Inflation, economic uncertainty, and stagnant wages have made it expensive to live in Canada, so finding side hustles is one way to earn extra income.

An April survey by H&R Block Canada revealed that Canadians are increasingly worried about not having enough savings for a rainy day, putting away a mere seven per cent of their earnings rather than the 20 per cent rule of thumb.

Among participants, 51 per cent of participants said they’re struggling to make ends meet, while 81 per cent said their income can’t keep up with rising costs.

It’s hardly surprising that, according to a Leger study commissioned by Capital One Canada, more than a third of younger Canadians rely on more than one source of income to reach their financial goals. In fact, last year, nine million (28 per cent) of Canadians reported being part of the gig economy.

“Ninety-four per cent said that their motivation was simply to earn more money, rather than pursue a passion, hobby or interest,” states the study.

Nearly half of Canadians, including those earning over $100,000 in their primary jobs, said they’d be financially stressed without their side hustle. A total of 55 per cent said that income from their side hustles goes towards non-negotiable needs, and 59 per cent put their extra earnings towards savings.

And essentials are about to be even more expensive.

In a LinkedIn post, Loblaw CEO Per Bank warned shoppers that tariff-impacted products are about to hit supermarket shelves. As a result, Canadians can expect tariff-related price increases in the coming months.

If you’re feeling the pinch, picking up a side hustle might be worth considering, and Capital One Canada has some advice.

“Remember, securing a side hustle is all about leveraging your existing skills and knowledge,” reads the report. “Whether you want to be behind a desk or on a walk in the park, selling products online or sharing expertise face-to-face, it’s key to find an opportunity that fits your schedule and financial goals.”

Here are seven side hustles to consider:

Freelancing

Are you the creative type? Now is your time to monetize your talents.

“Graphic design is one of the most in-demand niches on the freelance job market,” reads the report. “In addition to logos, flyers and websites, just think of all the eye-catching social media posts you scroll through every day.”

If you can fact-check, research, edit and understand Search Engine Optimization (SEO), you might want to consider remote writing or editing jobs.

E-commerce

Whether you enjoy making jewellery or candles, you can turn your hobby into a passive source of income by selling your creations online. If you’re not that crafty, you could declutter your home by selling items you no longer use.

Delivery

If you have free time and enjoy driving or being outside, consider delivering various items such as groceries or packages.

“A side hustle as a delivery driver offers a flexible schedule and easy earning potential that will quickly jumpstart your savings,” states the report.

Dog walking

According to a 2024 report by the Competition Bureau Canada, pet ownership in Canada continues to grow. With more workers returning to the office, “demand for pet care services is surging.” Love dogs? Connect with pet owners online to earn money as a dog walker or pet sitter.

Teaching

Share your knowledge with others, whether it’s math or guitar lessons. In addition to making money through your skills, it’s also rewarding to see your students improve.

Become a virtual assistant

If you’re organized and enjoy helping people, you can earn cash as a virtual assistant. Tasks can vary, such as admin support, customer service, project management and digital marketing.

Become a fitness instructor/coach

Motivate Canadians to meet their fitness goals by starting a side hustle as a fitness coach or instructor. From cardio sessions to yoga classes, find a routine that works for you and your schedule while earning money.

 

Lead photo by

Shawn Goldberg/Shutterstock.com



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