Are You Truly Reaping the Benefits of Your Side Hustle?

SIDE GIGS
Is Your Extra Job Worth It?

Hey there, I’m Marc Andre. You’re probably here because you’ve heard a thing or two about ‘side hustles.’ Whenever money-making chats arise, jumping into a side gig is often recommended.

Though it’s true side gigs can boost your cash flow, it’s crucial to remember each individual’s circumstance is unique. There are several factors to consider to see if a side gig suits you. Let me guide you through them.

So, you’re itching to start your side gig, but where to start? Here’s a handy ‘side hustle quiz’ that’ll offer personalized ideas tailored to your situation.

So, why should you listen to me? I’ve dabbled in a fair share of side hustles, from starting a web design blog in 2007, through starting a photography blog in 2012, to selling on Amazon in 2015. Each of these gigs started out small and ended up becoming profitable ventures for me. They transformed my career and improved my financial situation.

But before you dive in, let’s think about this: do you have better alternatives for your free time? Here are some things you could be doing instead of a side gig:

1. Work more hours at your current job: If you have the option and get paid overtime, this might be a more profitable choice.

2. Continue exploring education or training: This could boost your value in your career field, opening the way to promotions or better job opportunities. But remember, this won’t bring in immediate cash. If you’re in urgent need of extra money, this option might not be the best fit.

3. Spend more time with loved ones: While this won’t earn you extra cash, remember that life isn’t just about earning.

4. Pursue a hobby: Can your hobby bring in some earnings too? It’s a win-win, right?

5. Do nothing: If this is the case, a side hustle is absolutely a step up.

Now let’s talk benefits. Apart from extra cash, side gigs can:
– Diversify your income stream: This can bolster your financial stability, reducing the risk if your main income source stumbles.
– Develop new skills: Side hustles are a fantastic opportunity to learn useful skills.
– Bring variety into your work life: If the thought of doing overtime in your day job drains you, a side gig can spice things up.

So, what’s your goal with a side hustle?
– Just some extra spending cash?
– Filling in budget gaps?
– Transitioning to a new career?
– Or simply to enjoy a hobby?

Remember, choose a side gig that aligns with your goals.

Let’s talk numbers. It’s important to understand how much you’ll be making per hour and if it’s worth your time. Moreover, flexibility counts. Lower-paying side hustles may offer a high degree of adaptability that can suit your situation.

Could your side hustle be a potential business? Acknowledge that you might not earn much at the start, but the high later payoff can be worth it. Plus, you’ll be gaining new skills that could land you a better job.

And finally, let’s take a look at your future finances. If your side gig brought you an extra $500 per month and you invested it, your $500 per month could become $79,240 in 10 years!

So, are all side gigs worth your time? It really depends on:
– How much you could earn
– Time versus earnings
– Potential future income
– Other benefits it provides

Don’t skip this crucial consideration when choosing a side gig. Finally, keep in mind that there’s a wide range of options available – from starting a blog to walking dogs or paid online surveys. Find the one that’s just right for you!