Are side hustles worth it?

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 Marie, CAIA, is a strategist, alternative investments expert, and a founding partner of Pursuit Funds. Follow Lizzy: Instagram | TikTok Lissa Lumutenga, CFP®, AFC®, 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” Talk to us Hit us up, let us know what you think: IS IT WORTH IT? 💸 DM us on Instagram: @netnetpodcast Email us at [email protected] 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!