41% of Americans Plan to Get a Side Hustle. Here Are 4 Tips for Finding the Right One
- Living costs are rising rapidly these days and forcing workers to adapt.
- A second gig could be the ticket to making ends meet, but you should take a few steps to find the right one.
Could your income use a lift? A side gig could be the right solution.
It's hardly a secret that it's gotten more and more expensive to live over the past year. Not only are living expenses soaring due to inflation, but the Ukraine conflict has sent gas prices skyrocketing.
It's therefore not surprising to learn that 41% of workers today have plans to get a side hustle, according to recent data from Employ. And for 60% of those wanting a side gig, the motivation is needing money.
Even if you aren't struggling to make ends meet, a side hustle could be your ticket to meeting different financial goals, whether they include building an emergency fund, paying off your credit cards, or coming up with a down payment on a home. But finding the right side hustle isn't always so easy, especially given the number of choices you might have to wade through. Here are four tips to help you narrow down your options.
1. Think about your schedule
You may have limited hours to work a side hustle due to schedule-related constraints. If you put in a lot of hours at your main job, you may not have much wiggle room to work a side hustle during the week. Or, it may be that your work hours vary, and so it's hard to commit to a side hustle schedule in advance. There are things that can be worked around -- but it's important to be realistic about the sort of side job you can take on.
2. Decide if you need a remote job
If you're a parent to young children or don't have reliable transportation, then you may need to limit yourself to a side hustle that can be done from home. There are plenty of options, so don't stress that you'll struggle to find something. You may be able to teach or tutor online, do data entry, get paid to blog, or update social media accounts for businesses.
3. Assess your income goals
Maybe you're hoping your side hustle will boost your income by $100 a month. Or maybe you need to set a higher earnings target than that -- say, because you need the money to pay your bills or have a lot of debt you're trying to clear. Narrowing down an income goal will help you determine what gig is right for you.
4. Figure out what work actually interests you
Your side hustle does not have to be something you dread or work that bores you to tears. In fact, you should aim to take on a gig you'll enjoy doing, since you may end up having to sacrifice downtime in the evening or social time on the weekends to get it done. Think about hobbies of yours that can potentially be monetized. If you love animals, for example, pet sitting could be a great side hustle to look at.
There are plenty of ways you might benefit from getting yourself a side hustle. Use these tips to land on the right one, but also remember that it's okay to start out with one gig and move on to another if your first option doesn't work out. The more manageable your side hustle is, the more sustainable it's apt to be.
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