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@novadestroyerthesundestroy890

2 жыл бұрын

Ngl, two minutes in, I realized the main problem of "Side Hassles"

@jamais412

2 жыл бұрын

What video editing courses did you take?

@donjulio4671

2 жыл бұрын

Do you didn’t start KZread as a side hustle?

@novadestroyerthesundestroy890

2 жыл бұрын

@@donjulio4671 yes, he said that in the video

@hitreset0291

2 жыл бұрын

Soooo ~ Storyblocks is YOUR side hustle huh?!

Door to door sales was one of the most mentally tasking jobs I've ever done. Constant rejection takes quite the toll on your psyche if you're not fully prepared

@fhou6732

2 жыл бұрын

Any form of customer service or dealing directly to a customer is mentally draining

@famousflores1895

2 жыл бұрын

*mentally taxing

@nikolagrudev3128

2 жыл бұрын

Tried door to door for 2 weeks as an internship abroad after preparing for 6 months. Left the 2nd week completely emotionally destroyed, 85% of the people that went with me had a similar experience. It is brutal.

@wardogmobius

2 жыл бұрын

@@nikolagrudev3128 Its brutal indeed. I have been in hospitality business for 8 years and its taken a toll on my psyche. But i will endure it more than others since I'm the best of the best.

@MsAbstractartist

2 жыл бұрын

Applying for jobs post grad is how i learned this lol. Rejection daily sucks

"As always, my main goal is ruining a good thing" thats why we love your content

@KosstAmojan

2 жыл бұрын

Jim Cramer calls that UPOD - Under Promise Over Deliver. He says his goal is to ruin a good thing but, if you analyze his script and presentation, it's actually to save you from heartache and frustration that comes from not thinking clearly enough.

@bivensrk

2 жыл бұрын

@@KosstAmojan didn’t really need it explained BUT that’s just me.. some may actually have missed the satire of that part of the video.

@thomas7365

2 жыл бұрын

My main goal is to blow up, AND THEN ACT LIKE I DONT KNOW NOBODY AHAHAHAHA

@esimobichris2168

2 жыл бұрын

Yes yes yes 🤣😂😅

@FoxInTheBasement

2 жыл бұрын

@@thomas7365 the greatest scholar of our time

For me the most disingenuous part is how little time side hustles are supposed to take. If you want money out of them, you NEED to put in a full time effort from them. The only truly passive one I've found is dividend investing, and that requires a fair amount of capital to start.

@pdorism

2 жыл бұрын

even investing takes a lot of time if you really want to do your due diligence.

@DadsCigaretteRun

2 жыл бұрын

As with most things in the market time is more important than how much you put in initially. Don’t get put off by how much it takes to start seeing a check every month

@MrShitthead

2 жыл бұрын

Dividend investing can actually pay off for even lower class investors. I think the real problem is that if you're starting on the lower end and not actively increasing your income to at least upper middle class levels, then you're looking at about 30 years of very disciplined investing before you actually get to reap the rewards of your hard work. It's way safer than any "get rich quick" scheme, but 99% of people in their 20's and 30's will think you're insane for proposing that.

@BabyJesus66

2 жыл бұрын

@@MrShitthead how much do you need to start with and how do you propose to do it?

@veerkar

2 жыл бұрын

For my side hustle I put in maybe 2 hrs a year and it generates 600-800k for me. It works. Initially I worked quite hard for a period of 9 years. It has paid me 10 million in taxable income over 12 years.

Let's call a "side hustle" for what it really is. Making up for the lack of increased pay for the past 50 years in the US.

@zindhuzanjo8813

2 жыл бұрын

It's not just in us right?

@gustavosnap

2 жыл бұрын

@@zindhuzanjo8813 no, just in Earth

@slcwest75

2 жыл бұрын

Yes, no increased pay, because it's an employer that has an owner or board of directors that chooses to pay themselves better than the people who actually do the work. Good place to start for income, but you will never be paid for your full value, the owner holds on to that

@channul4887

2 жыл бұрын

"Making up for the lack of increased pay for the past 50 years" Please be happy, we virtue signal at you so that you can be happy - ah and here's a 0% shackle... I mean loan that will make you feel like you can afford overpriced ish, when you're in fact just making the virtue signallers richer by the day.

@Chris-xt8io

2 жыл бұрын

You make it seem there’s no upward mobility in the US

From a sociological perspective, the fact that side hustles is in the public consciousness at all says that the average person is uncertain and worried about income. That alone should be a bad sign. Most normal people don't work extra jobs out of the desire for more money, but the necessity for more money. Something is going wrong in our economy.

@wintermint7

2 жыл бұрын

Hint: it rhymes with Dapitalism

@op8995

2 жыл бұрын

@@wintermint7 you're so brainwashed.....any *ism is not the problem..it's globalist figuring out ways to exploit the *isms cause every *ism looks good on paper and in theory. World Economic Forum, bankers, old money .....and power. As you get older, research and become wiser, it will make more sense kid.

@alexanderb7721

2 жыл бұрын

When the contraditictions be sharpening just like that one German economist said would happen 170 years ago

@wolfpackgaming2492

2 жыл бұрын

@@alexanderb7721 can you elaborate on that please

@wolfpackgaming2492

2 жыл бұрын

@@op8995 how can the problem be fixed

Hearing a youtuber say it takes hard work AND luck is so refreshing to hear. So many people brush off the fact that luck has a major impact on almost any gig or profession. Sure you need to work hard but there are also thousands of others working just as hard if not harder and just were not lucky enough to find a break yet

@lunarsoles

2 жыл бұрын

Why do you need luck? You can beat luck and take calculated risks if you are financially literate/smart with money.

@pedroanntunes

Жыл бұрын

@@lunarsoles you don’t need luck if you’re born into wealth. that’s about the only situation

@fvr12345

Жыл бұрын

There’s luck, but there’s also opportunity. When an opportunity comes you better pull the trigger or it’ll pass you by. I think that being alert and always in search of an opportunity is important

@lolivingston6827

Жыл бұрын

​@@fvr12345 Luck = Karmic energy It always works out for those who deserve it and are in God's favor

@DennisMoore664

Жыл бұрын

When someone has already said it better than I could there isn't much point in my trying-- "This is ten percent luck Twenty percent skill Fifteen percent concentrated power of will Five percent pleasure Fifty percent pain And a hundred percent reason to remember the name" _Remember the Name_ Matthew Ryan Maginn / Mike Shinoda / Takbir Khalid Bashir ...and even then sometimes it just never happens.

Nah bruh you just gotta grind 25 hours a day and have no social life, no family life, no romantic life, and basically no well being whatsoever. Trust me Gary vee said it will be worth when your rich and still hate your life.

@RYU47376

2 жыл бұрын

Gary vee never lies! I mean why would he lie right?

@ddennis2430

2 жыл бұрын

Yeah outside of being able to afford to travel to New places, money doesn't bring any happiness in my life

@gnarl12

2 жыл бұрын

Lol yep 😂

@Sloimer

2 жыл бұрын

Lol yep

@Cookiekeks

2 жыл бұрын

@@ddennis2430 Financial security doesn't bring you happiness?

