In order to avoid burnout and maintain work/life balance, it’s important that you’re honest with yourself in answering these questions. How much more time you are willing to devote to earning extra money? How much additional stress are you willing to take on with this new pursuit? If that’s true, then a large portion of your time has already been spoken for. If you are looking for a side gig-and not a brand new full-time job-that means you’re probably already working a nine-to-five. How much time are you willing to spend on the side hustle? Knowing your timeframe and how much you want to earn can also help you narrow down your side gig choices and select the best option. If so, how much money do you need to earn? Do you have a deadline for reaching this goal?īy identifying a clear goal and giving yourself something to work towards, you may find it easier to get and stay motivated after the initial excitement of starting your side gig wears off. How much money do you want or need?īefore pursuing a hustle, consider whether or not you are trying to raise money in order to reach a particular goal (such as making a purchase). What to consider before choosing a side hustleīefore you pursue a side gig, here are some questions to ask yourself. Some pursue side hustles as a way to explore a potential new career direction or to give themselves a creative outlet. While extra cash is definitely a motivator for many who have a side gig ( one in three people with a side hustle say they need the extra income just to pay their bills), it is often not the only motivating factor.

And there’s often more flexibility associated with side gigs in terms of scheduling. Both typically involve earning extra money, but a side gig tends to be more entrepreneurial in spirit compared to most second jobs. While side gigs and part-time jobs are sometimes lumped in together, in most cases, the two have slightly different meanings. Similarly, some people may pursue their side hustle year-round while others choose to do so seasonally. Some people pursue a single side gig, while others may pursue more than one at any given time. Here, we explore the concept of side gigs and give you some tips and advice to consider before pursuing one for yourself.Ī side gig, also called a side hustle, is work that you perform in addition to your primary job. That flexibility is a big part of the reason why an estimated 50 percent of millennials work a side gig.

In the meantime, if you want to earn some extra cash on your own terms and on your own time, starting a side gig could be just the strategy. Yes, you could ask your boss for a promotion or a raise, or consider changing jobs-or even careers-for a more lucrative role.

But what’s the best way to earn extra cash? If you’re looking to pay down debt (like credit card balances or student loans), bolster your savings, or invest more, earning some extra money can be a great way of reaching your goals.

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