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4 Tips to Actually Make Money With Your Side Hustle
June 9, 2023
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Entrepreneurship
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Business
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Career & Income
If you’ve been thinking about starting a side hustle, you’re not alone. In fact, a 2023 survey found that half of millennials and more than half of Gen Zers have a side hustle
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But with all the hype around hustling, it can be hard to know whether you’ll actually make money doing something on the side.
Here are a few tips to help make sure your side hustle is worthwhile:
1. Utilize your skills and passions to add value.
People will always be willing to pay money for something that brings them joy or makes their lives more convenient. If you’re a creative type, consider selling your art or offering lessons to people who want to learn your craft. If you’re super organized (you go, girl!), you could try being a freelance assistant. Identify a need that you can fill, and you’ll be
2. Consider your up-front costs of running the business.
Do you need to stock up on supplies before you start selling your ornate homemade crafts? Or do you need a storefront for your furniture restoration business? If so, how long might it take before you see a return on your initial investment? Create a budget and business plan before you move forward.
If you need a
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with one of our business development officers to talk options.
3. Remember that time is money!
Driving for a ride-share company is a pretty common way to make extra cash, but is the money worth your time investment? Do the math and figure out how much you’d have to make for side hustle to be worthwhile. If time is a constraint (which, TBH, it probably is), look for a side hustle that takes less time and can be done whenever it’s convenient for you, such as filling out surveys online or providing transcription services.
4. Manage your income like a boss.
Once you’ve got money coming in, what are you going to do with it? It’s always nice to have a little extra cash on hand, but there’s more you could be doing with that money. Consider depositing that money into a high-yield savings account, such as a
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like the girl boss you now are. Adulting FTW.
If you go about it the right way, a side hustle can give you a little financial boost and help you become your most boss self.
You might also be interested in
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4 Tips to Actually Make Money With Your Side Hustle
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Side hustles are trendy, but can you make good money in the gig economy? Get tips to ensure that your side hustle business is actually worth the time & effort.
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4 Cash Flow Tips For Small Businesses
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As a small business owner, you’re making all kinds of things happen every single day – from wrangling supplies to communicating with clients. But even the savviest of business managers encounter a cash flow issue once in a while. Here are a couple of tricks to help you master your cash flow.
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Steps To Starting Your Own Business
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It’s time to turn that awesome business idea into action! Don’t get intimidated about launching your company. Instead follow these steps to success.
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Financial Planning Tips For Small Businesses
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Financing a small business can be tricky, even if you’ve been at it for a while. Along with day-to-day cash flow management, there are short-term challenges and long-term goals that demand your attention. So as a busier-than-ever business boss, how can you stay on top of your everyday duties while also taking steps toward your future goals? Here are three tips to help you stay on top of your financial game and get you where you want to go. 1. Shop for the right financial partner
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Kim’s Business Start-up Tips
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Taking that first step and starting your business is intimidating, but it doesn’t have to be. Check out advice from our President and CEO Kim Sponem to get you ready for that leap.
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Grow Your Garden (and Savings!)
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It’s officially gardening season! Time to open the toolshed and throw on the gloves. If you’re a first-time gardener or just don’t want to break the bank to get organic vegetables on your plate, we have a few tips for you to garden on a budget and maximize your plants and your savings. Can you dig it? (Pun intended—sorry, we couldn’t resist.)
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