Wouldn’t it be nice to have multiple streams of income? Even better, wouldn’t it be nice to make money doing something you love? Creating a side hustle not only can stimulate your bank account but can stimulate your mind and soul.
There are many reasons to start a side hustle. For me, it was a way to go to school, pursue my dreams, and make extra money. I worked for a cosmetic company for years and loved it. However, the hours were insane and did not allow me to pursue my other passion, finance. I took my network and knowledge of the makeup industry and started my own side hustle.
I spent my weekends making brides beautiful. It gave me a creative outlet and a way to make people feel special. By building a side hustle I was able to pursue my dreams and energize my life.
Here’s why you need to start your own side hustle TODAY:
Side Hustle Reason #1: It will give you an outlet to be creative
What could be better than making extra cash and doing something you are excited about. You might love your job but I am sure you also have other hobbies that excite you. Starting a side hustle allows you to develop a creative outlet. When you are creative and use your brain in different ways, it helps inspire you in all aspects of your life.
It can also stimulate and expand your mind. You will soon be filled with unlimited ideas.
Side Hustle Reason #2: It will challenge and develop your skills
Maybe your job isn’t promoting and encouraging your growth. Maybe you feel like you are in a rut. Creating a side hustle can help you develop more skills that are attractive to employers. By spending your free time working on a side hustle, you could be developing the skills you need in order to make a career transition or get a promotion.
By challenging yourself you also build confidence. Exploring different skills sets opens your mind and shows that you can do anything you put your mind to.
Perfecting a skill also takes dedication and patience. Both attributes can be extremely beneficial for your career as well as personal life. Everyone needs to have a little more patience wouldn’t you agree?
Side Hustle Reason #3: It will help you explore networking opportunities
Going to the same job every day doesn’t allow for you to meet new people. Side hustles give you the opportunity to meet different people every day. Whether you are looking for mentors in your industry or you attend meetups of like-minded individuals, you have unlimited opportunities to meet new people.
This could help you make new friends or even new career connections. You never know who you are going to meet and how it would change your life.
Side Hustle Reason #4: One income is good but multiple incomes are better
Saving for retirement can be a challenge. Did you know that you need to retire with about $2 million in order to live a $50,000 per year lifestyle? Is this enough to live the life you had always dreamed of? This doesn’t afford fancy trips to Thailand or golf club memberships. If that is your idea of retirement you might want to work on another income stream.
Imagine if you could earn an extra $500-$1000 a month. Would this change your retirement plan? Would you be able to put that money away and save it for your dreams? If you invested that $500 a month for 35 years this would yield an extra $1.03 million.
The other benefit to having another income stream is it makes debt repayment much easier. Whether you are trying to pay off your mortgage or you have an extra $20,000 in student loans, this will ease your repayment plan.
Creating a side hustle gives you endless possibilities and helps you pursue your passion at the same time. Don’t wait for the right time. Start today! Write down 5 things you are excited about and create a way to make money while experiencing them. What will you create today?
If you're looking to gather some incredible ideas for a side hustle of your own, no better place to look than people who are already successfully side hustling their way to freedom and flexibility. Friend of MasteryOfMoney.com, Nick Loper, has been interviewing successful hustlers on his podcast Side Hustle Nation Podcast. Adam Carroll interviewed Nick Loper for the Build A Bigger Life podcast on episode 71.
Ashley Lauren not only does makeup for brides, she'll put lipstick on your finances and make them super pretty too. Ashley blogs on MoneyGravity.net and is a content partner for a number of financial outlets. We think she's well on her way to Ma$tery.