Hi beautiful bunch,
Having a side hustle is quickly becoming a new form of self-care IMO. It has the power to transform your finances and ultimately your life. For the reasons I will discuss below, it is even more crucial for us women.
Working Monday to Friday, 9-5 (nowadays more like 9-7), week after week has become such a norm for us that we rarely stop to think if this is the life we want. We accept it because this is the way things are and everybody is doing it, so we join the rest of the people on this monotonous path.
But what if there could be a different way of doing things, of making money, and of finding purpose in life. What if there could be a way of starting something today that could let you take a step back from the rats’ race and get your passport to freedom. The answer to this is…
A side hustle.
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Meaning of side hustle.
A side hustle means making money alongside one’s main form of income and today’s world, with the rise of social media, offers a magnitude of opportunities.
Many people who start a side-hustle do so to make a bit more cash and gain a bit more financial freedom. Of those who truly dedicate time to it, eventually it can become their new job giving them even more financial and time freedom than they could ever imagine.
So, if you are still not fully convinced about the benefits of multiple streams of income read the following 25 benefits.
25 Benefits of having multiple streams of income.
1. Make more money
This must be one of the number one reasons why people consider having multiple streams of income. At times it is not even about the extra cash but more about the feeling of freedom. You feel less tied down.
However, having that extra cash can help you elevate your life. Depending on your area of work, your salary might not be quite enough for you to have the financial comfort you would like. A side hustle is a great way to increase your income.
Maybe you are dreaming of a vacation, or possibly you want to save for a house or at least a deposit or maybe you want to get out of debt.
2. Offset the gender pay gap
Ladies, let us face it, the gender pay gap is still a huge problem and I hate it. I also do not think this issue gets enough attention and there is too little action being taken to bridge that gap.
And to any men reading this, you might not agree with the gender pay gap but if you are not actively doing something at your workplace to change this and help women, you are still part of the problem.
But anyway, getting back to us ladies.
We are certainly are victims of patriarchal autopilot and we are disadvantage by the advantage given to men. As we fight for pay equality, we can offset any pay gap by getting a side hustle. And who knows we might even be able to grow it to our multimillion-dollar empires ;).
Who’s laughing now …
All of this can be a possibility with another source of income.
3. Possibility of passive income
Ok.. in reality, there are not many ways of making money that is completely passive in the way that we would like i.e., doing nothing at all as $$$ pour into our accounts. Maybe if you win the lottery or inherit a large sum of money. But this is not a reality for most.
What you think of passive nowadays is the idea that you put in time and effort into something, and that something will make you money and continue making you money down the line. You’ll be able to continually capitalize on something you spent producing years ago and so the income will continue to grow.
This is so exciting and there are so many ways this can be your reality nowadays.
4. Good foundation for entrepreneurship
Don’t just think of your side hustle as a form of income. Treat it like a business and my tip would be to do that from the get-go. Take it seriously and invest in it. Get into that business mindset because it will set you up for success. It will set you apart from all the other people who are not committed enough to see it through to its full potential.
Entrepreneurship is a huge learning curve. It is easier to master it if you do it in small steps when you still have your other job. This way you are not putting all your money into this new form of income.
If you treat it like a business and get serious about it, there is no limit to what you can do with it.
5. Empower you to stand up for yourself at work
I cannot be the only woman who has had to let a sexist comment slide by at work because of fear of getting fired. I hate that I was in that position and looking back now I wish I addressed it in some way. But I was young, I was just starting out and I needed that job. And to be honest I cannot take the blame for it because the only people to blame are the people who made those comments.
Here are my favorite picks
Major *facepalm*. How do you even respond to that?
Have you experienced something similar? Let me know in the comments below.
Knowing that you have this financial input to fall back on can be extremely empowering and it can give you that boost of courage to address any issues that arise at work.
6. Can help you quit your job
Side hustles are not get-rich-fast schemes. It is important to keep that in mind. This is why I recommend you start one even if you are financially set up and comfortable.
Many of the possible side-hustle especially ones online usually take years. It takes huge amounts of time, patience, and perseverance to get them to a level where you can comfortably live off them. Or to replace your salary entirely.
However, it is a possible goal for sure. Imagine being able to leave the rats’ race for good and be completely free to grow your side hustle to achieve the life you want. The growth opportunities are endless. You become the Boss of your own life!
7. Not many people do it
This is still a perfect time to capitalise on this. Many people have not yet discovered the power of side hustle and the power of utilising social media. It is becoming increasingly competitive, but it is certainly not as competitive as it could be in the future. Given how the world is moving forward this might quickly change as everyone will want a slice of the cake. There are plenty of opportunities too for every personality type so get on that bandwagon now. This is the perfect time to start as you’ll be way ahead of the game when everyone else finally catches on 😉
8. The world is changing fast
With technological development, our world will be very different in 10 years’ time. Some studies have estimated that 1/3 of US workers and 800 million workers worldwide could be displaced because of automation by 2030. Many jobs will be lost forever, and it is difficult to predict which ones will go first.
Our society has seen these changes in the past too and we have always got through them, In the end, they have created more job opportunities not less. The same is likely to happen this time and new jobs will be created.
However, for many, it could mean having to retrain and change fields. That can be scary, and it can take some time. If you have a side hustle it could make these transitions easier for you as you have a strong financial backbone to get you through.
9. Peace of mind
Having this additional income can take a huge burden off of you.
If you have extra income, you feel more secure. It might help you enjoy life more and importantly in the current job climate, it can give you a sense of job security. You have this income to fall back on and you can always scale it up.
10. Master of your own time
Most side hustles will allow you to manage your time the way that suits you. You can fit them into your day in a way that works for you and you entirely. In addition, you may find you are more productive and more conscious about how you use your free time. The busier your schedule the more you’ll get done as you maximise every moment.
