Tips to Consider When You Want to Start a Side Hustle

Tips to Consider When You Want to Start a Side Hustle

A young woman on her computer working on her side hustle at home

Are you struggling to make ends meet? Do you want more money for savings? You might consider a side hustle. A side hustle is a way to make money. Of course, you still need to work, but a side hustle offers extra money. It's something you do in your spare time. It may sound easy, but there are things you need to consider. Here are some tips to consider before starting a side gig.

Make a List of Your Interests

Before you start selling makeup or essential oils, it's a good idea to make a list of things that interest you. You might list things that you're good at doing. Once you have it, read through each item. You're looking for ideas to make money by doing the listed items.

In some cases, there isn't a way to make money from the interests you have. However, some of these interests will have a way to make money. Once you find something that you enjoy and could make money at, you need to make a plan to do it.

Decide How Much Money to Invest in a Side Hustle

In some cases, you may need to buy tools or special items to set up your side hustle. You may need to pay someone to clean your car to work for Uber or Lyft. If you're thinking of cleaning gutters on the weekend, you may need to invest in a tall ladder.

Before you start a side gig, you need to set a realistic budget for how much you're willing to spend. If you don't have the money, it's time to consider something else as your side hustle.

Do You Have a Conflict of Interest?

Some side gigs might create a conflict of interest with your day job. For example, you work for a marketing firm and want to write content as a side gig. It creates a conflict of interest if you work for your company's clients. You're taking clients away from your employer, creating a conflict of interest.

If you think you have a conflict of interest, you need to abandon the idea. You might be able to reconsider it at a later time. It's always beneficial to remain at your day job.

Schedule Time

You can't decide to sell pottery and set up a website without ever making a bowl or vase. You need to schedule a time to work your side gig each week. You might assign an hour each day or a half-day over the weekend.

When you start a side gig, it'll take time to set up. It's a good idea to schedule extra time in the beginning. Consistency is the key to a successful side gig. You need to put time into it to earn the money you want.

Your Day Job

In all the excitement of creating a side hustle, it's easy to neglect your day job. You don't want this to happen. You may enjoy the extra money from a side gig. However, it isn't enough money to meet all of your expenses.

Put the same effort into your day job as you did before you started a side gig. It's a good idea to keep the two ways of earning money as separate as possible. You don't want your boss firing you. It might happen if he catches you on the phone with clients for your side gig.

With a little thought and planning, it's possible to set up a side hustle that makes money. It's beneficial to find something that you enjoy. Also, you need to invest the time to get the side hustle off the ground. You can earn the money to improve your life or build your savings.


Old Dominion Associates understands that tracking multiple due dates is complicated and takes time away from living your life which is why we ask you to choose your monthly payment date. One date. That’s all. And did we mention that this won’t affect your credit score? Let Old Dominion Associates be your guide to financial peace of mind.