These days, having a side hustle is the new job security.
A side hustle is simply another name for any of these…
And it’s a way to create your own job security, because no one’s job is secure anymore.
Maybe you related the term “side hustle” to being an Uber driver or selling homemade soaps on Etsy.
The world of side hustles is so much larger than that.
It can be anything from selling your jewelry on Etsy to tutoring your neighbors’ kids to creating a blog (one that gets read by people other than your mom).
In today’s economy, where a recession is on the horizon, it’s not surprising that 1 in 3 Americans have a side gig.
Do you feel FOMO from knowing that and not having a side hustle?
Don’t worry, I’ve got you in this comprehensive article on how you too can get job security by starting a side gig.
What Is the Benefit of Having a Side Hustle?
The number one benefit of the kind of side hustle I’m talking about is… passive income, which in turn means job security and a slew of other benefits.
The passive income supports job security, since you’re diversifying your income from just one stream (your day job).
However, let’s face reality: passive income doesn’t grow on digital trees. You still need to put in effort to get people interested in your side hustle.
It’s called a “side hustle,” after all.
You have to hustle to reap the benefits of that side gig.
Let’s take Gerhild Fulson for example. Gerhild’s website shares all the details of hundreds of German recipes. She’s managed to attract a lot of organic search traffic and in turn earns passive income from selling ebooks of her recipes.
These ebooks are considered “passive income” because she created the ebooks once and now folks can buy them forever. However, her level of income is determined by how active she is in marketing her ebooks.
Another example would be, well, me. I love fashion and shopping online, so I write about different clothing/shoes/accessories on my own site., I make passive income through affiliate marketing and display ads.
I had to put in a ton of work (aka hustle) researching and writing each of my articles, to ensure that I thoroughly answered any questions readers might have. And I still have to promote my affiliate links regularly if I want to make more money.
When you love whatever your side hustle is about though, you may not even think of it as “work.”
Why Have a Side Hustle for Job Security?
Like I said before, a side hustle is job security. A safety net for you and your family.
It’s security in knowing that if you lose your job or poor health makes it impossible to do your day job anymore, you’ll still have the income your side hustle makes.
And your side hustle could make even more money than your day job.
A lot of folks keep their “real” job, even working full time, while they build up their side hustle.
Even more keep their job while they grow their side hustle until they’re ready to retire from their full-time job.
And some will quit their day job once they solidify the proof of concept for their side gig, making that side hustle their full-time job hustle.
This passive income can give you various forms of personal freedom…
Freedom of choice, freedom to travel, and peace of mind.
The freedom to choose if you really want to stay at the job that seems to keep sapping your soul — you have the extra income coming in, so why stay?
The freedom to travel — you have the extra income coming in, so why not enjoy a nice holiday while you take your vacation days from your full-time job?
The peace of mind that comes from knowing that should something happen to your job, you and your family will still have income from something that you love doing.
Peace of mind from a side hustle can also come from growing a retirement income fund — money that can be saved now and then used once you’re ready to enjoy the retired life.
On top of passive income, job security, and even the ability to retire early, you also get to learn something new when you create your own side hustle.
How to Start a Side Hustle
There are so many side hustles that you can start, from virtual assistant jobs to tutoring gigs and translating services.
But the best side hustle, with low startup costs, is to start a blog.
Choose a topic (niche) that you’re really passionate about, your favorite hobby, or anything that you have experience in and enjoy.
When you pick a niche that you like, writing high quality content for your blog won’t feel like work. So you’re more likely to stick with it and succeed at making passive income.
Your blog can become the basis of an online business. Once you gain traffic, you can monetize it. That’s when the passive income will start to come in.
The best part about a blog that’s your online business? You can “work” on it whenever and wherever you want.
A Side Hustle Is Job Security – Wrapping Up
A side hustle is a great way to earn extra income from home (or anywhere) while building new skills in your spare time.
It can also help you diversify your income and ensure job security in case something happens to your day job.
Whether you want to earn some extra cash to pay off debt or to save and invest in your future, a side hustle can help you earn more money, while you get to do what you love.