If you’re reading this and thinking what on earth is that?! You are in the right place to find out. A side-hustle is essentially a means of making money on the side of your regular full time job. Some will use a side-hustle to supplement their income, and others may take up a side-hustle in the hope of turning it into a full time business one day. After all, not many entrepreneurs have the luxury of starting a business from scratch without another full time job.
The side-hustle has grown in popularity as the internet has become more and more of a prominent feature in our lives. The internet has opened the door of opportunity for many and has made the side-hustle accessible for anyone who has a computer in their homes- there are now a huge amount of freelance opportunities that you can take up from the comfort of your sofa.
In major cities where rent and living costs have increased exponentially, whilst wages have remained largely the same, big percentages of the population will have a side hustle to help them make ends meet. Last year, The Independent reported that 40% of UK workers now have a side-hustle project.
So, if you are thinking you’d also like a slice of hustle pie- how could you find the right side-hustle for you?
First of all, it is important to take a look at what skills you currently use in your full time job- computer skills? Writing? Photoshop? Social media? These are all things that people will pay handsomely for in the world of freelance work, especially if you have previous experience and can demonstrate your skills effectively with a sample piece of work, testimonials or stats.
If you’d rather do something different to your day job when you get home in the evenings, you could look to your hobbies and interests to find the side hustle for you. When launching a hobby based side-hustle, you will also need to do some background work to promote your new venture. Love vintage clothing? You can buy and sell vintage on Etsy – but make sure you open an Instagram account to help get the word out about your online store.
A ton of hobbies can be transformed into side-hustles – a friend of mine has recently become a chocolatier on the side of her day job, another a candle maker. To find your perfect side hustle, you need to consider how much time you are willing to dedicate to it, and how much profit you would ideally like to make from it. Carefully consider any start-up costs to ensure that you’re not left out of pocket if things don’t pan out how you’d like them to.
Think outside the box to find out what you would truly love to do on the side – and then go and make a start on it. There is no time like the present to take action on an idea, you’ll only look back a year from now and wish you had started sooner! Side-hustles can soon become your passion project, and who knows, your side-hustle could even turn into a full time business.
Laura became a Londoner in September 2016 and once moving to the capital realised she was going to have to put herself onto a strict budget. She started the Thrifty Londoner blog to share the money making, saving, and budgeting schemes that she has learned along the way. Her regular series ‘Savings Stories,’ aims to lift the lid on the struggles that millennials face when trying to make ends meet whilst living in London, with rent prices skyrocketing and wages stagnating.