Whether it is working from home or at an office, we all have one main source of income. But the times are changing and many have more than one job or a side hustle.
A growing percentage of millennials are going for a second job or side gig. It could be for many reasons, for the money or for getting experience in a field or just for the fun.
Having a side hustle does not mean it will not stand a chance of becoming a mainstream income earner. I know many who have started their side hustles, and later they became so profitable that they make more than the main sources of income.
So why would anyone have a side hustle?
Here are few things to consider,
Extra Source of Income
A side hustle or a side job inevitably means more income. Even if it is a small addition to your income, it will be a big help. Having a side hustle for more income is the primary reason that most of us look for one.
Blogging has earned more than $45,000 for me in just 18 months. That’s what a side hustle can do for you.
With so many options now both online and offline, you can find something which suits your schedule and make that extra cash. Who wouldn’t want an extra stream of income?
Change of Work
No matter how much you love your job, sometimes it can get little stressful. It is sometimes advised to do something different, away from your main line of work to be more creative.
Some might think, it can be too hard to work on too many things. On the contrary, it can be an excellent way to take your mind off the usual work, think more creatively and be more productive.
For example, teaching is something a lot of people enjoy and earning a good income teaching kids online is flexible and stressfree. Isn’t it?
I am sure no one can have a debate on this. There is a BIG possibility of making your side hustle a huge income earner. And to top it, it can be passive. I could give you hundreds of examples of entrepreneurs who started their side hustles along with the day jobs and now make a lot more than their primary income.
If there is a little idea in your head to start your side hustle, then there is always a possibility that it can become something much bigger than a side gig. Don’t give up on the possibility.
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Stable Financial System
When it comes to planning for the future, a single source of income does not suffice these days. Right from your student debt to planning your kids future, you need extra income to make it a smooth journey.
Right from the biggest companies like Microsoft to retail giants like Walmart had massive layoffs in 2016. In today’s unstable economic times, depending on a single line of work may not be a good idea.
A side job or a side hustle, no matter how less they pay, can increase any of your funds over the period and this, in turn, can create a more solid financial stability.
Pursue Your Dream
Not many of us work in our dream jobs. Mostly, we work for the money. Did you ever imagine doing something different just on the side?
A side hustle can be an excellent way to pursue something which you cannot in a day job.
Worried that you may not get paid for your work?
Whether it is freelance writing, crafts, pet training or traveling, in these times you will be surprised at the options you have, to chase your dreams and still make money.
Advance Your Skills
Do you want to make progress in your career, even if it is working from home, you can always add new skills to your repertoire to get ahead?
Learning a new skill is quite flexible these days with so many online learning platforms like Udemy, Lynda, etc. There are some amazing and absolutely useful resources like Work-at-Home School to start your side hustle.
But a better way to learn something new than trying is, getting hands on experience. A side hustle can be an ideal way to try your hand at something new. The biggest advantage is that you can do a lot of experimentation, have lots of practical experience and also stride ahead in your career.
There are many other benefits of having a side hustle like better time management, building new relationships.
When you juggle another gig along with your work, the key skill you need to have is, manage your time in the most efficient manner. To be most successful at whatever you do, having a good control over time is vital.
Side hustling also helps you to build stronger work relationships. Networking with clients/customers in your hustle can go a long way and can give your side hustle a solid base.
What’s my personal take on this?
I started my blog as a side hustle and now I am making a good income from it(over $36,000 in the first year). The flexibility that I get working online is the biggest plus for me. Blogging has become my passion and I enjoy it immensely.
You might want to keep some things in mind when going for a side hustle like flexibility, choosing the right one especially if you are looking to add another source of income, making it worth your time, etc.
Whether it is to pay off debt or learn a new skill, the bottom line is, I find side hustling as a definite need for more than one reason, and it is all the more easier to start one right now.
Side hustles you will love,
Online Tutor with VIPKID
If you love teaching or want a super flexible side hustle, you need to sign up as a tutor with VIPKID. You don’t need any formal teaching experience with this company and the pay is around $14-$22 per hour. This could a great hustle if are a stay-at-home mom giving you a lot of flexibility.
I would say this is the most enjoyable hustle. I mean, who wouldn’t love spending time with kids? It’s a pure bliss. But what makes this a very lucrative hustle is the money and the abundance of opportunities. You can start your own childcare business at home or sign up with companies like Sittercity.
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Do you have a side hustle? I would love to know about your hustle.