Friends, we can all use a little extra money whether it’s to save for a down payment, beef up our savings or take that vacation we’ve been dreaming about.
Friends, we can all use a little extra money whether it’s to save for a down payment, beef up our savings or take that vacation we’ve been dreaming about. One of the best ways to make some extra money is to come up with a side hustle – a source of income outside of your day job. Not only can a side hustle be lucrative and help you to build wealth, but it can allow you to pursue an interest that you have outside of your career. Not sure what the ideal side hustle is for you? Follow these steps to figure it out.
Start with your interests. It’s easier to make money when you enjoy what you’re doing since you’re more likely to put extra time and effort into it. For example, if you love to throw parties and socialize, consider starting a side business as an event planner. If there’s a different career path you’ve always been interested in trying, that could be another place to start. You may find that your side hustle is the key to discovering your life’s purpose.
Think about what you’re good at. We all have gifts and talents. Why not make some extra money by simply doing what you’re good at doing? If you are persuasive and like to talk to people, sell something such as jewelry or makeup. If you’re a good artist, consider designing fliers or marketing materials for people. The best side hustles are those that we have a natural knack for.
Consider what other people already ask you to do. Sometimes you don’t have to find a side hustle because the side hustle finds you. If people are always asking you to do a certain task, ask yourself whether someone might pay you to do it. For example, if everyone begs you for your sweet potato pie, consider selling the pies for the holidays. Don’t overlook a skill or service that you have a ready-made audience for.
Be mindful of your time. When you’re coming up with a side hustle, you have to be realistic about the amount of time you have available to put into it. If you have a day job, for example, you may not be able to start a side hustle that requires you to be available between 9 and 5. You know your personal situation and you know how much time you can seriously devote to this endeavor. Make sure the side hustle you choose to pursue reflects that.
Get the information you need. The last thing you want to do is go into a new situation blindly. Figure out what you need to know in order to be successful. You might take a class or read a book about that particular type of business. You can also find someone who is already doing what you want to do, and ask them if they can offer some advice.
Whether you want to manage your finances, buy a home or start a side hustle, the key to success is information. The more prepared you are, the more successful you will be!