FIRE Movement: Pillar 7 – Get A Side Hustle

FIRE Movement: Pillar 7 – Get A Side Hustle
November 20, 2019 Lauren Howells

Getting a side hustle is a great way to bring in some extra cash to fuel your FIRE goals. If you are looking for a way to earn extra money, get inspired by our list of side hustle ideas.

 

Why get a side hustle?

 

Getting a side hustle mean you can earn additional money from additional work alongside the income from your full-time job. If you treat your side hustle as a way to save money instead of supplementing your income, it can quickly become a valuable sum of money.

 

The extra money you make from your second income, can be added to your savings to help you reach your ultimate goals of financial independence and retiring early.

 

A side hustle is also a great way to do something that you’re passionate about, something you don’t always get to do in your day job.

 

Even better, having another stream of money coming in, means you don’t have to rely solely on your main job for your cash. So, if your employer had to close down or you were made redundant, you would already be one step ahead.

 

What are good secondary jobs?

 

Most of our side hustle ideas don’t need any special skills or large initial investments. This means you can start earning almost immediately, without forking out an initial lump sum for costly materials or training.

 

Delivery driver

 

Save money on your gym membership and get on your bike to deliver food to your neighbours. Becoming a delivery driver for JustEat or Deliveroo can add up to an extra £21 per hour to your bank account.

 

How much you’ll be paid varies depending on when you can deliver, but if you enjoy cycling around your home city and already own a bike, it’s a win-win scenario.

 

Become a candle maker

 

If you enjoy making your own candles, why not make it into a business? This article in The Sun is a great example of a side hustle success story – as after two years of selling candles online, this duo made enough money to open their own shop on the high street.

 

Virtual Assistant

 

Is it always you that your friends and family call on if they need help organising a get together? If so, you could use your talents to make some extra money by working online as a virtual assistant.

 

You could either set up on your own and advertise your services on social media or you could sign up to a website like PeoplePerHour to find potential clients looking for VA services.

 

Teach English from the comfort of your own home

 

There are plenty of people worldwide who want to learn English from a native English speaker. If you know your ‘your’ from your ‘you’re’ and your ‘their’ from your ‘there’, sign up to teach English via online video calls. A quick ‘Google’ will reveal a number of websites offering to link English speakers to those wanting to learn the lingo.

 

What side hustle is right for me?

 

The ideal side-hustle scenario is to pursue your passion and make some additional cash on the side.

 

Be savvy about how and when you work. Working ‘5-9’ after your ‘9-5’ can be tiring. Make sure you don’t overstretch yourself, causing your main form of income to suffer.

 

Doing something you enjoy can make it seem more like play than work.

 

If you’re more of a social butterfly, a secondary income stream that involves lots of human interaction, like teaching English, may be a better fit.

 

If you prefer to keep yourself to yourself, do something like making candles that doesn’t revolve so much around constant conversation.

 

Can’t find a side hustle?

 

There are literally hundreds of side hustles available to do either online or in person.

 

Write a list of what you enjoy doing. What are you good at? Is there a way you could make money from any of your talents? Look at what others are doing for inspiration.

 

There is a side hustle out there for everyone.

 

Summary: Side hustle your way to early retirement

 

There’s not much more satisfying than pocketing money that you have made on your own steam, outside of your day job.

 

Every pound of extra cash you earn gets you one step closer to financial independence and early retirement.