This post is a part of the Get Paid to Write for Blogs Course Launch! Get Paid to Write for Blogs is a brand new course created by Cat Alford of Budget Blonde. Cat makes a full time income from writing for blogs, and this course will teach you how to do the same. Take it away, Get Paid team …
Did you know that approximately 62% of Americans have zero dollars stashed away in savings and investments? Too many families are one emergency room visit, one mechanic fee, or a lost job away from financial ruin.
With credit cards maxed out, families struggling to make ends meet often lack a financial life preserver to keep them afloat during tough times. People in this situation need to reduce spending or increase their income or more likely — do both. If you are already on a bare bones budget with nothing left to cut, then maybe it’s time to consider a side hustle to help you go from living paycheck-to-paycheck to living comfortably.
Side hustles are anything that can bring in extra money. Most people side hustle before or after their 9-5 job or on the weekends. Some typical side hustles are selling items on eBay, mowing lawns, babysitting, or creating goods to sell on Etsy. More lucrative side hustles include freelance blogging, being a virtual assistant for websites, graphic design, and website management.
Here Are 6 Benefits of Picking Up a Side Hustle:
Not only do side hustles help to bridge the gap in your finances, but there are many other benefits as well.
1. Creative Outlet
Side hustling can serve as an outlet for all of your unused creative energy. People easily lose themselves to the daily grind of work, bills, kids, and financial struggles. Don’t let the mundane slowly chip away at your once vivacious life. Take time to focus on your passions again. Pick up wood carving and sell your items on Etsy. If you love plants and gardening, side hustle as a landscaper. If you love writing, Get Paid to Write for Blogs for blogs with topics you’re passionate about. Use your side hustle to help you live a dynamic and fulfilling life again.
2. Pay Down Debt and Build an Emergency Fund
Income from your side hustle should go to your highest need first, which for many is eliminating debt and establishing an emergency fund. Side hustle income can help increase the speed in which you reach financial freedom and provide the wherewithal to handle the curveballs life throws your way.
3. Invest for Retirement and Other Goals
Once debt is eliminated, put your side hustle money to work for you in your retirement accounts and funding other goals to create the life you want for you and your family. Investing your money to create long-term wealth is critical and key to helping you live a comfortable life now and in retirement. Many of us have underfunded our goals and side hustles provide a great way to give your savings and investments a much-needed boost.
4. Learn New Skills
Another advantage side hustles offer is the ability to expand your skill sets. For example, dog sitters may be able to learn a new skill, like dog grooming, which would be seen as a value-add from a client’s perspective. Over time, you will want to hone complementary skills to make your work more marketable. If you are a freelance writer and want to write for blogs, you could take a course to help broaden skill sets, such as learning SEO, graphic design or HTML coding. Bottom line: learning new skills allows you to increase your service offerings and earnings.
5. Advance in Your Career
New skills that you learn from your side hustle can also help you win a promotion at work or find a better paying position at a new company. A side hustle could even help you pay tuition costs if you decide to go back to school and start a new career altogether.
6. Have a Backup Plan
Your side hustle could even become a large enough income generator to sustain you if you lose your full-time job. Or minimally provide some peace of mind and cushion if your job situation is tenuous. More and more people recognize the benefits and security multiple streams of income provide, especially during times of uncertainty. And you never know — you may become one of the lucky ones who turn their side hustle into a full-fledged business once their side hustle earnings consistently outpace their 9-5 paycheck.
Side Hustles Can Improve Your Way of Life
Ultimately, there is no reason to be stuck living paycheck to paycheck when there are so many different opportunities for making money on the side. Start by asking yourself what brings you joy, then figure out how to make money doing it. If you have a passion for your side hustle, the money will likely follow.
Note from Shannon:
Cat and I connected a couple of years ago and it has been a real pleasure to get to know her. She’s an amazing Mom, blogger and business owner. Beyond her incredible work ethic, Cat cares deeply about those she serves, which led her to develop a top-notch program to help freelance writers build a successful business from the ground-up, just as she has done for herself. I’m so proud to support Cat and pleased to offer my readers a special 15% discount on her program. If you want more information about getting paid to write for blogs, please check out this course.