Author Topic: Could someone explain 'Side Gig, Side Hustle' and how do you get one.  (Read 5141 times)

Kat57

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I am clueless about...what is the side gig, side hustle.  How s this different from second job?

terran

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Re: Could someone explain 'Side Gig, Side Hustle' and how do you get one.
« Reply #1 on: January 27, 2016, 06:28:54 PM »
It's often some kind of self-employment situation or buying/selling things on craigslist, or even churning credit cards. A second job would work fine too, but the way it's used around here side hustle seems to usually be something a little more like a little business.

younggunner

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Re: Could someone explain 'Side Gig, Side Hustle' and how do you get one.
« Reply #2 on: January 28, 2016, 09:18:16 AM »
To me, a 'side gig / side hustle' is something that is NOT for another employer.  Perhaps something I'm necessarily getting taxed on.  Maybe even something I can do at my own convenience.  There are hundreds of oppurtunities out there to make a cash dollar on the side to supplement your primary income without working for a 2nd employer. 

Mowing lawns, selling used items, snow shoveling, cleaning, etc.. There's always a task or chore that someone is unwilling to do.. Those are side hustles.


Some ideas to get one that I find helpful:

Network to all your friends and family.  Help them out, ask them if they know anyone needing work.
Local internet ads such as CL work great as you can post your skill or look under wanted ads.
Post a flyer or ad in local newspaper


First, identify your skill .. Then figure out the best way to market it for side $$
« Last Edit: January 28, 2016, 11:17:56 AM by younggunner »

MandalayVA

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Re: Could someone explain 'Side Gig, Side Hustle' and how do you get one.
« Reply #3 on: January 28, 2016, 09:28:04 AM »
Side hustles can also be intellectual as well.  A lot of people tutor, code, or write on the side for some extra cash.

big_slacker

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Re: Could someone explain 'Side Gig, Side Hustle' and how do you get one.
« Reply #4 on: January 28, 2016, 10:27:37 AM »
For me a side gig is occasional work outside of your day job: Example- I'm a network engineer and have a buddy who has a network consulting biz. A few times a year he has more work than he has time for or something I can do faster/better than him due to different specialties. He calls me, we have a pre-agreed hourly rate so I do the work and get paid.

For me a side hustle is a creative way of earning: Credit card churning, collecting discard stuff from your job (legally) and reselling it, flipping stuff from garage sales and so on.

FWIW in our household I do all the classic work for pay type stuff and my wife does a lot of hustling and working systems.

Papa bear

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Re: Could someone explain 'Side Gig, Side Hustle' and how do you get one.
« Reply #5 on: January 28, 2016, 10:55:45 AM »

To me, a 'side gig / side hustle' is something that is NOT for another employer.  Perhaps something I'm not necessarily getting taxed on.  Maybe even something I can do at my own convenience.  There are hundreds of oppurtunities out there to make a cash dollar on the side to supplement your primary income without working for a 2nd employer. 

Mowing lawns, selling used items, snow shoveling, cleaning, etc.. There's always a task or chore that someone is unwilling to do.. Those are side hustles.


Some ideas to get one that I find helpful:

Network to all your friends and family.  Help them out, ask them if they know anyone needing work.
Local internet ads such as CL work great as you can post your skill or look under wanted ads.
Post a flyer or ad in local newspaper


First, identify your skill .. Then figure out the best way to market it for side $$

In the U.S., you get taxed on all income.  Whether you choose to pay taxes or not on it is your choice, and would typically be called tax evasion of you choose not to. 

If what you meant was that you didn't have your tax withheld on it, then yes I agree with you that a side hustle is not w2 income.


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Rufus.T.Firefly

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Re: Could someone explain 'Side Gig, Side Hustle' and how do you get one.
« Reply #6 on: January 28, 2016, 01:56:54 PM »

To me, a 'side gig / side hustle' is something that is NOT for another employer.  Perhaps something I'm not necessarily getting taxed on.  Maybe even something I can do at my own convenience.  There are hundreds of oppurtunities out there to make a cash dollar on the side to supplement your primary income without working for a 2nd employer. 

Mowing lawns, selling used items, snow shoveling, cleaning, etc.. There's always a task or chore that someone is unwilling to do.. Those are side hustles.


Some ideas to get one that I find helpful:

Network to all your friends and family.  Help them out, ask them if they know anyone needing work.
Local internet ads such as CL work great as you can post your skill or look under wanted ads.
Post a flyer or ad in local newspaper


First, identify your skill .. Then figure out the best way to market it for side $$

In the U.S., you get taxed on all income.  Whether you choose to pay taxes or not on it is your choice, and would typically be called tax evasion of you choose not to. 

If what you meant was that you didn't have your tax withheld on it, then yes I agree with you that a side hustle is not w2 income.



Sent from my iPhone using Tapatalk

Heads up: if you are self-employed, after you report your first year's income, you may have to pay estimated taxes on quarterly filings (Form 1040-ES).  In this case, you're actually effectively paying BOTH SIDES (employee/employer) of withholding.

