Side Hustle : An Additional Path to Financial Freedom
- Category: Professional Liability
- Date: 09-02-2024
The need to fulfill daily life will certainly never end. In many cases, it will actually increase. To meet these increasing needs, it is not uncommon for many people to have to find other ways to get additional income apart from their main job. This condition is often referred to as a side hustle .
Through this article, you can understand side hustle more deeply. Starting from the definition, examples, things to consider before starting a side hustle , the impact to the statistics of each generation in taking a side hustle, you can get it here!
What Does Side Hustle Mean?
A side hustle is an additional job that someone has in addition to their main job for a specific purpose, such as pursuing a passion or increasing income. Reported by Forbes , a side hustle is a great way to increase income, where this activity will also allow you to explore various ideas outside the focus of your main job.
In today's digital age, there are more and more side hustle opportunities that you can try easily, especially online . Check out some examples of side hustles below that you can try in 2024, who knows, one of them might be right for you!
Also Read: Financial Planner: Definition, Duties and Certifications He/she Holds | Prudential Indonesia
Side Hustles You Can Try in 20241. Insurance Agent
This job can also be the right choice for your side hustle. Being an insurance agent is the most flexible side hustle, because side hustles generally have to work with a time commitment, but being an agent can be more flexible and does not interfere with the main job too much. One example, you can be part of the marketing team at Prudential, which can help Indonesian families achieve financial stability against the risks of life that can occur.
2. Freelance According to Interest
Your current job doesn't match your interests? Or is there a field you want to try but haven't had the chance? Maybe freelancing could be the answer. Now there are so many freelance opportunities that you can get. Starting from freelance writing, graphic design, illustrator, photography, video editing, web developer , to marketing or financial consultant.
You can find various freelance opportunities easily, because now there are various websites or applications that serve as a place to collect various freelance opportunities from all over the world. With just the internet and gadgets , you can get freelance and increase your income or explore your interests!
3. Affiliate
Ever heard of the term affiliate? In short, an affiliate or what can also be called an affiliate marketer is an individual who promotes or offers certain products to consumers to attract their attention so that they then buy the product. In the digital era like today, affiliates will generally use special links to offer a brand's products or services on various platforms .
The more people click on the link and even become, the higher the commission they will get. Now, with the proliferation and increasing frequency of digital platforms such as e-commerce or social media used for everyday life, this condition is the right moment for you to become an affiliate !
4. Content Creator
Becoming a content creator is now increasingly in demand by young people. How could it not be? With just a gadget , you can become a content creator who has big profits. This can be the right choice for a side hustle ! You can do it anytime and anywhere. Take advantage of social media to share various kinds of content that you like. You can start from simple content related to your hobbies, such as photography, film, beauty , fashion, books, to music.
5. Online Tutors
If you are someone who is interested in teaching, becoming a tutor can be the right choice for your side hustle ! Especially if you become an online tutor, where you can do it remotely. With generally flexible hours, you can adjust your tutoring schedule to your main work schedule. You can start by registering as a tutor at an institution, or start independently by offering your services to people close to you or through social media. Some examples are you can become an English tutor, math tutor, accounting tutor, and so on. In addition, if you have the expertise, you can also become a tutor in fields that are currently in high demand, such as digital marketing tutors, coding tutors, graphic design tutors, UI/UX tutors, and many more.
Also Read: Online Shopping Strategy to Keep Your Finances Safe | Prudential Indonesia
Things to Consider Before Starting a Side Hustle
Before starting a side hustle , of course there are several aspects that you must pay attention to so that the side hustle will not harm you. Here are some aspects that you need to pay attention to,
1. Physical and Mental Health Conditions
When you choose to take a side hustle , of course there is time and energy that must be sacrificed. Your daily routine may change a little, because some time will be used for the side hustle . Therefore, it is important for you to pay attention first to your physical and mental health conditions.
You can start by asking yourself, are you ready to sacrifice more time and energy to take a side hustle ? Consider the various aspects and possibilities of what will happen to your physical and mental health if you take a side hustle . If you feel that you still have mental or physical problems, it is better to focus on fixing both of those things first until you are ready to undergo a side hustle which generally requires consistency in terms of time.
2. Clear Reasons and Goals
Having a clear reason and purpose before starting a side hustle is very important. This can be useful so that you can run a side hustle with mature planning capital so that you can get effective results. In addition, every time you have obstacles while running a side hustle , reasons and goals can be aspects that can help you find solutions to these obstacles. Especially if your situation is already married, clear reasons and goals can not only help you get effective results, but also set yourself up to be ready for the risk of decreasing time with your family.
3. How to Start a Side Hustle ?
You can start a side hustle first by finding out first to get enough understanding about the side hustle . You can ask people close to you who have been involved in it before, or you can also find out for yourself through several digital platforms .
When you feel you have a good understanding of side hustle , try to think about what you want to do and on which platform you can start your side hustle . Then, do a thorough planning and some backup plans in case something unwanted happens. You may also be able to set a specific target, so that you can be more motivated. Start slowly and don't rush to get big results, because everything certainly requires a process.
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Positive and Negative Impacts of Side Hustle
Side hustling can have both positive and negative impacts on anyone who does it. It depends on how the planning has been done beforehand.
Positive impact
Some of the positive impacts of a side hustle are of course that it can increase income, improve skills or abilities, increase motivation, gain self-satisfaction, and can even be quite good capital if you are thinking about switching careers .
Negative impact
Meanwhile, the negative impacts of side hustles that could potentially arise if you do not make thorough preparations beforehand include becoming burnt out or stressed due to fatigue, main work being messy, to losing motivation due to too many obstacles faced. Therefore, make sure you have made thorough preparations so that you do not feel the negative impacts of side hustles .
Also Read: Frugal Living: Definition, Goals, Tips and Benefits | Prudential Indonesia
Side Hustle Among Generation Z and Millennials
Generation Z and Millennials are taking on side hustles to ease their financial burden. Reported from Databoks through a Deloitte survey titled 2023 Gen Z and Millennial Survey, a total of 46% of Gen Z and 37% of Millennials have additional jobs in addition to their main jobs.
Financial factors are the main reason for both generations to take a side hustle , namely 38% of Gen Z and 45% of Millennials chose this reason. Meanwhile, the second reason is the skill and relationship factor, where this reason was chosen by 25% of Gen Z and 23% of Millennials. Moreover, the third reason is because of the hobby factor, where a total of 24% of Gen Z and 23% of Millennials chose this.
Based on the explanation above, do you now understand more about side hustle ? If you have never had a side hustle before, you can follow the methods above if you are considering starting a side hustle in the future, so that the efforts you make can be effective and not in vain.
Also Read: Mistakes and Tips in Managing First Salary | Prudential Indonesia