Why It’s The Best Time To Focus On Your Side Hustle?

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a blog featured image Why It’s The Best Time To Focus On Your Side Hustle?

Side hustles and extra jobs seemed like a mere fringe idea for some people. However, for 37% of the American population, it is a way of living and surviving the capitalistic economy. Because let’s face it, our wages are not growing; the only thing that does is the cost of living. Coupled with the endless student loans and high taxes, then you might as well say goodbye to your dream of early retirement.

Unless you enjoy living life paycheck to paycheck, then making a sweet extra income by starting a side hustle is for you. You get to face all your financial obligations, while also building your savings in the process. After-hours freelancing, online selling, and weekend delivery services are just some of the easiest income-generating hustles. You only need the passion to pursue and the motivation to take the risk and succeed.

For most people, side gigs are only “secondary” work that is more fun and less stressful than their actual jobs. However, a side job that provides you with a decent amount of money is something that you should take seriously. Especially now that COVID-19 is incapacitating every nation and economy all across the globe.

With every business and company on lockdown, almost everyone is left jobless. Money is getting tighter and tighter as the government talks about extending the quarantine. During this pandemic, people cannot help but worry about their financial health. The perennial economic challenge for minimum wage earners is already difficult under normal circumstances; what more during a turbulent period such as this?

Financially saving you from going broke are your home-based jobs and side hustles. There is no better time to focus on your side job than NOW. Without your full-time day job at the picture, you can devote all your quarantine time to focus on your second career. A second career that can jump-start your savings, increase your investment, and make ends meet.

Here are a few reasons why you should focus on your side hustle, now more than ever.

  1. Source Of Income

There are multiple reasons why you should start a side gig, but an additional source of incoming tops any other reason there is. Everyone wishes for life so comfortable you won’t ever need a reason to check an item’s price tag before buying it. You can finally pay off your looming debt while simultaneously saving some cash for yourself.

A second job is also useful at times like these. National emergencies might be rare but when they happen, they happen rapidly and often strikes us where it would hurt. Having another source of income, especially from a non-traditional job, gives you financial security. It also helps in building your emergency fund, which you can rely on in times of great need.

  1. Build Your Skill

These days, it is rare to find a working adult that actually loves and enjoys their 8-5 jobs. More often than not, they are stuck at their humdrum job, working at the expense of their dying passion and skill. It is always tempting to crave for a job that you are passionate about. A job where you can work for yourself, at your own time, and one that pays well.

Having a traditional job does not mean you cannot pursue your passion on the side—that is what side hustles are for. Moreover, you can always focus on your part-time job to build your skillset, and eventually, make it your primary source of income.

Take this opportunity to advance your learnings and skills for your side gig. Whether it is freelance writing or a dropshipping business, use this time to research marketing strategies, get more projects, and take diverse job orders. Experience the joy of turning your passion into a lucrative side hustle.

  1. Self-Development and Purpose

A problem for most people who had been on a specific job for a long time is the loss of self and purpose. They have lost the meaning of their work and in the process, have lost their sense of purpose.

Focusing on your side job can bring back your lost vigor and energy. It will allow you to develop a new sense of purpose from a job that you actually love doing. Venturing on your own, exploring new ideas, and coming out of your comfort zone is the road to self-development and awareness. 

Wrap It Up!

All in all, starting a side hustle as early as now is a stellar idea. There’s no such thing as perfect timing anyway so starting early should help you work the bugs out in your business. It’s definitely a wiser move than not taking action at all. If you need help with turning your side hustle to a business that is Profit First, then feel free to reach out. Annette & Co. will be more than happy to give you some advice! 

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Annette Ferguson

Annette Ferguson

Owner of Annette & Co. - Chartered Accountants & Certifed Profit First Professionals. Helping Online service-based entrepreneurs find clarity in their numbers, increase wealth and have more money in their pockets.