Thinking of Starting a Side Hustle? You aren't alone!

Happy Friday, Community! We made it through another week. :)  If there’s one thing we’ve learned this past year it’s that circumstances out of our control can affect our income, in good and bad ways. A new study from Zapier came out recently and stated that 1 in 4 Americans plan to start a side hustle this year. There are many motivations to do this but diversifying your income can be a great move for business owners. Let’s look at a couple reasons starting a side hustle could be something to look into in 2021.

According to their study, passive income is the biggest motivator for people. Having money come in from a source that you aren’t actively putting a lot of time in is great whether you want to save up or spend. You can even put this money back into your business and upgrade equipment or other needs. If this study shows anything, it’s that people are putting on multiple hats in order to beef up their income.

Picking up a side hustle can also help you test out a business idea or something creative you’ve been wanting to explore. Sometimes your business isn’t completely aligned with your passion or what you like to do for fun; your side hustle can fulfill that part of you without jumping head first into it. Eventually it could do well enough to become something you dedicate yourself to full time.

The most interesting part of this article is that parents of children under 18 make up a big part of this trend and are twice as likely to pick up a side hustle. It can be chaotic balancing work and parenthood, but income from a side hustle can really help pay for expenses like sports, family trips, and unexpected costs that pop up. Even more importantly, it can give parents the ability to put money away for their kids for college, savings, etc.

For the full article, click here: 1 in 4 Americans Plan to Start a Side Hustle This Year.

Anyone in the Community pick up a side hustle? What were some challenges? Let’s chat in the comments!