Why Side Quest for Extra Income?
February 8, 2019 · 7 min read
Adventurers Wanted!
Reward Offered!
Come on in and sit down!
Are you here for the quest?
I mean, of course you are. With the offer of fame and glory, who wouldn’t be here? But wait, there is more… There is gold too!
Now go! Do this for me, and when you return, I will pay you.
Side Quest Reality Check
Whether you call it side hustling, your second gig, or questing on the side, earning extra income on the side is a great way to start down the path of financial freedom.
However, unlike side questing in your favorite game, there are no NPCs in real life waiting to give you a side quest to earn that extra income.
No, in reality you have to make your own side quests. Be your own NPC and seek out others that are in need of your services and are willing to pay for them.
What is Side Questing?
Unlike the traditional main quest, your typical full-time job, side questing is generating income by providing a service or making products over and above your normal 9-to-5 job.
Typically, an adventurer would embark on a side quest as a freelancer, fueled by a personal passion. Often, our day jobs don’t fulfill an inner calling and having a side hustle does.
On the other hand, I don’t think a part-time job counts as a side hustle. A true side quest is one that you are the boss of, and the income you earn is determined by your own effort.
Consequently, the more effort you put into the side hustle, the more income you are likely to make.
Why have a Side Quest?
Firstly, having a side quest should not be like having a job. This is your opportunity to make money while having fun. I’m not saying your traditional job cannot be fun, but your side gigs should be fun.
Secondly, your side quest should bring in extra income. Whether you need extra income to save for an emergency fund or get that new gaming system, the additional income can help in many ways.
However, as an aside, if financial freedom is the ultimate quest, investing the extra income before buying a new gaming system would help.
Having that extra cash each month could help pay down some debt, start a savings fund, or grow an investment portfolio.
Above all, your side quest may one day become your main income stream, and being able to do it on the side will allow you to test the waters and get the experience you may need in working for yourself.
Why Do You Need A Side Quest?
Adventurers, we know why we should have a side quest, but how about why we would need a side hustle?
- Stagnation in wages and rising inflation. The 9-to-5 income many of us rely on is very slow to increase, if at all. In addition, that average yearly increase of 3% is barely keeping up with inflation. Which means that while the prices of basic commodities keep rising, our income remains the same.
- The more income streams the better. Imagine dedicating all your energies to a single source of income and then all of a sudden, you lose your job and have nowhere to turn. Even if you were lucky enough to have saved some money in an emergency fund, the resulting shock is enough to throw you off balance. We cannot forget that job losses are often sudden and unexpected. Instead of waiting for such unpleasant surprises, you could diversify your income streams and have more than one source of income.
- You like the idea of independence. This reason applies to those Adventurers who like the idea of being the boss. A side hustle offers you an opportunity to exercise independence. All major managerial and operational decisions of your work rest with you. This total sense of independence may be a double-edged sword. However, for those who understand how to leverage it, it can work wonders in taking your side hustles to new heights.
- Never stop learning. Our regular jobs come with a job description and put us in a box. As such, there are people to answer to, deadlines to meet and rules within which you must work. These can all limit your ability to learn more. When you operate in a confined environment, you cannot freely think outside the box. However, having your own side quest will allow you to try new things and learn skills that you may never have had the opportunity to learn.
- A chance to explore your passions. We all have those activities we wish we could be doing instead of work. Whether it is graphic design, writing a book, teaching online, or whatever else you love, a side quest could enable you to do more of it. Very few people manage to land their dream jobs, so a side hustle will enable you to explore such hobbies and become a more fulfilled person. And to top it all off, the added income makes it that much better.
Benefits of Side Questing
Let’s be honest, we all have something we love to do and wish we could do it every day.
But the thought of quitting your day job tomorrow to pursue a passion project probably makes you feel sick… I know it does me.
However, being able to do it on the side, just as I did with my personal finance blog, gives you the opportunity to work on it, all while still being able to pay the bills.
Additionally, the freedom of being able to work when you want or as much as you want only adds to the experience. Typically, side hustlers are solopreneurs, and being able to call all the shots gives you an extra sense of pride and freedom.
Moreover, starting a side quest often requires very little to no financial investment to get started, and could turn out to be the best investment you ever make. Plus, several side gigs don’t require any additional education to get started.
In short, with low barriers to entry and little financial requirement to start a side quest to earn extra income, doing it seems like a no-brainer. Right?
Well, before you jump right into making your passion a side hustle, consider the drawbacks as well.
Drawbacks of Side Questing
Firstly, ask yourself: “Do I want to turn my passion into a job?” Because you may love painting miniatures in your free time, but painting miniatures for someone else on a deadline may not be as much fun.
So, always consider what it means to be doing work for someone else. You will be giving up your free time to do the work, which could mean that you are working 8 hours a day, plus the side hustle time.
You need to know yourself and your limits. Going from your day job to painting miniatures late into the night could start to affect your health. Not to mention the toll on your social life and day job.
It is not worth losing your day job over a side hustle that will not support you. So, start slowly and understand what is required of you to do the work and be successful.
Best Practices for Side Questing
So, the benefits of having a side hustle outweigh the drawbacks? That is awesome to hear! Now what? Well, before getting started, there are a few things you should consider:
- Firstly, conflicts of interest.
- This is important to know because many companies have policies against employees working on similar side projects outside of the company.
- Your HR department or employee handbook should be able to answer that question for you.
- Secondly, know your limits.
- Having a side hustle will take up your free time, and as said above, you may need your free time to recharge at the end of every day.
- So, start slow and evaluate what it is costing you to take on each new side gig.
- Thirdly, what is your time worth?
- This one is difficult to answer. The point of a side quest is to earn extra income, but how much extra income is always a tricky question.
- The payment needs to be worth your time and effort, but it can be hard to find any clients if your prices are unreasonable.
- When I take on a side gig, I ask myself how much extra value I will be adding for the work I do. That way, when I present a quote that seems high, I am able to justify it with the fact that my work will add X amount of value to the client.
- Finally, think about the future.
- There is always the possibility that your side quest becomes your main quest. If you enjoy what you do, and are able to generate enough cash to support yourself, then why not!
- That being said, start with the end in mind, and always put your best work forward.
Side Quest Success = Extra Income
In closing, your side quests are your own. Your success and profitability are all dependent on you. How much time and effort you are willing to put into what you do will determine the outcome. However, also remember that questing should bring you closer to your ultimate goals and life fulfillment.
Always remember to have fun and do it for the right reasons, for the possibilities are limitless.
Now it is time to go out and start your own side quest to earn extra income! Have no idea where to start? BiggerPockets has a list of side hustle ideas to get you thinking.
