Erin Gobler

  • How a Growth Mindset Can Help You to Reach Your Goals

    “Whether you think you can or you think you can’t – you’re right.”

    You’ve probably heard this quote by Henry Ford before. Turns out he was really onto something.

    There’s been a lot of research to look into how our mindset impacts our level of success, and it turns out, it’s pretty darn important.

    The concept of a growth mindset vs. a fixed mindset was developed by a psychologist named Carol Dweck in her book Mindset: The New Psychology of Success.

    The gist of it is that your mindset determines whether you’ll even attempt to take on new challenges and, therefore, how successful you’ll be down the road.

    This definitely got my attention because I know I definitely have some limiting beliefs about myself at times.

    In this post, I’m talking all about growth vs. fixed mindsets and sharing how a growth mindset can help you reach your goals.

     

    How a Growth Mindset Can Help You to Reach Your Goals

    There are affiliate links in this post, meaning I may make a small commission at no additional cost to you. For more information, see my full disclosure policy here.

     

    Growth Mindset vs. Fixed Mindset

    GROWTH MINDSET

    Those with a growth mindset believe that skills and intelligence can be developed. This mindset pushed people to embrace challenges and learning opportunities because they see them as the road to success and personal development.

    Because of this, people with a growth mindset are ultimately more likely to be successful and surpass their current level of achievement.

     

    FIXED MINDSET

    Those with a fixed mindset are more likely to believe that skills and intelligence are static and can’t be changed. They believe that what they’re good at now is all they’ll ever be good at.

    Because of this, people with a fixed mindset are likely only to take on tasks that will reaffirm their abilities. In other words, they only reach for goals they know they’ll reach.

    They generally aren’t going to push themselves to take on new challenges or learn new skills. They just think it can’t be done!

    And in the long-run, this really limits their success in life.

    Read More: How to Set Goals and Plan Your Best Year Ever

     

    Benefits of a Growth Mindset

    Now that you know the difference between a fixed mindset and a growth mindset (and hopefully have figured out which you have), let’s talk about some of the benefits of having a growth mindset.

     

    YOU’RE EAGER TO LEARN

    People with a growth mindset are excited to learn. They know that the knowledge and abilities they have are not finite, and they can continue to grow as individuals throughout their entire lives.

    Because of this, those with a growth mindset will be more likely to seek out learning opportunities to learn more and become more successful.

     

    YOU CAN THRIVE IN TOUGH TIMES

    People with a fixed mindset tend to believe that their current situation and abilities are permanent. This means that during tough times, people with a fixed mindset are likely to think things can’t or won’t get better.

    People with a growth mindset, however, will be more optimistic. They’ll be more persistent and embrace the challenge ahead of them. And they’ll take the lessons of their current situation and use those to be more successful and make different choices in the future.

     

    YOU LOOK AT FAILURE DIFFERENTLY

    When you fall short of reaching a goal, do you call it a failure and quit?

    Or do you take the information and experience you’ve gained from that failure and approach the same goal in a different way?

    If the first sentence sounded like you, then you’re probably hanging onto a fixed mindset right now.

    People with a growth mindset look at failure as an opportunity and a lesson. If you fall short of a goal, you haven’t failed! You just haven’t reached your goal yet.

    People with a growth mindset take note of where they fell short, and they fix those things the next time around.

    The important part is that they don’t quit just because things didn’t go perfectly the first time around.

     

    YOU’RE READY FOR A CHALLENGE

    Those with a growth mindset welcome a challenge instead of fearing it. Those with a fixed mindset are constantly trying to reaffirm their abilities, while those with a growth mindset want to expand their abilities!

    When Dweck was doing research on fixed vs. growth mindset, she worked with children to try to identify the two mindsets from a young age. They did this by offering four-year-olds a choice of puzzles to complete.

    Those with a fixed mindset continually chose easy puzzles they knew they could complete. Those with a growth mindset chose puzzles that would challenge them, even if they ultimately weren’t able to complete them.

    If you look at challenges with a fixed mindset, you might achieve everything you set out to do. But you’re also probably setting the bar so low that you know you’ll achieve everything.

    If you’re really focused on personal development, learn to face challenges with a growth mindset.

     

    How to Develop a Growth Mindset

    Now that you know the benefits of having a growth mindset, you’re probably thinking, “how the heck do I get one??” Even if you’ve had a fixed mindset your entire life, you can develop a growth mindset!

     

    IDENTIFY THE LIMITING BELIEFS

    What beliefs do you have that have been holding you back? Here are some examples of limiting beliefs you might have:

    • I’m bad at ___.
    • I can’t ___.
    • I will fail if I try ___.

    I know you’ve had limiting beliefs. I can literally think of limiting beliefs I’ve had in the last couple of days. But I noticed them for what they are, and that’s the important thing!

     

    CHALLENGE THOSE BELIEFS WITH GROWTH MINDSET BELIEFS

    When you feel that fixed mindset and limiting beliefs creeping in argue back with a growth mindset.

