3 Little-Known Perks of Getting a Side Hustle

You can make good money via a side hustle. But there's more to the story than that.

These days, many people are having a hard time making ends meet due to soaring inflation. As such, many are opting into the gig economy in the hopes of boosting their earnings and padding their savings accounts so they have a little financial breathing room.

Clearly, the main benefit of getting a side hustle is the extra money that comes with it. And even when living costs aren't skyrocketing, additional cash can be a nice thing to have.

But getting a side hustle offers benefits beyond that extra money. Here are a few perks you might enjoy if you pick up a second job.

1. Building essential skills

If you're stuck in a dead-end job, busting out of it could prove difficult if your employer isn't willing to invest in your career or offer you the chance to build new skills. A side hustle, however, could be your ticket to developing not only the skills, but the confidence you need to advance your career on a whole.

2. Making friends

Making friends seemed easy enough in college. But let's face it -- it can be a pretty tough thing to do as an adult. This especially applies if you're working remotely and can't use your main job as a social outlet. But if you get yourself a side hustle that has you working with others, you might manage to expand your social network. The result? A happier you.

Some side jobs that might lend nicely to friend-making include working in a retail store, being a restaurant server, or any other gig you don't do solo. Doing data entry from home might seem like an easier, more convenient way to earn extra money, but it won't serve as a social outlet.

3. Getting more peace of mind

It's hard to ignore the fact that economic experts have been sounding warnings about an impending recession for months on end. Now the reality is that right now, the U.S. economy is in pretty good shape, and the labor market is definitely strong and loaded with jobs. But we don't know if things will take a turn for the worse in 2023.

The great thing about getting a side hustle is that it can serve as a backup income source. If you're downsized out of your main job (due to a recession or not), you won't have to go without earnings completely because you'll have your side gig to fall back on.

You may even, in that situation, be able to ramp up on your side hustle to make up for your missing income. For example, if you decide to work three evening shifts a week at a local retailer and you lose your main job, you could ask for more shifts until you're once again employed on a full-time basis.

Holding down a side hustle does mean giving up some of your downtime. But there's a lot of upsides to enjoy beyond just money. And so it pays to explore your side gig options and see which one is most appealing to you.