How To Find A Side Hustle That's Right For You

Starting a side hustle can be an exciting journey. Making extra money outside the typical nine-to-five grind is an endeavor for a motivated person. However, it's crucial to find the right one. You don't want to be spending the few hours you get away from your full-time job doing something that completely drains you mentally or emotionally. You also want to be sure it pays enough to be worth your time. Therefore, it's important to think about what energizes you and what will motivate you to keep going, even after the work day ends.

Financial planner Angela Moore told The Balance Money that diversifying your income streams is one of the best ways to build wealth because it can help provide some level of financial stability amid uncertainty. If your primary job has unexpected layoffs or pay cuts, you can still have comfort knowing that money will come in from another source. Whether you are saving for retirement, paying off debt, building up an emergency fund, or wanting to increase your lifestyle, getting a clear understanding of why you are starting a side hustle is essential.

If you are starting a side hustle because you are desperate for extra cash, financial stability will likely be your driving force, and the work itself might be of little importance to you. However, some of the most successful side hustles start out as passion projects. Think about what skills you have and what hobbies you enjoy, then ask yourself how you could combine those for monetary value.

It can be easy to think you don't have any lucrative skills to sell, but everyone has abilities or interests that make them unique, and finding that niche is the best place to start when trying to make extra money. With 40% of Americans turning to side hustles for extra cash, according to Zapier, there are definitely many options to choose from.

If you love reading fiction or nonfiction books, getting paid to review them could be perfect. If you've always enjoyed watching the latest movies or television shows, becoming a freelance entertainment writer might be right for you. If there is a topic that you know a lot about, talking about it on YouTube could set you on the path to monetization and earning passive income.

Being realistic about your time commitment and side hustle goals is also helpful. Are you determined to be able to work from home or create your own schedule? Is there a certain industry you want to gain experience in like catering or party planning? Being honest with yourself about how much time and energy you want to put into this side hustle will be important. While tutoring students after school or driving for Lyft may guarantee you money instantly, nurturing a passion project as a side hustle like a food blog or an Etsy store will likely take more time to turn a profit. This is why recognizing what your long-term and short-term goals are with your side hustle is important.

Zapier also discusses the generational differences when it comes to side hustles. While millennials and Gen Z have key differences in how they spend their money, they are far more open than boomers to making money by having a side hustle. Although side hustles are often about making extra money, more and more people are viewing side hustles as an alternative to their corporate jobs. Choosing the right side hustle that revolves around a passion and has massive upward mobility could be your ticket out of the typical nine-to-five lifestyle.

According to Real Simple, avoiding burnout with your side hustle is central to the gig, which is why finding something fun is imperative. While all work will take discipline at times, finding side hustles that actually energize you is a game changer when it comes to longevity.

To quote WealthWise founder and author Jari Roomer, "Use the weekend to build the life you want instead of trying to escape the life you have." When you start looking at side hustles with this mindset, finding the right one becomes much easier because it needs to align with your other life goals.