    Seriously, don’t take no for an answer!

    For example, if you fall short of reaching a goal, you might convince yourself that you’ve failed and aren’t capable of reaching that goal. Instead, fight back and tell yourself you haven’t reached your goal yet – there’s still time!

    If you’re striving for a goal and your fixed mindset convinces you that you’ll fail, fight back. Remind yourself that you will definitely fail if you don’t try. And if you do fall short, it isn’t a failure. It’s a learning experience. And the next time you try for that goal, you’ll have an even better shot because you’ll be armed with more information and more experience.

     

    FOCUS ON SELF-AWARENESS

    Even if you achieve that growth mindset you’ve been striving for, self-awareness is important to help you keep your growth mindset.

    Continue to push yourself to embrace learning, embrace challenges, and even embrace failure because of lessons you gain from it.

     

    Final Thoughts

    So many of us think about how our skills and knowledge might impact what we can achieve. We don’t even think of the role that mindset plays.

    But in fact, your mindset is even more important than your skills or knowledge!

    As I’ve said, having a growth mindset is something I’ve struggled with. I definitely don’t approach every challenge with optimism.

    Literally just the other day, I was telling my partner that I was convinced we weren’t going to reach a big goal we’ve been striving for. That’s why self-awareness is so important! I can’t just let that fixed mindset win because I’ll end up giving up on my goal.

    I hope you’ll use the lessons in this post to take a look at your own mindset and identify areas where a fixed mindset and limiting beliefs are holding you back.

    Then you just need to keep fighting back until that growth mindset wins!

  • 35+ Legit Ways to Make Extra Money

    I love thinking of and talking about ways to make extra money.

    Like most people in my generation, I graduated college with my fair share of student loan debt. And let’s be real, life is just expensive in general. And rather than just getting by, paying my bills, and being able to put a little extra in savings, I want to reach real financial freedom someday.

    And I truly believe that side hustles and extra income will be able to change my life – and yours too! Because of that, I’m sharing 35 ways to make extra money.

     

    35+ Legit Ways to Make Extra Money

    There are affiliate links in this post, meaning I may make a small commission at no additional cost to you. For more information, see my full disclosure policy here.

     

    Start a side hustle

    1. Start a blog: This one is first on the list because it’s seriously my favorite of all the ways to make more money! Blogging started as just a hobby for me, but as soon as I realized the income potential, I dove right in.

    2. Become an influencer: These days, it’s possible to make money with your online presence without even having a blog! If you have a significant following on social media, you can become an influencer and get paid to promote brands on social media (primarily Instagram). 

    3. Start an Etsy shop: If you’re a crafty person, Etsy is definitely for you! Etsy is an online marketplace where you can sell anything that is handmade or vintage. 

    4. Freelance writing: Not only can you make money writing for your own blog, but you can become a freelance writer and make from other sites as well. I started off using my freelance writing income to supplement my income before turning it into my full-time job. The best way to learn about freelance writing is through the course Earn More Writing, which is what I used to help me make money through freelance writing.

    5. Editing: In addition to freelance writing jobs, you can also find freelance editing jobs. Lots of blogs and websites hire freelancers to edit their articles for them.

    6. Affiliate marketing: Affiliate marketing is where you make a commission selling someone else’s product. Bloggers make a lot of money with affiliate marketing, but you definitely don’t have to have a blog to be successful at affiliate marketing! You can share affiliate links anywhere, such as your social media pages, and make a commission when someone uses them. 

    7. Become a virtual assistant: More and more companies and individuals are hiring virtual assistants, so it’s becoming a more and more lucrative career. A virtual assistant (or VA) does administrative tasks for a person or business, but it’s done online instead of having to go into an office.

    8. Social media management: If you love being on social media and figuring out social media strategy, you can become a social media manager for other companies. Many companies and websites outsource their social media management rather than bring on someone full-time to handle it.

    9. Sell your photography: If you’re good with a camera, you can use that to make extra money. You could become a part-time photographer and take on jobs on the weekends, or you can sell your photography to a number of different stock photo sites.

    10. Start a different business: The options for online businesses are pretty endless these days, and chances are you can take something you’re passionate about and figure out how to make money from it online.

    11. Self-publish books: These days, it’s surprisingly easy to publish a book. You can self-publish and sell your book solely as an eBook or even sell physical books through Amazon.

     

    Make extra money online

    12. Sign up for Rakuten: If you shop online, Rakuten is seriously the easiest way to make more money because it gives you FREE cash back on purchases you’re already making! You just sign up and click on a link through the Rakuten website when you make your purchase, and you’ll get cash back. You can sign up for Rakuten here and get $10 when you spend your first $25!

    13. Get cash back on groceries: Apps like Fetch Rewards and Ibotta allow you to get cash back on groceries you already purchase! You just upload a picture of your receipt, and you’ll earn cash back on certain grocery purchases. I use Ibotta every week and ALWAYS find something to get cash back on.

