These days, it seems like everyone is looking for some type of second income to help make ends meet. For some, this is as simple as getting a part-time job. But for those with more entrepreneurial aspirations, it usually means some type of side hustle.
Chances are, you probably know someone who has started a business of their own, apart from their “day job.” You might have considered it yourself, if you’re not already doing it. If you’re not quite certain it’s a good idea, note that there are a number of benefits in store for those who are willing to give it a shot.
Here are 10 of them:
1. More Money
The most obvious benefit is financial freedom. Regardless of what you need the money for, everyone can benefit from having more cash. Whether you have debts to pay off, a vacation to save for, or you just want some cash in the bank for a rainy day, a side hustle can help make it possible. Not every side gig will make you a ton of money, but most will make a measurable difference. At the very least, it can help you straighten out your finances and get your life back on track.
2. Peace of Mind
Another benefit to having a side hustle is the peace of mind it can provide. Part of this is due to the additional income, of course. But if you’ve ever questioned your job security, you’ll find that this bothers you less when you have something to fall back on. Even if you were to lose your job or suffer a pay cut, you’d still have a second income to keep you afloat. In fact, you probably wouldn’t get behind on your bills to begin with.
3. Sense of Balance
A common misconception is that working more would only create more stress. However, this doesn’t have to be the case. If you don’t enjoy the work you’re already doing, all you have to do is choose a side hustle that you do enjoy. It beats having nothing to look forward to except the end of the day, so you can go home and complain, like everyone else. A side hustle will also prompt you to set boundaries between your two lines of work, so the problems of your day job won’t spill into your side business.
4. Sense of Purpose
Chances are, you have friends who constantly complain about how boring and meaningless their jobs are. You might even be one of them, at least where your day job is concerned. The problem with hating your job is that it’s harder to appreciate the importance of the actual work you do. If you choose the right side hustle, it’ll probably be something you feel passionate about. That kind of work gives you a sense of purpose. It feels less like work and more like an opportunity to make a difference.
When you run your own business, you’re responsible for everything. If you’re used to thinking like an employee, this might make you uncomfortable. You might be used to having someone to go to for help. But when it comes to your side hustle, it’ll all be up to you and there won’t be anyone around to tell you how to run it. Once you get used to this, it can do wonders for your motivation.
A side hustle will help you learn what your capabilities and limitations are. You’ll develop thicker skin and greater self-confidence. You’ll better understand how your other job works and why some things aren’t always “fair.” You’ll appreciate the importance of doing a good job and pleasing the customer.
6. Personal Development
Few jobs will demand from you the levels of responsibility and accountability that your own customers will. You’ll be forced to come up with your own solutions and make important decisions. This could lead to changes in other areas of your life. For example, you might find there’s no room in your life for staying out late, anymore. You’ll need those weekends for your side hustle. You might discover that you’re out of shape and undernourished, leading to changes in how you take care of yourself. You might even feel the need to change your appearance. It’s always possible to become the kind of person who can pull this off, provided you really want to.
7. New Skills
Once you take on a new line of work, you’ll probably find that you need some new skills. This may require taking courses, either online or in person. Don’t be reluctant to make this commitment, because it’s actually an investment in yourself. You might even find that some of those skills can help you perform better in your day job. Perhaps you can use them to negotiate a raise for yourself or qualify for a promotion. For example, suppose you want to create a website for your new business. Wealthy Affiliate can teach you how to do this and solve not only the needs of your own business, but possibly make you more valuable to your other employer.
8. New Opportunities
With new skills come new opportunities. You’ll learn new things, make new connections and put yourself out there in ways you never have before. You might find yourself doing business with individuals you would not have met any other way. These new relationships could prove useful, especially if they are with established professionals or prominent members of society. There’s no way to know where all of this could lead, which is why networking is so important to entrepreneurs. You never know when you might need that doctor, lawyer, real estate agent or private investigator. Your best chance of rubbing elbows with these people might be through your side hustle.
9. A Change of Pace
Another benefit of having a side hustle is that it offers you a change of pace. If you don’t care much for your day job, your side hustle will give you something more positive to focus on. Along with it will come new goals to pursue, new relationships to cultivate and new ideas to develop for future products and services. It’ll give you something exciting to think about during breaks at your other job, instead of grumbling about how Mondays suck and how you’d rather be home in bed. Your side hustle can provide the variety you need to maintain a healthy outlook on life.
10. A World of Options
When you establish more than one income source, you’ll have the power to move your life in more directions than ever before. In fact, when people talk about how “money is power,” I would argue that the only reason this is true is because money provides so many options. For example, if you make enough money with your side hustle, you might not need that day job for long. With money to spare, you might be able to afford a trip to Europe or an African safari. Your kids will have a better selection of colleges to choose from. These are just some of the options that can become available to you when you have an additional source of income.
So before you write it off as just another job, think about how much greater your quality of life could be with fewer financial worries and the ability to live a fuller life. Keep in mind that the price of settling for less is often finding yourself in a job you don’t like with a lower quality of life. Your side hustle might be your best chance to get out of that current situation and experience more of what life has to offer.
Side hustle sounds better than “second job” to me. Actually, it’s more about starting a business of your own and building it up to financial success. I like your 10 benefits. They all make sense. For me, though, the most important benefit is the first one you mention, financial security or freedom. Too many of us just scrape by. When we work for someone else we get paid what they think we’re worth. When we work for ourselves, there’s no limit to what we can earn if we focus and work hard enough.
The best thing is when the “side hustle” becomes the “main hustle” and we can quit the Just Over Broke (JOB).
