May 2021 // The Wedding Edition

How to Make Your Side Hustle Your Full-Time Job | Vanessa Joy

1. DON'T JUST QUIT! WORK BOTH AT FIRST

I won't lie, you'll probably be working nights and weekends during this stage, but that's the "side" part of having a side hustle. What is so valuable about keeping the security of the day job while you work your side hustle is that you get to test out your skills in the marketplace, but you aren't taking on as much risk as those who just quit their jobs and start from scratch. Your side hustle will teach you a ton of things about what doesn't work and what does work, but the goal is to start growing your income in that side hustle until it is enough to replace all your income from your day job. Many people are tempted to get the money from their side work and fold it into the monthly budget, but if you are serious about making the leap to full-time, don't do it! Keep your expenses as close to the same as possible, using your day income. Put all the side hustle money aside. When they are roughly equal, you switch: start living off the side hustle money and put your whole day job paycheck into savings. This sounds ambitious, but remember, it's proving that you can make it when you switch to your side hustle full-time. Don't quit yet either, just because you hit a month that is equal to your day job pay. Instead, keep building that savings account until it equals three to six months of expenses. Include everything too. If your current job has nice perks like insurance or a 401(k) match, you'll want to account for that in your savings.

When you've done that, it's time to get started!

settings: f4.5 @ 1/250 iso 100

Powered by