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On The Money –
A Financial Wellness Series
On The Money –
A Financial Wellness Series
If you always feel like your bank account is in survival mode, you’re not alone. Rising living costs, debt, and “treat yourself” culture have everyone searching for extra ways to earn. Whether you’re trying to save for a big life event or looking for a way to justify your daily $7 latte, a side hustle can help you reach your personal finance goals.
A side hustle is any type of work or business taken on in addition to one’s primary job or source of income to earn extra money, pursue a passion, or gain new skills. It can be a flexible part-time job, freelance work, or a creative project. Here are five side hustle ideas to help you get started.
Writing, graphic design, social media management, and consulting are all in-demand skills that can bring in extra income. Even if you’re not in the content creation space, freelancing may still be for you. An easy way to add to your income is to do what you do for your full-time job as a freelancer. Freelancing also gives you control over your workload, your clients, and your rates, making it one of the most flexible side hustles.
Driving for ride-share apps, delivering food, or grocery shopping can fit easily around your main job. If you have time and a car, these quick trips can turn into easy money makers. The best part? You can start earning right away. Gig work can provide a consistent, reliable income when you need it most. However, be aware of potential pitfalls such as scams or platforms with high service fees; always research apps before signing up.
Platforms like Poshmark, Facebook Marketplace, and Depop make it easy to sell crafts, clothing, or secondhand goods. If you have the time and passion, you could hunt for valuable items at thrift stores and estate sales and sell them for what they are worth. Serious resellers even track seasonal trends, limited-edition drops, and vintage items to maximize their earnings.
Blogging, podcasting, or creating videos may start small but can grow into sustainable income streams. While it may take time to build an audience, content creation is one of the few hustles that can grow into a business that earns while you sleep. It allows you to build a personal brand and highlight your unique voice.
If you have expertise in a subject, sport, or skill, tutoring or coaching is a rewarding way to earn money. Whether it is math help for students, career coaching for young professionals, or teaching piano lessons, people are willing to pay for knowledge and mentorship. Virtual platforms make it easier than ever to connect with clients worldwide, turning your expertise into a reliable revenue stream.
Side hustles only work if they fit your life. If your nine-to-five leaves you drained, something flexible, like delivery apps, might be best. When you get that random burst of creativity after hours, you may consider freelancing or content creation. Just remember to align your hustle with your financial goals. Quick cash for bills may come through reselling and delivery services, while long-term wealth could grow from digital businesses or content creation.
Pick something that fits your lifestyle and keeps you motivated. Stay focused on your financial goals and don’t give up if you’re not successful immediately. Your side hustle may require persistence.
The first step to picking the perfect side hustle for you is to audit your skills. Think about what you are already good at. Are you creative? Are you detail-oriented? Are you social? Your side hustle should feel like an extension of your strengths.
The second step is to sit down and review your current financial situation. It will give you a better picture of what resources you have available or may need to give to your side hustle. Need help accessing your personal finance situation? Click here. If your side hustle will require resources, note this as a recurring expense when setting up your budget.
Your side hustle should add to your financial wellness, not drain it. You may consider working with a financial advisor who can help you create a plan for your side hustle. You may need help managing accounts for separate expenses and forming goals and a budget for your gig work. Redstone has a team of experts ready to guide you so that you can keep hustling.
Next month in our Financial Wellness Series: Teaching Kids About Money
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