The Benefits of Starting a Side Hustle

We all know that recently (at least in America) the Cost of Living (CoL) versus Rate of Pay (RoP) is horrendous. For being a First-World Country, we have a very large population that was once Middle Class that are now heading towards Lower Class. We once lived in a place where a single income household was enough, but now it seems like you need at least two or three; especially if you have kids! When someone who is single with no kids has to have two jobs just to live, that's a lot on a person. Did you know that because of the difference in CoL versus the RoP to a person, it's actually becoming more and more common for people who are single without and up to two kids to be found living with their parents again?

Photo by Nick Morrison

We are taught while growing up that we are learning how to live on our own as adults. That has become near impossible these days! Trying to seek assistance is a nightmare as well. I know people who make just too little to be able to afford somewhere to live, but on the flip side make just too much to be able to get help. The question therefore becomes: is doing a side hustle worth it? The answer is, it depends on what you are doing and how you are as a person. Some people consider being in an MLM a side hustle, which it can be. However, sometimes you have to have a specific personality to really succeed. That's a topic for another day, though.

Today we are going to discuss the benefits of having one. Side hustles can be a great way to give that extra little boost to your income. You can either use it to pay a specific bill or bills, depending it can cut down on how much of your rent comes out of your main income, or you can use is as just extra spending money. Some people use their side hustles to put money back into savings.

It also gives you a diverse amount of skills. Depending on what your side hustle is, you may learn how to hone your people and/or presenting skills. Those who work with MLMs generally have to make a presentation of sorts. When I worked with Mary Kay that was exactly what I did, I had to give a demonstration of my products. I was also doing parties with basically complete strangers! To a friend of mine, that became a personal challenge for her to get out of her shell and be more friendly and welcoming to people as she was very much an introvert.

Doing side stuff like DoorDash, InstaCart, or UberEats is great for those who are just out of high school and may not have a lot of driving experience. That may not be a work skill in the future, but it will boost their confidence in their driving capabilities! Especially while trying not to accidentally crush someone's groceries. It's a great way to learn safe driving.

If you happen to have a good income that you can survive with, but still have a lot of time on your hands, doing something on the side can help fill empty time and give you a little extra cash to spend or save. Saving in this economy is difficult with the Debt to Income ratio in most houses; sometimes that side hustle is what you need to be able to have to put back savings for accidents, rainy days, or if you're planning on taking a trip.

The best thing with having a side hustle I've mentioned a couple times: time management. Side hustles generallly are a "make your own schedule" thing which means if you have a full time job already, you can schedule everything around the schedule you already have. Quite a few drivers for Uber, Lyft, and DoorDash all do their driving when they are not at their full time job. How does this help with time management? Good question! If you have struggled with time management before, the side hustles help since you are able to work it around things. You have to learn to fit those schedules in around everything else while also keeping in mind that you have to have time for yourself or else you can burn yourself out.

As you can see, there are many benefits to having a side hustle in your life. While side hustles aren't for everyone, you may be able to find one that works perfectly for you!

As usual, my friends, stay healthy and keep hydrated! Until next time!