By 2024, side hustlers will be putting a lot of extra cash in their wallets. June 2024 Bank Rate Survey 2,332 U.S. adults. Some earn as much as $1,000 to $2,000 a month.
If you’re one of the many looking to add another source of income in 2025, there are a few things you can do to set yourself up for success, says Angelique Rewers, CEO of Small Business Consultants. bold house.
This is her recommendation.
Organizing tools for your busy schedule
First, “make sure you It’s organized,” Rewers said.
“You should have a dedicated bank account,” she said. “You should have a dedicated credit card. You should make sure your tax accountant knows what you’re doing.” You can set up Excel spreadsheets to keep your client records – do whatever it takes to keep your outside money-making activities organized.
If your work is successful but you haven’t created dedicated tools for it, “you lose control of your side hustle,” she says.
Make sure “You are tracking your time”
Second, understand the commitment you are making. “Make sure you’re not only tracking your expenses, but also your time,” Revers says.
It’s easy for people to underestimate the time they spend hustling and working overtime without getting paid for it. maybe you For example, tell a client that a project will take 5 hours, and then charge them for those 5 hours, even though it actually takes 10 hours.
But “that’s how a side hustle goes from being something really worth doing to something that’s full of resentment and not worth your time,” Revers says. So, be realistic about how long it will take and charge accordingly.
“Pick up the phone and text people”
Finally, make sure to let the people in your life know about your new job.
For those involved in your personal life, such as your family and friends, “pick up the phone, text people, send them voice memos and let them know what you’re doing,” Rewers said. They can help you find clients or even hire you themselves.
In addition, you can create a post or profile at Apps and platforms like “Nextdoor, Facebook groups, Upwork, Fiverr, Reddit” can tap into your external network and people you don’t know, she said. She adds, “Unless it’s going to compete with your full-time job, you can certainly talk about it on LinkedIn, too.”
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