What would you say if I told you there was one financial move that would fix your financial situation in four different ways? Sounds too good to be true, right? Well, it’s not! All you have to do is start a small side-hustle — really, truly small. Making just a few hundred dollars a week will let you fix your financial situation in the four following ways:
- When you start a small side-hustle, you create extra income.
This is obvious, but stick with me: an extra $500 each month could make a big difference to many of you out there. A very small and low-commitment side-hustle can wipe out many of your current expenses. That will alleviate a lot of financial stress.
- It creates tax write-offs.
Even if your side-hustle only makes a few hundred dollars a month, you can write off your cell phone bill, part of your home, part of your vehicle costs, and many of the supplies you buy around the house.
- You can pay down debt or invest.
Since the money you get from this side-hustle is extra income, you can use it to turn your financial situation around by stopping high-interest debt or taking advantage of compounding interest.
- It redirects your time and money.
Working on your side-hustle becomes a form of entertainment on its own. You’ll find you have less desire to spend your time and money wastefully because you’re so wrapped up in what you’re building.
One small move, either teaching something, selling something, or consulting, can change your life. An extra few hundred dollars a week is all it takes to completely transform your financial situation in these four ways.