11. Work-life balance
Continuing from the point above ^ You will have more opportunities to become the master of your own time so work-life balance could improve. Especially if you invest in your side-hustle. With time it could help you reduce the hours you work on your main job without affecting your income. It could allow you to have even more freedom and time to do and pursue the things that you love.
12. A sense of general balance
This might surprise you because in a way if you are working a full-time job with a side hustle on the side, that’s just extra work. However, your side hustle will most likely be something you enjoy doing and because of that, it will not really feel like work. It is the only way to sustain it long-term. It is a good escape from your job, and it might even be something you look forward to at the end of the day.
13. A sense of purpose
Most jobs can get boring and monotonous and then you add the office politics and the colleagues you do not get along with. A side hustle can help you find more purpose and add meaning to life. You are not just working to pay bills but taking control of your life and doing something you enjoy.
Your side- hustle will be something you feel passionate about. It is still working but it doesn’t feel like work because, at the same time, it is fun.
14. Ownership
It is completely your responsibility. There is no one telling you how to run it. No one telling you how to do things. Equally, there is no one to blame but yourself. Any hurdles will be an amazing learning opportunity. Also, you will have to find your own way to motivate and discipline yourself. These are valuable skills to have.
15. Relieves stress and brings happiness
Money worries are one of the biggest causes of stress. Additional income is one way that a side hustle will take away some of that everyday stress. Furthermore, doing what you love will allow you to get completely immersed in it. This will help to take your mind of any worries and bring you a sense of joy and accomplishment. This will add hugely to your happiness.
16. A way to express yourself
Whether you are on YouTube or Instagram as an influencer or writing a blog or making courses or selling digital products or physical products. Whatever it is it’ll be a way to get to know yourself and express who you are through your work. You can grow a tribe and meet like-minded people and that is hugely empowering.
17. Builds resilience
Whatever you chose as your side-hustle, it will not always be easy. There will be challenges on the way. You may not always have the support of the people around you and you will learn who your true friends are. It is important to have your feet firmly on the ground, face challenges head-on as they arise and filter out any negativity or criticism and stay focused on your goal. You’ll be amazed at how resilient you become.
18. Personal development
It will be a huge learning curve, but it will be so exciting, and it will enrich your life. You could learn so many new skills depending on your side-hustle, but it could include things like building a website, marketing, writing, investing, managing finance, sales, negotiation, photography, business, and much more.
You’ll probably need to take some online courses and I certainly recommend investing in them, especially from people who have done it and succeeded.
Not to mention your organisation and time management will be top-notch.
19. Gives you a sense of confidence
This encompasses everything mentioned above. A side hustle will give you a huge boost of confidence because you will be helping other people, learning new skills, opening up new possibilities, becoming more financially independent. You’ll be able to travel and invest in yourself and have more experiences in life. Plus, it gives you a HUGE FINANCIAL FREEDOM! Not having to ever rely on anyone else.
20. Opens more opportunities
You will have plenty of possibilities to pursue new experiences, you’ll meet new people, and you’ll travel. This will open a world of opportunities for you. There might be something waiting for you that you haven’t even considered yet.
21. Gives you passion
Do not take this for granted because not everyone will have something, more so a job that they are passionate about. If you can do something you enjoy and, in the process, make some money you should consider yourself very lucky :).
22. Build and live your dream
When you work for yourself and yourself only you can truly start designing your own life. Your side hustle might be your hobby or passion but it could also bring a significant income. It depends on how you spin it. Think about the life that you dream of. What is it that you wish you could change to get it? What do you need more off? Is it time? Is it income? Is it less stress? Or working from home? Once you get started with a side hustle or side business the opportunities can be endless.
23. Gets you out of your comfort zone
It is very easy to slip into a routine and stay there particularly if you are somewhat stable and comfortable. But life likes to throw curveballs and challenge us, and it is good to be somewhat prepared. Get out of your comfort zone when you are comfortable and reach for new challenges and dreams.
A side hustle will certainly get you out of your comfort. You might need to master new skills and have extra responsibility. It can be intimidating but at the same time exhilarating. You will grow so much as a person and every new challenge will seem less scary.
24. Freedom
Not relying on anyone else financially. Being completely independent. Freedom to work from anywhere in the world. Not worrying so much if an unexpected situation occurs.
Being financially independent is becoming increasingly important for us women. It terrifies me that we used to be conditioned into believing that we need to marry to have a roof over our heads. Making your own money is so fricking empowering and Independence = more respect. You will be free to walk away from anything that does not serve you whether a job or relationship, without having to worry about getting by financially.
Nothing will stand in your way.
25. Feel fully in content with your life
You get one life. Do not fall into the trap of 9-5 if it does not serve you. Design the life you want and design how you wish to live it.
List of possible side hustles to explore.
- Affiliate marketing.
- Blogging.
- Social media influencer.
- Become a YouTuber.
- Copyright writer.
- Sell online courses.
- Sell digital products on Etsy.
- Sell physical products on Etsy.
- Offer pet-sitting services.
- Sell stock images or music.
- Flip items for profit (clothes, furniture).
- Freelance web designer.
- Virtual assistant.
On a final note.
These are the 25 benefits of a side hustle and I hope I convinced you that it is an idea worth exploring. You deserve to have the life that you want and enjoy everything that life has to offer.
If you are new to the idea or it is something you have been thinking about for a while let me know how you get on in the comments below. Hopefully, we can continue inspiring each other and building each other up.
For now, have an amazing rest of the week.
If you need a bit more encouragement, sign up to get your Girl Boss Quotes to inspire you to start a side hustle!
Natasza
xxx