A lot of youtube influencing is in itself a side-hustle for some people. You see a lot of encouragement for this not just because there can be benefits, but there's also the desire to validate yourself in your own decisions, so you try to bring people on board in advocating your lifestyle to other people. There's a lot of positive feedback in that.

@shimmy_fpv

2 жыл бұрын

Really good point I hadn't thought of before. I wonder how much of the side hustle phenomenon is caused by people looking for validation. They determine that validation is too hard to come by in their regular line of work and look elsewhere for it.

@josephbrennan370

2 жыл бұрын

an unsustainable cycle

@NurDumm

2 жыл бұрын

True, I´m in this as well :)

@phoqueme

2 жыл бұрын

Which leads to negative consequences...

The thing about side hustles and converting them into full time jobs is that they don't save you from the forty hour work week. They start the 80 hour work week. When you're starting a buisness in order to succeed you need to spend insane time initially.

@hulkwarrior

Жыл бұрын

I'd rather spend that time on myself then on someone else's business.

I had a side hustle one summer. Scrapping. I was driving around, picking up metal off of the sides of roads and turning it in for scrap weight. Even got to the point I was separating, cleaning and melting it down for more value

Ah the 'multiple streams of income' story... bluntly the modern economy rewards specialisation. You will maximise hourly income by specialising. What you should do is invest in increasing your education and skills, particularly in rare and valuable areas, and invest responsibly. But no one wants to hear that, they think they can build a Shopify store that will make them a millionaire

@geordirendum583

2 жыл бұрын

I love this channel because it relieves the social pressure induced by all the "hustler youtubers" and ect.

@Fantaztig

2 жыл бұрын

This is not entirely true though, broad skills are just needed as much and will be rewarded as much, it just depends on finding the right position

@troywalkertheprogressivean8433

2 жыл бұрын

Or maybe that's just a small scale solution since there aren't tens of millions of such jobs available.

@Greatscott24

2 жыл бұрын

While this is completely true, there is the dilemma of increased specialization not being for everybody. Many specialized jobs, such as a React software engineer, are highly skilled positions that only a select percentage of society could even do. The average door dash driver isn’t intellectually trained or skilled enough to do many of these specialized jobs. The ones who are lack the money to invest in themselves.

@luisandrade2254

2 жыл бұрын

@@troywalkertheprogressivean8433 what there are literally hundreds of millions of jobs in America

It's better to focus on building 1 or 2 income sources than having 20 streams of income that gives you a few dollars here and there.

@kevindudson2344

2 жыл бұрын

True story bruh!

@shimmy_fpv

2 жыл бұрын

And the time adds up quick, there are so many hours in the day and we are only human. It takes some pretty nuts willpower to do 12 hours of actual hard work per day. I'm not even convinced it's possible

@thejuansshow6410

2 жыл бұрын

@@shimmy_fpv I was averaging 65 hours a week at my last job so we were pushed to the limit averaging 12-13 hours a day

@jas_bataille

2 жыл бұрын

This is true. The average millionaire might have around 7 streams of income, but they're all subsidiaries of a main company. If they're honest they will tell you that you need to focus on a single thing for years.

@thejuansshow6410

2 жыл бұрын

@@jas_bataille yeah it's a struggle it kind of makes you think you have to do 7 different things 😅😅 and it's a huge mind fuck but it's more effective to focus on one or two things and learn investing and obviously money management is key as well.

So I make jewelry as my side hustle and I’m glad finally people are telling the truth about side hustles. Even though I have a 9 to 5 working from home, the work I do is a lot and I’m usually exhausted by the end of the day. I’m also starting to dislike my side hustle and I don’t put a lot of effort in creating my content anymore.

I would add one more aspect. If the side hustle improves your skills and/or makes you a known person in your regular job field, you don’t have to earn any money from it directly to make the side hustle worth it.

@dailytact1370

2 жыл бұрын

I think this is an incredibly important aspect. It could even be that they just hone your skills in something you find interesting or might have use for in the future even if you don't like it.

@MHNK77

2 жыл бұрын

Correcto! You can increase your value which will eventually pay off (hopefully) while receiving $0

@dmitrykargin4060

2 жыл бұрын

Then it is just sort of time investment into your regular career

@evanpatten4101

2 жыл бұрын

Exactly. I own a business as a home inspector and do contract inspection work for firms that work directly with banks. My full time position is a construction right-of-way inspector for a big metropolitan city. Doing the side hustles for the bank inspections has exposed me to other people in the home inspection industry and also works off my current license, not to mention I get to see new building practices at work and view some spectacular homes.

@chadwells7562

2 жыл бұрын

This! Every side project or hustle I work on benefits me several times. Usually it’s a combination of making extra money, learning a particular tech, and giving me material for publication.

Your lawn mowing example is... Odd. I had a lawn mowing business as a teen. I made absolute bank. And it wasn't through "door to door" sales. I just made large (8.5x11) bright green flyers and stuck them on the door of every house in a four block radius. Did that every year. The cost of the flyers was tiny - half of what I made with a single lawn. One guy told me that he had 4 lawn mowing flyers, but picked me because mine was "funny." I started mowing lawns when I was too young to get a "real" job, but kept doing it for years because it was just so lucrative, and didn't take much time. Best side hustle I ever had.

@armo0375

2 жыл бұрын

Hi Taran

@thequestion3953

2 жыл бұрын

Sounds like you would’ve made a very very good marketer. This example fits what he’s saying in the video perfectly. Think about it. You completely cleaned out those other people’s flyers. So it wasn’t that lawn mowing was a good hustle, it’s that your ability to get business from advertising was exceptional (or at least better than everyone else doing what you were doing).

@shimmy_fpv

2 жыл бұрын

Lawn mowing makes sense (or something like it) if you don't have proper access to the traditional labor market. I think this video makes the assumption that you already have a full time job and are supporting yourself purely off that income

@suhanaahmed4960

2 жыл бұрын

yess my brother spent most summers as a teen with his friend mowing peoples lawns. They made a few flyers and always had consistent well paid work

@darklight6921

2 жыл бұрын

it sounds great. especially if you got paid in cash

Spot on! The best strategy for a side hustle is for it to be the embryo of a potential new business doing what you like. This is one of the reasons I opened my channel. Thanks for the video.

@dhaqabk4022

2 жыл бұрын

Your concept seems unique. Good luck.

@jingexplains5481

2 жыл бұрын

Cool channel!

@letsgoBrandon204

2 жыл бұрын

My brother in law did that. He used to work for the local council and hated it. He very slowly worked up to having a tailoring business from his house.

@michaelhuebner6843

Жыл бұрын

KZread is no different than Uber. KZread sets ground rules for you, they hold the power to cancel you, and they set your pay rate with Google AdSense. Uber does the same thing for drivers on it's platform. It's just a platform to work on, not an employer. Until you understand that you don't understand the gig economy.

Im a 27 year entrepreneur...i 100% agree, my side businesses time proved to be a complete waste of time and missed opportunities in my main

@lampyrisnoctiluca9904

2 жыл бұрын

How is it going?

