PHOENIX — Record high inflation and rising costs on just about everything could be hurting your wallet. It could also have you thinking about picking up a side gig for some extra cash. It turns out that many people are using their homes to get creative.
While you've probably heard of Airbnb, there are apps online like Swimply where you can rent out your swimming pool or Neighbor where you can rent out your garage space. There's also SniffSpot where Phoenix residents like Yair and Chelsea are renting out their backyard to dog owners.
"We wanted to essentially monetize it and be able to share it," said Yair.
So two years ago, the couple posted their yard for rent on the app and the requests came pouring in. For $15 per dog an hour, you get the entire yard and pool uninterrupted. Clients have even hosted their own private dog parties.
"On the low end, two reservations a day, on the high end, six or seven," said Chelsea. The couple says they never imagined they'd have as much success as they do.
"I didn't think there was really a market for it," said Yair.
However, a lot of dog owners would rather skip the traditional dog park and while this isn't the couple's full-time job, the extra money is a big bonus.
"Thirty-one percent of Americans have a side hustle right now," said Ted Rossman with Bankrate.com. He says that number is slightly down from 2019, but because of inflation, data shows more side-hustlers are using their extra income for living expenses as opposed to just extra spending cash.
"You want to be mindful of the safety and security aspect," Rossman said. "Also any wear and tear, damages. There are some overhead costs associated with side hustles and there's also the time and energy you're putting in."
But there are also benefits, something Yair and Chelsea have seen firsthand in a time of economic uncertainty.
"Because we need to stay ahead of increased cost of living and goods, this was a nice way for us to do that," Yair said. "We're always looking for projects."
Rossman says picking up a side hustle is also a great way to pay down debt or save up for a vacation. Here are the top side hustles they recommend.
