The Real Math on Side Hustles
Before you start any side hustle, calculate your actual hourly rate. Include all the time you spend: commuting, preparing, administrative work, not just the time you're actively earning.
Driving for rideshare apps might look like $25 an hour, but after gas, car maintenance, insurance, and waiting for rides, many drivers make closer to minimum wage. That doesn't mean it's not worth it, but you should know the real numbers.
High Value Options
The best side hustles leverage skills you already have. A web developer doing freelance projects will earn more per hour than starting from scratch in a completely new field.
Tutoring, consulting in your professional area, freelance writing, and skilled trades work tend to pay well because you're selling expertise, not just time. Even better if you can do it remotely and eliminate commute time.
Making It Work
Side hustle burnout is real. You only have so many hours, and working every evening and weekend isn't sustainable. Be strategic about which opportunities you pursue.
- Calculate your true hourly rate before committing
- Set boundaries on hours, don't let it take over your life
- Track your side hustle income separately
- Have a specific goal for the extra money
Whether it goes to debt payoff, savings, or investing, knowing where that money is going makes the extra work feel purposeful.
Track Every Dollar
Side hustle income can be irregular and easy to lose track of. Use Spendify to monitor what's coming in and make sure those extra dollars are actually going where you intended, not just disappearing into general spending.
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