Why Everyone Should Have a Side Hustle (By: Jasmine York)

 True job security is becoming a myth. In recent years, a compilation of studies from the U.S Department of Labor: Bureau of Labor Statistics reveal that about 20,000 people lose their job every day. Many of those losing their jobs have no safety net to fall back on in the event that they lose their primary source of income.

However, although the unemployment rate is a huge problem, an even bigger issue is when people solely depend on one source of income and live within their means rather than living well below it.

A recent study revealed that 96% of the wealthy use the follow leading financial strategy when dealing with their finances. That strategy is to create multiple streams of income; and a perfect way anyone can create that for themselves is to have a side hustle.

Having a side hustle will help anyone lighten the blow of a possible job loss in the future or other emergency. The beauty of these extra sources of income is that people don’t have to be particularly talented. They just have to be creative. Examples of side hustles can be anything from pet sitting, landscaping, housekeeping, or even taking on a weekend job. People with specialty skills can profit from their talents if they can fix computers, style hair, or freelance for example.

We all know the key to building wealth is to make more money and spend less, so why not take full charge of your life and maximize your potential earnings through side hustles. This can truly create a sense of financial security and peace of mind that will be sustained during those unexpected life events.