Multiple Streams Of Income: The Route To Financial Stability (2)

Lecturers, doctors, lawyers, security agents, business owners and students from different part of the world are all committed to earning extra income from their side hustle.

Image Source

The first part of this thesis has already channelled our thought to the general overview of side hustle and how it relates to multiple streams of income. Now, let me show you the top side hustles that you can explore.

TOP SIDE HUSTLES TO ADOPT

So, you have decided to take up a side hustle but, you don't know what to select. Truth is, there are a lot of side hustles to pick from and they include;

Tutoring: Tutoring comes with a good reward for the time spent on it. You can do this in your leisure time and still earn double figures per hour. This in return, will amount to a huge sum by the end of a month.

Freelance Writing: This side hustle is very lucrative to the extent that many people opt to do it full time. Yes, you can get paid to write so, what are you waiting for?

It could be anything from writing blog contents, business plans, research reports or any other form of writing that suits your passion.

Graphic Designing: Graphic designers make use of visuals to convey the message of a project. Anyone with the right skill, training and experience would have a lot to do in this area.

The cost of running this side hustle is relatively low but the income it generates is high. There are a lot of opportunities for people in this field.

Selling Items Online: Anyone that want to venture into this can do it without much hassle. There are a lot of virtual platforms where you can meet potential buyers for whatever you want to sell.

Setting a good price and doing the right publicity for your product is often a challenge in this but it's very rewarding

Other side hustles that can guarantee multiple streams of income: Anything from creating online courses, Resume help, facial make-up, manicure and pedicure, can be done as a side hustle. The list goes on and on as far as it's legal and has a monetary reward.

TIPS FOR ANYONE TAKING UP A SIDE HUSTLE

Whether you enjoy your 9-5 routine job or not, nobody frowns at an opportunity to get extra income.

Image Source

With that in mind, these tips would be very helpful to guide you through the process of adopting and running a side hustle.

Firstly, align your side hustle to things that you are passionate about. This will help you to remain resilient at the seed stage.

Trust me, anyone that enjoys writing and chose to venture into blogging as a side hustle will most likely enjoy the process from startup to maturity.

Secondly, don't quit your job because of a side hustle. As tempting as this may be, never be tempted to quit your job because of a side hustle - not when you are just at the beginning stage.

Remember, this is all about having multiple streams of income so, no matter how juicy the side hustle may be, quitting one for another is the same as going back to square one.

Thirdly, allot time to your side hustle: You already know that anything worth doing is worth doing well. Imagine fixing a tutorial for one of your clients at a time that is supposed to be for your 9-5 job. Something like that will only get you a sack letter.

To avoid this, make sure that you have a scheduled time for your side hustle. It makes you more efficient.

Lastly, don't finance your side hustle with a loan. I know how tempting this can be. You are a freelance writer and you feel that having a new laptop, a standby generator and an unlimited internet subscription will make you the best in the industry.

Well, it may be the case but where is the money coming from? If you are planning to become a debtor to finance your side hustle then, you may be shooting yourself on the leg.

Having a side hustle is easier than you imagined. It's as simple as saying that you are a graphic designer, a content creator, a digital marketer or any other one that suits you. Making a side hustle pay off as pointed out by JEFF HADEN is the hard part.

Reference
Article

Thanks For Not Missing Any Full-stop Or Comma.

Crossposted from my blogpage

Posted Using LeoFinance ^Beta