Why Is A Side Hustle Necessary?
Have you found yourself having too much month at the end of your money? Or, do you want to do a little more, but the money is being an enemy of progress? No matter what your age, taking on a side hustle can be a smart move. In this post I will give you my 5 reasons why a side hustle is necessary for everyone.
What Does A Side Hustle Mean?
Firstly, let us understand the term “Side Hustle”. A side hustle is any type of employment undertaken in addition to one’s full-time job. A side hustle is generally freelance or piecework in nature, providing a supplementary income.
The beauty is a Side hustle is and can often be something a person is passionate about. Rather than a typical day job worked in order to make ends meet.
My Number One Reason for A Side Hustle Is Extra Income
My Number One Reason for A Side Hustle Is Extra Income. I believe that there is no such thing as enough money. Don’t get me wrong contentment is achievable. Nonetheless, our lifestyles evolve based on our monthly or annual income. It is no secret that everyone has responsibilities that are financial. We need to eat, shelter, clothing, safety, entertainment and so on. These things are not always free.
Uses for the extra money may include:
- Paying off debt faster
- Saving for a big life event
- Saving for s big purchase
- Starting an investment portfolio for the future
- Handling emergency expenses for the year
- Taking care of all your monthly bills and stop living pay-check to pay-check
- Investing into the start of a new business (to purchase tools, materials, or inventory for a new entrepreneurial pursuit)
- Taking a cool trip somewhere or vacation
- Feed your cravings
- Support a family member
- Furthering your education
- Diversifying your income to protect your financial well-being (Multiple Streams of Income)
The best way to develop a skill is by starting a new side hustle. This will force you to try something new and to continuously learn. Side hustles regularly take you out of your comfort zone and force you to think on your feet.
Additionally, developing new hard and soft skills from a side job can have a direct and positive impact on your current job or future employment. Ultimately, by taking on a new challenge, you can continue to learn outside of your regular job and broaden your skills for use down the line.
Build Your Network
One thing that is virtually guaranteed with a side hustle is that you will meet new people. Most, if not all, of these people you would have never crossed paths with if it wasn’t for your side hustle. Even if your side job is walking dogs or renting out a spare room on Airbnb, you will cross paths with more people that you otherwise would have. By making a basic effort to understand your clients and to find some common ground, you’d be shocked at how fast your network will grow.
Your Enjoyment and Sanity
Maybe you are lucky enough to love your job, but that isn’t the case for everyone. Some people I know simply show up to work every day just to earn a pay-check. Also, I know people who have very stressful careers and have a hard time taking their mind off their job. Either of these situations don’t promote a healthy, long-term lifestyle, and may result in a loss of purpose.
So, side hustles can provide an outlet or distraction outside of your regular job. They can leave you feeling empowered. With this, you are not only taking control of your finances, but you are taking control of your career, lifestyle, hobbies and interests. You can do this to not only earn money outside of your 9-5 job. Instead, as an outlet that can help to take some of the pressure off from work.
Additional Career Options
Lastly, you might not love and enjoy your 9-5, or maybe you are just interested in exploring another career field. One of the best reasons to start a side hustle is that it allows you to gain skills that would easily transfer into another career.
For example, your side hustles may allow you to see what a career in catering might look like. Where you are able to test this out and learn for yourself, without risking a complete career change. Affording you the opportunity to learn and make mistakes so that one day you can change careers with confidence and experience.
So, if you think side hustles are for the cash strapped, you need to think again. No matter what your age, taking on a side hustle can provide valuable benefits, some of them monetary, some of them social, others mental and all of them essential and necessary.
Above all, my advice is to take one of your talents or hobbies and turn it into a side hustle. By doing this you are taking care of yourself financially, mentally and socially.
Do you have a side hustle? Share it in the comments below.
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