3 Side Hustles for Financial Success Proven to Work
The hype today, is how side hustles help reach goals! Here we talk about 3 types of side hustles for financial success.
Side Hustles & Financial Success
Definitely, having a side hustle can help you reach financial freedom! Especially now it is all over social media and constantly pushed by financial “gurus.” Well, how does a side hustle help you in your financial journey?
It is a known fact that current wages are not keeping with cost of living according to the U.S. Bureau of Labor Statistics.
Therefore, many look for other sources of income to help them financially. This is where the side hustle trend has skyrocketed. So let’s talk about the basic side hustle categories.
Creative Side Hustles
For those who enjoy being creative, this category is both rewarding and brings in income. This passion can make it feel more fun than work. It can serve as an outlet and the benefit is that you get that extra dinero!
- Knitting/Sewing
- Woodworking/Metalworking
- Digital/Physical Art
- Other Arts & Crafts
The downside is that many times, this category requires that you buy supplies up front. For example, knitting, painting, woodworking, etc, requires a ton of supplies. However, the good news is that there is a trend of shopping small and paying artists for their work!
Online Side Hustles
Online side hustles are my personal favorite. These can be done at home or anywhere remotely. Additionally, it gives you the freedom to set your schedule and can have very little startup costs. These include:
- Virtual Assistant
- Ghost writer
- e-commerce
- Social Media
With online side hustles, you can be a virtual assistant doing data entry, managing social media accounts, or even product listing on e-commerce websites. With e-commerce, drop-shipping is popular. However, it may be difficult to get it going at first. Lastly, social media has helped so many gain financial success.
Service Type Side Hustles
Finally, we have service type side hustles. These take more work and can eat up more time. However, many have used these types of side hustles to make extra cash. These include:
- Delivery Services (Uber, InstaCart, DoorDash)
- Mobile Notary
- Handyman Services
- Baby/dog/house sitting
- other odd & end jobs
Additionally, providing a service can requires more work and travel. Regardless, these are easy to start and find via facebook and other social media. Also, most of the time it is fast cash.
Side Hustles Do’s & Don’ts
Finally, now that we have an idea of some types of side hustles, I do have to address the downside. Unfortunately, financial gurus constantly push for side hustles, to the point where it has created a toxic culture. Therefore, there has to be a balance and should be used wisely. So here are a few basic Do’s & Don’ts.
| Do’s | Don’t |
|---|---|
| Pick a Side Hustle that fits your schedule | Get lost in the grind and overwork yourself |
| Have a goal/reason for a side hustle | Forget to allocate rest days |
| An exit strategy | Have too many side hustles |
| Research | Buy too many supplies/products |
Remember, that you should enjoy life! Side hustles are a great supplement to help you achieve your financial goals. This can be paying off debt or saving for a big purchase/investment.
On the other hand, they can be turned into real businesses if planned correctly. For example, I turned my reselling side hustle into a small business. Similarly, this can be applied to all side hustles, but it does take work. Although it is not as easy as these financial gurus claim, side hustles continues to help many reach financial freedom. This can help you too!
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