Mortgage payment. Car payment. Student Loans. It seems everywhere you look – something is costing you money. So maybe it’s time to get a side hustle like Megan Johnson.
Megan is making her mark on the world selling art pieces from her home in Kernersville.
“I’ve sold to pretty much every country I’ve ever heard of. I guess Australia is the furthest away,” she said.
She started the designs as a hobby. Then threw some onto the crafter boutique website Etsy to see if anyone would buy them.
“They starting selling so fast, that I figured people must actually really like this,” she said.
Today she mass produces the sketches as stickers selling online for $4 to $14 each.
“This is my main job now. It’s growing so much!” she said.
She’s one of more than 44 million Americans that have a side hustle according to Bankrate. Made more common by a slew of new apps like Etsy, Uber, Lfyt and AirBnB. But how much extra can you really rake in?
Earnest found Etsy users on average make $151 per month. Uber and Lyft drivers about $370. And people who rent out their homes through Air BNB make the most out of the new high-tech side hustlers. Banking an average $924 every month.
Just know: bringing in that kind of money is going to put you under an the spotlight of the IRS. You must report any extra earnings of more than $400. But tax expert Kevin Robinson says you can offset how much the government collects from you by keeping good records of your expenses.
“A lot of people may not realize there’s a home office deduction. If a room in their home is used regularly and exclusively for the business, then they can deduct some mortgage interest, real estate tax, home owners insurance,” he said.
Just like Megan who’s set up an entire studio in her home.
‘It was so exciting. It feels so great actually doing it on your own. Making it by doing something you actually created yourself,” she said.
Drawing on her talents to make extra money and feel more at peace.