Why do you keep hearing about rich people saying how their side hustle makes them a lot of money? A side hustle is basically a side job/gig that gives you additional income on top of your main job. Side hustles are usually things that you are passionate about, something that interests you, unlike your regular normal working life. It is important to have a side hustle so that you can have another source of income which can help you have better financial stability.
What exactly is a side hustle?
Essentially, a side hustle is a type of employment that is outside of your full-time job. A side hustle is generally more of freelance or piecework in general, giving you another source of income.
Having a side hustle is not the same as having a part-time job. Part-time locks you down as your employer will be the one deciding how much you work, earn, and what you do. But side hustles gives you the freedom to decide how much you want to work and learn.
With side hustles, it allows you to manage your finance better. Imagine having a side hustle that gives you $1000 a month, this basically allows you to use that $1000 to pay for your bills or even your debts. From here, you can see how side hustles can be very useful for you especially if you have responsibilities to pay for things every month.
In another scenario, let’s say you lost your job out of nowhere, you still have your side hustles making some money which is enough to cover your living expenses. Isn’t it great? You can then find another job in the meantime without worrying about you not being able to pay for your bills or your meals.
Benefits of having side hustles
- Boost your confidence
Not everyone is able to cope with having a side hustle. If you have a side hustle, you will definitely feel more proud of yourself as you are able to explore another way of making money as compared to your colleagues who are just surviving with that one paycheck. This will make yourself feel good about yourself as you feel that you are making use of your time and doing things that are meaningful.
- You create opportunities
By exploring side hustles, you are learning about things that are making you money. This can create opportunities for you to expand your side hustle into a business and who knows maybe you can turn your side hustle into some serious money-making business. This means that you have more options in life as you will not be stuck with your full-time job, making your future more secure as you have multiple sources of income.
- Flexible working environment
A side hustle gives you the freedom to decide what time you and how much you want to work. Usually, side hustles are usually operated by yourself. Imagine being a blogger and one week you just have to spend a couple of hours writing an article. That is really flexible and easy as you can plan out for yourself to see which day you want to update your website.
- Self Awareness & Development
Through managing your own side hustle, you making sure that you are the one that is responsible for everything that happened during your business. This means that there will be more self-discovery instances where it allows you to better understand yourself and find out how you can become a person that is more capable.
- Expanding Your Social Circle
When you are doing your side hustle, it is bound to have connections with other people, they can be your client, friend, or even your competitors. By doing so, you are actually expanding the number of resources you know people from everywhere through your side hustle. This can be very powerful as we all know how good it is to have people to look for when you need some help.
Examples of Side Hustle
- Blogging
If you love writing articles and talk about something you are passionate about, this could be a great side hustle as it requires not much time to maintain the business. However, I have to say that this side hustle requires a lot of time and consistent effort to build up the site before you start seeing good results.
It is also very important that you constantly provide your readers with great value and information that would benefit them. If you succeed in doing blogs, you could even quit your full-time job and go full-time blogger with just a few hours a week for work.
- Instagram influencers
If you love taking pictures and you have a lot of followers, then being an Instagram influencer could earn you a lot of money. To be fair, you probably have to look pretty good for people to notice your Instagram profile. The way it works is that Instagram influencers can partner up with a company and you earn money from posting on Instagram.
One crazy example is Ronaldo, the famous soccer player. He earns around $975,000 just by posting one sponsored post last year! Imagine just by taking one picture and it helps you to get so much money!
- eCommerce Business
You can also try to do some buying and selling business on platforms like Amazon. The concept of “buying low and selling high” can be a very good way to grow your money. But of course, it is not easy to find a product that sells well and you might even end up losing money.
The good thing is that you may end up becoming one of the top sellers and earning a lot of money. If not, you will gain valuable experience in running a business and it could be very useful for your other business ventures in the future.
Moving forward
You should definitely try to find your own side hustles so that you can have more income! Even if it turns out to be a failure, at least you learn something from it and you can do well the next time. If you want a better life, you gotta hustle your way through!
