Some of those benefits include extra money, a backup plan to your regular job, and learning new job skills. But in addition to all of the positives, a side hustle may also have some downsides.
If you are wondering about your own side hustle there are ways to tell when a side hustle isn’t worth it.
1. Interferes With Your Regular Job
When you have a regular 9 to 5 job and you pick up a side hustle it can be difficult to juggle both at times. Schedules can get hectic and it can be hard to fit everything in.
Once a side hustle begins interfering with your regular job it may be time to end it. You certainly do not want to threaten your main source of income if you rely on it to keep your bills paid.
Ask yourself if your main source of income is important to maintaining your way of life. If so, consider carefully whether or not you should keep your side hustle.
2. Family Time is Non-existent
Along with the monetary benefits of a side hustle you may end up learning a new skill. However, it can be difficult to find the joy in it if you have no time to spend with your family.
It is important to spend time with your partner, spouse, or children. Otherwise you and other family members may begin to feel like all you do is work and sleep.
3. Doesn’t Pay Enough
One of the main benefits of having a side hustle is the extra income it can produce. You can use the extra money for meeting regular monthly bills or paying off debt. Of course, you could also use the money for trips or other fun activities.
But what if your side hustle isn’t generating enough income for any of these things? Why are you busting your tail, then?
For example, if you love crafts and plan to sew items to sell for a profit, are you charging enough to make it worth the effort? This is one side hustle it can be difficult to turn a profit in. People often forget to include labor costs for the work they do.
Once your side hustle isn’t paying for your time it may be time to do something else with your time.
4. Prevents Other Necessary Activities
In order to live there are certain household chores that we must all do. As an example, you must wash your laundry and do the dishes occasionally.
If your side hustle gets in the way of doing these things to the point that your home is a wreck and you can’t keep up, it may be time to throw in the towel. This is especially true if it is causing fights or hurt feelings with your significant other or spouse.
5. Causes Fatigue
Many people with a side hustle must cut their sleep hours short in order to find the time to work more hours. While this can be done for a short period of time it is harder to maintain over a longer period.
Lack of sleep can cause serious health issues including high blood pressure, increased susceptibility to illnesses, weight gain and depression among others.
In order to perform at your peak in your side hustle, regular job, and in other activities you must give your body the rest it needs. Continually short-changing it will eventually catch up to you.
Is the extra money enough to warrant the risk? Are you planning on turning your side hustle into a full time job?
Think about whether or not it is worth it to constantly feel tired and sluggish. If the answer is no, quit your side hustle.
Jeanne is a married mother of 2 grown children who works a full time job, has two side hustles, and also helps out occasionally on the farm she and her husband own together. Her background is finance and medical office management, and she hopes to help others improve their finances and change their futures.
James Hendrickson is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.