“Nothing awakens the conscience like a lot of money.”
― P. Sainath
I often read through FI blogs and literally become green with envy (ok so not literally) with how much they make with side hustles. I remember when I was working (wow I really get to say that now!) I would search the internet googling “ways to make quick money” and feel almost energised by the amount of “opportunities” that I could make easy, quick money from. The reality? Erm very different. I do wonder if they are really what I have in mind when I think of “side hustles”
When I first left I threw myself into matched betting and eBay. We all know how my matched betting turned out and whilst I did make some small change selling on eBay. It was just that. Small change. Maybe I was expecting something else, something more. Possibly my imagination and hopefulness got away with me and I expected an empire?
I’m really fascinated by side hustles and it really does seem like people make a decent sized extra income from them. I have decided to split them up into groups. This grouping isn’t perfect by any means so I’m sure I’ll tweak it as time goes on.
The other job
Everyone knows about Jay Leno, He has always had two income coming in. This was so successful that he never touched a penny of his “tonight show money” With one income being saved, its easy to see how FI is achievable and relatively quickly. Ironically, that was myself and Mr Fire’s original FIRE plan. We would “bank” my income and live off his. Obviously we couldn’t predict the future and how ill work would make me. Now we need a new plan!
The common way of adding an additional income is usually to provide a part time service in addition to your full time day job:
I’m a complete introvert, so to me most of these seem like torture! We do have some ideas along this line though that I will be blogging about under my “tried and tested” series that I planned to start a while ago. The online ones appeal to me the most obviously, as being online is like being visible and invisible all at the same time!
The prospect of selling your unwanted goods has always appealed to me. A simple online search shows how popular eBay and Etsy are. I underestimated how bitty eBay was when I started but soon seemed to get on top of it.
Usually the really good (aka lucrative) side hustle ideas are the ones were people already seemed to have a bit of money to begin with! I remember reading a blog describing their plan to make x amount of money in a year from a side hustle. I was so excited to read it only to find they owned twelve properties that had all be rented out for the year.
Is it weird I think blogging is networking? What would you call it? I have always found it hard to understand how people make money from blogging. I mean I understand the principle of it but I find it hard to see how it converts into cash.
There are some interesting ideas that don’t fit into any of my neat little categories. Notice how I have included online surveys? Even though I don’t believe they work after my little test, people still claim they are a nice little earner.
So are side hustles a scam? I still have no idea, however I am going to chose some of those listed above that I’m most interested in and test them out.
What side hustles do you do? Which ones are you most interested in?