I'm the QUEEN of Side Hustles

People tend to underestimate the impact a good side hustle can have on your budget and your debt situation. When money is tight and the credit cards are getting out of control, a good side hustle might be exactly what you need.

It's certainly better than a second job. Why?

• Second jobs are taxed very unfairly
• You don't have a lot of control over your hours
• And you have not one, but two bosses bossing you around

But with a side hustle, you are taxed at a much more reasonable level. Also, many people choose to work "under the table" and not report the extra income until it gets to a certain point. I'm not advocating that, but it's a choice.

Also, you have complete time freedom with a side hustle. You can work early in the morning, late at night, skip days as you choose, whatever works for you.

And as far as bosses, you may have clients, but you have the ability to pick and choose your clients and eliminate those that are a pain in the butt! Can't do that with a boss, hmmm?

I've been trying to calculate the impact my side hustles have had on my life.... And I simply can't imagine. You see I've had a side hustle of some kind of other brewing for nearly my entire adult life and my husband usually did too. Some were successful and some were tremendous failures, but you learn a little bit from each one.

And they helped us climb out of debt, gave us a little extra breathing room when times were tight, and allowed me an escape hatch out of my Corporate job when I was completely miserable.

Even today, in my mid-60's when most of my friends have retired, I'm still running several businesses. It helps supplement our retirement, gets my husband out of the house and keeps him busy (he's a handyman), and gives my days a bit of purpose. And it's also allowed us to travel the world together and sometimes with our kids.

What IS a Side Hustle?

That's the wonderful thing. A side hustle can be anything you like to do that you can convince people to pay you for.

You could teach yoga classes, manage a Facebook group, tutor kids, breed puppies, be a personal shopper, refurbish furniture, be a pet sitter, be a bookkeeper, plan parties, help people organize their homes, detail cars, create and sell craft items - there’s so many choices, it would make your head spin!

And for each of these choices, I know someone who is enjoying doing it AND making money at it. My definition of a side hustle vs. a hobby is that it should bring in some actual MONEY. I usually figure $500 - $1,000 per month is a healthy side hustle, but it depends on how much time you have to devote to it and whether or not you choose a profitable business.

Of course, you can't really just wake up tomorrow to a profitable side hustle. It takes a little planning, some smarts, and plenty of hard work. I wish I could wave a magic wand for you and just make it happen magically, but things aren't usually quite that EASY...

That's why I've started helping coach people to start their side hustles. In addition to an idea, you've got to have a smart business plan and a proper foundation - how do you take payments, how to register for a business license, do you need a website, do you have the proper legal protections in place, how are you going to find and connect with clients - literally so many questions to consider.

But in running so many businesses, I've literally done ALL of these, so I am infinitely qualified to lead you through the process of setting up a profitable side hustle.

Also - Side Hustles to Avoid

There's also a few very popular options you want to avoid for various reasons. Remember those failed businesses I've had? I learned a thing or to from that.

Delivery drivers – Doordash, Instacart, pizza delivery, Uber or Lyft. These are all popular, BUT you are putting your personal vehicle at risk. Yes, they might cover an accident, but being without your vehicle for weeks could cost you a lot more than you’d earn from these.

Multi-Level Marketing – Another popular choice I don’t recommend includes MLM companies like Mary Kay, Scensy, Avon, DoTerra, etc.

These companies do have very successful people in the top tier, but most people in the lower tiers struggle to make even small amounts of money and may actually go into debt with the company. I have extensive experience with MLM and I don't recommend them unless you have a huge network of friends and someone high up in the company to show you the ropes.

Get a List of Simple Side Hustles to Think About

I have a free Ebook available with 20 simple side hustles that are easy to start and can easily earn you $500 – $1,000 per month once you grow it a bit.

These are ones you can usually start in a weekend with no special skills or equipment, and little to no investment other than time and maybe a bit of advertising.

Get Your Copy HERE.

If You're Interested in a Side Hustle - Let's Talk

We can talk about your debt and financial situation to see if a side hustle is what you need to dig your way out of debt - I've got some pretty amazing spreadsheets that I use in my debt-free coaching that can pinpoint some problem areas for you.

And if you've got an idea for a side hustle, I can give you some ideas on whether it might be profitable or not, or obstacles to consider to get it up and running.

You can book a no-obligation chat with me HERE.

And if a side hustle isn't your thing, just hang around. I'll have another newsletter with some more ideas for you in a couple of weeks....