Author Topic: Worthwhile Side Hustles?  (Read 1891 times)

nexus

  • Bristles
  • ***
  • Posts: 383
  • Age: 29
  • Location: East Bay
Worthwhile Side Hustles?
« on: October 12, 2016, 02:24:49 PM »
Hey everyone,

I absolutely love the topic of side hustles and how people can take their hobbies or free time and turn it into a fast track to get out of debt, reach FI sooner, or even pay for vacations or other experiences that add value to one's life.

Personally, outside of my office job I teach tennis lessons to the tune of $40/hour and string rackets which nets roughly $10 a pop. I am also a distributor of tennis string, so I am able to make commission from sales once in a blue moon.

Depending on how available I make myself, I can easily bring in upwards of $500 in extra income per month. My best was $1,100 one month. This has actually paid for a 17 day vacation I took to Europe earlier this year and will pay for a much shorter trip to Melbourne next January without ever having to touch my work income. After Melbourne, I'll chill out on the travel and start pouring it towards FI. It also covers any of my personal tennis expenses like replacing shoes, team fees, tournaments, etc.

So, I guess my questions to the general audience are as follows:
1) What is your side hustle and how much does it bring in?
2) If you are considering a side hustle, what rate of pay would make it worthwhile?
          >Are you happy with minimum wage?
3) How much extra are you trying to make per week or per month? Are you aiming for an extra $100, $200, $50 per week?
4) How many hours per week would you be willing to put towards your side hustle/second job?
5) How long could you see yourself doing it for before experiencing burnout?
6) What have you accomplished through your side hustle thus far?

Can't wait to hear what you have to say! I'm wondering how many Uber or Lyft drivers will chime in.

ketchup

  • Magnum Stache
  • ******
  • Posts: 4018
  • Age: 28
Re: Worthwhile Side Hustles?
« Reply #1 on: October 12, 2016, 03:50:11 PM »
My side-hustle is helping my girlfriend with her side-hustle that became her front-hustle about two years ago.

I do a lot of the support side of things for her business (book-keeping, IT support/planning, travel planning, etc.).

1) What is your side hustle and how much does it bring in?
She's a photographer, started as a cheapie weekend craigslist everything photographer, and has since specialized in showdog portraits (of all things).  When she quit her dayjob she was pulling in about $500-1000/month, now she's on track to make about $40k this year and probably more next year.
3) How much extra are you trying to make per week or per month? Are you aiming for an extra $100, $200, $50 per week?
When she was doing it on the side, she was happy with $100/week.
4) How many hours per week would you be willing to put towards your side hustle/second job?
She was working maybe 3-4 hours a week when it was still on the side.  Now, helping her with stuff, I probably do about 5-10.
5) How long could you see yourself doing it for before experiencing burnout?
Probably indefinitely.  She's doing what she loves (and would do it if she had to work for free), and my side of things isn't too difficult but I'm good at it and it helps her out a ton.
6) What have you accomplished through your side hustle thus far?
Her work has been on the covers of numerous snobby showdog magazines, she's shot many of the top dogs and handlers across the country, and she's sold work to a major dog food manufacturer (for advertising).