@marksoberay2318

2 жыл бұрын

@@lampyrisnoctiluca9904 extremely well, I found a niche and gained extreme expertise, thats a powerful formula

@lampyrisnoctiluca9904

2 жыл бұрын

@@marksoberay2318 Great!

@quandaledingle7861

2 жыл бұрын

What‘s your main business about if you don‘t mind me asking ?

@marksoberay2318

2 жыл бұрын

@@quandaledingle7861 rehearsal studios for musicians

I started making KZread videos and discovered that I love video editing. So a year and a half ago I decided to do video editing as a side hustle. I made a nice video editing portfolio page with a video intro, then found clients via cold emailing and UpWork. In three months I had 4 clients and was making as much money as my 9-5 job. Four months after that, my job fired me (COVID-related reasons) but everything was dandy. I became a freelance video editor and moved closer to my family to slash my rent in half (DC -> SC). I work with people who love my work and I love what I do. So for me, trying a side hustle made me find a job that I enjoy doing. Should've tried it years ago!

@markk3453

2 жыл бұрын

ur very lucky. not everyone comes across something that they can do like drinking coffee and turn it into full-time job.

@herogebrial

2 жыл бұрын

Good on you yousef. Keep it up!

@YaYousef5

2 жыл бұрын

@@herogebrial thank you 🤗

@YaYousef5

2 жыл бұрын

@@markk3453 I wouldn't call it luck. I spent years honing my craft of video editing and on average I would get 1 response for every 1000 cold emails. I'm consistent, timely and very good at what I do. This has lead to my clients referring me to other people!

@Greatscott24

2 жыл бұрын

This is a very inspiring story, especially with the added adversity of the Covid nonsense. Way to go!

Hustle culture can make you rich if you do one important thing, abandon your morality and your conscience. That's how you succeed in MLM's or selling stuff on eBay. You have to be willing to exploit your friends and families. You have to be willing to scalp GPU's, XBox's, PS5's. If you can push down your sense of shame and guilt, it's easy to make money. That's how most of those motivational speakers and hustle & grind influencers got their money. They have no problem telling people to spend their emergency savings to buy their courses or shill pump and dump cryptos to their fans. You can do that too, just give up your conscience and morals.

@luisandrade2254

2 жыл бұрын

Jeez man dark

@krinkovakwarfare

2 жыл бұрын

Sigma tip #6742: Abandon your morals

@Samurai31631

2 жыл бұрын

Chicks who escort on the side must be similar. Get the cash, screw everything else. Lol

@Demopans5990

2 жыл бұрын

@@Samurai31631 At least professional escorts are perfectly honest with their line of work. Scalpers and influences can go rot in hell

@Cookiekeks

2 жыл бұрын

@@Samurai31631 They don't harm anyone except maybe themselves. You can be a perfectly moral escort lady.

I'm not even kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it, Investing is a long-term game, so I try to focus on the long term.

@josephhughes9583

Жыл бұрын

I cannot focus on the long run when I should be retiring in 4years, you see l've got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/ unstable market doesn't provide any calculated risk opportunities to make profit?

@rebeccamoore8366

Жыл бұрын

There are a lot of strategies to make tongue wetting profit especially in a down market, but such sophisticated trades can only be carried out by proper market experts

@donalddavis4387

Жыл бұрын

I totally agree, I have been consistent with my profit regardless of the market conditions, I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from an investment adviser that was recommended by a popular economist on a popular forum, long story short, its been years now and I've gained over $850k following guidance from my investment adviser.

@cooperhayes7055

Жыл бұрын

I've been down a ton, I only hold so that I can recover, I really need help, who is this investment-adviser that guides you

@donalddavis4387

Жыл бұрын

If that is the case, it would be an innovative suggestion to look out for Financial Advisors like Olivia Maria Lucas who can help shape up your portfolio. Trying times are ahead, and good personal financial management will be vital to weather the storm.

Yeah, got a lot of bad money advice in my 20s, I think a lot of us did.

I think the key is to find side gigs that overlap in terms of skills and experience, with your day job, assuming that is what you want as a career. In my case, I’m in software development and I intend that to be my career. So I went out and started doing freelance work on the side to earn extra money. I’ve been doing it for 2 years now and it’s been excellent, both as an income boost and a way to expand and refine my skillset

@jayc7612

Жыл бұрын

Where did you find clients, I just graduated College and started my newgrad role but am looking for freelance work. Any advice?

@amitjain9389

Жыл бұрын

I'm curious know how did you find clients. I have been trying it but don't get any clients. I'm in development as well.

"I think most people who perpetuate these ideas are people who genuinely need to believe it's true." Thank you for saying this. I think its a very interesting sociological case study to examine the rise of hustle culture among younger Americans who generally feel left out of the economy at large. Between job instability and crippling student loan debt, I agree that many of the people who push for this do so out of a necessity. They've been told their whole lives that if they just had a dream and worked hard at it, then they would somehow succeed. Thats generally the American hyper-individualist ethos, and one that no longer feels tenable in the modern economic landscape. Hustle culture just feels like more of a coping mechanism if anything.

@catalinastingaciu8584

2 жыл бұрын

among younger Americans... I find myself having to say this again, America is very small compared to the rest of the world. Stop thinking of your country as the only one, or as the standard, you are getting very skewed results because you are only accounting for such a small portion of the planet's population, a portion which is not representative for the world.

@monsterhunter445

Жыл бұрын

@@catalinastingaciu8584 yeah but USA owns the largest military and one of the largest economies. Is overall an empire also this person is living in the US

@zombieboy937

Жыл бұрын

@Catalina Stingaciu holy hell, you can't read.

@darkskinwhite

8 ай бұрын

well said brother.

@factorfitness3713

8 ай бұрын

The people that perpetuate these ideas are the ones who want to get rich teaching you to get rich, not people that are already rich. People that already make good money aren't out there teaching other people to get rich - they spend all their time getting rich themselves, or enjoying their lives.

I am a high income earner ( not trying to brag, over $500k a year ) and I totally agree, I made all my income from specializing in my day job ( high end software engineer ), which then allow me to buy multiple properties which I can rent out, and buy stocks. I have tried to start some side business ideas on the side and every one of them failed. My main job is the only real thing keep me afloat, everything else is just play money and secondary.

@MrAngryCucaracha

2 жыл бұрын

What did you specialize on within software engineering?

@chattingman8546

2 жыл бұрын

Bro u realize side jobs are generally occupations or business that generate money outside your standard career. Just glancing at your paragraph i see two successful side jobs. That would be the rental property and stocks.

@sharp615

2 жыл бұрын

Do you have any advice for a young SWE especially about the career route to take?

@domisPL_01

2 жыл бұрын

@@sharp615 learn algorithms :) (computer science)

@iannordin5250

2 жыл бұрын

@@chattingman8546 I would hardly call day trading and landlording "jobs." Unless you're down at the rentals actively servicing the properties and providing direct services for the renters you're just managing an asset. And trading is really just gambling lol.

7:10 rich guy here. You’re right on. I got my “multiple streams of income” by becoming a rich guy in focusing on ONE. then after I started my business I got more income streams by utilizing my wealth.

