Who doesn't need extra money? I know I do. The need for cash but the lack of time might lead you to consider a side hustle.
From someone who has been there, I can tell you that there are definitely pros and cons. Weigh them heavily before you decide.
Should You Get a Side Hustle?
Yes, you should consider a side hustle if you're looking for a way to make more money or a way to potentially transition to another career field. Keep in mind that while a side hustle can be profitable and fulfilling, it can also add a lot of stress to an already busy life.
Make sure your side hustle is something you enjoy and that it provides enough income to justify the amount of effort you put into it.
What is a Side Hustle?
A side hustle is a job that brings in extra income outside of your regular, full-time job. A side hustle can be in any line of work. You could consider a part-time waitressing job as a side hustle. It might be freelancing, selling crafts, blogging, tutoring, or building a following as an influencer.
The side hustle should accomplish two things: It should make you happy and make you money. If possible, don't pursue a side job that will leave you drained and frustrated for your full-time career.
Likewise, something that you enjoy but you don't make money at is not a side hustle. It's a hobby.
There's nothing wrong with having a hobby, but I think it's important you learn the difference between the two. Too many people will start something and think it's a business or a side hustle when in fact, it's a hobby.
For example, if you're playing video games and recording yourself on Twitch doing it, but you're not making any money, or you don't know how you'll make money doing it…it's a hobby.
If you're playing games and recording yourself on Twitch and you have a following, sponsors, and are making money doing it, it's probably a side hustle (or your full-time).
What are the Benefits of a Side Hustle?
I started writing as a side hustle. I was working full-time as a marketing director, which wasn't truly my passion but paid the bills. I loved writing, so writing on the side allowed me to have a little extra income doing the thing I enjoyed most of all.
When I was promoted to Vice President of Marketing, I realized that my side hustle was more fulfilling than my full-time job. I quit and started writing full-time.
At first, I made less money as a writer than I did in my marketing career. Luckily, I had enough in savings that I could roll the dice to see if I could make it work.
Now, I not only work full-time as a writer but I also have a side hustle as a writer. That's correct; I love writing so much that I do it all day and then do it some more as I have time.
My point here is that one of the benefits of a side hustle is that you may get to try something you truly enjoy. If it's something you're good at, you might even be able to turn that side hustle into a full-time career.
A side hustle may give you the break you need from your 9-to-5. Probably most importantly to a lot of readers out there, a side hustle earns you much-needed extra income.
What is the Downside to a Side Hustle?
There are plenty of downsides to working a second job.
1. Risk of Burnout
The first, and arguably the biggest, is that you can burn out pretty fast.
Working a full-time job and then working some more on the side might be too much for you. This is even truer if you have other non-work responsibilities at home.
2. Potential Low Pay
Pay can be a big downside. Most hobby work requires significant effort with little reward. When my daughter was born, I started a side gig making hair bows and supplies for kids.
It was fun, and I was in very high demand. One night, as I was making bows until 2 AM, I realized that I was earning a profit on my supplies but not on my time. I called it quits a few weeks later.
3. You Can Lose Money
You can actually lose money on your side hustle. Multi-level marketing schemes are notorious for requiring an investment from their sales representatives. What looks like a great opportunity usually ends up being an expensive lesson.
Not only will it cost you money, but it will probably cost you quite a few friends. No one, but no one wants to get a text from someone asking them to join their nail polish aromatherapy candle basket party.
What are Some Good Side Hustles?
The brilliant thing about a side hustle is that it can be anything you desire. You just need to put the time and effort into deciding if it is worth it to you to try.
Creative careers like writing, photography, cake, and cookie decorating, DJing and tailoring will always be in demand.
If you have a hobby that you love, research the possibility of turning it into a side hustle.
A stamp collector might make a decent part-time income with a stamp collecting blog or by buying and selling stamps.
If you love kids, try part-time babysitting, tutoring, or piano lessons.
Look for the things that make you happiest, and then try to monetize them as you can. Are you the most organized person you know? You can make a great side income as a professional organizer.
Maybe you just want to make a little bit of money or fill your spare time, but you don't care what kind of job you take. There are plenty of those types of gigs available. Do a search online, look at a job board, or ask around.
You'll have plenty of opportunities for side hustles that might give you what you're looking for.
A side hustle can be rewarding but it can also be a drain. You have to decide what's best for you. If you're ready for a side hustle, check out our job boards! We'd also love to hear your thoughts in the comments.