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Hear me out!
Well, this might not be the first article like this you are reading, but I am still writing it because of a recent incident that happened to a friend.
A close friend of mine lost his tech job a month ago because his tech firm was downsizing, and he was asked to resign even though his performance on the team was incredible. My friend recently had a new-born kid.
My friend was actually not bothered by this. He had started a side hustle a year ago, and he had been doing freelance projects from Upwork, a popular marketplace for freelancers in fields like writing, graphic design, and web development.
As a matter of fact, he has been making more than what his company was paying him, and on top of that, he gets to choose his own projects.
A side hustle can be a part-time business or job that a person engages in, often in addition to their full-time job or primary source of income. There can be numerous reasons why side hustles can be beneficial.
However, these are the five points that I believe are the most important.
Increases Financial Stability
A side hustle can provide an additional source of income, which can be especially helpful in times of economic uncertainty or financial difficulty. This extra income can be used to pay off debt, save for the future, or simply cover everyday expenses.
Encourages Professional Growth
A side hustle can also be a way to gain new skills or explore different career paths. By working on a side hustle, you can gain valuable experience and build a portfolio of work that can help you advance in your career or make a transition to a new field.
Creates Personal Fulfillment
Many people find that side hustles are a way to pursue their passions and interests. Whether it’s a hobby that you love or a cause that you’re passionate about, a side hustle can be a way to make a positive impact on the world while also finding personal fulfillment and satisfaction.
Gives You Flexibility
A side hustle can offer flexibility in terms of when and where you work. This can be especially appealing for people who are seeking a better work-life balance or who want to have more control over their schedule.
Provides Networking Opportunities
A side hustle can also be a way to build relationships and connections with other professionals in your field or industry. These connections can be valuable sources of advice, support, and potential opportunities for the future.
Well, side hustles aren’t new, and there are chances that you might have started one during the pandemic. There is no better time to work on your side hustles when incidents like layoffs happen to keep you and your family afloat.
I started working on my side hustles in 2020; writing is one of them, and I can say this to you: even an extra $50 or $100 a month provides a cushion for unexpected expenses that can happen.
If you have a side hustle, I would love to learn about it. 🙂