    14. Teach English online: These days, it’s super easy to find work teaching English online, and companies like VIPKID actually pay you really well to do it. You can get paid $17-$22 per hour and make your own schedule.

    15. Airbnb: If you’ve got an extra room in your home, try renting it out on Airbnb. If you live in a popular city, you might be surprised just how much you can make.

    16. Take online surveys: There are tons of companies that will pay you to take market research surveys online! They’re free and easy to join and use. The best site I found for online surveys is Survey Junkie.

     

    Offer services to other people

    17. Pet sitting: If you’re an animal lover, this one is seriously right up your alley! This could either mean you staying at someone else’s home or having their pet stay with you. Either way, it’s a win-win because you’re getting paid to hang out with animals.

    18. Babysitting: If pets aren’t your thing, but you love kids, look for babysitting or nanny jobs instead. You’re not going to get rich taking care of someone else’s kids, but it’s definitely a way to make some extra money.

    19. Housesit: Believe it or not, you can make money looking after someone’s home while they’re out of town. Sites like TrustedHousesitters can help you to connect with people who are looking for someone to housesit for them. This is an even more lucrative offer for people who are traveling and can save money by housesitting instead of paying for lodging. TrustedHousesitters is specifically for pet lovers!

    20. Yard maintenance: You can make money by mowing lawns and doing other lawn maintenance in the summer or shoveling and plowing snow in the winter.

    21. Clean homes: If you’re one of those rare people who really don’t mind cleaning, then getting paid to clean homes might be right up your alley!

    22. Rent out your car: Apps like Turo allow you to rent your car to others for the day.

     

    Sell your stuff

    23. Sell on eBay: eBay is still a great place to sell used items and ship them to their new owner.

    24. Sell on Craigslist: Craigslist is a great way to find local buyers you sell your used items. The one downside to Craigslist is meeting up with a stranger, so I always like to do this in a public place!

    25. Sell on Facebook: Facebook’s marketplace makes it super easy to sell stuff online. I’ve had a lot of success with this. The big upside to Facebook over Craigslist is that it’s a little easier to vet the person you’re meeting up with.

    26. Sell on Poshmark: If you’ve got a closet full of clothes you don’t wear, you can make extra money by selling them on Poshmark.

     

    Make extra money at your job

    27. Ask for a raise: Asking for a raise at your current job is a great way to make extra money because it doesn’t require you to take on extra work. You’re just making more doing the job you were already doing!

    28. Work overtime: If you work an hourly job, consider working extra hours to make extra money.

    29. Get a promotion: If there’s room to grow in your company, see if a promotion is available.

     

    Other ways to make extra money

    30. Pick up a seasonal job: During the holidays, there are tons of seasonal jobs available. This really comes in handy since the holidays are when most of us could use a little extra money anyways. In addition to a little extra money, you also might be able to take advantage of an employee discount for some of your Christmas shopping.

    31. Sell plasma: Did you know there are companies that will pay you for your plasma? The process is similar to donating blood, but you get paid for it. A lot of friends of mine did this in high school and college for extra money, and you can earn about $50 per donation.

    32. Sign up for credit card rewards: There are lots of credit cards that offer cash back for using them or for spending a certain amount of money in the first three months. Make sure only to go this route if you really feel you’re responsible enough for a credit card (because let’s be honest, not everybody is).

    33. Invest: Investing obviously isn’t a sure thing, and it’s not as quick of a way to make money as some of the other things on this list. But if you have the money available, you might consider investing.

    34. Become an Uber or Lyft driver: A part-time job that you can do completely on your own schedule is becoming an Uber or Lyft driver. You don’t have a schedule, so you can work around your life, and you can make a lot of money if you’re available to drive at peak times.

    35. Get a part-time job: Check out local businesses to find a part-time job. Jobs such as retail, serving, and bartending are ideal when you have your nights and weekends free.

     

    Final Thoughts

    Let’s be real – most of us could really use a little extra income these days. Whether you’re trying to get out of debt or saving for a big goal, making a little extra money is a great way to do it. Hopefully, one of the ideas on this list will speak to you and be just what you need to bring in a little extra money every month!

  • How to Set Goals and Plan Your Best Year Ever

    Just a few years ago, I was one of those people who would set a few arbitrary new year’s resolutions on January 1, only to never think about them again.

    That’s how most of us set goals. We think of a goal or something we might want to accomplish in the future. Then we either hope it happens, or we forget about it altogether.  

    But if you really want to achieve your goals, you’re going to have to do more. Achieving your goals takes time, effort, and planning. You can’t achieve goals just by hoping they happen someday. You have to take action.

    In this post, I’m going to lay out the steps you can follow to set goals you’ll actually achieve and plan your best year ever.

