If you're a reader of Caffeinate and Conquer, you probably already have a side hustle of some sort. Maybe you've been thinking about it but haven't pulled the trigger. So, first let's talk about what is a side hustle?
What's a Side Hustle?
A side hustle can be a lot of things. It's typically a way to make some extra money. It's usually flexible enough that you can do it in your spare time. Other times it's not about money and more about your true passion. It's about jumping into a love for woodworking, travel, photography, or so on. Many time, a side hustle marries these two things. It's a way to pursue a passion and make some money!
You can find my list of 18 Side Hustles to Pursue if you want some more ideas.
Why You Need a Side Hustle
1. A Sense of Accomplishment & Purpose
Having a side hustle gives you a true sense of purpose. It is something you are creating and fostering on your own, and few other things can bring that level of accomplishment. It's different than an accomplishment at your corporate career because it's something you created, grew, and achieved on your own.
"Do not work 40 hours for a company and then go home and not work on your own goals." TWEET IT
Typically side hustles are born from our passions. Sometimes they start as more of a "passion project" and evolve over time. Because you're pursuing something you have a strong passion for, you can achieve a much stronger sense of accomplishment from it. Now, if you don't know what your "passion" is or what to develop as a side hustle, I have 50 Side Hustle Ideas you can use for inspiration here.
2. Become More Productive In Your "Off" Time
It's estimated that the average American watches TV around 30-35 hours a week. That comes out to about 5 hours per day. While I love a good movie night or relaxing with a show after a long day with my husband, to me that's an amazing amount of time.
"Imagine if you gave up 1 hour of TV time a day. How much you could do!" TWEET IT
Imagine if you gave up 1 or even 2 of those TV hours a day. How much you could do! And, to circle back to our first point...watching TV doesn't give you any sense of pride or accomplishment. If you swapped some of that time out to start pursuing a side hustle you would not only make more use of your down time, but you'd be growing, learning, and likely making more money.
Not to mention I find that when I when I come home and am lazy (i.e. watch tv, mindlessly scroll through social media) then I maintain that laziness over the rest of the night. Likewise, if I come home and do something productive I find that productivity continues on and I tend to have a far more productive night overall. It's sort of chain reaction.
3. Diversify Your Income & Make Some Extra Cash
It's no surprise a side hustle can make you some cash. Whether you're helping your parent's friends with their website, doing hair for your friend's wedding, or doing some freelance writing, there's likely a paycheck there for you in one way or another. Not only is the extra cash great, but it also helps to diversify your income.
You may be worried about the security of your current job, or you don't want to be doing it forever, a side hustle allows you to develop a second revenue of income. By starting a side hustle you're developing and fostering this second form of income should anything happen to your 9-5 career. On top of that, you could be paving the way for your future full-time job.
4. Diversify Your Skills & Break Into a New Career
Just like how the side hustle allows you to develop another revenue source for income, it allows you to develop another revenue source - skills. My own path is an exact representation of this. You can read all about my story here. But in short, I went to school for Education, graduated with a teaching degree and taught in the public school system for 3 years. I started my blog in the meantime, as my side hustle, and the skills I learned and acquired allowed me to quit teaching to pursue internet marketing.
If you're looking to make a career change or want to break into a new industry, think about what side hustle would give you the experience you need. You may think you need to go back to school or that it's just an unreasonable goal, but many side hustles can give you the track record you need. I went from having zero experience in internet media and marketing to now being the manager of my team in my 9-5 job at an internet marketing firm.
5. Kill the "Boredom Bug" While Saving Money
"I'm bored." Ever thought it? Ever said it. Yes. Everyone has at one time or another.
"There is no such thing as bored, just boring people." TWEET IT
Well, "there is no such thing as bored, just boring people." Having a side hustle as a hobby, passion, or skill, means you always have something to do. My side hustle keeps me busy and helps me avoid boredom. I can't remember the last time I felt bored. I always have something to do and a project to work on. Additionally, there is always something to learn or a news skill to work on.
Becuase I have a hobby and side hustle to work on, I don't have endless idle time. With too much extra time you try to fill this void with things to fix boredom like going out, shopping, hitting up the bar, etc. These are of course fine things to do (and lots of fun!) in moderation, but they can be very expensive. Having a side hustle means I have less "boredom time" to fill. I not only make money from my side hustle but I save money because of this.