Side Hustles or Moonlighting in finance?
I’m looking for ways to earn some extra income to recover from a recent challenging real estate investment.
Currently, I’m a US-based Director of Reporting with an MBA and I’ve faced quite a challenge breaking into Upwork. I’ve also tried part-time remote roles, but the competition is fierce. My expertise lies in P&L and Balance Sheet analysis, PowerQuery/Powerpivot, report design, and translating financial metrics for non-financial audiences.
I’m turning to the collective wisdom of r/financialcareers—I’ve searched through past threads but didn’t find much relevant info, so I apologize if this is a frequently asked question. Any insights or suggestions would be greatly appreciated!
One response
It sounds like you’re in a challenging yet potentially rewarding position, and leveraging your existing skills in finance could definitely help you generate some additional income. Here are a few side hustle ideas tailored to your expertise:
Freelance Financial Consulting: Since you have a background in reporting and analysis, you could offer consulting services to small businesses or startups that need help with financial planning, budget management, or improving their reporting systems. Platforms like Upwork, Fiverr, or LinkedIn can be useful to market your services.
Online Tutoring or Coaching: You could consider tutoring students or professionals in financial topics, especially those who struggle with P&L, balance sheets, or reporting tools. Websites like Chegg Tutors, Wyzant, or even your own social media could help you get started.
Create Financial Templates/Tools: Utilize your skills in PowerQuery and PowerPivot to create customizable financial templates or dashboards that you can sell online. This could include budget trackers, financial analysis tools, or reporting templates on platforms like Etsy or Gumroad.
Content Creation: If you’re comfortable with writing or video creation, consider creating content around finance topics aimed at beginners or non-financial personnel. This could be in the form of a blog, YouTube channel, or online courses on platforms like Udemy or Teachable.
Part-time Remote Work in Niche Areas: While you mentioned fierce competition, you might focus on niche areas where your specific skills stand out, such as financial reporting for startups or nonprofit organizations, which may value your unique perspective more than larger firms.
Networking and Referrals: Leverage your existing professional network to find contract-based or one-off projects. Many businesses may not look for long-term hires for specific reporting needs but would benefit from a project-based consultant.
Participate in finance Competitions: Some organizations and universities host finance-related competitions that offer cash prizes. This could not only provide a monetary boost but also enhance your resume.
Online Marketplaces for Financial Services: Explore other platforms designed for professionals offering specialized services, such as Toptal or Catalant, that might have less competition than freelance sites.
With your qualifications and expertise, focusing on projects that align with your skills will not only maximize your income potential but also be more fulfilling. Good luck with your endeavors!