WiseDollar

If you are motivated to make extra money, you?ve probably thought about picking up a side hustle. You might take this path in order to get out of debt. Or, you may simply want to save up as much money as possible for the future.

It should go without saying that the main motivation for most people to pick up a side hustle is to make additional money beyond what they earn on their normal paycheck. That motivation is good enough. But, you?ll be happy to learn that there are some additional hidden benefits of adding a side hustle to your schedule. We?ll review four of those hidden benefits below.

You might have fun!

Lost in the concern about making money is the fact that you may actually enjoy your side hustle on a personal level. For example, if you decide to teach lessons in something that you are good at ? like playing a musical instrument or a particular sport ? you may get great enjoyment out of giving those lessons.

This is the best case, as you will be earning money for your effort. However, it really won?t feel like work. As you consider possible side hustle options, this is a key point to keep in mind. Find something you enjoy and you will be far more likely to stick with it over the long run.

Stay Busy

People tend to spend money unnecessarily when they have idle time. If you are trying to pick up a side hustle in order to increase your earnings, you may find that you wind up reducing your expenses at the same time.

Between your regular job and your side hustle work, there simply won?t be much time left in the day to shop and spend money in a wasteful manner. Of course, there will always be things you need to buy. But, cutting back on the other stuff can do wonders for your budget.

It May Grow

This is one of the reasons that so many people today are interested in the idea of a side hustle. What starts out as a side gig could potentially turn into a full-time opportunity if you are successful.

Again, this is a point to keep in mind when you are trying to decide what your side hustle is going to be. If you?d like to be able to grow this new stream of income moving forward, pick something that you believe has the potential to develop with time and hard work.

Learn a New Skill

You don?t necessarily have to take advantage of an existing talent in order to get started with a side hustle. Instead, you could pick out something that you?ve always wanted to learn and make that your target.

Sure, you?ll probably have to spend some time learning before you can actually make money. But, that educational process should be seen as a chance to better yourself and expand your skills moving forward.

Why do you side hustle? What benefits have you seen besides more money?

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There?s a strong chance either you or someone you know has a side hustle. It?s fairly common for working aged people, and especially for Millennials.

Figures from the United States Bureau of Labor Statistics support this observation. Their figures for 2017 showed that over 7.5 million people above the age of 16 years held multiple jobs.

Even if you don’t have a side hustle forever, here are a few reasons why you might want to pick one up temporarily.

1. To Pay a Large, Unexpected Bill

Unfortunately in life, things sometimes happen that are unexpected. For example, your car may break down, your furnace might take its last breath, or your refrigerator could quit.

No matter the cause, the unplanned for event could result in a large, unexpected bill. This could be one of the reasons to pick up a temporary side hustle.

Taking on side work for a short period of time can help you pay off unplanned bills. Furthermore, it may prevent you from going into debt or racking up interest from charging it on your credit card.

2. To Build up Savings

Another of the reasons to pick up a temporary side hustle could be to build up savings.

With an emergency fund established you will be able to cover unexpected expenses. Then you can slowly replace the money in the emergency fund for the next time.

3. To Reduce Debt

Some people take on a temporary side hustle to reduce their debt faster. It?s a much better idea to take on a side hustle than it is to consider debt consolidation, for instance.

Debt consolidation doesn?t eliminate debt it just moves it around. However, applying more money to your debt can have a big impact and get the ball rolling toward a more secure future. That is how a side hustle can help you reduce debt.

4. To Learn New Things

Sometimes the reasons to pick up a temporary side hustle are less urgent. As an example, you might want to learn some new skills to use in another area.

Let?s say you take on a side hustle as a virtual assistant. You may be able to pick up some skills that could help you build your own website and monetize it for added income.

In addition, learning new things is always a great backup plan if you leave your regular job unexpectedly for some reason. At least with a temporary side hustle you have some income until you can find another full-time job.

5. To Invest for the Future

Have you ever wanted to start investing but lack the funds to make it happen? That could be another of the reasons to pick up a temporary side hustle.

Having some extra money in your budget could allow you to finally meet the minimum necessary to begin investing. Then you can add to your investments in smaller, regular increments to grow your money even more for the future.

Many people take on a side hustle. You may want to pick up a temporary side hustle too so you can improve your financial future.

Which of these reasons would cause you to pick up a temporary side hustle?

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As the leaves start to change and the air gets cooler, one can?t help to think about the upcoming holidays. There are only a few days until Thanksgiving and only a few weeks until Christmas!

That means it’s time to start thinking about your holiday budget and who you’ll be buying gifts for, if you haven’t started this planning already.

If your gift list is longer than your budget, you may need to make some extra money to avoid going into debt this year. One creative way to take advantage of the holiday season and make some money is by decorating homes for the holidays.

Here’s how you can get started with this seasonal side hustle.

Make Custom Wreaths and Garlands

If you don?t want to mess with full-scale decorating but have a crafty side, making custom wreaths and garlands is a way to make extra money.

Depending on the type of materials you use, these can have fairly low production costs and a quick turn time.

Set up Outside Lights

Depending on the amount of lights, this might be a daunting task for yourself. But, grab a buddy and you can make some money by hanging other people?s outdoor lights.

This might be a little more costly. You may need to have extra insurance as you?ll most likely be up on a ladder or roof.

Decorate Residences

If red ribbon and holly swags are your calling, decorating homes for the holidays can be your ticket to balancing your gift budget.

Many people see decorating the holidays as something tedious and not at all fun, especially when you put it up only to have to take it back down in a few weeks.

To make more money, you can charge to put up the owner?s own decorations, or you can charge extra to buy them totally new decorations and decorate with a theme. After Christmas, you can also charge to help take down and put away decorations too.

It might take a little bit to generate clients, but once you get started the options are endless.

Decorate Businesses

Every office needs some cheer, whether it?s for Thanksgiving or Christmas.

Approach a few local businesses to find your first client. You can start with one and grow the number of offices you decorate as other’s see the results. You can decorate inside only, or decorate both inside and outside of business offices.

Once again, you can use decorations they have or buy new ones. Plus, you can also charge to take down and pack away decorations for next year too.

Consult and Design

Some people may like decorating but don?t know what to do with the decorations they have. By being a consultant or designer, you can map out the place and suggest where they place things and what to get to put their holiday decorations over the top.

With this option, they do the decorating after you design it for them. It shouldn?t take you as much time as actually doing the decorating.

These are only a few ways you can make money decorating homes for the holidays. There are plenty more if you put your head to it.

The good thing is that holiday decorating is seasonal and you can do it every year. Plus, you can do as much or as little as you want and you get to set the prices. Who knows, this could blossom in a new business and career path.

Do you have a seasonal side hustle? Have you ever thought about trying to make extra money by decorating homes for the holidays?

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