• LateSaver

To Side Hustle or not.

The journey to Financial freedom can be summarized into a few steps.

Step 1. Save more

Step 2. In order to do step 1, you must increase your disposable income.


Disposable income is the amount that remains after you have taken care of all the living expenses which are necessary and unavoidable. In order to have mney left, you either cut off on all unnecessary expenses that I am sure we are all accumulating or you increase your income, and to do so here comes the "SIDE HUSTE"


The side hustle is by all account a great way to increase one's income; since it may not be possible to negotiate a higher salary. I, myself, am a consultant. My take home pay fluctuates with the contracts that I am able to secure and once signed, they cannot be renegotiated (well, most of the time anyway).


Few months ago, when I decided that I should get a side hustle, I went online to get inspired. It was glorious, all these people talking about all the different gigs that could be done that would bring in some funds, I thought, I actually would end up just doing the side hustles and I would be set.... WRONNNGGG !! My gosh, the internet had me, once again (it's like I am the perpetual sucker ..)


I first started with some clickworker gigs, but they pay like $.05 per job, then moved to surveys, they still don't pay a whole lot; but I, at least, enjoyed doing those. I came to understand that these could bring in, some extra fund, but one has to have some time to devote to them, and well, I don't ! Next came Upwork, I did make some decent money but then again, the jobs that I undertook would take quite some significant time, I shelved it for later.


In the end I moved to AMAZON FBA business. Here I have to stop and acknowledge, it does make sense, it works. But you have to set your mind right and understand that although it may be a side hustle it demands commitment like a full time job. The commitment is at its highest when you are setting up, it pretty much runs itself once you have understood the basic principle of finding a product and just keep restocking (Well, if the product doesn't fail).


My definite take on side hustles is that they are worthy, but and this is a big but, one has to understand, they don't print money just because you started doing them. Take time, understand what you are starting and make a plan on how to actually do it. If poorly planned, it may end up costing you, in that it would eat up the time (Opportunity costs my dears, can't say it often enough. This whole journey is for me not to waste anymore of my time doing what I do not want to do) you would have used to do the other things that are primordial in your life. Furthermore, planning allows you to maximize your profit by knowing when it is the most optimal time to undertake that hustle, or even what kind of hustle to do for that particular time.


My advice is to undertake a side hustle, not just for the income it may generate, but also for what it would teach you in terms of resourcefulness. You may be surprised of the things you are able to achieve !

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©2018 by LateSaver.