For about a year, I coached soccer for kids ages 3-7 for daycares. I was hired as an independent contractor and paid $20/hour. Typically I worked around 5-8 hours/week, although there was more hours available if I wanted them.

Craigslist has an entire section of "Gigs" on the bottom right side. That should give you some good ideas.

Villanelle

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Re: Could someone explain 'Side Gig, Side Hustle' and how do you get one.
« Reply #7 on: January 28, 2016, 02:22:33 PM »
To me, it is a small job in addition to a primary job, and usually one that has a lot of leeway.  So working 10 hours at a shoe store, when they set the hours, would be less of a side hustle than tutoring, even if the tutoring was for an online company.  (So I don't think a side hustle has to be a self-employment thing.)

But if someone called those 10 hours at the shoe store a side hustle, I wouldn't think it was inaccurate.  That's just not how I'd frame it.

As for how you get one, really all you need to do is figure out a way to make money.  I believe at one time MMM was making Crossfit platforms for jumping, and sold a few.  He had a skill and found a market for it.  If you have a crafting hobby, find a way to monetize it (craft fairs, etsy, etc.). (With crafts, you really need to run the numbers to make sure you are actually making money as many crafters don't and what they do for income ends up actually costing them money.).  Maybe you have a garden and can sell some of your produce.  Perhaps you are good with a certain subject and can do tutoring either by advertising in CL and around local schools or with an online company.  Maybe you can find a few people who need an occasional (or regular) baby sitter.  Or maybe your work skill is something you can sell on the side as a consultant in some way.   Or perhaps several of these. 

TomTX

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Re: Could someone explain 'Side Gig, Side Hustle' and how do you get one.
« Reply #8 on: January 31, 2016, 09:13:00 AM »
In the U.S., you get taxed on all income.  Whether you choose to pay taxes or not on it is your choice, and would typically be called tax evasion of you choose not to. 


However, Craigslisting junk from around your house for less than you paid isn't income. It might in fact be a capital loss.* Selling it for a profit is probably a capital gain, and if you had it over 1 year it's a long term capital gain and possibly taxed at 0%

https://www.irs.gov/taxtopics/tc409.html

*but not deductible unless you held it for investment, not personal use.
« Last Edit: January 31, 2016, 09:15:14 AM by TomTX »

2Birds1Stone

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Re: Could someone explain 'Side Gig, Side Hustle' and how do you get one.
« Reply #9 on: January 31, 2016, 09:40:12 AM »
I am clueless about...what is the side gig, side hustle.  How s this different from second job?

I work as a cog in corporate America. My side hustle is coaching, it's different from a second job in that I take on clients as I want to, and only work with a few people at a time.

TheBeardedIrishman

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Re: Could someone explain 'Side Gig, Side Hustle' and how do you get one.
« Reply #10 on: February 17, 2016, 08:51:10 PM »
Flipping cars or trucks . .bought a truck off an older guy who had a truck laying around for 400 bucks in october put 100 into it, drove it to work everyday until last week and sold it for 1000 after driving it for 5 or 6 months

MVal

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Re: Could someone explain 'Side Gig, Side Hustle' and how do you get one.
« Reply #11 on: February 18, 2016, 08:48:55 AM »
I am clueless about...what is the side gig, side hustle.  How s this different from second job?

I work as a cog in corporate America. My side hustle is coaching, it's different from a second job in that I take on clients as I want to, and only work with a few people at a time.

What kind of coaching do you do? Life coaching?

FunkyChopstick

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Re: Could someone explain 'Side Gig, Side Hustle' and how do you get one.
« Reply #12 on: February 18, 2016, 05:15:55 PM »
My side hustles are things that I am already skilled at or that I like and get some cash on the side for. I work in veterinary medicine and there is always someone that has an angry cat that is in kidney failure. Giving the cats fluids under the skin with a needle at home is how people treat their pet in addition to diet +/- meds. Most cats dislike getting a needle in their back or some people just don't want their pet associating them with discomfort. Some people are just freaked out by needles.

I have been doing it for years and it will take me all of a few minutes. I will take $20 or $40 for a few minutes of my time and a short drive. I also will watch pets that have serious medical concerns like diabetes or pets that have neurological problems. I love hanging out with animals anyway. If you want to give me a $100 a day to sleep over your house when you are on vacation and I would be doing nothing by sleeping in my own house anyway- sold!

I also consider per diem shifts at a hospital to be a side hustle. I am considering pulling a 18 hours ( 1.5 12 hour shifts) at an overnight hospital. Work 10-10p then sleep in the apartment above the hospital and then work 6-12 noon the next day. Sure it is 45 minutes away but that would be a nice little weekend commitment. And who cares if I have to drop it?

Other side work would be selling clothes online and (hopefully) sell some of my extra seedlings to co-workers. I work in a huge vet network and can put a sign in the lunch room. Maybe 3 plants for $10 wouldn't be so bad after all :)