Should You Get a New Side Hustle in 2023?

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It may be time to pursue a different gig. 

There’s a reason side hustles have become a popular thing in recent years. Working a second job could make it possible to meet a host of financial goals, whether it’s building savings, paying off credit cards, or having funds to put down on a home.

But just because you have a side hustle doesn’t mean it’s the right one for you. In fact, now that a new year has kicked off, it may be time to abandon your current gig and find yourself a new one. And you can run through these questions to see if that makes sense.

1. Am I enjoying the work?

It’s one thing to sit through boring meetings at your main job and spend hours poring over the same old data to bring home a steady paycheck and snag benefits like health insurance. But your side gig shouldn’t be boring and miserable.

Remember, you’re giving up downtime to take on that extra work, and you’re going beyond a regular workweek. So the work you do on the side should be somewhat fulfilling. Or, at the very least, you shouldn’t hate it. If you do, it’s probably time to make a change.

2. Is the gig as flexible as I need it to be?

Some side hustles are more flexible than others. If you’re tired of having to commit to a preset schedule, then it may be time to pursue a gig that allows you to set your own hours and work at your own pace.

Let’s say your current side hustle has you waiting tables at a local restaurant every Tuesday, Wednesday, and Thursday night from 6:00 p.m. to midnight. That means you can’t say yes to social plans those nights, and you can’t schedule medical appointments or run errands during those times.

You may be able to deal with that. But if it’s becoming a problem, you can try to find a gig whose hours aren’t preset, like driving for a ride-hailing company or doing content editing or writing from home.

3. Am I happy with my earnings?

If you’re going to be giving up what could be hours of free time every week, then it should be worth your while. And if you’re not happy with your side hustle earnings, then that’s reason enough to go after a more lucrative gig.

Before you ditch your side hustle due to dissatisfaction with your earnings, though, ask yourself whether it’s possible to make it more profitable. You may, for example, be able to raise your rates or employ different tricks to get more efficient at the job at hand. But if you don’t see your earnings budging, then it pays to look for a gig that will put more cash in your pocket.

Working a side hustle means making sacrifices. So it’s important to land on a gig you find interesting, reasonably lucrative, and easy enough to fit into your schedule. If your current side hustle doesn’t fit that bill, then it may be time to go out and explore different opportunities.

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