“My side hustle pays me $15,000 a month - and I work less”

Through Fiverr, Alice has earned roughly $200,000 since then.

Business Ideas|
By Liam Walker

In July 2020, Alice Everdeen quit her full-time job to pursue freelance work. Through Fiverr, Alice has earned roughly $200,000 since then.

Over the past two years, Alice Everdeen has worked as a freelance voiceover artist

A freelancer can sell their skills on Fiverr for a set rate, eliminating some of the hassles of finding work.

Having started offering voiceover services on the platform in March 2020, Alice realized the venture could be highly profitable.

The companies like Alice's "inviting" and conversational-sounding voice despite her lack of professional experience in voiceover artistry.

As a content manager in Austin, Texas, she earned roughly $3,500 in her first full month on Fiverr. Through Fiverr, she earned that much in about four hours per night.

After a few months of steady earnings on Fiverr, she left her full-time job and committed to voiceover.

Alice was surprised at how much she was able to earn despite starting out as a simple way to earn some extra income.

CNBC reported that she didn't expect to make more than a couple hundred dollars per month.

While Alice's workload has grown significantly over time, she still works fewer hours than shedid when she worked 9 to 5.

According to CNBC, she works three to five hours a day.

She took 41 gigs in her first month as a full-time voiceover artist, compared to 181 in July 2022.

According to her, she earned $102,000 in 2021, and has earned up to $15,000 some months.

Fiverr pros and cons of freelancing

The Fiverr platform connects freelancers with talent seekers and helps side hustlers find more consistent work.
With an account, you can post a gig almost instantly and describe what you offer.
Your post can also include pricing and other requirements.
On Fiverr, freelancers can advertise almost any skill set and earn cash based on demand.
Due to Fiverr's 20% commission, Alice would only earn $80 from a $100 job.
It's a trade-off she's more than willing to make since Fiverr handles her advertising.

A side hustle's tax implications

Your earnings are taxable regardless of whether you work a side hustle on top of a full-time job or juggle multiple part-time jobs.

As a side hustler or freelancer, you need to report your earnings differently than your standard income.

If you have multiple sources of income, you must fill out a Form 1040 to list them all.

For self-employment taxes, you'll also need to file a Schedule C and a Form SE.

Speaking to a tax professional can help you sort out what forms you need to submit and how to properly fill them out if you have multiple streams of income.

In addition, additional income may move your household into a different tax bracket, which will impact your tax bill.

Having a side hustle does allow you to claim more exemptions on your taxes, though, as you can report your expenses.

Keep any relevant receipts you receive for tax season so that you can prove how much you spent on your side hustle.

Here’s how YOU can work as a Freelancer

As a freelancer, you can offer your services to various clients on different platforms.

If you have skills such as writing, graphic design, social media management or any other indemand skill, working as a freelancer is an excellent way to earn money online.

To start off, create profiles on freelancing websites such as Upwork or Fiverr.

Build your portfolio by working on smaller projects from clients with lower budgets.

Over time, you will gain more experience and be able to charge higher rates for your work.

It's important to note that freelancing can be competitive and requires self-motivation and discipline. You'll need to market your skills continuously and deliver high-quality work within deadlines.

Building long-term relationships with clients is crucial for gaining repeat business. Freelancers also have the flexibility of choosing what projects they want to undertake.

With the ability to choose your own schedule and assignments, you can create a work-life balance that suits you best.

However, it's also important to keep in mind that freelancing can be unpredictable regarding income streams.

Some months may be busier than others, meaning there are no guarantees of steady income each month.

Overall, if you have marketable skills and are willing to put in the effort required for marketing yourself effectively, working as a freelancer could be an excellent option for starting an online business.

Click here to read our full post on earning from Fiverr for more info