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4 Tips to Actually Make Money With Your Side Hustle

June 9, 2023 If you’ve been thinking about starting a side hustle, you’re not alone. In fact, a 2023 survey found that half of millennials and more than half of Gen Zers have a side hustle But with all the hype around hustling, it can be hard to know whether you’ll actually make money doing something on the side.  Here are a few tips to help make sure your side hustle is worthwhile:

1. Utilize your skills and passions to add value.

People will always be willing to pay money for something that brings them joy or makes their lives more convenient. If you’re a creative type, consider selling your art or offering lessons to people who want to learn your craft. If you’re super organized (you go, girl!), you could try being a freelance assistant. Identify a need that you can fill, and you’ll be in no time! 

2. Consider your up-front costs of running the business.

Do you need to stock up on supplies before you start selling your ornate homemade crafts? Or do you need a storefront for your furniture restoration business? If so, how long might it take before you see a return on your initial investment? Create a budget and business plan before you move forward. If you need a to help get your operation running, with one of our business development officers to talk options.

3. Remember that time is money! 

Driving for a ride-share company is a pretty common way to make extra cash, but is the money worth your time investment? Do the math and figure out how much you’d have to make for side hustle to be worthwhile. If time is a constraint (which, TBH, it probably is), look for a side hustle that takes less time and can be done whenever it’s convenient for you, such as filling out surveys online or providing transcription services.

4. Manage your income like a boss.

Once you’ve got money coming in, what are you going to do with it? It’s always nice to have a little extra cash on hand, but there’s more you could be doing with that money. Consider depositing that money into a high-yield savings account, such as a or , where you can grow money even faster. You could also stow some of that extra cash in an like the girl boss you now are. Adulting FTW. If you go about it the right way, a side hustle can give you a little financial boost and help you become your most boss self. You might also be interested in Side hustles are trendy, but can you make good money in the gig economy? Get tips to ensure that your side hustle business is actually worth the time & effort. As a small business owner, you’re making all kinds of things happen every single day – from wrangling supplies to communicating with clients. But even the savviest of business managers encounter a cash flow issue once in a while. Here are a couple of tricks to help you master your cash flow. It’s time to turn that awesome business idea into action! Don’t get intimidated about launching your company. Instead follow these steps to success. Financing a small business can be tricky, even if you’ve been at it for a while. Along with day-to-day cash flow management, there are short-term challenges and long-term goals that demand your attention. So as a busier-than-ever business boss, how can you stay on top of your everyday duties while also taking steps toward your future goals?   Here are three tips to help you stay on top of your financial game and get you where you want to go. 1. Shop for the right financial partner Taking that first step and starting your business is intimidating, but it doesn’t have to be. Check out advice from our President and CEO Kim Sponem to get you ready for that leap. It’s officially gardening season! Time to open the toolshed and throw on the gloves. If you’re a first-time gardener or just don’t want to break the bank to get organic vegetables on your plate, we have a few tips for you to garden on a budget and maximize your plants and your savings. Can you dig it? (Pun intended—sorry, we couldn’t resist.) Featured Products Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Certificates Checking Accounts Home Equity Loans Home Loans Business Banking Financial Education Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts Upcoming Events Programs Tools & Calculators On-demand Webinars Podcasts About Equity in Money™ About Summit Careers News Community Giving Equity in Money™ About Summit Careers News Community Giving Help & Support Contact Us Member Support Center Schedule an Appointment Find a Branch Contact Us Member Support Center Schedule an Appointment Find a Branch Please read the following before proceeding to: The website you are about to visit is solely the responsibility of the merchant or other party providing the site. The content of this third-party site, including materials and information, is solely the responsibility of the provider of the site. The Credit Union is not responsible for any such third-party content. Any transactions that you enter into with a vendor, merchant or other party that you access through this third-party site are solely between you and that vendor, merchant or other party. The Credit Union does not endorse the content contained in this third-party site, nor the organization publishing the site, and hereby disclaims any responsibility for such content. The Credit Union Privacy Policy does not apply to this third-party site, and for further information you should consult the privacy disclosures of the third-party site. NCUA Insurance Estimator Privacy, Security & Accessibility Rates, Fees, Terms & Disclosures Routing Number *  The Wisconsin's #1 Mortgage Lender designation is based on the number of loans in 2022, gathered from the Home Mortgage Disclosure Act data compiled annually by the Consumer Financial Protection Bureau. The results of the data were obtained through the LEI: 254900NTAC4H10MGSU23 **  SBA Lender of the Year Award for Credit Unions as awarded by the Small Business Administration of Wisconsin in 2023. Copyright 2024 © Summit Credit Union. All rights reserved. If you are using a screen reader and are having problems using this website, please call 608-243-5000 for assistance. Insured by NCUA