Absolutely! For me, it’s always been about building up a business of my own. The reason I wrote it this way was to appeal to those who may not really think of themselves as entrepreneurs. I guess for some, the idea of running a business might seem over their heads, or too complicated. The first ones that come to my mind are the rideshare drivers (think Uber or Lyft), who are independent contractors that can work whenever it suits them, for as many companies as they can handle. I think a lot of them don’t particularly think of what they do as a business, even though they’re free agents, too.
As for me, I’m an affiliate marketer, freelance writer and independent delivery driver (usually food). I’ve always thought like an entrepreneur, but some of the people I know who are involved in similar ventures tend to think of them as “side gigs” where they can make extra money to compliment their day jobs. If that’s all they want out of it, that’s fine with me. The important thing is that they’re doing better than they were without having just planted themselves into a second job they don’t like.
10 great benefits to the side hustle here. More money is the main draw. I like your additional benefits in peace of mind, sense of balance and purpose. As long as you are running a legit side hustle there is longevity in it and it can be really rewarding. Hopefully the side hustle will some day become a full-time hustle. Wealthy Affiliate is a good starting point to make that happen, well done!
Indeed, it is! Virtually everyone I know who gets involved with WA finds that it’s not nearly as hard to make money online as they thought it was. Best wishes to you!
I agree that there are many reasons to look into a side hustle (or 2…). Finding new opportunities and personal development should be ongoing goals in life, and a well-suited side business is one of the best ways to really dive into both of those. Earning more money is always a welcome thing as well. Thanks for the reminders of how people can get out there are really live their best life!
Anytime! And yes, personal development should always be high on the list. It’s a necessity to accomplish any important goals in life. Thanks for stopping by!
When I first graduated college, I could only find a job that paid a minimal amount and that I was completely overqualified for. I was bored out of my mind! …And broke. Nicely, I was able to work a second job on the weekends waiting tables at a pizza place that I loved. That second job kept my work ethic in place, and when I finally found a decent position at a bigger company I was a stellar employee because of that work ethic.
Now that I have been working and growing my career, I no longer wait tables and have found that I am that person you talk about that complains non-stop about my work not being fulfilling. I was on the fence for a while about starting something up for myself and finally took the leap a few months ago. Hopefully, one day it will be my full-time gig.
But choosing a side hustle that you someday want to make your only hustle can get overwhelming. So this was just what I needed to read today. I’m going to re-read this every time I get frustrated to remind myself that I want out of this day job and fully into something I truly care about!!!
That’s great to hear! Glad you found something that you like enough to want to take it to the next level. Best wishes on your entrepreneurial journey!
These 10 benefits of side hustle really make sense. Side hustle does not mean a second job for me but building up a foundation to my financial success. The number two is the most of my interest. Day job does not offer a guarantee of financial stability. Extra income can give us peace of mind. Thank you.
Yes, that’s pretty much how I see it. I wrote it that way, mostly for the benefit of those who are more intimidated by the idea of entrepreneurship and more likely to try something new if they think of it as another type of job. I know a lot of people like that. One guy told me once that there are only jobs and scams. Imagine that! It’s an unfortunate way to see the world, but I guess if thinking of your side business as another job is necessary to be able to take it seriously, then I guess whatever it takes.
“A side hustle” I like that. It’s a nice turn of phrase, simple and unadorned. I joined Wealthy Affiliate a couple of months ago. So far, I have received 9 of your 10 benefits. Number 1, more money, I haven’t realized yet, but after such a short time I didn’t expect much. Okay, that’s a lie. I expected my blogging would be so wonderful and well received that I would become an overnight viral sensation, the money would pour in and Salon and Huffington Post would both be clamoring to hire me. Guess what? None of that happened. I know, I was surprised, too.
But except for that one minor setback. I’ve really been enjoying my side hustle as a blogger. I love writing and WA has taken all the drudgery and frustration out of building and maintaining a website. Actually, I have discovered that I am even enjoying that aspect of blogging. The lessons are clear, concise, well presented and perfectly paced for the beginner.
A benefit of a side hustle you didn’t mention, (Benefit 11?), is new friends. A new job brings new people into your life. In the case of wealthy Affiliate, it’s been mostly friendly helpful people who really seem to want to see each other succeed. As my followers and followees increase, it really feels like I’m making friends. Have you experienced that, too?
Absolutely! I have, indeed. I’ve found that while I don’t know many entrepreneurial-minded people in my personal life, I’ve met quite a few on WA’s platform. We need to have that connection somewhere and fortunately, the other members there are usually looking for the same thing. Thanks for stopping by!
Hello there, Thanks for sharing this awesome article I know it wold be of great help to the public as it has been of help to me.Side hustles can get rid of a lot of stress much faster. You save money on interest charges, and you might be able to throw some money in a safe place to protect one from future debt.
Absolutely! Thanks for stopping by! Glad you enjoyed it.
Hello there! this is an amazing article you have got here. I am sure others will find this post beneficial as I do. Side hustles can get rid of that stress and anxiety caused by debt that much faster. You save money on interest charges, and you might be able to throw some cash into an emergency fund to prevent future debt.
That’s very true, Joy! Definitely something to think about. Thanks for stopping by.
I love that this is called a side hustle, makes it sound much more interesting! I’ve tried many many things over the years to make a bit of extra money. From stock trading, forex trading and selling things on Amazon. I’ve tried them all! I still haven’t found the golden nugget business but I’ll keep trying until I do.
You will, Katie. Just a matter of finding what works best for you and giving that one all you’ve got. Best of luck to you!