@saadabdullah4245

2 жыл бұрын

What is your 1 focus if i may ask?

@codycast

2 жыл бұрын

@@saadabdullah4245 class c multifamily in one specific growth city.

@saadabdullah4245

2 жыл бұрын

@@codycast nooo i meant your business

@codycast

2 жыл бұрын

@@saadabdullah4245 not sure your question. I own and manage apartment buildings. That is my business.

I'm so glad to see this. Hustle culture is highly overblown. You hit many valid points and no one got rich by working 7 jobs. Multiple income streams come from investing earned money in appreciating assets. The only thing I disagreed with was hinting that starting a business is also a bad idea. While not all businesses will be successful, starting one and growing it is a path to wealth.

@petitio_principii

Жыл бұрын

@@quinnschroetlin business success is essentially a matter of there being a demand for something, and the business being capable to deliver efficiently, competitively (or monopolistically) enough. Personal satisfaction with the subject can be a trap, lure people into areas with unfavorable demand/supply ratios, unless one's personal tastes in the activities turned into a business is highly eccentric, or one's capability to deliver is truly exceptional, or one has somehow acquired a celebrity status that generate demand. All of which is also to say that the chances are lower than in less appealing activities with enough demand.

@stephenlacher587

Жыл бұрын

It doesn't say 7 JAWBs...do a little study or just continue to convince yourself you're doing fine.

Being a gig musician or DJ is probably one of the better side hustles. It's a job that you definitely can make money while not easy at the start, it's possible to have a steady income. While it's not a flexible job, it is almost always outside of regular office hours. Almost nobody will host a wedding at 2pm on a Tuesday, or hire a DJ at 10am Friday. Almost all musician jobs are during periods where people would come down for a drink. And you can totally perform after your regular job. 3. Most people start off with a passion for music, nobody picks up the guitar because they want to torture themselves. So if you are good enough to gig, you definetly have some drive for it 4. A very good reason why it isn't your main job, you literally can't, it's not like you can go down to a bar, play music from 9 to 5 and get paid. You are only needed when there is demand, there is only so many hours you can play. Most musicians put the extra time towards producing music or trying to be more famous but if you have a regular gig at a bar every Saturday night, and no bigger ambition, it's a great way to earn enough money do some investment

I've always said my part time job is working overtime shifts. Everything I need is already there and the time and a half pay is much more than most side hustles

@jarvisaddison8560

Жыл бұрын

Facts!

@theempirestrikesback

Жыл бұрын

I'm very happy for you that you have access to overtime. I never have

@sahrahras

4 ай бұрын

do most office jobs have overtime? i feel like i never see that happen

There is a whole industry behind supplying side hustles with disposable and consumable materials. Essentially a subscription.

I'm 50/50 on what you said. The end of the video when you said "to work on your side hustle and turn it into a business while you're still working". I agree 100% with you. I work 80 to 90 hrs a week and have been doing it for about a year (40 at my job and the rest at my shop). At my J.O.B. I make good money plus benefits, however I hate it. I got into the mindset to start a side hustle, than I realized why not hire people to do the physical work, while I build the brand. Most people look short term on I made an extra $500 on the weekend. But you gave up your time. If you can make $1000 extra during the week after paying labor/materials and still have your weekends, why not push for that? It takes an extreme amount off effort and patience to build a business while working a 9 to 5. And that's why most people do the "side hustles" for short term then get burnt-out on it and quit. Moral of the story work your ass off, build a long-term business not a short-term hustle.

@OP_-pk9hm

Жыл бұрын

That's an interesting point that he did fail to mention. But I want to ask to reiterate...So, you are looking at 40 hours past overtime to make an extra $1,000? Why not quit your job, and spend 60 hours on the business? If quitting is not an option, why not switch jobs that allow overtime? You'll earn more than $1000 for 40 additional hours at a new job with OT. Also, while I applaud your effort, I will say that your strategy is not feasible for most people. Those with kids are disqualified. If you have a partner, you are disqualified. Any social life you have on weekdays is gone. Yes, you have your weekends and are not physically tired from labor, but your mind has to be so fried that you cannot even enjoy a weekend like someone who only works 40 hours, making $45,000 a year. This begs the question of whether this is a legitimate strategy or chasing money so hard that you give up the more essential things in life to receive money that does not show up until years later.

Work to live not live to work, i've never made a single penny from anything other than my full time career. Used to make me feel awful, but then I realised my job gives me the life that I want and i'm free to do the things I love without turning it all into a business.

I have a side hustle...it started out as something I enjoyed doing while I can make some extra cash..now its more like a second job because due to some life circumstances I actually need that second small income...so its more its more like a second job that I need...its no longer fun

I think there are some pretty obvious answers to some of the questions you stated. If the side hustle makes more money why not do it full time? A stable job that earns less pairs quite well with a side hustle that might suddenly stop being possible next year based on factors outside your control. If you don't enjoy mowing all the time why are you doing it to yourself at all? I think most people in this circumstance literally like doing outside physical work occasionally, just not all the time. It has nothing to do with liking the 'marketing aspect' of the job but not the mowing.

Selling drugs has always been the OG side hustle

@donaldlyons17

2 жыл бұрын

You know drugs sell themselves people are just the funnel.

@LuckyvillageLife

3 ай бұрын

Zehahahahaha sounds good, Thailand will be best Place for selling Drug especially Mariyuana

@giakurstenschweizer73

3 ай бұрын

Thought it was prostitution 😆🤦‍♀️😂

I personally have been working side hustles for years, and the main motivation is the money the second motivation is completing a task when I want to do it. I'm not tied to a specific schedule or a manager saying things need to be done by a specific time. I perform the task and get compensated when I say I want too

The sad part is that most people’s side hustle consists of making a corporation rich. Driving Uber, door dash, or being a pawn in some pyramid scheme.

What happens when your side hustle begins to grow and generate real income for you? Do you make that your new job and then have to think up another idea? I've seen so many videos promoting a side gig and almost all of them are just telling people to be creative about starting a part-time job. It's just another job. I'm so glad you said that.

I wanted to fokus on the stock market as a side hustle, that was about 4 years ago. I learnd more and more about it, learned to code, proper money management (not just in stocks but in general), and discovered a really deep passion for numbers and statistiks. So I ended up taking every free class on coding and programing whilest studying architecture. Gotta say, side hustles are really good to look into different jobs and just to learn more. :)

i started a side hustle as a notary public. after a year I was able to turn it into a full time job and was making 10-12k a month, after biden got elected the whole housing market kinda screeched to a halt and now its back to side money, I had to get a regular job again. be wary that market fluctuations can affect your business outside of your control. there is a lot of bullshit going on in the notary industry right now. its BAD.

I feel you glossed over the "monetizing your hobbies" part. I'm not sure if it's to be called a side hustle then, if it's doing the hobby anyway and then putting it out in case someone wants to pay you for it (think especially creative hobbies in art, photography you used quite a lot of footage of, game dev etc.). The idea is, I don't attempt making gamedev my main source of income. But once I have something worthwhile, I totally WILL put it out and monetize it. Not as a hustle thing to do, but literally as a hobby product I would make anyway, but letting it bring some money. Because, once it is done anyway, why the hell not.

