Side Hustle?

Bria Harper breaie.com

We all know the world economy is changing.  Jobs are being eliminated and automated.  I don’t want to be all doom and gloom here just stating some facts. The wonderful news is there are new careers being created by employers and individuals in their businesses.  Everyone has to be flexible and open to learning new skills and knowledge to stay competitive regardless of your age or location. Education is key.  I don’t mean go back to school and get another degree.  Depending on the major chosen, you could be wasting your time and money.  Get a true education on subjects they really don’t teach you in school. 

I want to encourage you to look beyond just having a job and or career.  Consider doing a side hustle in addition to your job.  A side hustle is basically start a part time business with your spare time.  Explore new avenues to generate extra income and learn new skills. Depending on the side hustle you choose, you could also make new contacts, new friends, and if you are single, possibly meet your new significant other.

Everyone needs a job and career because we all have bills.  I get that. I would like for you to consider if you are employed to look beyond your job for your main source of income. That job as we all know can be wiped out quickly by downsizing, closings, offshoring, or you go through a tough spot and don’t perform well, you can be fired. Prime example here, I have a friend that worked at a company for over 5 years.  She never took a sick day or any vacation time.  The one day she was sick and showed up thirty minutes late for work, they fired her on the spot. Goes to show you companies don’t value loyalty or their employees these days.  If you are currently unemployed, this can be a great resource to help you generate income and possibly avoid going back to the grind of a JOB. 

Learn new skills be open to new possibilities outside of the normal get a job work 9 to 5. If you are currently employed or not, you could start a side hustle or also known as a part time business to generate some extra income and learn something new in the process.

The side gig will provide some extra income. Don’t squander the extra funds on stuff that will depreciate in value. Choose wisely. Invest in yourself and your business.  Decide on how you need to allocate this extra income.  The extra cash could be used to expand your new business as well as capitalize on other opportunities.

The extra money could be used to pay down debts, save for emergencies, save up for a purchase of a home, or invest the spare cash. Most people have 3 major debts.  I’m going to skip the auto loan for obvious reasons, but truly don’t have to have a car loan.  A clunker could work nicely. Just saying.

According to an article by Comet.com, they break down the types of debts owed by each generation by percentages and dollar amounts which is staggering to me.  

Credit card debt

Medical debt

Student loan debt

These 3 above are big drags on people’s pay checks and what they have left over.  Keep this in mind to help motivate you to expand your thinking on ways to create a part time job that you own and control or a business that could turn into a full time gig for yourself. 

If you are fortunate enough to not have these debt related issues or have gained mastery over them, consider investing your money to make your money work for you by investing in stocks, bonds, real estate that hold value and possibly provide passive income from rent, dividends, and interest. 

Learn new ways of thinking by reading or attending personal development seminars, investing, stock trading, real estate investing, entrepreneurship. The experience of trying is beyond what you will ever learn from going to school and possibly reading about the subject if they teach it at all.

Learn new skills to earn more money.  Do not be afraid to try new ways to make money.  For example, start selling items that you no longer need or want on the major online platforms such as Ebay.  Master the art of writing product descriptions and photos of your items for sale.

The eBay side hustle involves by stock, store it, pack it and ship it.  Will involve some upfront money and space to store your merchandise until you can sell the goods online.  There is an alternative called drop shipping that you could look into as an option.

More suggestions for you to consider. Learn online marketing, blogging, learn how to create a website. Get creative.  Your creativity can go beyond just online.  There are numerous examples of people starting businesses off line as well with out a brick and mortar store.  Do some research.  Don’t follow the worn out mantra of follow your passion.  You can be passionate about an idea for a business, but the objective is to be profitable.  You may discover an area that has potential, but not be your passion. I believe most of us would become passionate about the idea because of the income that comes in.  That will change your outlook on the business idea rapidly.

Happy researching and don’t forget to take the jump and go try new paths.

Resource:  https://www.cometfi.com/details-of-debt

Post Author: Bria

Leave a Reply