Why I'd Rather Get a Side Hustle Than Cut Back on Expenses

I'm too set in my ways to change my spending habits.

These days, a lot of people are being forced to make tough choices due to inflation. With living costs up, many people are finding that their paychecks can't cover their bills. And those who don't have money in savings may need to resign themselves to spending less or working more to boost their income.

Thankfully, my family isn't hurting so badly due to inflation. Sure, we're spending more on essentials like gas and groceries just like everyone else, and that means we have less money to spend on fun things or put into savings. But we're not at the point where we have to drastically cut expenses to stay afloat.

If that situation were to change, though, I'd most likely push myself to take on a side hustle before cutting my spending dramatically. Here's why.

It's not just about me

These days, my husband and I don't spend a lot of money on ourselves (outside of essentials like food and healthcare, of course). Rather, a lot of our discretionary money goes toward things for our kids -- after-school activities, fun summer camp programs, ice cream store outings, and so forth.

If our situation were to change, I know I'd have a hard time denying my kids the activities and fun things they enjoy. And so to me, it would be easier to take on a side hustle than have to tell them, "Sorry, soccer's out this season" or "We're canceling martial arts classes for the next few months."

What's more, there are certain non-essential things I'm really not willing to give up. Take cable, for example. I'm a big hockey fan, and the only way to watch my team is to pay a lot of money each month for cable. Because that's a primary source of entertainment for me, I figure it's worth the cost. And to be clear, my whole family watches cable -- it's not just me. And since my son loves hockey, too, it's something we watch together.

If money were to get tight, I'd find some way to work a side hustle so as to not have to cancel my cable plan. Maybe I'd drive for a ride-sharing service a few nights a week (namely, on non-hockey nights). Or maybe I'd look at evening babysitting gigs. As a mom, I certainly have ample childcare experience. But either way, I know I'd be more inclined to work more hours than to cut back on the things we love.

What's the right choice for you?

If you're in a situation where money is starting to run out -- whether due to inflation or circumstances personal to you -- then you may have to make the hard choice of spending less or working more. The latter is what I'd immediately opt for, but you may want to go a different route.

For you, spending less might be an easier thing than giving up hours of your free time. And that's fine. But for me, side hustling is something I've done in the past, and I'm prepared to do it again if need be.