Thanks for differentiating between starting a business and a side hustle. Even though many side hustles are micro-businesses, a side hustle is not the same as starting a company or transitioning from one career to another. And specialization is key too. Do what you are excellent at, and once your business gets big enough, outsource what you are not good at to people who are good at it. Very good points in your video.

As somebody who is making my income through many streams, I think this video ignores one issue: The law of diminishing marginal returns, which also applies to enjoyment. You ask "Why not make lawn mowing your main job, if you enjoy it"? The fact is, due to a law of diminishing marginal returns, every next day of lawn mowing in the same week is likely to be less enjoyable / more boring / more tiring than the one before. One may like to spend one day per week working outside in "fresh air", but may prefer a mental job to a physical job at the other time, for example. In the same fashion, one type of mental work may break the routine of another type of mental work. So it is not like "If something is enjoyable for 1 day a week, it is also equally enjoyable for 5 days a week". For me - and many/most people - it is vice-versa. I'd think that, should they have an opportunity to earn *the same amount* by doing a different job every day of a week and doing the same job, most people would choose to do different jobs due to the law of diminishing marginal returns. In fact, many of the hobbies people have are nothing else than somebody else's jobs. E.g. if you enjoy playing PC games - there are e-sportsmen who earn money doing just that. If you enjoy writing about your travels or posting on Instagram - there are influencers who earn money by that. You enjoy playing basketball - other people earn millions doing that in NBA. What is the typical difference between someone who actually *pays* for a hobby and somebody who *gets paid* for the same (besides talent/capability)? It is professionalization. You won't become a professional basketball player or e-sportsman by just playing in the evenings. You'll have to do it so much that the law of diminishing marginal returns will make it much, much less enjoyable to you. But what if you are able to find a niche where you are actually able to make money without committing all or most of your time to it? That way, you may earn from something that is not a total routine for you. I think, that is just great - you may use the law of diminishing marginal returns to your advantage.

@nothinleader

2 жыл бұрын

this is huge. I had a side hustle second job which I wouldn't want as a full time job but as a secondary job, it was different enough from my main job-I got to drive around and talk to people and be outdoors. It actually felt like a break and not work when I was doing it.

@ss_avsmt

2 жыл бұрын

You're only counting in the diminishing enjoyment here. Side hustles are presented in the media in such a way that it will make you rich. That isn't the case. Working 3 different jobs a week might get you enjoyment, but it is only by specialising that you can actually become rich. Trying different jobs for experimentation is okay, but specialising is key. You cannot be a casual programmer and think of earning a hefy salary at google. You have to be good at it.

@azkeliones

2 жыл бұрын

@@ss_avsmt Yes, you are correct. I was essentially able to choose between increasing proffessionalization (and likely total better income / career) or division of my time accross numerous activities. I chose the latter as I still earn enough for me and, ultimately, more income would have been used for hobbies anyways, just that there would be less time for them; now I am able to essentially earn from some of my hobbies or semi-hobbies without them being routine. Money *itself* is not the goal for most people in general, after all - it is *what money can buy* that is the goal. Often, money buys freedom (you can do what you want without limiting yourself), but earning money actually limits freedom (you have *less time* to do what you want) - so the correct apprroach is to find the correct balance between the two, and side hustles may help with that (but yes, I agree with you that they do not help you earn more than proffesionalization).

@lebogangp4509

2 жыл бұрын

This is the most informed comment I have seen on this video. This video is highly questionable and is being agreed with by those who have no experience in the actual topic (video creator included). You don't have to be a super specialist in anything to have joy or success. In the case of the topic at hand, you just have to be competent (deliver a good service that people pay you for) and then scale that by buying other people's time. That's how you get rich. You are spot on about diminishing returns. As hard as it is to go from 0 to 90%, it's a lot harder to go from 90 to 99%. It's counter-productive to try to do anything at 99%, as you can get far more utility by doing everything at 70% or 80%. As an analogy, you are winning if you health, wealth, and social standing at 75%, as opposed to having 99% of any of those at the cost of the others.

@luisandrade2254

2 жыл бұрын

@@ss_avsmt i dont know anyone who has ever presented side hustles as something to make you rich at best they help you save money that to make you rich

My dad had multiple sources of income before he went to jail.... robbery, kidnapping, prostitution, drug trafficking, extortion, gambling, fraud

As a small business owner, I like your analysis. It's true: running a small business is quite hard. You need to put your resources to where you can be your best, and outsource the rest. I can spend 50 hours designing my website, which is 50 hours I don't have for other stuff now, OR I can spend two hours with a web designer, and then spend the other 48 hours (i.e., the rest of my week) doing my actual craft, or something I am better at. I learned a lot of stuff the hard way - but this is one of them: learn when outsourcing makes sense. I don't mean overseas per se, but I mean when do you delegate stuff to someone else to help you be more productive/profitable.

@ericcarson342

Жыл бұрын

Exactly. There are exact trade-offs. But whatever your craft is, remember that you are in the marketing business first. Your primary job is to get customers, however that may look like.

So basically KISS method still applies to getting rich. Do 1 in demand thing extremely well and max that out, and then dump the extra money into various other investments. That sure makes things seem way more achievable😄

@jeffreyvanco1164

Жыл бұрын

Why laugh? What do you do for work? If your job pays nothing, invest into yourself first. Go earn a degree in something that pays well. You can do anything you want.

I agree with almost all of the points in this video, but I feel like you're missing the case where the side hustle just isn't scalable. An example: My roommate and I flip furniture on Facebook marketplace. We're limited by the number of good deals posted in our area, as well as the storage space in our apartment. I really enjoy the "work" (buying stuff, and especially selling it for a profit) but I can't make it my full time job, because it simply isn't scalable. I don't want to pick up a side gig as a software developer, because I feel like I do enough of that at work and on personal side projects. The furniture flipping side hustle is very relaxing to me, and I great chance to hang out with a friend.

@Elbrasch

2 жыл бұрын

That is literally the point of the example at the end through?

@paigetelles

2 жыл бұрын

I think this is something that could be scaled but it would take a lot of creativity. For example you could make an app specifically for people to sell flipped furniture but then take a small % of each sale, like depop for vintage or flipped furniture. Another option could be hiring a team to help you locate more furniture, flip it, and sell it, so that you’re getting a lot done much faster. I’m by no means an expert, just from my understanding these could be possibilities for you. Hope you continue loving the work! That’s the most important part of any job :) good luck my friend!

@christinecorrrea5402

2 жыл бұрын

Just enjoy the time with your friend, most people dont even have friends as an adult that they regularly do fun things with. Wealth of social life cant be bought with money. As a bonus, most people that live past 100 culturally have a thriving social life into their old years so you might even be adding years to your life literally. 👍

@d4b

2 жыл бұрын

And even if something CAN be scaled, one might not WANT to scale it. I'm fortunate to have a number of different incomes, each involving a small amount of work. For example, one client has me cleaning printers for ten hours, once every two weeks. Would I want to do this every day? Absolutely not, but I'm actually happy doing it one day every two weeks, and then moving on to a totally different task the next day, and so on. The "well paid torture" line in the video assumes that work that one may dislike full-time is also distasteful for only a few hours, and, to be honest, that's not always the case.

