A recent DSA survey reported that 4 in 10 Canadians (or 37%) plan on earning extra income by picking up a side hustle within the next year. Are you one of the four?
A third of Canadians either lost a job or experienced a decline in income in the last three months. More and more Canadians (82% of them are women) are choosing to start side hustles to make extra money.
And for some, it has even replaced their full-time jobs.
What are the benefits of a part-time gig?
Increased income – Often, the amount of money you make depends on the amount of time and energy you want to put in. So if you’re going to save for a vacation, maybe a few hours a week will do. But you also have the option to put the hustle in and aim to replace your current position.
Increased flexibility – You are in control of when you work and how often you work to fit it around your existing schedule.
You can have fun – When you choose a side gig in a field that interests you, it often doesn’t feel like work.
You create opportunities – You never know how far you can go until you try. And think of all the people you will meet that otherwise would not have been in your life.
You get a taste for being an entrepreneur without the risk – Most side gigs require little to no investment upfront (especially when compared to leaving a stable job or taking your life’s savings to start a business). You can see if it feels right for you, without taking a giant leap out of your comfort zone.
It provides you with a sense of security and backup – If something were to happen to your full-time job, you still have income coming in to top you up.
It provides a sense of purpose and fulfillment – Feeling a bit like a maid, cook, and chauffeur around the house? A side gig can be a creative outlet and give you a sense of identity outside the home.
It allows you to take conscious control over your future – You can create a life you love. With a career you enjoy.
Types of Side Hustles
Drive for a delivery service – These types of businesses are often looking for drivers. The hourly wage is not much, but you can make tips. And the hours are flexible; you can turn your availability on or off easily.
Dog walking – Already walking your pup in the evenings? Add a few more on your journey! Bonus: guaranteed exercise!
Babysitting – Lots of littles in your neighbourhood? Cover date night or a few hours here and there for mom and dad to run errands.
Direct sales – Join a company that sells products online. Not only do you get to share a love of your favourite products, but you’ll also meet new people and get discounts! And you have control over how many hours you invest, and when and where you work.
Tutoring or online workshops – Have a skill you can share? Offer tutoring or online workshops to pass on your knowledge.
Blog or article writing – If you enjoy writing and research, editing and proofreading, consider writing for businesses or online publications.
Whatever you choose, a side hustle can do more than bring in extra money. Have fun, meet new people and create opportunities – you never know where it might lead!