Pursuing side income takes a lot of time and effort.
I knew before starting this website that it was going to take a lot of time, which is why I waited for over a year before deciding to launch it. I also knew that doing a little spreadsheet work on the side was going to take an additional time investment. Now that I have these side jobs going, the time investment is becoming very apparent to me.
I love the concept of side income. It exposes you to new things and gives you additional income to save, invest, or spend however you want. It’s “extra” money – at least at first until you become used to it. It does come with a price, though, and that price is the loss of free time outside of your full-time job.
The reason why most people don’t pursue side income is fairly simple: Time and Effort.
When you work forty or so hours a week at your regular job, the rest of your time is free time; you can spend it however you want. Most people do not want to spend this free time working. Not only that, side income usually takes some time before you actually start making money. The upfront time and effort (in theory) pays off later on when you are consistently making money on the side.
What happens when your side work starts gaining momentum? Well, from what I’ve seen…it takes up more and more of your time. While this is a good thing, you do have to spend your nights and weekends committing your “free time” towards this side work or else your momentum can come to a halt fairly quickly.
What advice can I give in my experience about picking what to do for side income? A few things:
- Pick something you really care about: If you hate what you are doing on the side you are never going to be succesful (or at the very least, you won’t be happy). You have to sacrifice free time for work – you might as well enjoy what you are doing.
- Pick something with upside potential: If you choose something that has potential to grow into an asset (i.e. a small business) you are exposing yourself to that potential upside. There is a difference between gaining side income through working at a department store on weekends vs. building up a small business (for example a website, a landscaping business, etc.). The income might not be as immediate if you are building a business vs. working at a department store, but the upside potential will make it more worth your time.
- Pick something that can open doors to new full-time income: While most freelance writers who work on the side will likely never become full-time writers, there is always a chance they will. Same with people who run websites on the side, teach language/music/dance on the side, work part-time as a trainer, etc. This ties in with pick something you care about – pick something that has potential for you to bring in a full-time income because it just might become one someday.
Do you pursue income in addition to your regular job? What are your thoughts on working on the side?
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Photo by Kevin Shorter
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I definitely pursue side income. I really couldn’t imagine not doing so. The extra money is nice to have.
@SenseofCents I can’t imagine not pursuing it either.
I’ve been pursuing that side income for 4+ years now, and it has been a lifesaver at our house. Having the side income meant my wife could stay home with our son, we could afford to do other things we may not have been able to – like travel, and it means that we’re much more secure in where we are and where we’re headed. Yes, it takes up a lot of, or even most of my free time, but I think it’s totally worth it.
@moneymatters Your story is inspiring! It’s pretty impressive that you have been able to leverage your side income so that your wife can stay at home with your son. That’s really incredible.
I have always pursued side income….even when I was younger I would clean houses on the side or whatever it took.
@Holly at ClubThrifty That’s awesome. I think some people just naturally HAVE to find new ways to make income.
I just always thought I’d work at my regular job, but now that I want to work part time, side income is important. Being a weekend warrior is tough (rental update coming Wed) but should be worthwhile. My blog may never make much money, but it could. Both are fun in their own ways.
@Eyesonthedollar Even if your blog never makes a ton of money, you can leverage it other ways. You have an entire writing portfolio of published works in case you want to freelance write on the side.
I’ve been fortunate enough to have side income turn into full income in the past, but it wasn’t easy. Luckily I was unemployed so there was no choice to make about how to pursue it – just had to. But you’re absolutely right on picking to work on something you care about. Nothing makes life more stale than working on things you don’t like.
@Veronica @ Pelican on Money Absolutely. I couldn’t imagine working my full time job and then coming home to do some side work that I don’t enjoy. That’s the kind of side income I don’t advocate!
I would suggest pursuing side income with your friends. It would make it more fun, you spend more time with people you may not see very often, and you have someone you can share your struggles with!
@SupermanIsReal When I saw your comment I got all excited and yelled at Victoria that you had commented! Really appreciate it.
I like your idea, but have found it difficult. I find it easier to pursue it on my own (tho I have launched multiple websites with others). Unfortunately every time I started something with someone else, it didn’t’ go anywhere. I definitely think it can work, tho!
@DC @ Young Adult Money I’m a quiet follower, I shared your link on my facebook a few weeks ago!
@SupermanIsReal I appreciate it!
Time is money they say and that is certainly something I’ve learned the hard way when it comes to blogging. Although my intentions were never to make money from blogging as I never thought anyone would want to listen to me. I was wrong so I’m hoping to get the blog up self hosted and a new design so my fans have a place they can call home. Heck if all my effort turns into a case of beer I’m a happy bloke! If it turns into a full-time job that’s great to. I believe things will come to those that wait and have the patience to put the people first. It’s important to do what you love in all that you do. Cheers Mr.CBB
@CanadianBudgetB Just checked out your site, I like it! Blogging can definitely be a huge time-suck. I could spend 100 hours a week working on this site and I would still have 100 more things to do. It really teaches you how to prioritize!
It definitely takes a lot of effort but it is fun to me. My advice would be if you do it pick something fun!
@Money Life and More It’s fun to me as well. Definitely is overwhelming at times, but having it be something I actually care about makes it a little easier.
Side income is a good bit of effort…especially if it’s a blog! I have a few hustles that I work, but nothing particularly lucrative; something that would require a lot of consistent dedication just wouldn’t fit my schedule. Although the blog is testing my own words here. :)
@femmefrugality Haha yes a blog is incredibly time consuming to manage and there is no guarantee of $!
Most people are so damn lazy! Whenever anyone asks how I have time I always ask how do you not have time?