For those of you unfamiliar with the term side hustle – a side hustle is an alternative way of making money that is not your primary source of income. It can one day become your primary source of income but is currently just a way to make extra money. Side hustles are quite often something a person is very passionate about doing.
Research shows that the most successful people in the world have multiple income streams. This means they are making money in more than just one way. Some of these ways may be rental properties, cash rent from farm ground and investments, but other ways are in the form of a side hustle. I know millionaires that have two, three or more jobs. Think about it … I bet you know people who have side hustles. Their side hustle could be related to their current job or completely unrelated. Perhaps your physicians sells her own brand of skincare products. Maybe your accountant sells his handmade pottery. Or maybe you know someone who is a baker, photography or jewelry maker on the side.
Are side hustles really worth it? Everything I’ve read has said, YES.
Side hustles can be a back up plan in the event your main source of income is no longer viable. It’s a great way to create a cushion for yourself and your family.
Some people need the job diversity to be the most successful they can be. You love your job and you love your side hustle but each of them is a distraction from the other in a good way. There are several successful people out there who have multiple careers. They get excited about working in each hustle because it’s stays fresh and new – not old and stale.
Who has the time for a side hustle? Many people with side hustles forgo all the time suckers in our lives – they watch less television and don’t spend hours on social media. Also, perhaps they don’t have many hobbies. Hobbies cost time and many, most likely they turned a hobby into a side hustle. At the end of the day, people make time for what’s important to them. If they can manage a career, side hustle, family, social life and hobbies more power to them. They are happy to do it!
Are side hustles for everyone? In my opinion, side hustles aren’t for everyone but I think that they should be embraced. I believe it depends on the personality of the person. Some people either can’t focus on more than one job or are poor time managers, and that’s okay.
There are some misconceptions when it comes to sides hustles. Some people feel that someone who has a side hustle probably isn’t good at their job and that isn’t correct. Or that someone must not be making enough money at their job because they have a side hustle also isn’t correct. Some people are just very driven and ambitious and have multiple interests. I know people who have more money than they know what to do with that have side hustles. Why? Because they enjoy them, a side hustle is a true passion and if you can make money doing what you love then do it!
If you are thinking of a side hustle, and have the time – embrace it and go for it! It could change your life.