     

    How to Set Goals and Plan Your Best Year Ever

     

    How to Set Goals and Plan Your Best Year Ever

    STEP 1: REFLECT

    You can’t set goals for your future until you take some time to reflect on your past and where you are right now.

    I want you to grab a notebook or open a word document, and write down the following life categories:

    1. Relationships (friendships, romantic relationships, family)
    2. Health (physical and emotional)
    3. Career
    4. Finances
    5. Home/Environment
    6. Fun & Leisure
    7. Personal Growth

    If there are any major categories in your life that aren’t represented here, such as religion, parenthood, etc., feel free to add those as well.

    Next, go through each category and write down where you are NOW.

    Be honest with yourself about the good and bad in your life for each of these categories.

     

    STEP 2: ENVISION YOUR FUTURE

    Once you’ve thought about where you are right now, take a look at each of those life categories and envision what you want them to look like in the future.

    You can be as broad or as specific as you’d like. In this goal-setting exercise, we’re just envisioning our future, not choosing a big goal yet.

    For example, do you see yourself getting married? Having kids?

    Maybe you hope to own your own business someday or have a corporate career trajectory in mind.

    I love doing this exercise right after Step 1 because it’s SO eye-opening. It really shows you the discrepancies between where you are now and where you want to be. And it REALLY helps with setting goals.

     

    STEP 3: SET SMARTER GOALS

    Now that you’ve thought about what you want your future to look like in all areas of your life, I want you to focus on ONE of those areas to focus on right now.

    Yep, just one. If you set a bunch of BIG goals for yourself, you’ll be unfocused and will have a really difficult time reaching them all.

    By setting just ONE big goal, you can give it your full focus and really ensure you accomplish it.

    When it comes to setting goals, make sure to make it SMARTER:

    • Specific: The more specific your goals, the better. Don’t just set a goal of earning money with your side hustle. Set a goal of earning $1,000/month from your side hustle within the first year (for example).
    • Measurable: The progress of this goal can be easily tracked. $1,000/month is very specific – you’ll know for sure if you’ve reached it or not, as well as if you’re on track to reach it. And once you know how much you want to make per month, you know what your daily and weekly goals should be.
    • Attainable: While setting your goals high is awesome, make sure it’s something you can actually accomplish. Consider what will be required of you to complete this goal, and carefully consider whether you have that to give.
    • Relevant: Make sure your goal is in harmony with your core values and what you’re working toward in life. If your ultimate dream is to work from home full-time, then setting a goal of $1,000/month in the first year is awesome because you’re totally moving in the right direction.
    • Time Bound: Don’t make the time frame for reaching your goals open-ended. We tend to take as long to accomplish a task as we are allowed. If your goals are completely open-ended, they may never seem urgent enough to get to. As you can see, we set a time frame of one year for the goal we’re using as an example.
    • Exciting: Let’s be real – it’s going to be a lot easier to make time to work on goals that excite and inspire you. Emotions are a big factor when it comes to goal-setting, and you’re far more likely to reach for things that excite you.
    • Routine Bound: I firmly believe that creating routines and habits is the absolute best way to make changes in your life. Incorporating your goal into your daily routine ensures you’re making time for it and gives you a MUCH better chance of reaching it. For example, you might say that every evening you get home from work at 6 pm and work on your online business until 8 pm. It becomes a daily routine and ensures you’re putting in the time to reach that $1,000/month goal.

     

    STEP 4: BREAK DOWN YOUR GOALS

    Now that we’ve picked our big goal, it’s time to break it down. Looking at your goal as one big, huge step is going to be super overwhelming. You’re probably going to get discouraged pretty quickly because you just don’t know where to start.

    When I’m planning the action steps for my goals, I like to start by breaking the goal down into categories or mini goals. Basically, what big-picture things need to get done in order for you to reach your big goal?

    I do this by breaking down my big goal into categories. Then I break those categories, or mini-goals, down into smaller chunks. And then break those down into smaller chunks. And I just keep breaking them down into smaller and smaller pieces until everything leads to tiny, bite-size action items that can be put on your to-do list.

    Once you’ve done that, get those action items scheduled on your calendar or to-do list ASAP.

    Depending on the size of your goal, you might be talking about 90 days of action items, you might be talking about one year of action items, or you might be talking about even more. Just make sure you know what that time frame is (remember the T in SMARTER stands for Time-Bound).

     

    STEP 5: CREATE POSITIVE HABITS

    Setting goals is the fun part. It’s the follow-through that tends to get a bit rocky. The absolute best way to follow through on your goals and make time to work toward them every day is to form positive habits and daily routines that incorporate your goal.

    Let’s say your goal is fitness related. Maybe you want to run a marathon or lose a certain amount of weight. By working fitness into your daily routine and making it a habit, you won’t have to remind yourself every day or try to talk yourself into it. You’ll just do it.