@carloshour8263

2 жыл бұрын

More space and a vehicle able to pick up multiple pieces of furniture from a larger radius would make your business scalable. Make routes of thrift stores and find as many estate sales as you can.

Without this "multiple sources of income" nonsense literally 90% of KZread finance gurus would have no content 😂

"Multiple streams of income" is a pitch from grifters piggybacking on the destruction of labor rights and the casualization of work through the gig economy. Full stop. So glad to see someone actually cut through the bullshit and point out that in a market which explicitly incentivizes and rewards specialization of labor, the side hustle is a spotlight pointing at a job market not meeting its end of the promise.

I’m glad I’m still in my 20s when I finally let go of the dream of “being rich”. It’s like a whole weight lifted off. This natural world has so much more to offer. And we choose a human-made concept like money to rule our lives. It’s a disgrace. LACK of money can bring misery yes. But an abundance of it does not guarantee the opposite. Excess money buys pleasure not happiness. Two different concepts. Happiness is the selfless version of pleasure, and I think we should all strive for it.

@Gloroxsocks

8 ай бұрын

I love this

@johncalla2151

8 ай бұрын

That is true for people who are inward-focused. But if for someone whose happiness involves being outward-focused -- helping people, charitable donations, sponsoring activities / sports, giving people jobs, building things, etc. -- then attaining wealth is necessary for those goals.

I started a side hustle selling stuff on ebay my second year in college, the next year I figured out it's cheaper to contract manufacture the items to sell, and by the time I graduated I had my own machines and small manufacturing business that I felt comfortable going into full time right after college. I no longer sell on Ebay like how I started, but it was a great stepping stone to figuring out how to actually run a business, especially from the limitations of a dorm room and college budget.

I've been driving for Lyft off and on for 7 years now. The reason it works for me is because I have chronic fatigue syndrome so Lyft is a job I can when I'm feeling well enough to work. Most "regular jobs" don't really allow me to work when I'm able. They expect you to clock in and work the whole time and would generally be angry if I hit an energy lull and have to take a 30 minutes nap at odd times of the day. So sometimes a "side hustle" works when a "regular job" doesn't.

I sort of stumbled in a side hustle. I got into 3D printing with filament, then resin, then realized that both hobbies got expensive in a hurry. So I work with a few artists selling resin prints on Etsy. In answer to the questions: 1. Can it make money: every month I've had my store open I turn a profit, and my only goal is paying back patreon fees and resin cost. So yes. 2. Flexible schedule: The prints run while I'm at work and the cleanup and shipping is only a few hours a week. 3. Capable: took a bit of learning and I'm not amazing, but I'm good enough to sell stuff. 4. Why not go full time? Don't move nearly enough models for that and the capacity to create at that scale takes an entire print farm. Plus I like health insurance. And my job is relatively guaranteed while the store is mostly just paying for itself. I am incredibly lucky in this regard, thank you for an excellent video.

Mowing lawn, gardening, delivering on a bike or any physical work is also a nice workout. You should work out at least a few hours every week anyways, and if you get money for it instead of buying a gym membership or something, that's a huge plus. As long as your main job is a desk job of course.

Good info man! Points I liked… 1) 7 streams of income are a result of investing in multiple avenues 2) side hustle is just working another job unless you are doing it to replace your main income source.

The advice on this channel is gold! I’ve drawn the same conclusions as you in a lot of your videos. Thank you for sharing the truth and not hustle culture guru bullshit. This is one of the few honest channels on money that exists.

As much as I like money, a stressful work environment, working someone else's clock to do a job I find no fulfillment in isn't worth it. I'm so happy that my investments in the financial markets keep securing me unvarying profits

@Mhousley

2 жыл бұрын

Indeed the financial markets can be very profits worthy regardless of its complex nature. I believe with side hustles and investments there's no way one would be a W-2 employee until old age. Sounds depressing

@ericmckenzie9708

2 жыл бұрын

Most times it still amazes me greatly how I went from an average lifestyle to earning over $169k in dividends. I for one believe that investing in stocks and quality dividend paying companies is a relatively easy strategy to create generational wealth

@wendylistings3234

2 жыл бұрын

@@ericmckenzie9708 What exactly are your investments choices , I could use some help over here too. My stocks picks have been depressingly bad to be frank , I’m currently in need of a good investment plan, I have a about $70,000+ in a savings account yielding next to nothing. What do you propose that can help me , I’m keen on advancing my portfolio a little further

@ericmckenzie9708

2 жыл бұрын

Actually there’s no particular sector I focus on , I have my funds and investments well diversified using signals from my IA , Noud Mikan. He’s a Belgian pro investor, well regulated and licensed by the FCA to trade securities…..he’s quite known on CNBC and to be honest it’s been a huge relief, good earnings and little to no engagement at all on my part. So far his stocks picks are top notch , my aggressive portfolio returned almost $220k from Q4 and SCHD last year…I tell you his quite the genius in investing and portfolio diversification. Do a little research on him

@Couchlnvestor

2 жыл бұрын

I do believe you earning as result of professional system buddy , for facts it makes whatever you do easier and beneficial….it as well relates in other aspects of life 👍🏻 Contradictorily what if I want to work with your broker , is it possible to get to him ? , I really don’t mind trying and seeing for myself

Dude you always put my thoughts in order. I respect you for that!

Super insightful perspective on side gigs! I think lots of times these hustles are only attractive when they’re hypothetical. When the rubber meets the road, the allure wears off. Great video as always! 👍

You can have side hustles. I’m a programmer and starting 2014 I started making websites for ads. I enjoy working on them once a month or so and they bring me a pretty good chunk of income. I could not work anymore but working is fun for me. 🤷‍♂️

The moment I got a sizeable pay rise, I quit my side hustle. I had a KZread channel and I was close to monetisation. But with all the editing, research and filming, it was becoming a full time gig, outside my full time job. And I didn't want KZread to be my job.

I’ve been saying this FOR YEARS!!! thank you for putting my thoughts “to paper” Great video

I have a great side hustle that I do while I’m at work…I’m in construction. I see sooo much copper wire being thrown out (because it’s unstripped or tarnished) that I’m leaving with about 10-15 pounds a day. If I do have to strip it, it takes no more than 10 minutes at home. Then a trip to the scrap yard to sell it once a month and BOOM a couple extra hundred each month. That’s $3000+ a year

THANK YOU! This is a great piece of content that reinforces the research and conclusions in books like The Millionaire Next Door, The Millionaire Mind and other books on retirement investing. Finally. Someone getting out the real stuff, not the flashy headlines.

Anyone here from Dantavius' iceberg playlist?

My ex drove me crazy. We were both CNAs at a nursing home. Always short staffed. Instead of working more shifts to get overtime... She got a job at Starbucks as a parttime side job. I'm like, "not only are you making $5 less per hour... You are working just as hard with no chance of getting overtime pay!" Then she would quit Starbucks or get cored within 2 months cuz she or burnt out...

