Whatever your financial situation is you may have tried all kind of options from credit card consolidation to setting up various debt payoff plans but in the end you feel like your stuck in a rut.
How do I know this?
Because I’ve been there. I’ve suffered through thousands of dollars in credit card debt. I’ve lived paycheck to paycheck. In fact, I got all my debt paid off and then fell right back into debt.
On top of that, I’ve tried all kinds of plans to pay them off. From the debt snowball plan to using the money from my life insurance cash value account. Some of these things did work and some didn’t but there is one thing that did…
Starting a Side Hustle
For those of you who are not quite sure what that means I’ll quote it from a blog post from one of my other blogs.
A Side Hustle is a business that you do on the side of your current 9 to 5 job to earn extra income. – Side Hustle Academy
A side hustle could be anything from affiliate marketing to proofreading other people’s blog articles for a fee. It could be creating digital courses, driving for Uber, joining a network marketing company.
The options are literally endless here.
I’ve been running various side hustles personally since 2004. Some have been fairly successful, others not so much.
So why should you start one? Below are the reasons you must start a side hustle in 2017.
#1 It helps you sleep better at night
I don’t know about you but when I have an extra $1000 sitting in my bank account at the end of the day I sleep a lot better at night knowing that if something financially stressful comes up I’ll be able to get through it.
I won’t have to worry about where the money has to come from or how I’m going to deal with one more debt.
Put simply it eliminates the financial dread that can consume you.
#2 It helps you save faster
Secondly, having a side hustle lets you save more faster. One of the very first ways I started saving money was setting up Capital One 360 saving account and doing an automatic deposit of $5 per week.
As great as this is it’s an extremely slow way to save money. Now don’t get me wrong doing this will save you an extra $260 a year but there are some much faster ways to do this.
One of my very first online side hustles started way back in 2008 writing articles for this blog and earning extra income from Google Adsense. At the very least you could earn a $100 a month putting a little content on a blog to save you an extra $1200 a year.
#3 It gives you job protection
When it comes to your job nothing is guaranteed. Here today, gone tomorrow.
Personally, I have not been a W2 employee since 2009 but I have friends and family who are and I’m constantly hearing stories of the things they face in their jobs.
To put it nicely I don’t how those people do it. I give them all the credit in the world because they are working hard to provide for their families but in the end, they have to pay a price for it.
It could be mental and physical stress, missed time from their family, it could be depression, actual physical pain, divorce, or worse death.
With a side hustle, it gives you the power to say no to that job. Even if that means giving you enough money to survive until you can find a new job.
Now I’m not saying all jobs are bad but in the end, if you aren’t happy with your job something needs to change and a side hustle could be that vehicle to help you get there.
Are You Going to Start a Side Hustle?
So are you thinking about starting a side hustle? I know this can be scary but exciting idea because nothing is guaranteed.
However, I’m here to help you. If you haven’t figured it out by now I have another blog called Side Hustle Academy where I’ve made it my mission to help people find and start their own side hustle.
To help you get started I created a free 3 step guide. It will help you find and validate profitable side hustle ideas. So if starting a side hustle feels like the next step for you take a moment and head over to my other site and grab my free guide.
Click here to start your side hustle
Now it’s your turn, have I inspired you to start your own side business? I would love to hear about it in the comments section below this article.
Cade James Davis says
Great read Christopher, always looking for extra ways to make cash around the office. I just wanted to share something I’ve been doing recently. I run an office and have noticed that unused toner was piling up in storage. Looked into returning but that was no good. Tried out the site http://www.tonerconnect.net/ and was impressed. They had quick service and that payout was nice.
That’s an interesting side hustle idea Cade. I’ll have to look into that site a little more because I’ve got some old ink cartridges sitting around as well. Thanks for sharing.