    Here are a few things to keep in mind to REALLY make sure the habit sticks:

    • Focus on ONE habit at a time. Implementing a new habit is really hard. Implementing a bunch at once is damn near impossible.
    • Smart SMALL. If you want to start incorporating fitness into your life but NEVER work out right now, don’t try to start working out for an hour every single day. Start small and work your way up.
    • Anchor your new habit to an existing habit. Your day is already filled with habits. Anchor your new habit to one of those existing ones to make SURE it gets done.
    • Schedule it. A new habit might be hard to remember the first few weeks, so schedule it or set a reminder on your phone.

     

    STEP 6: CREATE ACCOUNTABILITY

    I tend to be a little overzealous when it comes to goal setting. And when I say a little overzealous, I mean a lot overzealous. But for years and years, I found that I would set these big lofty goals, and then they would fall through the cracks.

    Sometimes I would work toward them for a while and then lose my motivation. Or worse, I would lose my motivation pretty much right away and forget all about them.

    The best way I’ve found to stop this from happening is to create a system for accountability right away.

    So how do we go about creating accountability? Here are some ways to do just that:

    • Write down your goal. Seriously, this is a step most people DON’T take.
    • Share your goal. Pick just one person to share your goal with who can help keep you accountable, whether that be a partner, a friend, a parent, etc.
    • Track your progress. Remember that SMARTER goals are MEASURABLE, meaning you can measure their progress. Find a way to do this by using a notebook, journal, spreadsheet, etc.

     

    Final Thoughts

    As with literally anything, advice is only as good as the amount of time and effort you’re willing to put into it.

    But if you are truly diligent about implementing these steps and following through with the tasks you’ve put on your calendar, you are sure to reach your big goal this year.

  • How to Use the 80/20 Rule (AKA the Pareto Principle) to Improve Your Finances

    When it comes to life hacks, the Pareto Principle (also known as the 80/20 rule) is one that is seriously overlooked but can have a serious impact on your life.

    So what is the 80/20 rule? Founded by economist Vilfredo Pareto, the rule says that 80% of your results will come from 20% of your actions. Pareto was only using the rule for a few specific situations at the time, but it’s since been shown that it can apply to just about anything.

    And you might be surprised that the 80/20 rule can even help you to improve your personal finances, as we’ll explain in this article.

     

    How to Use the 80/20 Rule (AKA the Pareto Principle) to Improve Your Finances

     

    What is the 80/20 Rule?

    The 80/20 rule — formally known as the Pareto Principle — is a rule that states that 20% of your inputs lead to 80% of your outputs. 

    The principle dates back to the late 19th century with Pareto, an Italian economist. He noticed that 20% of the pea plants in his garden resulted in 80% of the pea pods. More importantly, he found the same pattern could apply to the country’s wealth distribution.

    In the years since Pareto discovered this principle, it’s been applied to many other areas of life, from business to law enforcement to healthcare.

    Here are a few examples of how the 80/20 rule can apply to your life:

    • Your to-do list: You might find that 20% of the tasks on your to-do list contribute to 80% of your productivity, while the other 80% of tasks contribute to just 20% of your productivity.
    • Your habits: The majority of our days are made up of habits, and you might find that just 20% of your habits are responsible for 80% of your results, whether those habits and results are good or bad.
    • Your relationships: Some of the relationships in your life are more important than others. I try to maximize the 20% of my relationships that bring me the most joy and are most important to me.
    • Your possessions: Chances are that a few of the possession in your home are the homes you use most often, while most of your possessions aren’t used on a daily basis.

     

    How to apply the 80/20 rule to your finances

    In addition to the other areas of your life where the 80/20 rule can apply, there are a few areas of your finances where it can plan an important role.

     

    YOUR BUDGET

    Many people apply the 80/20 rule to their budget as a way to allocate their spending. This budgeting method combines the Pareto Principle with the 50/30/20 budgeting method made famous by Elizabeth Warren.

    In the 50/30/20 budget, you spend 50% of your income on needs, 30% on wants, and 20% on savings. The 80/20 budget is a simpler version of it.

    Using the 80/20 budgeting method, 80% of your income goes toward monthly expenses and spending, while the other 20% goes toward savings and investments.

    Of course, the 80/20 budget rule won’t work for everyone. If you’re working toward a specific financial goal, like paying off debt or early retirement, you might put more than 20% of your income toward your goal. Meanwhile, someone with a low income or in a high-cost-of-living area may need to spend more than 80% of their income on monthly expenses and spending.

    If nothing else, this budgeting method is ideal for those who aren’t sure how much of their money they should be spending versus saving and want a bit of guidance.

     

    YOUR INVESTMENT PORTFOLIO

    Another area where the 80/20 rule can apply to your finances is your investment portfolio. In this case, many investors will find that roughly 20% of their investment holdings will lead to about 80% of their growth. 

    While these percentages won’t be exact, the general rule applies that a small number of your investments will result in the most growth. But because you can’t know ahead of time which those investments will be, it’s important to have a well-diversified portfolio.

