Depending on your situation, a side gig might not be worth it for you. Part-time jobs and side hustles apply to different people because of the time commitment they take to complete.
Side gigs do not guarantee income, you have to find ways to earn money. If you’re generally not creative or don’t have any business savvy then it could take you longer to become profitable from a side gig.
When is starting a side hustle worth it?
Starting a side hustle is worth it when you have enough free time and money to do it. If you’re desperate to earn money then it might not be best to start a side hustle. Part-time jobs guarantee more income security than side hustles do.
But by having enough free time and startup money, you can start a side hustle with room for mistakes. Mistakes are bound to happen with any side hustle you start. By having enough time to learn from those mistakes and correct them, you’re guaranteeing your side hustle a better chance to succeed.
Having a startup fund of money readily available is also important for starting a new side gig. It gives you a fund to pull from for your side gig. I suggest being prepared to lose this startup fund if you’re starting a new side hustle. That way you can give it your all and if it doesn’t work out, at least you understood the risks of starting a new side gig.
In addition, if you’re able to get paid daily from a side hustle then it will almost always be worth your time.
When is a side gig not worth it?
Side gigs aren’t worth it if you need money fast or have no prior experience. There’s a large chance your first few months trying a side hustle will not be profitable. That’s why it’s not the best idea to try if you’re down on your luck and looking for extra money.
The one exception to this rule is reselling. Reselling is a good side gig that can result in quick money without having much experience. We created a guide of 26 used items to resell for instant cash. You can find a lot of items on that list sitting somewhere around your home.