Hello, beautiful people from across the lands! The side hustle has become my new love language. Making extra money is never a bad idea. However, I am a firm believer in adding a plan with any extra income you want to come your way. With the new normal life may have forced us to look at things very differently. How we make money is one of them for sure. In this post, I share 5 questions to ask yourself before jumping in headfirst into a side hustle. Let’s get into it!
How much time/days can I dedicate toward a side hustle?
Taking an audit of your time is essential when adding a side hustle to your life. Literally break down how your day is spent. Doing this provides insight on when and how long you are able to dedicate time to a side hustle. Putting your side hustle on a schedule helps create consistency which leads to consistent cash flow.
How much extra money do I need/want to make?
Why do you want to make extra cash? Get clear on your money goals and set earring goals to help keep you on track to accomplishing them. Which leads me to my next questions.
What side hustle works best for me?
We are living in a gig economy. There is a side hustle for everything. Walking dogs, delivering food, or even Amazon packages. I am working on a list with 100 side hustles to look into. Comment below if you would find something like that helpful. Discovering what side hustle work best with your schedule and is worth your efforts is important. Pay attention to the payout and the time it takes to complete the work. This will help determine if its worth it or not.
What are my goals with this extra money?
It is so important to identify a plan for this extra cash or it will just be gone with the wind. Will this money go towards debt, savings, holiday shopping? Whatever your goals may be, write them down to set clear intentions on how it will be spent. Doing this minimizes your hard work going to waste due to blind spending.
When do I want to get started?
I love deadlines because they work! Do not just sit on this idea. After ironing out all the details listed above, set a date to take action. Doing all the planning and goal setting is the easy part. Reframe from what I like to call treadmill goals, you’re taking steps that help get you moving but without the action you’re going nowhere.
Action Steps to Take NOW
1st Step: Research at least 5-10 side hustles to try out
2nd Step: Set a goal of how much money you want to bring from these side hustles
3rd Step: Identify which account the extra income will go to ensuring it is not spent loosely
Conclusion
Making extra cash can help in reaching many financial goals you have set out. Whether it’s to pay off debt, increase savings, or invest when done right it’s attainable. To get yourself off to the solid start keep in mind to ask yourself these questions and begin working out a plan of action.
- How much time/days can I dedicate toward a side hustle?
- How much extra money do I need/want to make?
- What side hustle works best for me?
- What are my goals with this extra money?
- When do I want to get started?
Take action today and start making extra cash to help finance your goals.
Until next time dream, believe, and achieve.
