Lizzy and Lissa break down the hidden costs – financial and otherwise – of side hustles. While side gigs can be a great way to earn extra income, they come with unexpected trade-offs, like taxes, burnout, and the struggle of time management. This episode covers the ups and downs of side hustles, but also how to make them work without sacrificing your financial well-being or mental health.
Main Topics
00:00 Introduction
01:19 Running The Numbers Segment
02:26 What Exactly Is a Side Hustle?
07:30 Motivations Outside of Money
12:51 The Costs of Side Hustles
20:41 Legal and Tax Implications
24:24 Navigating Financial Planning and Tax Strategies
25:40 Leveraging Your Skills
28:06 Balancing Time, Energy, and Resources
29:20 Side Hustles vs. Side Projects
35:26 When To Stop Hustling
39:53 20 Cents Segment
References for Statistics
https://www.marketwatch.com/guides/banking/side-hustles/
Co-Hosts
Lizzy is a strategist, alternative investments expert, and a founding partner of Pursuit Funds. Follow Lizzy: Instagram | TikTok
Lissa is a personal finance expert and content creator. Follow Lissa: YouTube | Instagram |TikTok | LinkedIn
Credits
► Produced by Lizzy Marie and Lissa Lumutenga
► Artwork by Lizzy Marie
► Music by Lissa Lumutenga, Net Net Podcast “Theme Song”
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Disclaimer
This podcast is for educational, informational, and entertainment purposes only, and should not be constituted as financial advice or any other kind of professional advice. Views and opinions are our own, and Net Net Podcast does not serve as a substitute for personalized financial guidance tailored to your specific situation.
Remember to always do YOUR own research, consult a professional as needed, and feel empowered to make your own decisions!
