Last Summer I was approached by a publisher to write a book. I immediately knew what I was going to write about: side hustles.
Side hustles are such a big part of my story and have had a big impact on my life.
They’ve allowed me to tap into my entrepreneurial side without leaving my 9-5 job.
They’ve show me that my income – like my investments – can be diversified. If I want to make an extra $1k or more a month I don’t have to beg my employer for a raise.
Most of all side hustles have given me a lifeline. My wife and I graduated with over $100,000 in student loans. That comes out to approximately $1,000 a month.
Side hustles have allowed me to offset that monthly payment, and then some. They’ve made it so that we don’t have to be held back from living the life we want because of student loans.
All of this has led to my book, Hustle Away Debt. Hustle Away Debt discusses how side hustles can help you pay down debt faster, strategies for how to best integrate side hustles into your life, finding the right side hustle for you, and ideas for side hustles to start.
The book was written with millennials in mind, but debt issues aren’t confined to the millennial generation. Anyone with debt can benefit from side hustles.
An Income Problem – Not an Expense Problem
Many people have asked me why I focus so much on increasing income versus cutting expenses. This again goes back to student loans.
There are $1.3 trillion in student loans outstanding in the United States today. The average class of 2015 graduate with student loan debt will have to pay back a little more than $35,000.
Simply cutting expenses isn’t going to do it for those who have student loans. It’s not an expense problem: it’s an income problem.
One thing I talk about early in the book is what to do before starting a side hustle. Tracking your income and expenses and saving where possible is one of those things.
Again, cutting expenses only goes so far so another thing I recommend is looking into making more money at your 9-5 job. This can be done through doing salary research, looking into promotions and opportunities to move up, or simply asking for a raise.
But let’s be real: this isn’t an option for everyone. Many people have maxed out what they can make at their 9-5 job.
That’s where side hustles come into play.
Take Action Today
Whether you are looking to make some side income to pay off debt or to potentially move into a new job opportunity or career, side hustles can open up opportunities that you never thought were possible.
Seriously, how would you feel if you had an extra $1,000 of income each month? On top of your 9-5?
What about $2,000 a month? More?
It’s all possible through side hustles. If you’re motivated enough – and typically debt will provide you that motivation – you absolutely can make extra money outside of your 9-5 job.
If you don’t currently have a side hustle but want to start, read Hustle Away Debt.
And if you have no desire to make money outside of your 9-5 job, please consider telling someone else about the book.
People tend to hide the stress, frustration, and hopelessness they experience because of debt. Few see a way out. Side hustles may be their lifeline.
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Congratulations on publishing your book! I think side hustles are a great way to make extra income, use your skills, and even change careers. An extra $2,000 per month would be life-changing for me. I am working on a few different streams of side income and plan for them replace the earnings from my full-time job.
Thanks Aliyyah! I really appreciate it! My side income goal of $1k/month – and reaching that goal – has had a HUGE impact on my life. Like you I would love to have my side hustle income streams match the income for my full-time job. I know a few bloggers who have created “second” full-time income streams that have allowed them to really put their finances on overdrive and/or allow them or their spouse to stay home full-time. So great.
Congrats again on the launch of the book DC! I’d agree that so much of the time it comes down to an income issue. Finding that motivation is key though and you have to want it bad enough to let that move you to action. If you can pair that with looking outside the box for opportunity it can really open up things for you.
Thanks John! Motivation is such a big factor. I think student loan can *sometimes* be a blessing in disguise. I have become so motivated because of it and I’m not sure I would have been this motivated had it not been for my loans.
Congratulations on your book! This is so exciting! I didn’t earn much on the side when I was paying off debt, but I got a promotion and a payrise of 19% at work, all of which went towards debt repayment. Without putting in any extra hours, I was earning more and it was great! Side hustling is definitely a great way to earn more and pay off debt faster, too!
Thank you Eva! Getting a promotion and raise can definitely help, and I do recommend people look into that prior to side hustling. But if you can make more at your 9-5 AND earn extra money through side hustling…that’s a combo for the win!
Absolutely!
How exciting! I think most of us in this community already feel strongly about the need to side-hustle in order to kill your debt, but it’s awesome that your book will introduce this concept to other groups of people who are struggling with regaining control of their finances. I’m looking forward to reading it :)
Thanks Harmony! Yes a lot of bloggers have mentioned side hustles, but there are so many who haven’t had this concept introduced to them, or haven’t understood what really goes into making a side hustle work in their life.
Congrats again on the release of your new book. I agree with you 100% that people have an income. Since I’ve started side hustling, my debt has gotten lower and I’ve been able to finally save some money. I know your book will do well!
Thanks Jason! Side income has such a huge impact on my life and I hope that others can see the benefit and are able to use it to their advantage as well.
I picked up your book shortly after I heard about it on Martinis and Your Money. I actually listened to it again, while on the tractor, this morning. I’ve still gotta try a Big Ginger and wrap my head around Poker as a side hustle.
Any who . . . . The book is awesome! It’s easy to read and has great insight.
I really like the “Pre-Hustle” checklist, although it didn’t fit me well as an educator: I was limited in advancements and pay raises, I didn’t have any student debt, my salary was paying our bills and we really didn’t have much to cut.
Back then there were no cell-phones, no internet, no cable, no . . . well, not much to cut.
Anyway, about it Hustle is the WAY to go. If you’re not already working two shifts, you have time in your life to Side Hustle.
You’ve done a great job in spelling it out. Now, it’s up to folks to quit griping, get up off of their kiesters and get out and Side Hustle.