Many people enjoy a side hustle alongside their work, and why not? A side hustle is a good way to make some extra money, but it can also be a way to use skills and expertise outside of someone’s job.
One of the main issues with a side hustle, however, is that it can start to take over. What should be an easy way to make some extra money can start to interfere with the day job, as well as leaving you without much free time.
So how can you juggle both? It turns out there are ways you can have your cake and eat it too. Is it really possible to work and enjoy a side hustle? Let’s find out.
Choosing the right side hustle
The right side hustle can make a big difference in how things turn out. If you choose something that’s going to take up a lot of your free time, then you need to be prepared for it. Some great side hustles which don’t take up a lot of time include affiliate marketing and investing in Litecoin at https://bitit.io/buy/ethereum-eth. Cryptocurrencies or “cryptos” are digital currencies (like Litecoin) that can be used to pay for goods and services, but secure online transactions with an online ledger using cryptography. These currencies use a technology called blockchain to secure online transactions. Decentralized technologies, such as blockchain, manage and record transactions using many computers. This technology is popular because it offers a high degree of security. A cryptocurrency is, thus, a form of payment that can be used online to exchange goods and services. Several companies issue their own currencies, known as tokens, which can be exchanged specifically for the goods or services they provide. Multiple digital wallet and exchange platforms like Coin Cloud tend to offer an array of interesting offers for digital currency transactions on their platform. It is therefore prudent that you gather the necessary information about the nitty gritty of the domain before you dabble in this field. Nonetheless, other types of side hustles like freelance writing or being a virtual assistant will undoubtedly take more time, so make sure you consider your options carefully to fit around work.
Find the right work/life balance
When you bring work into your free time, your work/life balance will begin to shift. Finding a routine that lets you juggle your regular job and your side hustle will make a big difference to your mood and energy levels, and ensure you’ve got enough time to relax and enjoy other pursuits. There are ways to maintain a work/life balance when your hours aren’t 9-5, so try to find a way to make your side hustle fit in around work. One tip is to only give time to it on certain days of the week or getting up earlier some mornings to get it done. It will take some adjustment on your part, but it’ll be worth it when it all clicks into place.
Make sure taxes are paid
Most side hustles will require you to pay tax on your earnings. This is something to factor in once you realize how much extra you can make each week or month. Learn how to handle taxes for your side hustle so that you’re not caught short with a hefty bill at the end of the year.
Reconsider your options if it gets too much
If things become too much, or your side hustle really takes off, it’s time to reassess your options. You might need to cut down on your work hours, or give up your side hustle if it’s having a negative effect on your career.
Many people find that their side hustle becomes profitable enough to be their main source of income. If this sounds like something you could do, learn how to hit the ground running with your new venture and let your side hustle turn into your career.
A side hustle is ideal for boosting your income, but it’s important to understand what you’re getting yourself into. Speak to others about how they manage their time and find a side hustle that lets you continue your career with a little extra cash in your pocket.