    We can see evidence of this by looking at weighted index funds like total stock market funds or S&P 500 funds. A handful of large companies make up most of the portfolio, even though there are hundreds or thousands of companies in those funds.

     

    YOUR BUSINESS

    Another area of your finances where the 80/20 rule can apply is in your business. First, many businesses find that a small number of their products are responsible for the majority of their revenue. 

    Similarly, many businesses find that a small number of customers or clients are responsible for a majority of their business. I can attest to this one myself. A handful of my freelance clients are responsible for the majority of my income, while the rest of my clients bring in smaller (but still important) income each month.

    A final application of the 80/20 rule in business applies to where you spend your time. Spend some time paying attention to the tasks you’re working on throughout the day. You may find that a small number of tasks are directly responsible for the majority of your income, while the majority of your tasks don’t really result in any money.

     

    Final Thoughts

    It’s amazing how changing or maximizing a minority of the actions you take in a day can have such a serious impact on your results. 

    Now that you’ve seen some examples of the 80/20 rule at work, it’s easy to see how it can apply to your own life and not just to your personal finances. You may find examples in your relationships, career, personal development, home, and more.

    The key is identifying those actions that are responsible for the greatest results and finding ways to maximize or go all in on them.

  • Why You Should Start a Side Hustle (And 9 Side Hustle Ideas)

    Starting a side hustle is one of my top tips for reaching your financial goals more quickly.

    When I was working at my government job, I realized it could take my entire lifetime to pay off my debt, buy a home, and save money for travel and other financial goals. Oh, and I somehow needed to save for retirement while doing all of that.

    It just didn’t seem possible. At least, not until I started looking for other ways to make money.

    I started by making a bit of extra money here and there from my blog. But I was able to use that to launch my freelance writing business, which ended up earning me far more money (and eventually became my full-time job).

    Are you wondering whether a side hustle is right for you? In this article, I’m sharing a few reasons why you might want to start a side hustle, as well as a few side hustle ideas.

     

    Why You Should Start a Side Hustle (Plus 9 Side Hustle Ideas)

     

    Why you should start a side hustle

    YOU CAN DIVERSIFY YOUR INCOME

    When I first started blogging, I gave no thought to the idea that I might be able to monetize my blog. In fact, I didn’t even know you could make money blogging. 

    But it didn’t take me long to realize that there are a lot of people online making a great income from their blog or online business. While it didn’t replace my full-time job, it was enough to diversify my income, so I had a bit more money coming in and from a couple of sources.

    I was able to diversify my income even more when I was able to use my blog to launch my freelance writing business.

    Regardless of whether you want to turn your side hustle into a full-time job, having an extra source of income is great. Whether you’re paying off debt, saving for a trip, or just trying to build up your savings account, the extra income always helps.

     

    YOU’LL HAVE A CREATIVE OUTLET

    When I first started blogging, this is exactly why I did it. I have always loved writing, and while I was doing a lot of writing in my full-time job, it didn’t leave a lot of room for creativity.

    The content I share on my site has changed significantly from the beginning, but I still love that it’s my own space where I can write about whatever I want.

    I will say that blogging is no longer quite as much of a stress relief as it was when I first started. In the beginning, it was just a hobby and was great for stress relief and just a way to focus on something fun.

    Since I’ve started making an income from my blog, there are obviously additional stressors put on it. Nevertheless, I still get a lot of joy from it and love having it as a creative outlet. For example, unlike with my freelance writing clients, I have 100% creative control over what I publish on my own website.

     

    YOU CAN MAKE A CAREER CHANGE

    If you’re interested in switching career fields but don’t necessarily have the resume to get a job in the new field, starting a side hustle is a great way to do that.

    I had only worked in one field since graduating college, and by starting a blog, I was able to gain experience in areas I would never have otherwise. I was able to use that experience to launch my freelance writing business, which is now my career.

    I’ve seen plenty of other people who are either able to turn their side hustle into a full-time business or who are able to find a full-time job in the field of their side hustle, thanks to the experience they had gained.

     

    YOU’LL LEARN NEW SKILLS

    Even if you aren’t out to jump into a new career, you can still learn some awesome new skills from a side hustle! Before I started my blog, I had no idea of the skills and hard work that went into running a successful blog and online business.

    When I started blogging, I decided I wanted to learn as much as I could about blogging, social media, SEO, etc., and really dove into educating myself. I’ve learned so many skills over the last few years that I would never have had the chance to learn otherwise.

    Even if you aren’t planning on taking your side hustle full-time or switching to a new career field, these skills can be super useful in growing your side hustle and in other areas of your life and career as well. I definitely found some of the skills I’ve learned to be super useful in my former full-time state government job, even though it was a completely different industry.

     

    YOU’LL MEET NEW PEOPLE

    This one has come as a huge surprise to me, but definitely a pleasant one. When I first started my blog, it didn’t occur to me that I might be able to meet new people. I simply started it to have a creative outlet. However, I quickly learned that there are a ton of people online doing the same thing I am, and there are so many ways to connect with them.

