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Last Updated on August 17, 2022 by coffeepo
Accountants are one of the highest-paid and most in-demand jobs. From corporate big-wigs to Hollywood actors, everyone needs an accountant. But, it’s also one of the most stressful jobs out there. After all, you’re dealing with people’s money and taxes.
If you screw up some numbers, you could cost your client millions or—worse yet—face jail time.
So, if you’re looking to get out of the business and find another way to use your skills, the good news is you have options. Or you might just be looking for side gigs to support your income. Regardless of your reasons, there are a ton of choices available.
With your skillset and with the number of alternatives on the internet, you won’t have a hard time landing a side hustle.
Side Hustling 101
Having a side gig is normal in this day and age—maybe even expected. In fact, 50% of millennials have side hustles to support their income. So, you might be asking, what are the best side hustles for accountants?
Some of the more common jobs might not be worth your time, like answering surveys. To help narrow down your options, try these 7 side hustles for accountants.
- Part-time Bookkeeper
What’s a better use of your accounting skills than being a part-time bookkeeper? You already know all the information an accountant needs to do their job. So, being a bookkeeper can be a natural transition for your existing skillset.
Depending on who hires you, part-time bookkeeping can earn you an average of $25/hour, on the low end. With the higher-paying clients, you can potentially earn $100/hour.
To help you find the best offers, you should set up a website to build your brand and showcase your CV. Then, you can apply to some popular freelance websites like UpWork and Freelancer.com.
- Accounting Professor
A gig as an accounting professor is a great side hustle for accountants. Already having experience as a working accountant can provide valuable insight to university students. Learning first-hand experiences from established accountants can motivate and give students real-world examples of the uses of accounting in business.
Accounting professors, on average, make around $129,950/year. This amount can be an appealing enough number to drag you away from your day job.
- Part-time Forensic Accountant
Now, here’s one of the more exciting jobs. Have you ever dreamt of being a sleuth that cracks down on crime? Well, you can use your accounting skills for a part-time job as a forensic accountant.
Agencies like the IRS and FBI are always looking for help cracking down on money launderers and tax evaders. This is why they need forensic accountants the study the books and follow the numbers. If you work as a forensic accountant, maybe you could catch the next Al Capone?
On average, part-time forensic accountants make $28.41/hour. If you’re looking to be a number-crunching superhero, why not look into becoming a part-time forensic accountant?
- Start a Youtube Channel
These days, Youtube tutorials are all the rage. People are always looking for quick video tutorials. You could use your accounting skills to start a side hustle as YouTuber as Professor Farhat has done.
Creating a web series that teaches the basics of accounting can be a lucrative business venture. By and large, a majority of people have no experience in accounting—that’s why it’s one of the most in-demand jobs. Plus, it’s one of the top 10 most lucrative niches on Youtube paying out a higher CPM than some topics do.
It’s hard to estimate how much you can earn on Youtube. But, Pewdiepie, one of the most prominent YouTubers, makes roughly $3,319.71/minute of a YouTube video. While it’s not a good measure of the average YouTube experience, it shows the highest potential earnings you can get on the platform.
So, if you’ve ever thought about being a content creator, why not try out being a YouTuber?
- Skillshare Teacher
This combines the idea of being an accounting professor and a YouTuber. Skillshare is a platform for people to learn skills from professionals from various fields. From illustration to music production, you can find a wide variety of classes on the platform.
And, of course, you can also find accounting classes on Skillshare.
Skillshare teachers earn between $0.05-$0.10 for every minute of their class watched. This means that you can potentially earn $1000 for just a short 10-minute video. So, why not try your hand at being an online teacher for Skillshare?
If you’re interested in teaching and content creation, Skillshare can be a great side hustle for an accountant.
- Remote CFO for a Start-Up
Accountants make for great CFO candidates. Plus, start-ups are always looking for remote CFOs. Applying your accounting know-how can be an excellent opportunity to become a remote CFO on the side.
As a CFO you’re going to need to handle many jobs for a company. Some of your responsibilities will include:
- Supervising a company’s accounting department
- Managing the company’s insurance
- Doing the tax reporting
- Budget preparation
- Maintaining financial reports
It’s pretty much what you’re doing for your primary job. As an added benefit, virtual CFOs are some of the highest-paying part-time gigs. Of course, it depends heavily on your experience what you’ll be paid and the budget. Some start-ups have tight budgets, but if you can get in part-time, the average rate for outsourced CFOs is $3000 to $5000 per month.
If you’re looking to transition away from your everyday accounting gig, a job as a virtual CFO can be a viable option.
- Start a Blog
Another way to make some pocket money is through a blog. Finance blogs are also popular and easy to monetize!
You can even start a tutorial series through a blog. As an accountant, starting a blog on the basics of accounting can be a good topic to cover because it’s an “evergreen” type of content (i.e. always relevant online!).
You can start a blog series on:
- Financial advice for young professionals
- A how-to guide on accounting
- Reviews of the products you use for accounting
- Tips for small business owners during tax season
Making money on a blog can be a tricky business. But, by using Google Adsense, you can earn $3/visit on average. You can also sell digital products to visits or even private coaching sessions to those who want to learn from you.
Make Money On The Side As An Accountant
Despite being one of the most in-demand and high-paying jobs in the world, you always want to keep hustling. Whether you’re looking for new career opportunities or just supplementing your income, your accounting skills will come in handy while looking for side gigs.
A side hustle can be your ticket to more financial freedom or even a job outside of accounting. Now you’re armed with the tools, go out and do it! See you in the winner’s circle 🙂
