In recent years, the number of people working side hustles within the gig economy has exploded. But, buyer beware. Extra money can be great as long as you’re not forfeiting all of your time to earn it. In today’s episode, we discuss side hustles and the gig economy, touching on The Good, The Bad, and The Ugly.
Wanting to earn extra money and needing to earn extra money are two very different financial positions to be in. Today’s fluid and flexible economy means fewer full-time stable jobs and more gig economy work.
This can be awesome if you’re looking to boost your income to pay off debt or go on vacation, but it can turn into a nightmare if you’re unable to find stable work with decent benefits. The latter is becoming increasingly more difficult to come by, sometimes forcing the individual worker to piece together a full-time wage with side hustles.
Not only does working multiple jobs have the potential to consume an exorbitant amount of time, but it can also decrease quality of life and cause emotional stress and strain.
Before committing your precious time to work a side hustle, make sure you do your research and have as much information as possible. Cautious optimism is called for.
Proceed with caution.
Show Notes:
Discussed in this episode:
- Side Hustles, Second Jobs, and The Gig Economy
- The changing American economy
- Full-time jobs and supplemental side hustles
- The number of Americans with side hustles
- Average and median side hustle incomes
- Piecing together side hustles to earn a livable income
- The disappearance of stable, 40-hour/week jobs with benefits
- The Good, The Bad, and The Ugly truths about side hustles
Noteworthy links mentioned in the episode:
- And in-depth read of My Love-Hate Relationship With Side Hustles And The Gig Economy
- USA Today’s article: Do you have a side hustle? At least 37% of Americans do, survey says
- Your Free Comprehensive Guide To A Profitable Blog
