Continuing our series that is published every Monday called “Smart Money Monday,” the goal of this quick hit list is to drop some knowledge about a particular topic to kickstart your week and get you thinking about how to get closer to financial freedom. The topic of this week is the art of the side hustle.
Have a side hustle
While I’m fully a believer in the “work smarter, not harder” mantra, I believe that the art of hard work and hustling is becoming a lost art. America is increasingly in debt, buying things that we can’t afford, then looking around wondering how we can possibly get out of the situation. While your main source of income is almost always going to be your key money maker, don’t overlook the potential of a side hustle. By taking some of your extra free time, picking a side hustle and working hard at it in the spare time that you have, you can see that debt get eliminated very quickly or watch your savings account ballon faster than you thought it ever would. The beauty of the side gig is that by taking a little bit your TV watching or otherwise wasted time and adding a money making hustle, you can keep your existing budget in tact and add some extra income on the top that will go straight to paying off debts or building your savings or investment accounts. The internet and mobile apps give you endless possibilities for a side gig, so pick one and get to work.
Money Quote of the Week
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” – Thomas Edison
Hip Hop Money Quote of the Week
“I’m from where your hustle determines your salary.” – Rick Ross
Experiment of the week
Track every minute that I spend, on ANYTHING, and try to identify what time I could shift to side hustling without negatively affecting my lifestyle. I’ll be tracking my time in 15 minute increments by keeping a field notes journal in my pocket and using the Toggl timer when I’m on my computer or phone. At the end of the week, I’ll try to identify an extra few hours that could be earning me money. One key thing to note here is that I will not take away time from family, friends or my health to make money. I’m simply looking for wasted time that I can use to be more efficient and make some extra money.
Article of the Week
I personally heard that guy’s voice at least a couple thousand times in my younger years. It is awesome to see that even the voice that welcomed me to my very first email account is now the voice welcoming people to their Uber ride. If that dude has bought into the side hustle, I’ll gladly follow!
Smart Money App of the Week
A couple months ago, I started driving for Postmates and I’ve really been enjoying it. To date (in a limited sample), I’ve been making $23.47 per hour delivering food to Postmates app users and it’s been a fun change of pace from Uber and Lyft. While I’ll still continue to drive with those other services, Postmates is a cool side hustle because not only does it have a flexible schedule, but I find myself spending a lot of time driving alone listening to audiobooks and waiting in restaurants where I can take surveys for money to make a little extra cash with the double side hustle.
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