In this June, 2019 post, CNBC’s Beth Braverman shares five myths about side hustles. Do any of these apply to you?
Myth #1: Everyone needs a side hustle.
— Question: While a little extra money sounds nice, do you want to risk less rest, family time, and relaxation?
Myth #2: Your side hustle will solve all your money problems.
— Equipment, software, education/courses, fees, and commissions often put hustlers into the red early on and/or cut into initial profits.
Myth #3: There won’t be an impact on your full-time job.
— The pull of side hustle-related messages and calls while you’re at work can be, for some, irresistible.
— Make sure your side hustle doesn’t directly or even indirectly compete with your employer’s livelihood.
Myth #4: Turning your passion into profit is a dream side hustle.
— Enthusiasm can wane once all the additional duties [marketing, accounting] kick in.
Myth #5: It’s easy to turn a side hustle into a profitable business.
— Expect long hours and plenty of ups and downs.
— Most inital side hustles aren’t successful.
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