Have you thought to yourself, “Is a side hustle worth it?”
You’ve probably seen numerous stories about people making extra money on the side, starting their own business, and feeling fulfillment from it all.
And while it’s great that so many people have found an avenue that brings them joy, side hustles also bring their own set of challenges and frustrations.
Which is why it’s smart to think about all the pros and cons before you dive in and start your own side hustle.
Is a Side Hustle Worth It? Let’s Look at the Pros and Cons.
Pro: You Can Do Pursue Your Passions — And Get Paid for It
If you have a skillset or passion that you’d like to monetize beyond your regular job, then a side hustle can be a great way to achieve that.
You may even find that your passion is something that you can’t do at your everyday job, so having your side business gives you a chance to really tap into your talents and try new things.
As an added bonus, you’ll bring in extra income doing something you love!
Con: Beginning is Often the Hardest Part
After deciding that a side hustle is worth it, a lot of people find that they don’t know where to begin.
I’ve created an entire post about How to Start a Side Hustle, so if you’re feeling a bit lost, make sure you check it out!
Ultimately, you can’t launch your side hustle without a plan.
You’ll need to get things in place so that you know what products or services you’re offering, where you’re going to market your side hustle, and how much you’re going to charge.
Pro: You’ll Build Your Resume
Having a side hustle shows that you’re proactive, determined, and have the drive to try new things.
You’ll start learning the ins and outs of running your business, how to manage financials, and develop superior customer service skills.
When I launched my first blog, I was able to use it as work experience, which helped me to change career fields! Sure, it was a tough journey at the start, but the skills I built by having my side hustle were just what I needed in order to start a new path for myself.
Con: You’ll Work More Hours and Have to Learn How to Balance Everything
Most people who start a side hustle have a full-time job they go to five days a week, and that in itself can be exhausting.
When you think about adding several more hours of work to your week, you’ll probably start wondering where you’re going to fit in time with your friends, your favorite TV show, or even exercising.
That’s why it’s important to have a plan and to learn work/life balance early on!
If you overwork yourself, you’ll burn out and your side hustle will be over before you know it.
Do yourself a favor and read this post to help you get started on the right track: 5 Tips for How to Balance Work and Your Side Hustle.
Pro: You’ll Have Extra Income
Whether you make a few hundred or a few thousand extra dollars from your side hustle, that’s still extra income that you can put toward a number of things.
Here are just a few ways you can spend (or save) that money:
- Credit card payments
- Student loan payments
- Date night
Con: You’ll Be Responsible for Self-Employment Tax
Taxes are a pain as it is, so adding in another element to them can be confusing and frustrating.
I’m not a tax professional, but I did find this great post about a side hustler who went through the process of filing taxes. Check it out here for more insight as it could be helpful for your own journey: What I Learned When I Filed Taxes from My Side Gig.
Is a Side Hustle Worth It? Final Takeaways
As someone who has had various side hustles over the years, I can tell you this — I’ve never regretted starting them because they’ve always taught me something.
Yes, I’ve had moments where I felt like pulling my hair out because I was short on time or I had to learn new things outside of my wheelhouse. That’s just part of the journey!
But when I look back at all the opportunities I’ve had because I chose to take a few hours out of every week to push myself and my abilities, it’s all been worth it.
As you sit here and decide whether a side hustle is worth it for you, think about these things:
- Are you just unsure because you’re fearful it won’t work out?
- Do you currently feel overworked and exhausted?
- Is your skill set being used to its fullest potential?
- How could you use the extra income to better your life?
I also want to leave you with a small list of posts I’ve created specifically for side hustles. Take some time to read through them and get a good feel of how all the pieces fit together.
- Need a Side Hustle? Learn How to Start Making Money Today!
- How to Find Your Side Hustle (Follow These Steps!)
- Side Hustle Business Ideas to Make You Extra Money
- How to Market Your Side Hustle: 7+ Tips to Try
- 7 Remarkable Benefits of Having a Side Hustle
- The 7 Best Side Hustle Books You Need to Read
- 5 Tips for How to Balance Work and Your Side Hustle