Have a side-hustle and let it be your sidekick.
Having a side-hustle is a wonderful thing. Some people refer to it as something part-time. Some call it a side gig. My side-hustle is Affiliate Marketing. My aunt Denise and my friend, Rhonda Jones, both do bookkeeping when time permits. Either way, everyone should have a side-hustle (preferably self-made) – something that is both LEGAL and ETHICAL.
The side-hustle signifies ambition, hard work, and entrepreneurial fortitude. Alternatively, these two words denote ‘chump change’ in the eyes of others. Yes, there are side-hustles that bring in little to no money at all. Though regardless of the monetary gains, ALL WORK IS HONORABLE and I acknowledge those who seek additional ways to earn more money.
We must not think that each side hustle is limited to weekend car washes or bake sales. In a recent article from CNN.com, Anna Bahney said, “Of the 86% who say they earn extra money from a side hustle every month, 36% are making $500 or more.”
Some have found their side-hustle through a favorite past-time, while others, by happenstance, discovered part-time glory in something contrary to their interests. I do realize that some folks do not have the time to spare for such extracurricular activity. But for those who do and/or are in need of extra moolah, then this is for you.
Why go the extra mile?
There are those who rely on a side-hustle to supplement their income. Some people depend on a side-hustle to earn extra disposable earnings as a means to indulge in their fancy for luxury goods and services. And then there are those who, despite earning a good salary, still find time to make room for a part-time money making endeavor.
I respect those who go the extra mile and hustle to make ends meet. Instead of complaining and/or settling for mediocrity, these men and women get off their humps to make things happen.
I think it’s great to use your disposable time to earn extra disposable income! I will continue to say this until the very end: our time is our most valuable asset. Sure, we all deserve to relax and rest here and there. Though overall, we should aim to make the best of the time that God has given us.
And lastly, a 21 gun salute for the breadwinners who still seek part-time entrepreneurial excellence! These are people who understand the importance of independence and having a backup.
The Backup Plan.
Years ago, I worked as a Master Control Operator for the Fox Entertainment Group. I was responsible for ensuring that all scheduled television programs aired on time and without a hitch. Problems such as technical or human errors did happen.
But nevertheless, of who or what was at fault, we were trained to have backup sources routed into our switch board as a means to recover. Let’s face it, who wants to see a tape rewind on air, or worse, see color bars or black. Such incidents would prompt the average viewer to change the channel, thus the loss of viewers which is the milk and honey for any television outlet.
In life, the unexpected occurs as well. It’s wise to drive with a spare tire and jack set. You’re smart if you have an air compressor and portable battery booster in the trunk. You feel at ease knowing that your AAA Membership is valid. Ladies and Gentleman, you’re ahead of the game if you have a lawyer to watch your lawyer!
As Atlanta’s rap star Big Boi put it, “I have a backup plan to the backup plan to back up my backup plan!” One could never have enough backup, particularly when one’s livelihood or freedom is at stake. The recession of 2008 is a painful occurrence which validates this principle.
“The gods see what is to come, wise men see what is coming, and ordinary men see what has come…” – Apollonius of Tyana.
I’m SO HAPPY the recession is behind us. I pray that we never experience two or more consecutive negative quarters of GDP – may God bless us with economic fertility. I was fortunate to have not felt the immediate effects of the then floundering economy. Did I see it coming? Absolutely not. Unfortunately, I did not see it until it came. Yes, I had money saved in the bank, but I did not predict the massive storm that was brewing within our nation.
Since then, many people have opted to beef up their backup plan with a side-hustle. Angela Schonberg of the Huffington Post said, “Side-hustles are nothing new but have been growing in popularity since the recession of 2008. Insecurity in business has employees looking for more monetary security with a second source of income.”
Remember the breadwinner who has a side-hustle. Aside from ambition, these individuals are wise and well prepared. They know that, despite their pay grade and years of service, they’re not exempt from layoffs and financial disaster, hence the need for an additional stream of income.
Minimalism, Moderation and Stock Trading.
The fact of the matter is this: each of us should live within our means. Plain and simple. In the same above-mentioned CNN article, Sarah Berger of The Cashlorette Blog said, “If you’re living within your means, you should be able to live on your primary income. Everything else should be used to invest in your future self through a high-yield savings account or investments.”
Well said, Sarah.
Enjoy life, but do it in moderation. Treat yourself to a meal, movie or massage, but aim to have another stream of income. If you’re living within your means and/or earning a good salary, you could use your side-hustle cash to invest. After all, many wealthy people have built their empires through multiple streams of income + investing.
One doesn’t need a business degree to learn stock trading and other ways to invest. If you don’t have access to a financial counselor or someone of the sort, then take to the web. There are plenty of viable sources to such as Capitaloneinvesting.com or Acorn to help you get started. Also, one does not need a large sum of money to begin a stock trading portfolio. Folks, you can invest with as little as $5 a day or $5 a week.
Remember, extra disposable income is nice. Ambition is honorable. But having a solid backup plan is priceless – hence the need for a side-hustle unless you’re Jeff Bezos or the 21st Century incarnation of Mansa Musa.
Have a great week everyone – keep on shining!