We know that side hustles are a way to earn extra money alongside the normal form o employment. Side hustle always comes with promises of a vacation, ability to save for a future, and have a financially stress free life. Side hustles can range from different stuffs including flipping things on e-commerce sites, part-time uber driving, or doing things you love for money.
While side hustle gives this promises, nobody loves ding an extra job for the fun of it, instead they do it because they need it. That said, you must have heard financial gurus telling you that in other to be successful, you need a side hustle, or maybe they tell you nobody got wealthy from a 9-5 job.
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For something to be called a side hustle, it must bring in income into the table else it is just something you are doing out of love or a hobby, it should be flexible and not affect your work schedule, you should be able to do it yourself and if you need to bring in people into it, then it should be your main job.
Most side hustles are usually businesses but when they are taken as side hustle, making a living out ot them can be impossible. If you are an Uber driver, you might be making a fair amount of money, but the majority of the money you make is going to the company. Flipping things in online market places are even better than Uber and one can make money from it. It can also be done in flexible schedules, and doesn't need much expertise but then, if you are going to be doing this every time, and it is bringing in more money than your regular job, then why do you not focus more on that making it a full time job than doing it on the side?
Whatever hustle you are adding more value to should be where you should focus on be it your main job or the one you refer to as a side hustle. But then where did side hustle come from? It began when the IRS looked at wealthy people who had died within the 90s and 2002, and realized that they had taxes from several sources of income. These incomes included Investment income, earned income, rental income, royalty income, capital gains, profit and interest.
To have those type of incomes, being rich is the first criteria as they first built one business or focused on one career before using the income from their business or career to build their empire. So saying they had 7 streams of income from the beginning is a complete lie. The truth is, nobody gets rich by doing half a dozen job but you see, most people telling you to increase your income stream are either looking to sell you a course on building your next income stream but still have it hidden.
The reality remains that a person is either doing multiple jobs or not, and not sugarcoating it as side hustle. Ultimately, whether one chooses to pursue multiple jobs or focus solely on a single career path, the key lies in authenticity and alignment with personal values and objectives. Rather than glorifying the notion of side hustles, it's crucial to approach them pragmatically, recognizing their role in achieving financial stability and fulfillment.