    One of my favorite ways to connect with other bloggers and side hustlers has been through Facebook groups. There are tons of Facebook groups specifically for people to ask questions (lots of technical questions about setting up and running a blog, as well as questions about growing your audience).

    There are also groups solely for connecting with other online business owners. I have met some awesome people in these groups, and blogging definitely wouldn’t be the same without that online community of people who are going through all of the same struggles I am.

    Another way to meet new people in your industry is to connect with them on social media. Often this just looks like sending an Instagram DM to someone doing something similar. Over time, you can grow those DMs into a real friendship.

    Finally, there are probably in-person events in your industry where you can meet other people with a similar side hustle or interest. Not only are these conferences a great way to learn more to help grow your business, but you can also make friends in person.

     

    YOU’LL BE PUSHED OUT OF YOUR COMFORT ZONE

    I’ve always been a fairly shy person, and to be completely honest, my comfort zone has always been pretty small. I definitely feel like that has caused me to miss out on some experiences over the years.

    Since starting a blog, I’ve put myself out there in a way that I would never have otherwise and have had the opportunity to interact with people who I wouldn’t have otherwise.

    If you’re someone who has a small comfort zone as I did for most of my life, a side hustle might be an awesome opportunity for you to challenge yourself and come out of your shell a bit.

     

    Side Hustle Ideas

     

    1. Start a Blog – This is definitely #1 for me! I started my blog in 2014 and have loved it ever since. It’s a great way to make some extra money while also doing something super fun (if writing happens to be super fun for you). The best part is there are so many different ways to make money from a blog!
    2. Open an Online Shop – Are you really crafty at something? Start selling your goods online! You can set up a shop on a site like Etsy, or set up your own site altogether.
    3. Become a Freelancer – Whatever your skill is, freelance it! There are tons of sites these days that connect freelancers with work opportunities.
    4. Sell Digital Products – It’s super easy to create and sell digital products these days. There are tons of options from online courses to eBooks to printables.
    5. Teach a Skill – If you have an awesome skill, chances are someone else is willing to pay you to teach it to them. Whether you play a musical instrument or are an awesome chef, I guarantee there’s a way to make money teaching someone else your skill.
    6. Become a Dog Walker/Sitter – If you love animals, this can be a fun way to make a bit of extra money while also doing something super fun!
    7. Drive for Uber/Lyft – I know quite a few people who have become an Uber driver in addition to their full-time job.
    8. Take Online Surveys – Online surveys won’t make you a ton of money, but a little extra here and there!
    9. Get a Part-Time Job – If you want to make a bit of extra money but aren’t interested in doing anything entrepreneurial, look for a part-time job at a nearby business.

     

    Final Thoughts

    These are definitely some great reasons to start a side hustle, and the side hustle ideas I shared above are a great start if you’re looking to start one! I would LOVE for you to leave me a comment and let me know if you have a side hustle, and leave a link so we can check it out!

  • 7 Tax Tips for Your Side Hustle

    One of the biggest mistakes I made when I started my business was not understanding the tax implications. I knew I paid taxes out of my paychecks from my full-time government job. Yet somehow, I didn’t consider the fact that I would have to pay taxes on my side hustle.

    And eventually, that ignorance came back to bite me. After a couple of years, I had started to make real money and ended up with a large tax bill when I filed my taxes. I definitely learned my lesson then.

    Now over the past few years, I’ve seen more and more people starting their own side hustles, which is amazing. But whether it’s a blog, an Etsy shop, a gig side hustle, or anything else, it’s important to know what it means for your taxes.

    In retrospect, I wish I had all of the knowledge and the bookkeeping and tax system that I have today in those early years. So today, I’m sharing all of the advice I have with you to ensure you don’t make the same mistakes I do.

     

    Tax Tips For Bloggers & How I Manage My Blog Finances

    There are affiliate links in this post, meaning I may make a small commission at no additional cost to you. For more information, see my full disclosure policy here.

     

    Set up a separate bank account

    First things first, if you’ve decided to start making money from any side hustle or small business, set up a separate bank account ASAP.

    When you are making money from your side hustle, you have to track every single dollar of income you get. And since you report and pay taxes on your income, you’ll also get to deduct your expenses (meaning you need to track those too).

    The best way to do this is by keeping your side hustle income separate. If you have your side hustle income going to your personal bank account, you’re sifting through far more transactions to figure out which were and were not business-related.

    Aside from making it easier to track, it also helps with budgeting. I like investing in myself and my business with tools and education. However, I want to make sure the amount I’m investing in the business isn’t excessive compared to the amount I’m bringing in. Having a bank account with just my business income, especially early on, showed me exactly how much I’ve made from my business so I can get a look at the big-picture of my business finances.

