SUMMARY SUNDAY IS A WEEKLY POST WHERE I PUT OUT A SHORT LIST OF THE PERSONAL FINANCE BLOG POSTS AND ARTICLES I LIKED THE MOST THROUGHOUT THE PREVIOUS WEEK. LINKS TO EACH POST ARE IN THE HEADERS. I HOPE YOU ENJOY THEM TOO!
Somebody close to me recently told me he is done with living in debt and he wants to get better with money. He has started the journey towards financial freedom and I think I might be even more excited about it than he is, hahahaha!
One of the things he mentioned is that he needs to start earning more money. There are a few ways you can do this. Getting a raise at work is, of course, a tried and true method. Or transferring to another company to take advantage of a higher offer.
But doing so may not be possible, or the terms of the agreement may not be good enough. For instance, there might not be enough flexibility if you are expected to work longer hours.
Plus, as I’ve discussed before in my post about multiple income streams, having a side job protects you against job loss because losing your job won’t mean losing all of your income.
Another option is to get a part time job. Or, as the cool kids are calling it, a side hustle. Why “side hustle”? Well, the side part is obvious. It’s a side job. But the hustle part – that’s there because everyday you’re hustlin’! A side hustle is intended to bring in extra income to pay off debt, increase wealth, and/or move towards financial independence. Just what my friend needs!
The Origins of ‘Side-Hustle’
That’s right, I’m breaking out the (virtual) dictionary. I love dictionaries because words mean things. Check this out to see what side hustle means. For instance, apparently it’s been in usage for longer than I expected. It may be what the cool kids are saying these days, but it’s actually been around for awhile – just not in common usage.
99 Side Hustle Business Ideas You Can Start Today
Side Hustle Nation is one of the leading websites on starting a side hustle, and this list is a great place to start. Some of these ideas can be started today…others require a much larger investment of both time and money.
Bonus: this list is actually more than 99 ideas. There’s something in here for everyone!
50 Jobs, Gigs and Side Hustles You Can Do From Home
Is the Side Hustle Nation list not enough for you? Or do none of the jobs match your needs? Here is another list of side hustles, specifically focused on those you can do from home. This kind of job is especially great if you are a stay at home parent or care-giver! I know a lot of people who would not be opposed to doing #5…
Working from home is a great way to start a side hustle because the jobs almost always include a lot of flexibility. If you want to earn extra money but need the ability to work around your main job and family obligations, this is probably the way to go.
How to Use Side Hustles to Pay Off Debt
Millennial Money Guide – May 16, 2017
And of course, since the inspiration for today’s theme is my friend who is aiming to pay off his debt, I had to include a post on using side hustles to pay off debt!
This post has some important tips about using that side hustle money to pay off your debt instead of just increasing your spending. If you aren’t starting a side hustle to pay off debt, but to increase savings, you can use the same tips. Just convert the money from debt payoff to investing. Nice….
My job’s contract is coming to an end this year. I’ll have been doing this for three years and struggle with the prospect of getting another job. I know the economy is going to head south and want to have as much money on hand to invest while prices are low.
In the meantime, I started my blog to develop the skills to pursue other businesses and online ventures as well as to make a little bit of money through affiliate marketing.