5 Reasons Why You Need a Side Hustle in Today’s World

Wondering if you should start a side hustle? Whether you’re looking to profit off your passion project and make some extra cash in your spare time, the concept of a side gig is now a reality for a large percentage of people in today’s world.

According to new research, nearly a quarter (24%) of baby boomers have a side hustle. And when it comes to millennials, that number increases to half.

So why do you need to have one?

Here are 5 Benefits of Starting A Side Hustle Today

You Get to Embrace Your Passion: It’s not just about survival. Side hustles are about flourishing, too. We all know that not all jobs will pay you for your passion. But you can do what you want outside of a standard job. And if you’ve ever screamed “I don’t know what I want to do with my life!” (who hasn’t?), getting a side hustle is a great way to explore what’s out there. The more information you can gather, the easier it will be to identify what brings you real fulfillment.

Side Hustles Offer Invaluable Learning Experiences: There’s a lot to be said about learning through self-employment. Whether you’re building your first blog or bucketing a couple of hours a day to take online surveys, a side hustle will teach you the importance of managing your time to create more success. Getting a side hustle allows you to embrace new challenges when you’ve mastered the day to day responsibilities that are already familiar to you. When we work for a company, we’re often relegated to the same list of tasks days in and day out. A side hustle will teach you key aspects about business and life that you otherwise may not have the opportunity to discover.

The Cost of Living Keeps Getting Higher: Let’s face it. The cost of living is going up, and it gets increasingly frustrating to spend so much of the money you make just trying to stay above water. From rent prices and healthcare to the cost of an education, the amount of money we need to cover the basics in life seems to increase every day. Outrageous prices can be highly discouraging when we don’t have a second avenue for earning some extra cash.

Who Knows When Wages Will Go Up? Even though the unemployment rate is now at its lowest in 17 years, wages are at a standstill. And when wages are stagnant but the cost of living is increasing, that means each dollar you earn is worth less and less as the years go on. And when you’re paid on an hourly basis, it can feel like you’re stuck in mud and beginning to sink when your raises are negligible and price tags get increasingly ludicrous. You deserve to be able to treat yourself to a dinner out or indulge in your favorite self-care routine. That’s one of the many places where a side hustle can come in handy.

You Must Avoid the Single Income Trap: What happens when you lose the one income you have? You’re left with nothing. In today’s world, adaptability is crucial if you want to be able to keep up with a changing job market. And the simple truth? You have to look out for yourself. Acquiring a side hustle will give you the capacity to save more and earn more. So if something does happen to your primary income, you’re not at a complete loss.

But the most importance reason to get a side hustle? You deserve to be happy. Life shouldn’t be a series of clocking in and clocking out, just to worry about whether you’ll have enough money to pay the bills at the end of the month. Whether you’ve got a full-time job or you’re a parent raising your children, a side hustle is a great way to dedicate time to your own growth and self-discovery. So which side gig will you start today?

Data Source: nypost.com