Making extra money

Everybody needs a extra income, job.

One great thing about a side hustle or independent gig is that it generates money that is independent of the money earned through your main job. That makes those dollars more valuable in security terms than the dollars earned from your main job.

Say that you earn $50,000 at your main job and that $10,000 goes to taxes and $5,000 to savings. Say that of the $35,000 you spend $15,000 goes to non-essentials (vacations, new furniture, etc) and that $20,000 is what you need to spend to keep going (mortgage payments, health insurance, etc.)

Now say that you earn $5,000 at a side hustle. You could lose your main job and still only be $15,000 short of the amount you need to live that year. If you have just three years of savings in the bank, you could wait one year to take a new full-time position if nothing good came along for that long. Being able to be choosey about your new main hustle can make a big difference in your lifetime earnings number.

Having an independent income stream does not only provide added dollars. Over time, it translates into enhanced opportunities!