@auxencefromont1989

2 жыл бұрын

@How Money Works ^ | This is a bot, its not the real one

I appreciate the amount of critical thinking you put into your videos, and how clear you are in explaining things.

Honestly, I just appreciate the hope I get from it. The odds are long, but the minute possibility of having a job that I don't hate is worth a lot to me.

@missbearlockholmes

6 ай бұрын

A job I don't hate, and a job free from the casual mistreatment that employers and coworkers seem to dole out.

Really enjoying your series. Very well balanced. Has someone who has "been there, done that" your facts and advice in all of your videos is dead on.

Thought-provoking, as usual. I hope you do get in a position to just do your channel/video business full time. That would be one of those _beating-the-system_ achievements, for sure. I'd say you're getting pretty darn close based upon what I know about how channels work.

@Me-eb3wv

2 жыл бұрын

Hi big fan

@yagomizuma2275

2 жыл бұрын

unfortunately, he spends it all in stock photos

@averagebilly

2 жыл бұрын

I think that he'd have to prove that he is able to reliably create content for the channel, and that the channel can reliably provide income. Sponsors might not want to invest in someone with a limited track record, and How Money Works is probably smart enough to not give up a stable banking job until he has a surefire replacement (patreon, consistent sponsors, etc.).

@KineticSymphony

2 жыл бұрын

He definitely can, he's getting 3 million channel views a month, in the finance niche. That's an RPM (earnings per 1,000 views) of at least $15. In other words, he's making around $45,000 per month. If he can't quit his job while earning half a million a year, that's a bit concerning.

@luisandrade2254

2 жыл бұрын

@@KineticSymphony problem is KZread isn’t exactly consistent

Your channel is one of my favorites, I always look for your videos to come up. You are well spoken and attack things from the perspective of a regular person with no BS

I quit driving in Lyft when the other shift at my full time gig was pushing OT like crazy, I made so much off OT alone I stopped doing Lyft and actually reduced my stress in the long term

Everyone's dealt a different set of cards in life, and we're all just trying to play our best move. Whether you were born fortunate or born in poverty, we all just want to succeed and reach our goals, whatever those may be. If you weren't fortunate enough to grow up in a rich family, you need to recognize that and understand the odds are against you... but still, play your best move. Give it your best try. There's a reason most people don't escape it, cause it wasn't designed for everyone to get rich, but find your own path and educate yourself on this game and what the rules are, give yourself the best chance at success.

@zmojofoot76

2 жыл бұрын

Those born rich don’t have a need to succeed they can fail many times and still be okay. Unless their parents are like no you’re on your own. They don’t need anything because they already have it.

@neolink8197

2 жыл бұрын

@@zmojofoot76 Wealth is certianly generational and so is success. It's what my eyes have been opened to, money begets money and success begets success

@misterjoey3384

2 жыл бұрын

@@zmojofoot76 I'll leave this here. The rich put their money to work. The poor put their asses to work. I'm a lazy ass so I'm not about to build and run shit. I invest regularly. Your dividends are pennies to start but with patience, you'll see $1 a month then $10 then $100 and so on. Also a little crypto gambling on the side but if I lose 10% of my net worth, i won't cry but when you 10x, hoo boy.

Another side hustle that is often overlooked, and is always available, is serving/bartending. I work as an attorney, but have 3 serving shifts each week at a local casual restaurant that range from 3-5 hours. I make anywhere from $1200-$2200 a month that I then can use to pay rent, invest, or pay off student loans. Plus, I can get off easily and schedule shifts so that I still have a good work-life balance. It's also great for personal skills and I've made some great connections that have helped in my main career. It's not glamorous but there's no overhead so it's way better than Uber or Doordash. I figure I'll keep doing it until my early 30s when I'll have enough in investments for legitimate passive income. Using the serving income for rent and other essentials also lets me use my regular income however I want.

Just checked out that Gary Vaynerchuk video. I can't believe you're calling him a schmuck. He got me pumped to never stop working and said it will make me happy.

You are mostly correct about lawn mowing. You don't have to go door to door to get clients(although you can if you want). Go to Vista Print and get 10,000 door hangers made. Then pass them out in rich neighborhoods. Get help from kids if you need to. On average, you will get 1 client for every 200 door hangers passed out. Now you have 50 clients and if you are cutting in suburbs, you'll be charging $35 to $40 per lawn. That's $1,875 per week times 30 wee,s equals $56,250 in revenue. Your expenses are very low(10-15 percent). Your start up costs will run around 1,500 to 2,000 dollars. You'll average $50-60 an hour while you are working. I started out by putting my lawn mower in the trunk of my car until I could afford an old truck. The great thing about this business is you get to take 5 months off a year.

I hate how the term hustle has been morphed into some toxic overworked positivity over a shitty situation. People used to hustle because they were locked out of the prosperous and legal avenues to get ahead. So they "hustled" to get a better life for themselves. No one wants to hustle. We want one job that pays us enough to live, save, and enjoy life. Even obsessive compulsive entrepreneurs who start several companies only work on one thing at a time. Then they sell it. We've been fed lie after lie about how the rich get rich and that multitasking is a thing we should all do as often as possible or we're a slacker.

For me, doing side hustles was something to break my psychological dependence on my full-time employer. Work for a government agency and had topped out the pay scale, so any other career move would’ve involved more risk. Wanted to know that I could “hustle” through unemployment.

Very well said. I do think that you overlooked one thing though. Most of us don't have the stamina to do one thing all the time. There is only so much energy that you can put into your main thing. I find it very refreshing to have side hustles that can earn money, but are different than my main job

That’s why I subscribed this channel. The information is just so good and down to the ground.

I work in tech for about 10 years now. My income is bigger even with the main job + 2 side hustle of my peers combined. My side hustler peers often brag about how they can gain $$$ amount of dollars a week from their side hustle. To be honest I never wanted to break their bubble. So I never discussed or said that I earn way more than them despite them having several income streams. When they try to motivate me to start my side hustle I just say "I am lazy". Which actually true. I rather work from home 8-5 then have the rest of my hours to myself. Doing things that I actually love. Accepted income is subjective. Contentment is a mindset. One of my friend make just bare minimum with 0 side hustle and I can say is the happiest dude within our group living his best life. Remember money buys comfort and happiness but never contentment. That's the reason even millionaires or billionaires commit suicide. Now I am talking about TRUE contentment. Not false contentment where you just lie to yourself so you won't get depress for not making it.

Better to focus on getting a main job that pays well so you don’t have to get a side hustle. I feel if people have time and energy to work a side hustle they have the means to upskill,certify, or apply for jobs that pay more than their current position. Work should be a means to an end not a constant chase to “stack bread”. What’s the point of grinding if you can’t find balance to enjoy life but also live within your means. Imagine hustling work because you have a maxed out credit card. I agree with HMW that some people need it out of necessity for their family.

I love how you mentioned the question I seem to ask myself so much these days “who is telling the truth”.

