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There is no doubt about it, you need to have some side hustles in 2024. It’s not enough to make cuts in your budget anymore.
As a way to save money, a lot of people look for ways to cut from their budget. That’s not going to work in 2024. You need side hustles instead.
A side hustle is something that you do outside of your full-time work. Some business contracts will have it written in that you can’t moonlight or do another type of work, but those contracts are unrealistic anymore. Plus, it’s not likely that your boss is actually going to find out unless you’re doing your side hustle on company time.
I’d recommend having more than one side hustle if you can. A couple are a great way to keep some money coming in—don’t put all your eggs into one basket.
Why are side hustles necessary instead of cutting from your budget? Here’s why you need them.
There’s only so much that you can cut
The cost of living is going up considerably, and nobody is doing anything about it. The grocery stores are boasting about record-breaking profits, and it all comes from their price gouging on something that is a necessity. Until the governments actually step in to help, there will be more and more people living below the poverty line.
You can’t keep cutting from the budget. You’ve likely already cut out the subscriptions. You’ve stopped going to the hairdressers, and you’ve likely stopped buying the fancy branded items at the grocery stores. You’re constantly looking for items that you can cut from the budget, and it’s still not enough.
It’s time to add income into your budget and not take something out. Side hustles* will help you add the income in.
It takes time to build up side hustles
While you may not need the extra income just yet, you may need it in the future. You never know what’s going to happen to your job. Just look at all the industries that we thought would be safe and then the pandemic wiped a lot out.
You’ll want to make sure your side hustle or two is up to scratch to bring in the money. It takes time to do this, so you’ll want to do it when you have the time and funds to grow it. Then you’re not panicking as much when it comes to relying on it.
MORE: Making money online: If it seems too good to be true…
Stop cutting out all your luxuries
Not only can you not cut everything out, but you shouldn’t have to. We all deserve to enjoy some of life. There’s no point in living if it’s just to survive. The problem is your pay isn’t going up and you can’t find or don’t want a second job.
You need to add some side hustles* instead. You’ll want to get them to the point of where you make money for your luxuries. It could be enough to afford the monthly gym subscription, or maybe it’s enough to afford your trips to the salon.
When I look at a side hustle, I have a goal for the income in mind. My main work pays my rent, while my side hustles will pay for Netflix, the gym, eating out, etc. This way I know that if a side hustle isn’t working, I need to cut back on a specific area of my budget while I replace that income.
Do something that you enjoy with side hustles
We’re not living on this planet just to survive. Life shouldn’t just be about a job that we don’t really like doing. So, you need to find something to do that you do enjoy. That’s the beauty of finding a side income-creating hustle.
It’s important to do something that is fun. That could be creating content on TikTok, or maybe it’s writing blog posts. You could do graphic work, or even create videos and images for businesses. You’re doing something that works the creative side of your brain, giving you something to look forward to.
It’s 2024. We’re not working the farms for 18 hours a day anymore!
It could become a full-time job
Wouldn’t you love to work for yourself? Okay, this isn’t a dream for everyone, but it is for many people. 2024 could be the year to do that, but you need to make sure you get yourself ready. The best way is to create your side hustles*.
These could grow in a way that make them your full-time income. That’s the way I technically started with my writing. While I was unemployed, I was still looking for a full-time job when I started writing. I then decided to throw myself into writing full-time because finding a job in the middle of a recession was impossible.
Of course, when one of your hustles becomes a full-time job, you’ll need to add another side hustle. The aim is to keep growing your income, boost your creativity, and not put all your eggs into one basket.
MORE: What is a no-spend January (and should you do it)?
Are you looking at side hustles in 2024? What do you dream of doing in the future? Share your thoughts in the comments below.
