6 Reasons Why You Should Have a Side Hustle
Updated: Jul 8
I touched upon this topic in the "About Me" section explaining why I created this website and highlighting my intentions in doing so, albeit I thought it would be good to further elaborate on why right now is a crucial time for finding a side hustle ideas as it will pay dividends (no pun intended!) in the future. I have been doing a lot of reading recently into the damages COVID-19 has caused the world, of course the most immediate & cardinal thing that comes to mind are the devastating effects families are facing due to lost loved ones, however stepping aside of that for a moment and considering other areas of impact such as economical, financial, professional etc I realised there are a lot sectors left in an unusual situation post COVID.
Which brings me back to the topic of this article and why it is so imperative to have a side hustle in today's world. By the way, this is by no means discrediting people living paycheck to paycheck, especially if they are happy with the life they are living, I am purely pointing out the benefits to having a secondary source of income for people who are interested. (I am not going to mention about it bringing in additional cash as this is an obvious benefit to having a side hustle)
So Tell Me?
Many people hear financial freedom and think they need to be making millions in order to claim to title, when the reality is being financially free solely means earning enough money through passive income to meet the demands of your lifestyle. Having a side hustle allows you to take your first steps in becoming financially free as this is money you do not have to actively work for and thus allows you to focus on other areas of your life.
This is going to be very subjective based on the country and job you are in, however as a generalisation I can quite candidly say wages do not increase more than the rate of inflation each year, in short this means your money's buying power decreases every year so the goods and services you can buy with it decreases too, so in order to maintain your current lifestyle you will need to earn more hence where having a side hustle fits in nicely.
In relation to point number 2, not only are salaries remaining stagnant but the cost of living is increasing at an exponential rate, key factors for this are people are living longer hence adding to the demand of the already dwindling supplies. All you have to do is check the graph for house prices over the last 5 years to see this in action.
I believe now more than ever it is important to posses more than one skill that you can leverage and sell as a service, this increases your arsenal of money driving vehicles at your disposal and makes you more equipped to deal with shortcomings from redundancies or other unforeseen situations you could find yourself in.
If COVID has taught me anything is that at any point in time what I consider to be "the norm" can be flipped on its head in a matter hours. How I get paid, where I work, who I can see, when I can see them the list is endless! So many things have been changed indefinitely since the wake of COVID which made me realise that I can't rely on one source of income that essential keeps me being able to function, the body showcases this intelligence by giving us 2 eyes, 2 ears, 2 kidneys and so on. Vital parts to our livelihood should always tried to be multiplied giving us the best chance of survival when things go wrong.
There are many things in life that weigh us down, however having an escape can be a way out of a dark tunnel we sometimes find ourselves in. Doing a side hustle that you enjoy and make money from, adds to your self esteem, confidence, self image and much more, which overall betters to way you think about yourself. Also, depending on which side hustle you go for, you could be meeting a whole new group of cool people which in itself gives rise to new opportunities.
Amazing! So Where Do I Start?
For those of you that are new to the website, I actually created it for people wanting to learn a side hustle that doesn't require an initial sums of money and can be done using your mobile phone. There are many articles outlining different methods you can utilise to start you off. Check it out here