Starting a side hustle is great for extra income
Ok, if you’re looking for a side business to get out of debt I highly recommend choosing a business you can create on your own terms. This is what my wife and I did in order to earn extra income. For the longest time I was searching for part time jobs that I could pick up in order to earn extra cash. But the issue was always time constraints. In addition, I wasn’t interested in earning $10 or less for my part time income. I wanted to earn more money and have flexibility in my hours.
Luckily my wife encouraged me through throughout this process. She also brought up a really good point. Why not work on a side business that you could grow into a full time passion when we become debt free? Honey, you’re a genius! I thought this was a great idea. The whole purpose of me getting out of debt was to become financially independent. Therefore, the next logical step to take for independence is to take charge of my own income and TIME with a business I own.
Skip the part time job and opt for a side business for these reasons:
- Develop Your Business Skills
- You’ll Learn how to become self sufficient
- Creates flexibility to work when you want
- You can grow the business as large as you want
- This is the next step in financial independence
I’ve discovered that if I want to become financially independent paying off my debt is only the first step. The next step is operating my own side hustle which truly creates independence and freedom. Once I grow the side business I’ll eventually be able to stop working IF I CHOOSE. The point is I have OPTIONS. And the beautiful thing about being debt free is that your over head costs are smaller. So you’re not going to have to make as much money with your side business as you would if you had student loans, car payments, and credit card debt.
What business do you start?
This is where I had trouble. As a kid I always wanted to start a business but I never took action until I was at the age of 29. However, I did have a million ideas, but they’re all worthless until acted upon. I remember setting down and writing lists of businesses I could start, but never acted on. You can also find a ton of these lists online. The key to a successful entrepreneur is ACTION, even when you don’t know what the hell you’re doing.
I also spent tons of hours thinking about what passion to follow. Don’t worry about finding a side business that is your passion. If you become successful at it I bet you’ll become passionate about it. Just get started! Taking action is how I got started with this blog. And acting is how my wife Emily got started with her fitness business.
If you need ideas on where to get started for a side business I highly recommend the following podcasts and websites. These two sites helped me get started. Check them out and take action today!
Bottom Line: Take action today on your side business or part time job in order to pay off debt and become financially free!
I want to know if you have a side business in mind. Why haven’t you started? I would love to help you get started. Start the conversation below.