When you wade through many FIRE and/or Personal finance blogs like FIdesiRE, many would flaunt about their Side Hustle earnings. Unfortunately, if you are in US on an L or H Visa, then you will not be able to signup for any part time work other than the full time work you are authorized to work. So are you feeling bad on missing out such opportunities? Don’t worry! Though you can’t take up a second job where active work involved, you can still do these passive/minor side hustles that would save/earn you some bucks on the go. Here is the list of side hustles H1B VISA holders can pursue.
Ebates, now Rakuten, is my favourite cash back site. Just sign up once, add extension to your browser. Thats it. Whenever you browse on shopping sites, the extension will notify you to activate the cash back. It also applies the available coupon codes and saves you more money.
Yes, almost all credit cards have cash back or miles promotion if you spend certain amount of dollars in initial few months. If you have good credit score, just signup for a new credit card every few months and there you could cover all your Phone, table, laptop and other costs every year.
I use Ibotta to get cash back for my weekly grocery purchases. Depending on products on offer you would be able to get cash back. All you have to do is install the app, choose your favorite shops and find the cash back offers on products tat you normal buy and add them to your account. Then do the shopping and scan the receipt and get the cash back. The amount that you get back looks less initially, but as you buy groceries weekly, this amount would grow into $100 or $200 per year depending on your weekly spend.
Please note that you will have to score $20 minimum to withdraw your cash.
This is one of the Survey websites I have started my hands on. Will provide more details when I get paid.
Online Savings Bank
If you have started your Personal finance journey, you may came across emergency funds. One have to keep such funds in a liquid asset so that he/she can withdraw it easily. The savings accounts offered by big banks like Bank of America or Chase are just like a locker. There is very small interest rate such that your Principal remains as is.
There are lot online savings banks who are offering batter rates in the range of 2+ % like Wealthfront, Personal Capital cash, Ally, Marcus etc. So park your emergency funds in these online savings bank and earn some interest money.
If you have more cash to invest, you can lend it via LendingClub and you may get attractive interest rates. But there would be risk of default and there would be lock in period as well.
One more mode of having your cash work for you. In this case, your money will be invested in certain properties of your choice along with money from others. Then the property starts earning attractive returns via Rents and sales etc. There is a lock in period of three years as I write. So Fundrise if for those who have lots of cash and want more returns compared to Savings bank or Lending.
Dividend Investing requires more time and skills to analyze the stocks, buy them and keep them for the period until cyclic review. There are many sites which share the details on Dividend Aristocrats. So if you have money, make it work for you.
Airbnb and Turo
If you are renting a house and not using the entire hose, you may be able to sublet a part of the house in Airbnb. Make sure your house owner is ok with that kind of arrangement. There is some grey area that says you cannot clean the part of house that you are renting out and instead you have to hire someone do it. Please read more before you jump in.
Turo is the Airbnb of Car. If you own a car and haven’t been using it much, but paying for Insurance and Parking space, you can very well make some money by renting it for others via Turo. Please go through the Insurance and other terms before you join this.
Do you know any other Side hustle which can be done by people who are on L or H visas, share your ideas here in the comments section.