Side Hustles aren't really worth it, right?

Everyone talks about making more money with side hustles.

I have several videos about it on my channel.

But are they actually worth the effort or are they just a big waste?

Let’s look at the numbers.

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It’s really easy to get lost in hustle culture online where everyone suggests doing a million things and constantly working.

Conversely, there is a crowd who think that side hustles and working in your extra time is a scam.

So, which is it?

Well, like many things in life, I think the answer lies in the balance.

If you only have one single income stream, you might have more free time than someone hustling on the side, but you are taking a big risk.

What if that one income stream goes away? Anyone could lose their job in an instant.

If you do hustle constantly. Always working. Well, you could miss a lot of stuff. In your charge towards making more money, you could miss out on life.

So for me, it’s always been moderation to the rescue.

There are definitely times when I go all-out trying to make more money and other times when I am completely foot off the gas.

Like when I still had all my credit card debt, was living paycheck to paycheck, and was tired of my financial issues… I was foot down hard on the gas and I was working all my waking hours.

That helped me get out of the situation.

But most of the time I try to strike a balance.

So let’s so you are intrigued by the idea of side hustles or a side business, but the idea of working all the time doesn’t strike you as very worthwhile.

Can a side gig really be that useful?

Let’s say you pick up a side hustle that makes an extra $100 a week. That’s a pretty low bar.

You could do that driving for Uber 5hrs a week.

You could do that by working 2hrs a week on an app like Task Rabbit doing a simple handyman job.

You could do that by taking 1 drone photography real estate job a week (and probably make more than that).

There are unlimited ideas for making extra money these days.

Let’s say, just from your day job, you are investing $500 a month right now.

For this example, let’s assume it’s into the S&P 500.

If you invest that $500 into the S&P 500, then in 25 years it could be worth $663,417

Now let’s take that same equation and add our $400 a month side hustle income directly into our investments.

So now we’re investing $900 a month. After 25 years into the S&P 500, that could turn into $1,194,150

That 2-5 hour-a-week side hustle could buy you an extra $530,733 in investment returns.

To me, that’s absolutely massive.

And of course, thanks to compounding, that only gets more extreme the more money you throw at it.

Earn an extra $1000 a month with a side hustle so you can invest $1500 a month and in 25 years you could have $1,990,250.

I think you see why I think side hustles are so powerful.

Not only did they help me pay off all my debt WAY faster than if I just kept cutting back on my budget with my single income…

But side hustles can absolutely supercharge your investing strategy.

On YouTube, I have an entire playlist of side hustle ideas. If you want to earn more, check it out and you might get a few good ideas:

My challenge for you: if you haven’t tried to earn a little extra money on the side, try to do so next month.

Even if you only end up with an extra $50-100, it could be something that changes your financial life.

Good luck!

Andy

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