I know a lot of Folks who have 3 side hustles and brag about making 50k . When I get just specialize job and make the same amount , then double my salary about next year when job hopping .thank you for these videos !!!

Turned my side hustle into a full time business. took me just over 2 years to do so and was the absolute best thing I've every done. I never needed a side hustle. I needed & wanted to have complete freedom of time. I could care less about the money. Having complete freedom of my time is worth more than any amount of money anyone could give me. You can make an unlimited amount of money but you can't live and unlimited amount of time. Time is the most valuable asset. In my opinion, most people that "need" a side hustle because they need more money either spend a lot of money on things they don't need, have a lot of debt that they don't want to tackle and get rid of or just do it for a short amount of time to buy something that gives them short term gratification. I don't think most people understand how powerful it is when you don't have any debts.

@ZainAhmed-ns2di

Жыл бұрын

Debts do weigh you down, but it is also impossible to create vast amounts of wealth without debt. The trick is to get comfortable with debt, but also know how to use and manage it

@lsgsrob2102

Жыл бұрын

@@ZainAhmed-ns2di Plenty of people become wealthy or well off without debt. I'm not totally against it but the stress of not having it is a big deal for me. Waking up everyday knowing that all of my money that I make is mine and doesn't have to go toward any payments. If I want something, I save up for it. Yes it take a bit longer but when I purchase it, it's mine. I think the problem for a lot of people is lifestyle creep and wanting things immediately instead of waiting so they end up being able to "afford the payment" but when you do that enough times you end up with no money at the end of the day and if something bad happens in your life and you need money for it, your screwed unless you want to stop making payments on everything and ending up messing up your financial future. I agree though that their are plenty of people out their that know what they are doing with debt, manage it well & become wealthy at a much quicker rate. Down the road once my business starts making more and more money and I have more margin to take risk then I might educate myself and try it out but for now I enjoy not having any other stressors in my life other than keeping and growing my business and enjoying the free time that I've freed up for myself.

@ZainAhmed-ns2di

Жыл бұрын

@@lsgsrob2102 agreed. I totally agree. I wish I could get comfortable with debt

Good info. Most folks don't consider all the costs involved or account for all their time invested and if htey did they'd find they'd make more money working at mcdonalds part time. And you'll never get rich working for someone else (aka a job). I make a lot more per hour on my 'side hustles' than my 'day job', but like cutting grass, it's seasonal. it's hard to make a year round full time income from a part time or seasonal business. the big issue with 'side hustles' is they're just a fancier form of selling your time, which is a limited resource. hard to scale up. You CAN make money working 7 jobs...earn every hour you're awake and have no time to spend it! LOL

I constantly have a side hustle for 7 years now, it is tough, but I live very well. And learn a lot from my side proje cts, side hustled.

“…deal with customer complaints on my eBay store.” This is the most accurate thing I’ve ever heard. USPS gets slower every year and customers have to my it my problem, open a claim, and get my funds put on hold until it gets delivered.

The most profitable side hustle is Selling ebook, training, consulting….on how others can make a lot of $$$$$ starting their side hustle with your training

@Thessalin

2 жыл бұрын

Boy howdy do I have a book for you! It's all about how to become a millionaire! Just buy my book! It's only $999,999.99!

Great video! I rarely see side hustles that make as much money as overtime at your existing job. It would seem that, per hour, a side hustle would create the fatigue of overtime, without the overtime pay. It would probably be better to have an emergency fund for a few months of living expenses in cash, and to keep an up to date resume, than it would to burn out working a side hustle.

I think you understate the "fun" aspect of a side hustle. Of course there are some people who will just push through without actually enjoying their side hustle. But it's way easier if you actually like what you are doing. When I finish my master's next year, I am looking at a lucrative career in consulting or in a corporate job, with some job offers already on the table. I am not going to need a side hustle or extra job to get through life. However, I will still work as a dance teacher on the side, which is something I have done for the last 8 years (3 years full time after highschool and part time during my Bachelor's and Master's). I enjoy the work a lot and it's a nice contrast to an office job. I think the motivation you get from something you like is highly underappreciated in the grind culture discussion. And I sincerely think that it's not harder to monetize a hobby than to sell your lawnmowing services at the door. But it's way more rewarding and fulfilling.

Starting a lawnmower business is probably more valuable in changing your mindset from employee to business owner than from cashflow. Sets you up for looking for better opportunities

the issue with side hustler is they don't know how to value their own work and often work for free, and thus is in a sense volontary slavery; they undercut those who are making a living out of that. Take the example whem women started to join the labor force... aside from the wartime, the majority of women at first were side hustler housewives who could manage to do side hustle while kids were at school; in that mesure they didn't really needed that money, it was just an extra since there husband was providing for the familly; so they worked for a lesser salary because in their mind they could leave whenever they wanted because in wasn't really needed... But that created a deprecition of salary which stagnated since then, so that eventually women now HAVE to work because a single average income cannot provide for a whole family. Which led to the wage gap, which was caused by the women at first who undercutted the salaries, then eventually the men still had the argument that they had children and wives and needed a rise, will women well often just stopped to work when they had children. That eventually became the normal things, no one planned it to exploit or oppress anyone, it's just how society culture evolved naturally. So that's an example of how side Hustle can hurt more the economy then help on the long run. if people more peoples are doing multiple jobs, eventually that will become the expected norm, and people will expect you to have multiple jobs, that's already the case as more employers are hiring part time workers.

Going door to door for my lawn mowing as a teen was the best experience of my life. It taught me a lot, introduced me to people who helped me get into the college I wanted, and I made bank. Great memories.

Gary Vee also said (paraphrasing and not a direct quote) “if you don’t want to do the rise&grind path that’s fine too, you just need to be happy with that decision. Doing what is fulfilling to you is more important than chasing a goal that you don’t believe in.” It was in one of his live QandA that got clipped and shared to TT.

If someone thinks they're making money working five jobs at the same time they're soon gonna get got by the IRS because they're not doing their accounting right.

I really like Patrick Boyle's view on this when he was interviewed by the Plain Bagel; It really pays more to focus on your day job and work extra hours or work towards additional education or a promotion.

@theempirestrikesback

Жыл бұрын

What if your in a role that has no clear role for progression but your not at the perceived apex of your skills? Lot of companies have worthwhile roles but they top out and you either have to completely reskill and change everyone's perception to be considered for a role in a different track OR roll the dice and change companies. Sometimes it makes more sense to realize you're good enough in the main and harness another skillset on the side.

At my 8-5 I work with a ton of older people who get confused by computers for the most part. I have learned as long as I look busy, and the work is getting done, nobody will question anything I am doing, so I have automated almost my entire position and haven't told anyone, so I do a lot of Fiverr gigs for extra income while at work. It's been almost five years now, and they keep giving me raises for my "outstanding work". I will admit I get bored and think about doing something else sometimes, but why would I? They have good internet and all the extra income helps a lot!

I'm able to do my side hustle while I'm at work 😎. That's truly on the side

Gosh, I wish this was the advertisement video that pops up before every youtube influencer saying that you can become rich with a side hustle with minimal ammount of work. This channel was is GOLD and I'm so glad the algorithm recommended it!