If you are wondering how to you can make extra income so you can achieve financial freedom as a nurse, here are 5 side hustles you can do while you work your full time job.
As dedicated caregivers, nurses work tirelessly to promote health and well-being in their communities. However, in today’s fast-paced world, many nurses are seeking ways to supplement their income and achieve financial freedom. By exploring side hustles, nurses can boost their earnings, invest, and build wealth. In this blog post, we will delve into five lucrative side hustles that nurses can pursue alongside their full-time jobs to generate an extra $500 to $1000 each month. Most of these side hustles are side hustles that I have done myself.
1. Telehealth Nursing
In recent years, telehealth has emerged as a convenient and efficient way for patients to access healthcare services remotely. Nurses possess valuable medical expertise that can be harnessed to provide telehealth consulting services. Platforms like telemedicine apps or online healthcare websites often hire registered nurses to offer guidance, answer medical queries, and provide remote patient care.
The American Academy of Ambulatory Care Nursing recommends prospective telehealth nurses become certified in ambulatory nursing through the American Nurses Credentialing Center. Telehealth employers often require 3-5 years of clinical experience.
Telehealth nurses make an average hourly pay of $34.91 in 2024 according to PayScale.
Not only does telehealth consulting allow nurses to diversify their income, but it also enables them to hone their medical skills and gain exposure to different medical scenarios. This experience can be particularly valuable for career growth and may open doors to new opportunities within the healthcare industry.
You can check out: Remote Nurse Online for job postings
2. Online Education
With years of clinical experience under their belts, nurses can leverage their knowledge by creating and offering online nursing courses. These courses can cater to aspiring nurses, healthcare professionals, or individuals seeking to improve their medical knowledge.
Platforms like Udemy, Teachable, Coursera or Kajabi (Which is what I use) provide excellent avenues for sharing educational content and earning passive income.
Related: How to Create and Sell an Online Course
I have made over $10,000 in the last 3 months with my online course: Employ Your Money Course
By sharing their expertise through online education, nurses not only contribute to the professional development of others but also generate a consistent stream of extra income. Additionally, establishing oneself as a credible online educator can lead to further opportunities for speaking engagements, consulting, and collaboration with other healthcare organizations.
3. Freelance Medical Writing
Nurses possess a deep understanding of medical terminology, patient care, and healthcare practices. This knowledge can be transformed into compelling and informative medical content for various publications, websites, and healthcare organizations. Freelance medical writing is an excellent side hustle for nurses who have a passion for writing and wish to explore a different facet of their profession.
From blog posts and medical journals to patient education materials and research papers, the demand for accurate and engaging medical content is vast. Platforms like Upwork and Freelancer offer opportunities for nurses to connect with clients seeking their writing expertise. Earnings from freelance medical writing can quickly add up and provide an avenue for investment and financial growth.
Post by @nursewhoinvestsView on Threads
4. Health and Wellness Coaching
Nurses are natural caregivers, and their expertise extends beyond medical diagnoses and treatments. Many nurses possess a keen interest in health and wellness, making them ideal candidates for health coaching. By becoming certified health coaches, nurses can guide clients in achieving their wellness goals, whether it’s weight management, stress reduction, or overall lifestyle improvement.
Health and wellness coaching can be conducted in-person or online, making it a flexible side hustle option for busy nurses. The satisfaction of positively impacting people’s lives coupled with the financial rewards can be a significant motivator for pursuing this side gig.
5. Real Estate Investing
While the previous side hustles primarily utilize nurses’ medical expertise, real estate investing offers an opportunity to diversify income and build long-term wealth. Real estate investing involves purchasing properties with the intention of generating rental income or capital appreciation. Although it requires upfront capital, the returns can be substantial over time.
Nurses can start small by investing in rental properties, real estate investment trusts (REITs), or even crowdfunding platforms that focus on real estate. The rental income generated from properties can serve as a passive income stream, contributing significantly to financial freedom. Additionally, as the properties appreciate in value, nurses can build equity and potentially create a substantial nest egg for the future.
Want more side hustle ideas for nurses?
Importance of Increasing Income
Aside from the obvious immediate benefits of generating extra income, increasing earnings as a nurse is pivotal for attaining financial freedom. Here are some key reasons why bolstering income is essential for building long-term wealth:
Accelerated Debt Repayment
Many nurses face student loan debts or other financial obligations. By earning more money through side hustles, nurses can accelerate their debt repayment, reducing financial burdens and improving overall financial health.
Build an Emergency Fund
A strong financial foundation requires having an emergency fund. Extra income from side hustles can help nurses establish and grow this fund, providing a safety net during unexpected financial challenges. READ: Why Emergency Fund is Important
Investing and Building Wealth
To achieve financial freedom, investing is a crucial aspect. The additional income from side hustles can be channeled into various investment vehicles, such as stocks, bonds, mutual funds, and retirement accounts, to grow wealth over time. My favorite way to invest in the stock market is through investing in index funds.
Related: How to get Started with Investing as a Nurse
Diversification of Income Streams
Relying solely on a single income source can be risky. Side hustles offer nurses the opportunity to diversify their income streams, ensuring greater financial stability and security.
In Conclusion,
For nurses aspiring to attain financial freedom, side hustles present a viable pathway to increase income, invest, and build wealth. Telehealth consulting, online nursing education, freelance medical writing, health and wellness coaching, and real estate investing are just a few of the lucrative options available. By diversifying their income and wisely managing their finances, nurses can forge a path towards financial independence, providing themselves with a brighter and more secure future. Remember, financial freedom is not an overnight achievement, but with determination and dedication, nurses can make significant strides towards a financially stable and fulfilling life.
