MoneyFlex

By Margaret Montgomery on January 31, 2025
Estimated reading time: 11 minutes

By Margaret Montgomery on January 31, 2025
Estimated reading time: 11 minutes

If you’re looking for extra income to keep up with the rising cost of living, look no further than our guide to side hustles in Canada.

Nearly nine million Canadians, or 28% of the population, reported having a side hustle in 2024, according to tax preparation company H&R Block. That’s more than double the 13% who were part of the gig economy in 2022. What’s more, Canadians are engaging in a side gig during their regular work hours. Compared to Gen X and Boomers, Gen Z and Millennials were nearly twice as likely to say they would run a side hustle during their main job if they could get away with it, according to a survey by The Harris Poll. According to that same poll, 29% of Canadian job seekers admitted working a side hustle on company time

How easy is it to start a side hustle? I spoke with three Canadians who have done it. They shared the upsides and downsides of having a second job—along with hard-won advice about being your own boss. Read on to learn more about how to start a side hustle, and how it could help you make more money and deal with the rising cost of living in Canada.

Lately, there’s been a lot of online chatter about “passive income,” especially among influencers promoting passive income/remote side hustles that promise “big returns.”

Passive income is money earned with minimal effort, once you’ve already set up a business or an investment—the opposite of active income made from your 9-to-5 job, for example. (It’s often described as “making money in your sleep.”) Think investment income, rental property income or even affiliate revenue from online content you produce (you earn a commission when customers make a purchase from a company you referred them to).

Sounds great, right? But buying dividend stocks, owning rental properties and making viral videos isn’t exactly within reach for everyone.

People hunting for other passive-income opportunities may come across influencers promoting e-commerce side hustles. If you look into it, the job description usually involves setting up an online shop on a platform like Amazon or eBay. You would have to purchase products and manage your store—and there’s no guarantee that you’d even make a profit. Also, good advice has always been to beware of outright scams and pyramid schemes that sound too good to be true.

Now that I’ve cleared up passive income, let’s get into how you can actually make more money in Canada. Let’s look at some side hustles and what they involve, including startup costs, hours and more.

Much like finding any kind of job, your side hustle needs to be a good fit for your abilities and circumstances. Ask yourself these three questions to narrow down your options:

Once you have a clearer idea of your options, consider one of the following ways to make extra........

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