surprise" of 5.5% is actually higher than the long-term average of 3% to 5%.
Summary / conclusion: The point of all this is to show readers that what may turn out to be an "average" quarter of EPS and revenue growth for the S&P 500 is going to look recession-like because the compares are so tough against 2021. And I'm not trying to create a bullish case, either.
One thing that impressed me during the pandemic was how bad the analysts were at forecasting results. Just look at the upside surprises generated from Q2 '20 through Q2 '21. Is that all monetary-policy driven? Maybe, will the tightening that began in 2022, will that drive the opposite results? It certainly could.
Keep an eye on high-yield ETFs like HYG and HYS (PIMCO ETF) and JNK. The charts haven't broken below their June '22 lows but are hovering in the area.
Thursday and Friday start the Q3 '22 earnings off - mainly financials.
None of this is a recommendation to buy, sell or hold anything unless specifically stated. Past performance is no guarantee of future results. All the earnings and revenue data is courtesy of IBES data by Refinitiv. Conditions can change quickly in capital markets, both positively and negatively.
Thanks for reading.
Original Post
Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
Progressive: Shares Trending Higher Into Earnings, Profitability Seen Improving
akinbostanci
Insurance stocks are a rare bright spot in the S&P 500 this year. The iShares U.S. Insurance ETF (IAK) is nearly flat for 2022 but up almost 50% (total return) in the last two years.
Compared to the S&P 500 ETF (SPY), IAK is ahead by about 30% year-to-date. The fund's second-biggest component has an earnings date this Thursday, and shares are trending up.
Insurance Stocks Keep Working in 2022, New Highs vs SPY
StockCharts.Com
According to Fidelity Investments and Bank of America Global Research, The Progressive Corporation (NYSE:PGR), an insurance holding company, provides personal and commercial auto, personal residential and commercial property, general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property. Progressive derives most of its business from personal auto insurance policies. PGR operates in standard and preferred auto and is expanding distribution channels, which include direct distribution and internet.
The Ohio-based $71.3 billion market cap insurance industry company within the Financials sector trades at a high 86.9 trailing 12-month GAAP price-to-earnings ratio and pays a small 0.3% dividend yield, according to The Wall Street Journal. Just last week, Jefferies upgraded the stock to Buy on widening margins and net interest income gains despite some negative impacts from Hurricane Ian. Investors should be aware that PGR is known to pay large annual dividends at year-end.
PGR's three business lines are seeing impressive growth right now, but there are downside risks from rising interest rates potentially causing a loss of PGR's currently strong earnings power. Moreover, as seen recently with Hurricane Ian, natural disasters and catastrophes are always a risk. In the auto space, ride-sharing and autonomous vehicles also could lead to EPS risks.
On valuation, analysts at BofA expect Progressive's earnings to grow sharply in 2022 and surge in its next fiscal year. The Bloomberg consensus forecast is not as sanguine, though. Still, dividends are seen as climbing next year through 2024 while its operating P/E retreats to attractive levels.
PGR: Earnings, Valuation, Dividend Forecasts
BofA Global Research
Looking ahead, data from Wall Street Horizon show a confirmed Q3 earnings date of Thursday, Oct 13 BMO with a dividend payment date this Friday.
Corporate Event Calendar
Wall Street Horizon
Digging into the earnings situation, the consensus EPS forecast for this week's release is $1.44 according to Seeking Alpha while the revenue estimate is $13.4 billion. In the last 90 days, there have been 13 positive EPS revisions and just 3 to the negative side. PGR has a mixed recent earnings beat-rate history with significant misses in four of the past five reports.
The Options AngleOptions data from Option Research & Technology Services (ORATS) show an implied stock price move of just 3.3% using the nearest-expiring at-the-money straddle. The stock does not usually move much post-earnings, so implied volatility is low compared to other stocks reporting this week. Moreover, ORATS data show the biggest share price swing after a quarterly report is just 3.3% since Q1 of last year. Given that, investors shouldn't have much to worry about in terms of a monster move Thursday.
A Small Earnings Move Expected
ORATS
The Technical TakeProgressive continues to press higher. Shares have rallied from about $90 a year ago to above $120 today. While PGR pulled back about 10% from its September high just shy of $130 to $116 last week, buyers stepped to the plate despite broad market volatility. That correction made sense given a bearish momentum divergence on the RSI indicator above the price chart. Divergences sometimes indicate a trend change, but it's also common that they are just a corrective pattern, and the trend of a larger degree will soon take over. That might be the case here.
I see trendline support that comes into play in the high $110s. Being long into earnings makes sense based on the trend, but a stop under, say, the July-August low in the $108 to $110 range might be prudent.
PGR: Shares Correct After Bearish Divergence, Trend Remains Higher
StockCharts.Com
The Bottom LineProgressive's valuation looks attractive despite a high trailing GAAP earnings multiple. Strong EPS growth is expected, and the stock has strong absolute and relative momentum. I like this one heading into its earnings report, but traders might consider stepping away if the stock breaks below its summer lows.
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