The COVID-19 outbreak is doing major damage to global economies. Some companies are still thriving, while others aren’t sure they will bounce back. People are being fired and furloughed at alarming rates. With so much uncertainty surrounding employment nowadays, should you think about starting a side hustle?
What’s a Side Hustle?
A side hustle is just the new and trendy way of saying you have other means of producing income besides your full-time job. When a person starts a side hustle, it’s usually something that they love to do in their spare time and have found a way to monetize it. For example, my full-time job is in the Information Security field, but I write for G.I. Jobs as a side hustle because I’m passionate about writing and helping my fellow Veterans succeed after leaving the military. Plus, writing allows me to display my creative side, which makes writing the perfect side hustle for me.
Consider the Times
One side hustle that has emerged during the pandemic is making masks. There is a shortage of masks nationwide, especially since local municipalities are mandating that citizens cover their faces whenever they’re in public. If you’re passionate about sewing and can take advantage of social media to market yourself, making masks is a great side hustle. It’s also a considerate way to help others during these uncertain times. Speaking of social media, with so many people staying home, starting a social media presence with funny videos and memes could be monetized, while lifting spirits of people that need a laugh.
Can Your Side Hustle Become Your Main Job?
Some people start a side hustle with no intention on it becoming anything more than that, but it’s possible that your side hustle income surpasses that of your full-time job. If this happens, you may want to consider quitting your full-time job to devote more time to the side hustle. However, this decision shouldn’t be made lightly. I would suggest saving 6 to 9 months of living expenses before quitting your full-time job, just to make sure you have a cushion for the inevitable rainy day. If your employment has been negatively impacted by the pandemic and your side hustle has helped to keep you afloat financially, this may be the best time to jump all the way into your side hustle. If you had a side hustle before the pandemic, it just might be time to take it to the next level.
Don’t Overthink It
When it comes to figuring out a side hustle, don’t overthink it. Even if you’re not a creative person, there are still so many opportunities out there, even during the pandemic. Some restaurants have ramped up their delivery options, which means they need drivers. Some parents are investing in online tutors to help their kids with distance learning, which means there’s a market for tutors. People are even figuring out how to make money as Esports or video game coaches because there has been an uptick in online gaming. If you have talent, a strong desire or are even being forced to create income, this is definitely a good time to start or mature your side hustle.