Have you ever wanted to take a vacation or buy the latest tech gadget only to be held back by financial restraints? Did you lose your job because of Covid 19 mandates? Have you ever been fired? Are you a stay-at-home mom wanting to bring in a little extra income? Do you have a unique skillset? Whatever your situation a side hustle could bring in that extra income to fund things you've always wanted to do.
Here are 8 reasons you should start a side hustle today!
1. Diversify your income.
If someone in 2019 told you a global pandemic would lock down the entire world forcing people to shelter in their homes to ride out the virus? Probably not. Many people were forced into unimaginable positions. In times of uncertainty, multiple income streams could help lessen the financial burden if you find yourself out of work. Online income allows the flexibility to work from home and the freedom to work as you please when you want, wherever you desire.
2. Ignite hobbies and passions.
Do you have a unique skillset or a hobby you want to spend more time on? Whatever your hobbies or passions there is an opportunity to make a little side income. For example, you like to sew. You can make things like scrunchies, pet bandanas or start a home business offering tailoring services to your local community. Do you enjoy physical labour? I know many households in my community who hate shovelling snow. You could offer your services and provide snow removal services to your neighbourhood. Are you an artist? Showcase your work on social media apps like TikTok or Instagram and take commissions.
3. Tackle debt.
In 2020 according to a CBC report "the average Canadian now owes $73, 572." Starting a side hustle is a sure-fire way to start beating down the debt and freeing up our accounts to do more of things we love.
4. Save for a home.
It's no secret that housing prices are at all-time highs. Starting a side hustle can help you build your savings and get you into that home you've always wanted much sooner.
5. Start investing.
I don't know about you but I LOVE investing. Call me weird, but given the option to go on a lavish vacation or put my money into the stock market I would choose the market. Now that's not to say I don't take vacations I just prefer to watch my money grow to allow me to take those vacations later on. There is nothing that makes me happier than watching my money grow passively.
6. Career change Anyone?
Starting a side hustle can easily morph into your life hustle. By starting something built around your hobbies and passions can open opportunities for you to leave that 9-5 and start a new adventure.
7. Spend more quality time with loved ones.
Are you the type that loves to be with your spouse? Kids? Family? Friends? Starting a side hustle can bring in that extra income for you to plan those vacations or go part-time at your 9-5 and take in those moments with the family.
8. Challenge.
Venturing off into the world of entrepreneurship can be hard. It will challenge you to figure things out, learn new things and possibly fail. But with every failure comes new lessons. We grow, we learn and we get better. If you like a challenge I urge you to try a side hustle. Let me know how it goes!
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