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4 Hidden Benefits of a Side Hustle

August 8, 2018 Wise Dollar Side Gigs No comments

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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5 Ways to Side Hustle as a Couple

June 6, 2018 Wise Dollar Side Gigs No comments

These days, ?side hustles? are all the rage.

Basically, a side hustle is something you do to earn money away from your full-time job. In the past, this probably would have been called a ?part-time? job or a second job, but times have changed.

By the very nature of what most people would call a side hustle, these aren?t really jobs ? at least, not in the traditional sense. Often, they are independent contracting arrangements. With these, you make a little extra cash on your own, without reporting to a boss.

There are tons of ideas out there for side hustle options, and you?ve probably heard most of them before. But what if you want to do your side hustle as a couple?

This is a great way to make extra money while still spending time together. The list of five options below will hopefully point you in the right direction to make this a reality.

Build a Website

If you are even slightly technically inclined, you and your partner may be able to start a website to earn (hopefully) a bit of money.

Of course, it is a good idea to pick a topic for your website that is a shared passion between the two of you. That will make the project fun while still giving you the potential to earn some additional income.

Websites are commonly monetized through advertisements and affiliate links, but your plan will need to depend on the specifics of your site.

Write a Book

This is another project you could work on together. Think of ideas that would interest both of you and then get into the process of researching and writing your book.

There are many places you can list your book for sale online, including the extremely popular Amazon Kindle program.

Cleaning or Lawn Service

An active option for those who like to stay busy, you may be able to start up a local house/office cleaning business, or a lawn service. Obviously, you will need to be capable of performing these services at a high enough level to deserve compensation, and you?ll also need to acquire any licenses that are required in your jurisdiction.

Dog Walking

If you love pets and would like to combine that love with the opportunity to make some money, offering a dog walking service is a nice option. You could start up your own operation to be your own boss. Or you could work for one that is already in place in your area.

With two of you spending your time walking dogs ? either together or separately ? the money earned could add up to a meaningful sum pretty quickly.

Freelance Work

Perhaps the most popular side hustle these days, consider offering your professional skills on a freelance basis. Think about what each of you do well. Then look for a market where you can sell your services to clients.

One of the best things about starting this type of side hustle is the potential for it to grow into a full-time operation.

Do you side hustle with your partner? What do you do together to earn extra money?

Photo courtesy of: nicolaiordano

5 Reasons to Pick Up a Temporary Side Hustle

May 7, 2018 Wise Dollar Side Gigs No comments

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?

Photo courtesy of: rawpixel

Walk Your Way to Financial Freedom with this Simple Side Hustle

January 11, 2018 Wise Dollar Side Gigs No comments

This is a guest post from Brian Winch, creator of Cleanlots, a parking lot litter removal business that began as a side hustle and has grown into a successful career.

A little over 35 years ago I was at a personal crossroads. I worked full time at a retail establishment, but I knew I wanted more out of life than stocking shelves and ringing up customers. With only a high school diploma, a small savings account and plenty of bills to pay, I wasn?t sure what opportunities would come my way. So I decided to pave my own way and devise a plan to make extra money on the side with a side hustle!

How did I do it?

As a child, I recalled that my father used to make extra money on the side by cleaning up litter in a nearby shopping plaza. I had gone along with him a few times, and I remembered thinking how easy it was. It was a case of us walking around the property cleaning up litter before the stores opened the next day?and getting paid for it. I?ve always loved the outdoors and had a passion for the environment. Marrying those ideals with this childhood memory, I began to grow my side hustle until I was making enough money to quit my retail job.

Would most people describe my business as glamorous? Probably not ? but a litter removal job has many advantages ? if you can see past the trash. How successful you become depends only on your work ethic, persistence and attitude.

Benefits of my side hustle:

Working within a Green industry.

I have a great sense of pride and satisfaction knowing that my business is making a cleaner, greener environment. Not everyone wants to clean up after people- I get it. However, I enjoy making a noticeable impact in my community with this green service.

Getting exercise.

How many jobs can you name that will pay you to take a walk? In parking-lot litter removal you are taking care of yourself as well as your customers and the environment. 10,000 steps a day? No problem!

Recession-proof.

Are people littering less than they were 30 years ago? I can assure you: NO! People don?t tend to think litter is an issue unless they shop at a messy property. Property owners have a hard time keeping up and that?s where we step in!

Low-risk.

When I decided to launch my side hustle idea I only invested about $200. There are no unique skills or training involved.? (Remember: I started this business with only a high school diploma!). Eventually, I grew my business enough to recruit others to help me with the cleanup work. Now that $200 side hustle investment has turned into a $650,000+ per year business.

Make great money.

You can bill your time out from $30 – $50 per hour. Contract work means money coming in month after month, year after year.

Easy to do.

The simple hand tools make cleaning up almost as fast and easy as going for a walk!

Flextime time schedule.

It doesn?t interfere with a 9-5 job. This service is completed out of the sight of customers-which often means getting your side hustle on during evenings or early mornings.

I?m often asked, ?If this business is so good, why share it with anyone?? The fact is this business is successful at the local level. I couldn?t operate in your city just as you couldn?t in mine. The truth is, I have nothing to lose by teaching you what I know so you too can make extra money on the side. I believe it?s a win/win situation for the both of us (as well as Mother Earth).

To learn more about Brian?s journey and to get more information about how you can open your own parking lot litter removal business please visit http://www.cleanlots.com.

Do you have a side hustle? What do you do for extra money?

Photo courtesy of: Clean Lots

5 Apps to Help You Earn Extra Money

December 13, 2017 Wise Dollar Side Gigs No comments

Most people think of their cell phone as an expense rather than a source of income, but what if you could turn that perception on its head?

You might be able to actually make money with your phone, provided you download the right apps.

The five apps listed below will allow you to make a bit of extra money on the side with very little effort required on your part.

Letgo

This is an app that makes it easy to sell your old stuff. Most American have too much stuff laying around the house anyway, so why not turn that unwanted stuff into cash?

By using this app, you can simultaneously pad your bank account and clean out your house. You aren?t going to be able to make money on this app forever ? you only have so much stuff to sell ? but it is handy when you come across something that you simply don?t want anymore.

i-Say

If you like to respond to surveys as a way of making your opinion known, you can get paid for doing so through this app. Once you download the app, you will be able to find out which surveys you qualify for, and you can make money in exchange for your time.

You certainly shouldn?t expect to get rich with this kind of app, but it is a way to turn idle time on your phone into money.

QuickThoughts

This is one of the more interesting apps in the money making space. When you use the QuickThoughts app, you will be sent on ?missions? to obtain information about businesses and their performance. Usually, this means taking pictures of specific locations inside of a store.

By using the technology you already have in your pocket, you can make some money in the form of iTunes or Amazon gift cards while running the errands you would be doing anyway. Not only is this a quick way to bring in some revenue, but it might actually be kind of fun.

Lyft

Okay ? so this one requires a little more than just downloading an app. However, if you would like to use your car as a money maker, you can download the Lyft app and get started as a driver.

No doubt you have already heard of the ridesharing business, as Lyft ? and Uber ? have become huge in recent years. You can work when you want, and you can work as much as you want. Don?t expect this kind of work to turn into a six-figure income, but it can certainly supplement your other income sources nicely.

Stash

Most Americans should be better about saving their money. This app can help you do just that. This means it can help you to make money in the long run. Stash is an easy way to get started in investing. It gives you the choice in selecting between a number of portfolio options. By adding a small amount of money to your investments periodically, you can see nice growth over time.

Have you ever used any of these apps to make extra money? Which ones are your favorites?

Photo courtesy of: jeshoots

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