Flow Chart: Should You Start a Side Hustle?

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Side hustles are great. For anyone who doesn’t earn as much as they’d like at their day job, I often recommend starting a side hustle.

But how can you know if you should start one or not? Is it the right time in your life? Do you really need the additional money? Fortunately for you, this nifty, professionally drawn flow chart can help you decide.

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14 Replies to “Flow Chart: Should You Start a Side Hustle?”

    1. $100k is just an arbitrary number. The bigger point is, if you have a high income job, you’re already doing a great job of earning money. Earning more is great, but it will be taxed at a considerably high tax rate. It’s probably more beneficial to focus on minimizing expenses than to earn more through side hustles.

    1. Hey Robert, thanks for the feedback! In general, I have noticed that most people seeking F.I. are great at reducing their expenses, but very few people have mastered the art of earning more money, i.e. making $100k or more per year. That’s why I say if you’re already earning $100k you should probably focus on minimizing expenses since your day job is bringing in such a high salary and additional income will be taxed at a fairly high rate. With that said, I have nothing against anyone who side hustles and also has a high salary. Congrats for doing both!

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