I never knew until recently what a side hustle is. For all those familiar with the term that’s great, but for those that do not know what it means here goes.
A side hustle the way I look at it is an additional income source other than your regular job. There are ‘n’ number of side hustles that you can dive into or you may not. My attempt in writing this blog is to peel the onion and to understand if a side hustle is actually what it is made out to be.
Here are a couple of reasons as to why you may take on a side hustle:
- Dissatisfaction with an existing job: So, if you are one of those folks that has a day job and are either unhappy with your job or are in fear of losing your job, chances are that you have thought of a side hustle. A side hustle is something you can look forward to transitioning into.
- Need additional sources of income: You don’t make enough money and need additional sources of income.
- You are passionate about the side hustle: You recently discovered that you are talented and passionate about a skill and you would like to explore if you can turn your passion into an actual side gig.
There could be more reasons than those expressed above and I would love to hear from you if you know of any.
Here are a couple of reasons as to why you should not take up a side hustle:
- Looking to escape: If the reason behind taking on a side hustle on only because you are looking to escape reality and the sound of taking on a side hustle makes you feel good, then you should probably not do it.
- Not enough revenue: If you do the math and you are actually not making even minimum wage in the long term, then you should stop right there. You need to value your time.
- Scams: Beware of scams, that ask you to pay money upfront in exchange of a future of wealth. STOP right there.
A side hustle with a full time job is not easy. Set objectives both short term and long term of what you plan on doing with the side hustle.
Starting a side hustle has it’s benefits, but like anything it requires a fair amount of work. A great website that I have been following is the SideHustleNation. You can google them.
I would consider a side hustle as an additional source of income for anyone to achieve their financial freedom. I would love to hear from you about your Side hustle.