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Last Updated on August 17, 2022 by coffeepo
Are you looking for ways to earn extra money while studying or maybe you need some extra cash in your pocket?
Well, then it might be time for you to get a side hustle. The good thing is that there are a lot of side hustles to choose from—freelancing, odd jobs, or one-time gigs. But the real challenge is figuring out the best one with so many options available.
To help you find the right side hustle, we wrote 5 questions to ask yourself before you take the plunge.
1. Is it something I can do?
Let’s be honest. Impostor syndrome is real, and it’s something most people feel every day. But just because you feel like you’re not good at anything, doesn’t mean it’s true. You can make money doing what you already know with the tools you already have. You just need to change your mindset first.
One way to find a side hustle that works for you is to look for one that lets you apply your skills and talents. Let’s say you’re good at writing. Your next step would be to build a writing portfolio. You can include past schoolwork or personal writing to highlight your capabilities.
Your next step would be to do a quick Google search for “online writing jobs.” Chances are, you’ll find tons of freelance or remote writer jobs. Then, all you need to do is jazz up your resume, write a cover letter, and send a job application.
Remember: It’s less overwhelming to find side hustles you know you can do than one beyond your skill set.
2. How much will it cost me?
“It takes money to make money.” This old saying continues to be true. So, before going all-in, think about how much money you will need to start a side hustle and see if it’s worth it.
Nearly 70% of people who look for hustle ideas do so for financial reasons and can’t afford to spend more on starting a new business. So, it makes sense that the best side hustle is one that won’t ask you to pay or buy anything to do it.
One thing you can do is look for freelance jobs on websites such as Fiverr and Upwork. On these platforms, you can do various freelance jobs like writing, graphic design, virtual assistant work, or web development. All you have to do is sign up, get your freelancer profile approved, and look for the best side hustle that suits your skills.
3. Can I make time for it?
You probably have a few side hustle ideas that align with your skills and interests. So, your next step is to think about how much time you can spend doing a side gig. As much as possible, your side hustle shouldn’t interfere with your main job—whether you’re working or studying.
Look at how you’ve spent the past weeks. Reviewing how you spent the past few days helps you identify downtime and the days you’re free to work. Whether you’re studying or working a full-time job, you more or less have a fixed schedule. In that case, the best side hustle for you is freelancing or doing weekend gigs on Doordash or TaskRabbit.
Pro-tip: Choose a side gig that is flexible enough in terms of deadlines.
4. Will it pay me well?
Now we’re getting to the good stuff. Before you dive into anything, ask yourself if you’ll make more money doing this side hustle or another. One of the reasons you’re looking for side hustle ideas is that you want more money. Naturally, the best side hustle is the one that pays you more than what you currently make.
But, this isn’t always the case for freelance work or odd jobs. There are a lot of employers and clients out there looking for quality work for low pay. That means you have to be sure that the side hustles you choose are worth doing and spot the red flag clients from the good ones.
It’s a good idea to know the standard rate for whatever side hustle you apply for. If you’re looking into freelance editing or writing, there are a lot of editorial organizations that post their recommended rates (e.g., EFA and CIEP).
Remember: Don’t commit to a low-paying side hustle—especially if you’re good at what you do.
5. Is this the best option?
Side hustles can be a great way to earn extra cash, but they can eat up your time and focus. You have to be sure that having a side gig won’t make you lose sight of your goals. Set boundaries and clear expectations before accepting an opportunity. It’s easy to get lost in your work and studies, so you really need to make time for yourself.
If you’re lucky and have other options, consider those before committing to freelance work or other side hustles. As we mentioned earlier, the best side hustle is the one you can do with what you know and the tools you have. So, take all of these questions to heart, and weigh the pros and cons of each one.
Because the best option for you is one that makes you feel good. And sometimes, the best side hustle might be the one you least expect.
The best side hustle helps you grow
There are a lot of side hustle ideas available online and offline. But, with all these opportunities, you need to take time to decide on the best one.
The 5 questions above can help cut down the time you spend wondering and thinking about the best side hustle. And as we said, a good side hustle is something you’re already good at, pays good money, is something you’re willing to make time for, and will help you meet your goals.
We want to help you in your personal journey to career fulfillment and financial freedom.
After reading this article, you’re now armed with the tools, so go out and do it! See you in the winner’s circle 🙂
