10 Reasons Why Every 20-Something Should Have A Side Hustle
London life can be expensive, VERY expensive. Anyone unfortunate enough to not have millionaires for parents will have probably been forced to scrimp come the end of the month at one point or another.
Whether that means cutting back on the amount of Tesco’s Finest making it into your basket on your weekly shop, or switching from ordering bottles of champagne in Mayfair to buying bottles of K and pre-drinking. Saving isn’t fun.
Being fresh out of uni often means that you’ll already be saddled with debt. And whilst it may be hard for most of us to go directly into our dream job, the moment you hang up our graduation gowns it goes without saying that supplementing any income you have coming in would always be a bonus. Whether that’s flogging all your stuff on EBay or starting your own part time career like teeth whitening or becoming an Avon lady.
So if you’re anything like me and wish to maintain your champagne lifestyle beyond the week following payday then here’s what I like to call an essential side hustle.
Still not convinced? You should probably remind yourself as to why you’re in the red come the end of the month. Here are 10 reasons just to refresh your memory.
1) The rent is too damn high
If you don’t think this, you’re either a king of thrifty living or you happen to have a massive wedge of cash. Either way, tell me your secrets.
2) Saving is impossible
“Look after the pennies and the pounds will follow” the saying goes. In reality, it’s more a case of, it doesn’t matter how closely you watch your money. It’s still going to evaporate before your eyes. A secondary income at least provides a little more to put away under the floor boards.
3) You’ve got something to fall back on if the worst happens
Unless it’s your business, you’re working for someone else. The biggest companies are notorious for sacking off huge numbers of employees at once. The more streams of income you have trickling your way, the better prepared you’ll be should your primary source go belly up.
4) You get to pay off your debts quicker
Don’t kid yourself, you’ve got some kind of debts already. I’m saddled with the joy that student loans bring, it sings to the tune of just under £25,000. A secondary income allows you to make a dent in those loans that could prove to be a major roadblock further down the road.
5) It’s never too early to think about retirement
Think you’ll always be 19? Not so, I’m afraid. You’re not Peter Pan – we all get old. How much you put away is totally up to you; some say 10% from your wages is enough to retire successfully, others say you just can’t save that much. It’s worth thinking about it either way.
6) Checking your account on Sunday morning won’t hurt as much
Are you a regular socialite? In that case you probably hate checking those numbers on your screen as much as the rest of us. If you’ve got two or three streams of revenue, that shock won’t be anywhere near as bad. Plus if you enroll in a teeth whitening course or learn how to spray tan you’ll look extra fabulous on your nights out!
7) You learn to develop your entrepreneurial side
You might not think that you have an entrepreneurial side but you’d be amazed how quickly you can pick it up. Entrepreneurialism teaches you to manage your finances and be creative about where your money’s coming from. There’s loads of ways to do this; you could start your own franchise, for example? Check out this Teeth Whitening course here
8) You can turn your free time into something practical
Sitting around watching TV is great, but when you can’t afford the electricity bill anymore then you’re going to struggle aren’t you? Get up off your bum and start making money!
9) You could discover a talent you didn’t think you had
Necessity is the mother of invention, after all. In your struggle to make some extra cash you may find a hidden skill. And you could wind up being pleasantly surprised by what your financial predicaments could bring you.
10) You’ll have more money to do stuff with
Buying useless shit you don’t really need, being able to pay for a decent holiday, affording your food bill for the week; whatever your monetary goal, a second income will let you get there for sure.
Convinced now? We bet you’re Googling second incomes already, aren’t you?