I’m a strong believer that everyone should have a side hustle, Below i’ve listed a few reasons why.
I understand some people enjoy the security a job brings but although a job feels safe that’s not always the case its a few bad months away from being lost, a job is never guaranteed. Side hustles can help keep you afloat if the worst happens stopping the need for excessive debt caused by these periods or if your in a better financial position stopping the depletion of savings.
They can boost wealth creation
investing is a great way to grow your wealth and grow an income but this often take decades to create a substantial income, side hustles can dramatically boost the amount you can invest monthly, speeding up the process or even boosting the amount you end up.
Side hustles can replace your job
If your side hustles income is greater than your main income from your job you may consider quitting doing so may give you more freedom as if the business allows it you could have time and location freedom, working wherever and whenever you want is a big reason I’m focusing on side hustles for the next few years.
You can make your side hustle what you want
when building a side hustle you might want to make it suit you this can make it enjoyable, it can be a hobby its just one that brings you money that’s the thing that I enjoy I don’t see it like work I see it as a hobby which is also a business (what I mean by this is that I treat it as a business but its also as fun as a hobby). This is much more productive than watching tv or other things most people do after working.
you can boost what you achieve in life by working a couple hours after work
The heading pretty much sums up everything I want to say here, lets say you only make an extra £1000 a month after working on a side hustle for a year that’s an additional £12000 a year which can be invested after 30 years invested with a return of 8% that one lot of £12000 would be worth £131000 and that’s just from one years side hustles income.