Your primary job in Michigan may not be enough to pay the bills, or you may not have enough money to put aside savings for a planned purchase, retirement or emergency. If that is the case, you may take on a second job to make up the difference. According to The Motley Fool, the term for this is a side hustle. Anyone, at any age, can take on a side hustle despite a stereotypical association with millennials. The top-earning age group for side hustles is people aged 53 to 62.
A side hustle is not necessarily all about the money, though. Some people are able to take a passion project or hobby and turn it into a money-making concern. They do it primarily for enjoyment; the money is a secondary consideration. In some cases, the side hustle turns out to be so successful that it has the potential to become a primary job.
Some people start their own business as a side hustle, while others find part-time jobs working for others. Just about anything can be a side hustle, including telemarketing, retail sales, dog walking or bartending.
While 36 percent of people working a side hustle make at least $500 per month, the amount of money you earn at your second job depends on how many you work. If you run your own business as a side hustle, it also depends on how much you charge for goods and services, and if you work for someone else as a side hustle, how much you earn depends on how much your employer is willing to pay you.
However, be careful not to take on too much work at your side hustle. You could suffer adverse health effects as a result, and your primary job could suffer as well.
The information in this article is not intended as legal advice but provided for educational purposes only.