5 reasons to quit your side hustle
Ah, the side hustle. A gig. A non traditional way of earning some cash. Sometimes people get one to earn extra cash to pay down debts faster, or to save for a big purchase. Some people even string together a series of side hustles just to get by. Side hustles can be wonderful tools to have in your financial wheelhouse.
However, not all side hustles are created equal. Sometimes you have to know when to quit.
When it Interferes with Your Main Bread and Butter
Side hustles by definition are meant to be done on the side. Sure, sometimes you can turn your side hustle into your main job, but a majority of side hustles are about (temporary) extra cash. If your side hustle starts to get in the way of you doing your main job, and doesn't pay more than your day time paycheck then it's time to rethink how much time you're spending on the hustle. If your intention is to turn the side hustle into full time work, then this might not be a concern. But if you need the paycheck and benefits your 9-5 gives you then it's time to scale back or move on to something new.
You're Burning the Candle at Both Ends
There are only so many hours in a day. Hard works gets you far, there's no doubt about that, but if all you are doing is working then you are going to burn out. It's unsustainable to work the equivalent of two full time jobs. It might be unsustainable to work the equivalent of 1.5 jobs! If your side hustle requires 60-80+ hour weeks for an extended period of time something will give. And if it's not your health it will be your sanity.
Don't continue with a side hustle if it is harming the quality of your life. Making extra money is good, and sometimes it is necessary, but if you don't have time for your family, hobbies or yourself, it's time to look for a new side hustle.
It's Served its Purpose
Many people start hustling for a specific reason. They want to pay off their student loans, they want to pay off a certain credit card, they're saving for a wedding or some other large purchase. If you doing your side hustle solely for the extra cash, not because you actually like it and you've met your goal then quit! If you still want to do side work try different hustles that might be more enjoyable.
It's Keeping You From Something Better
I'll say it again: Not all side hustles are created equal. I love to mystery shop but it can take up a lot of time. When I started, I did as many shops as I could to make extra money. But since I began mystery shopping I started this blog, and I have a really fun idea for a new blog. But as long as my time is filled up by mystery shopping, I won't get to start on the new blog. And I think the potential for earning is a lot higher than mystery shopping. The same with Swagbucks. It's great when you don't have anything else going on. But if you have a ton of freelance work that you can bill hundreds (give or take) for, then Swagbucks is chump change. Use your time wisely. You know what you and your time are worth, don't settle for less.
It's No Longer Your Passion
Life is too short to do things you don't have to. It might be that you started a blog because you were really into the topic and liked writing, but now you have new interests that don't quite match your blog. Or that dog walking was really fun and a good way to get your dog pets in but now you have your own dog and have lost interest in other people's pets. There are a million reasons why you might have enjoyed an activity before but now it doesn't hold as much joy. Quit it. If you're dependent on that income stream, then find a new hustle to take it's place before you quit completely. If you aren't dependent on that income then quit and do something you like!
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