Today, about 55 million Americans or more than 35% of the U.S. workforce report having some kind of side hustle that complements their current full-time profession. With so many ways to make money online, anyone can turn side hustles into an additional stream of income making six figures or more while still retaining their traditional day job. While there is no magic bullet when it comes to finding the perfect balance between a 9-to-5 job and a side hustle, here are three ways to reap the benefits of a lucrative side hustle alongside a full-time job that pays the bills.
Set a Schedule
Managing side hustles or becoming a freelancer can be challenging especially with a full-time job. That is why it is important to have a realistic schedule and stay consistent with it even if it means sacrificing some of the extra free time after work and on weekends. Having a work routine may involve setting up a daily, weekly, or monthly schedule to identify areas to carve out extra time for side gigs. Another tip is to utilize small opportunities or little snippets of time throughout the day and make full use of them. A good example of this would be responding to emails via smartphone during commute hours on public transportation to maximize productivity and make the most out of these small moments of downtime.
Managing Time Wisely
Whether a side hustle is scheduled before work or after the regular 9-to-5 hours, be sure to cut out distractions as much as possible. One helpful tip is to turn off the TV, put the smartphone on airplane mode, and consider using a special browser extension that blocks apps or websites that could potentially be a distraction. It can be helpful to leverage automation tools to take the hassle out of doing tedious tasks manually. Having a reliable invoice template is also essential for all freelancers who work on an hourly rate or per-project basis in order to get a breakdown of the services rendered and receive the right amount of money on time. Aside from minimizing distractions and doing tasks more efficiently, having no space for distractions can also help in giving time to what is important at the moment. It is equally important to make health a priority and set a schedule for rest days in order to have enough energy to work on both side hustle and a day job.
When To Quit a Job for a Side Hustle?
The internet is filled with countless of stories about successful people who have quit their 9-to-5 job to enter the world of self-employment. While most people run a side hustle to make ends meet, many side hustles have the potential to be a primary target of income when done correctly. Once a side gig starts earning more money that is enough to supplement expenses like food, necessities, rent, and the equipment needed to run the side hustle, then quitting a 9-to-5 job can make perfect sense. Other factors to consider when turning a lucrative side venture into a full-time career may also include family situation, self purpose, and work-life balance. Likewise, it is also important to be self-motivated and continuously learn new skills in order to upscale any side hustle and live off of it. Because the reality is, the side gig and freelance market have become extremely competitive as more and more experts start to choose this path. So in order to stand out from the crowd, aspiring freelancers should find their niche in a creative way that is sure to put them above others.
Juggling a side hustle alongside a career that pays the bills can be overwhelming to say the least, but it helps in reaching financial goals much quicker instead of solely relying on a single primary career. To avoid the perils of having side ventures, be sure to set up systems and realistic routines to ensure peak level productivity at all times. It is also important to celebrate small wins and tiny achievements from time to time. This will provide a sense of accomplishment and serve as an extra push to execute difficult tasks in an efficient and purposeful way.