November 19, 2020

Start a Side Hustle: 5 Reasons to Act Now

Here are five reasons you should start your own side hustle today!

Flexibility

Having flexibility to work where and when you can is one of the greatest benefits of a side hustle. No matter what type of work you do regularly, side hustles can often fit between the cracks. Some people start hustling from home to spend more time with their family. Side hustles often form passive incomes or opportunities for remote work which means you’ll get more time to be with your kids or travel to visit those most important to you. Others like the flexibility of working anywhere in the world. Going to the same boring office every single day will never be a problem again. Need to schedule an appointment during the middle of the day? No problem! You control your schedule when it comes to a side hustle (which may even turn into your full-time gig!)

Financial freedom

If you feel stuck trying to pay off your credit card and have enough for groceries, getting involved in a side hustle might be the key. Struggling to make your minimum loan payments isn’t a new concept. Even if you are making your minimum payments, you could be saving thousands of dollars by paying more than is required. To many, finding financial freedom to place those payments into investments, a better car, or a well-deserved vacation is well worth the grind of a side hustle.

Build wealth

Once you’re free from debt you can work on building wealth. Having a second stream of income is a great way to start. During 2020, it might have been made more clear how important it is to diversify your income. It’s much safer to have multiple sources of revenue to keep you and your family safe if one of them falls apart. Your side hustle could be the first step in helping you have more financial security and financial freedom. Building wealth is also important for those trying to save for retirement. If you aren’t putting away retirement funds, use some or all of the income from your side hustle to get started. Time is almost everything when it comes to investing. Don’t believe us? Check out our blog post on why you should start investing today.

Improve your resume

Stepping out to start a side hustle might mean getting out of your comfort zone which is awesome for your resume. You might have to learn a few skills you have not experienced before. From client management to business finance, gaining skill sets could help your full-time gig and build up your resume for future business opportunities. Who knows! You might even find a new permanent career path you never thought of trying before.

Personal satisfaction

Many have found a lack of passion and purpose in the typical 9-5 job. Doing the same thing with no real direction or meaning behind it can be draining and depressing. Finding a side hustle that you’re passionate or excited about can bring back some of that energy you had when you first started. Maybe you really enjoy painting. Monetize that hobby and sell your paintings to donate to the charity of your choice. Regardless of where the money goes, doing something you love or trying a career you’ve always had an interest in can be reviving for the life-drained soul of a 9-5er.

Don’t know where to start for a side hustle? No problem. A quick search on the internet can bring up tons of ideas and where to start. Some people choose to monetize a hobby that they really enjoy like photography, painting, or pottery. You could also try things like project management or becoming a virtual assistant. Whatever you choose to do, remember why you started. It won’t all be fun and tanning in the sun with your computer, but all that work is worth freeing up your finances or building a resume to increase your career options.