The Lies You Have Been Told About Side Hustles & Multiple Streams of Income - How Money Works

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Side hustles and hustle culture in general might look harmless, after all what’s the problem with motivated individuals doing a little bit of extra work to put some more money in their pockets? Maybe side hustles can do some good, and I promise I will look at some examples that do genuinely make some sense in this vide.

But as always my main goal is to try and ruin a good thing and show you that this push to normalize and incentivize side hustles is something we probably shouldn’t be too excited about.

#HowMoneyWorks #SideHustles #RiseAndGrind
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Music by Epidemic Sound

Stock footage by Storyblocks

[AttackingTomato]

Door to door sales was one of the most mentally tasking jobs I've ever done. Constant rejection takes quite the toll on your psyche if you're not fully prepared

[LiveType]

Let's call a "side hustle" for what it really is. Making up for the lack of increased pay for the past 50 years in the US.

[TooLateForIeago]

For me the most disingenuous part is how little time side hustles are supposed to take. If you want money out of them, you NEED to put in a full time effort from them. The only truly passive one I've found is dividend investing, and that requires a fair amount of capital to start.

[cinderheart]

From a sociological perspective, the fact that side hustles is in the public consciousness at all says that the average person is uncertain and worried about income. That alone should be a bad sign. Most normal people don't work extra jobs out of the desire for more money, but the necessity for more money.
Something is going wrong in our economy.

[antonczerwinske]

"As always, my main goal is ruining a good thing" thats why we love your content

[anitagofradump]

Hearing a youtuber say it takes hard work AND luck is so refreshing to hear. So many people brush off the fact that luck has a major impact on almost any gig or profession. Sure you need to work hard but there are also thousands of others working just as hard if not harder and just were not lucky enough to find a break yet

[LegitBacKdrNiNJa]

The thing about side hustles and converting them into full time jobs is that they don't save you from the forty hour work week. They start the 80 hour work week. When you're starting a buisness in order to succeed you need to spend insane time initially.

[finnwheatley]

Ah the 'multiple streams of income' story... bluntly the modern economy rewards specialisation. You will maximise hourly income by specialising. What you should do is invest in increasing your education and skills, particularly in rare and valuable areas, and invest responsibly. But no one wants to hear that, they think they can build a Shopify store that will make them a millionaire

[smeedal]

Nah bruh you just gotta grind 25 hours a day and have no social life, no family life, no romantic life, and basically no well being whatsoever. Trust me Gary vee said it will be worth when your rich and still hate your life.

[TaranVH]

Your lawn mowing example is... Odd. I had a lawn mowing business as a teen. I made absolute bank. And it wasn't through "door to door" sales. I just made large (8.5x11) bright green flyers and stuck them on the door of every house in a four block radius. Did that every year. The cost of the flyers was tiny - half of what I made with a single lawn. One guy told me that he had 4 lawn mowing flyers, but picked me because mine was "funny."
I started mowing lawns when I was too young to get a "real" job, but kept doing it for years because it was just so lucrative, and didn't take much time. Best side hustle I ever had.

[TheLeah]

So I make jewelry as my side hustle and I’m glad finally people are telling the truth about side hustles. Even though I have a 9 to 5 working from home, the work I do is a lot and I’m usually exhausted by the end of the day. I’m also starting to dislike my side hustle and I don’t put a lot of effort in creating my content anymore.

[cataphracts]

A lot of youtube influencing is in itself a side-hustle for some people. You see a lot of encouragement for this not just because there can be benefits, but there's also the desire to validate yourself in your own decisions, so you try to bring people on board in advocating your lifestyle to other people. There's a lot of positive feedback in that.

[FinancialShinanigan]

It's better to focus on building 1 or 2 income sources than having 20 streams of income that gives you a few dollars here and there.

[lotsaspaghetticodejr.]

I had a side hustle one summer.

Scrapping.

I was driving around, picking up metal off of the sides of roads and turning it in for scrap weight. Even got to the point I was separating, cleaning and melting it down for more value

[MarkusWaas]

I would add one more aspect. If the side hustle improves your skills and/or makes you a known person in your regular job field, you don’t have to earn any money from it directly to make the side hustle worth it.

[ClassicalNumismatics]

Spot on! The best strategy for a side hustle is for it to be the embryo of a potential new business doing what you like. This is one of the reasons I opened my channel. Thanks for the video.

[marksoberay]

Im a 27 year entrepreneur...i 100% agree, my side businesses time proved to be a complete waste of time and missed opportunities in my main

[KingOfMadCows]

Hustle culture can make you rich if you do one important thing, abandon your morality and your conscience.

That's how you succeed in MLM's or selling stuff on eBay. You have to be willing to exploit your friends and families. You have to be willing to scalp GPU's, XBox's, PS5's. If you can push down your sense of shame and guilt, it's easy to make money. That's how most of those motivational speakers and hustle & grind influencers got their money. They have no problem telling people to spend their emergency savings to buy their courses or shill pump and dump cryptos to their fans. You can do that too, just give up your conscience and morals.

[aarondaniels]

I'm not even kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it, Investing is a long-term game, so I try to focus on the long term.

[billtheman]

I am a high income earner ( not trying to brag, over $500k a year ) and I totally agree, I made all my income from specializing in my day job ( high end software engineer ), which then allow me to buy multiple properties which I can rent out, and buy stocks. I have tried to start some side business ideas on the side and every one of them failed. My main job is the only real thing keep me afloat, everything else is just play money and secondary.