    It also helps when it comes to paying quarterly taxes. QuickBooks (the tool I use to manage my business finances) keeps track of how much I’m likely to be paying in estimated quarterly taxes. I keep an eye on that number and make sure I always have enough set aside to cover that number.

    Then, when I have money left after the amount I need for quarterly taxes and the amount I plan to reinvest in the business, I can transfer that money into my personal bank account.

     

    Track all income and expenses

    Track every dollar you make from or spend on your side hustle. That way, when it comes time to file taxes, you’re ready to go. As I mentioned above, setting up a separate bank account makes it way easier to do this. So does using an accounting tool like QuickBooks.

    As you’re tracking your expenses, make sure you save all of your receipts so you can deduct them on your taxes. Without receipts to prove your expenses, you might run into trouble with the IRS down the road.

    I recommend doing your bookkeeping at least monthly. My QuickBooks is connected to my business checking account and credit card, meaning it automatically pulls all income and expenses. I simply sit down once per month and go through them to ensure everything is accurate.

    Then, at the end of the year, it’s easy to pull all of that information for my business tax return. And since I’ve been diligently checking it each month, I know it’s all accurate.

     

    Report all of your income

    The bottom line is that you need to report every dollar you make from your side hustle. I read articles or Facebook posts occasionally where someone says you don’t have to pay income unless you make a certain amount of money or you only have to report income you have a 1099 form for. That’s simply not the case.

    The IRS wants to know about and tax every dollar that you’re bringing in. Yes, you may get 1099 forms from some companies you work for. But that is not the only income you have to report.

    The pain of having to pay taxes on your side hustle income is a lot less than the pain of the fine you could be facing down the road if you don’t report your income.

     

    Know what you can deduct

    Having to report and pay income on your side hustle income is a bummer, but the good news is that your side hustle expenses are tax-deductible! The general rule is that you can deduct any expenses that are considered reasonable and necessary for your profession.

    The expenses you deduct will depend on the type of side hustle you have. Deductions that I deduct for my own business include the cost of my website, writing tools, bookkeeping software, marketing expenses, education, my accountant, and more.

    NerdWallet has a really good list of common tax deductions for small businesses you can use to see which of your expenses qualify.

     

    Learn about quarterly taxes

    Do you know how at your full-time job, there is money taken out of every paycheck for taxes? Yeah, that’s because the IRS wants you to be paying taxes on your money as you’re earning it. Meaning if you’re making money from your side hustle, they don’t want you to wait until the following April to be making good on that tax bill.

    That is where quarterly taxes come in. Every quarter (on April 15, June 15, September 15, and January 15), you will pay your quarterly taxes. I can’t stress enough how important it is to have an accounting tool or professional for your business because this resource can estimate your quarterly taxes for you and coordinate the payment (my go-to accounting tools are QuickBooks and my CPA).

    Don’t start freaking out now – this rule probably doesn’t apply to you if you’re a beginner. Generally, you won’t have to do this if you didn’t have a tax liability the following year OR if you don’t owe more than $1,000 in taxes for your side hustle. If you’re concerned about it, though, I would definitely talk to an accountant.

     

    Find the right tools to help you

    Finances and taxes can be complicated. There’s a reason we pay accountants so much money to do this for us. And if you’re new to the whole side hustle thing, this probably all seems pretty overwhelming to you. The best advice I can offer you is to find tools that help you to implement these tax and finance tips. Here are my favorites:

    1. QuickBooks: This is the tool I use to do my business accounting. I’ve tried a couple of other tools, and this one is hands down my favorite so far. It connects to my business bank account, credit card, and PayPal account to track all of my income and expenses. It also tracks my estimated quarterly income. Finally, it connects with TurboTax (the tool I used to use to file my taxes) so I can just import all of my business income and expenses for the year.
    2. TurboTax: As I mentioned, this is the tool I previously used to file my taxes. I now work with a CPA who files my taxes, but when your business finances are fairly simple, software like TurboTax can do the trick.

     

    Hire a CPA

    I’m going to share a secret with you: It took me more than five years of being a business owner before I finally hired an accountant. While many people will recommend this as a first step when you start a business or side hustle, I really think you can DIY your finances at first – if you understand what you’re doing.

    But eventually, you may hit a point where your financial situation has become too complicated to handle your own taxes. I should also mention that while I went the DIY approach for several years, I was a personal finance blogger, meaning I had a deeper understanding of taxes.

    If you’re feeling overwhelmed by the tax part of running a side hustle or don’t feel that you understand what’s expected of you, then I recommend hiring a CPA sooner. The cost you’ll pay is well worth avoiding any problems with the IRS.

     

    Final thoughts

    Learning to deal with taxes and finances is definitely one of the most daunting parts of having a side hustle. For years after earning income from my business, I was nervous that I would make a mistake. Do your research, and when in doubt, talk to an accountant. if you already have an accountant you work with for your taxes, they should be able to talk you through all of this.