Side Hustle
A secondary income-generating activity pursued outside of a primary job, used to supplement earnings, build savings, or develop a new business venture.
What is Side Hustle?
A side hustle is any work or business activity pursued in addition to a primary full-time or part-time job, with the goal of generating supplemental income. Side hustles range from freelancing and consulting in a person's professional field, to gig economy work such as ridesharing or food delivery, to creative pursuits such as selling handmade goods or digital products online. Beyond the immediate income benefit, side hustles can diversify income streams, reduce financial vulnerability to job loss, fund specific savings goals, and in some cases evolve into primary businesses. The rise of digital platforms has lowered barriers to entry for many types of side income.
Example
A marketing professional earning $75,000 at their full-time job builds a freelance social media consulting side hustle on weekends, earning an additional $18,000 per year. They direct this extra income entirely to a Roth IRA and an emergency fund, achieving financial goals three years faster than on their salary alone.