Side Hustle is a term I’ve only recently discovered. It’s pretty self-explanatory when you think about it. A side hustle is a way to make money alongside your existing job. If you want to earn more money, then you need at least one side hustle!
There are so many reasons you may want or need to earn more money. For me it’s to clear off the last of some debts and then save up to buy our forever home.
Pay off debts
If you’ve got debts accruing interest every month, then it’s best to get them paid off as quickly as you can. The more money you are bringing in, the more money you can use to pay off your debt. Shifting debt is good for both your finances and your psychological well-being.
Have a safety net
We should all have a financial safety net. It can be difficult though to stash extra cash away once you’ve covered all the bills and put food on the table. A side hustle can really help you here. Tell yourself that any extra money you make from your side hustling is going away into your emergency fund. Set yourself a goal to begin with of how much you’d ideally like to have put away for emergencies. For many people, this often starts at £1,000. If these seems an impossible goal, set yourself small stepping-stone goals to get you there. Aim for £100 to begin with. Any financial safety net is better than none!
Treat the kids
If your kids are anything like mine then they’re always after something. Whilst it does them absolutely no good to get what they want all the time, it’s nice to be able to treat them once in a while. It can be the little things that can be so hard to say no to sometimes. When you’re on a tight budget, even something as small as a lipbalm can be too expensive. Having a side hustle will enable you to say yes once in a while!
I know I’d love to take our children on a trip abroad. It’s something we’d treasure and the memories of holidays are so precious in years to come. Again, holidays are a luxury and many of our budgets won’t stretch to it. A side hustle can get you where you want to go!
An extra income stream
I was self-employed for about five years and there were times when work dried up and finances were stretched even further than usual. At these times, my side hustles put food on the table, clothed the children and put petrol in the car. It’s absolutely no exaggeration to say that without my online income we wouldn’t have got through it. With zero hour contracts being fairly common, side hustles are becoming an increasingly popular way to make ends meet.
So, which side hustle do you choose?
If you’re new to online earning, it’s probably best to start off with one side hustle to begin with. Find your feet with that and then you can always add more!
So, which side hustle suits you?
Matched Betting – my biggest earner by far. This is definitely THE method I’d go for if you want to earn big money. You can earn around £1,500 in your first month and then £300-£1,000 going forwards.
Make Money Online – there are so many other side hustles to choose from, take a look here for more ideas. My favourites at the moment are WhatUsersDo and Swagbucks, but these chop and change all the time.
I’d love to hear which side hustles are your favourites. Please comment below.