Side hustle | blog.firstffcu.com

Side hustles existed long before the COVID-19 pandemic, typically born out of a need to supplement income as opposed to pursue a passion that previously felt out of reach. Before the emergence of rideshare or grocery delivery platforms, one might have supplemented their income by reselling used items at a garage sale or offering their lawnmowing or pool cleaning services to a small circle of friends or neighbors. The pandemic, coinciding with the growth of platform-centered businesses, created the perfect storm needed to not only propel side hustles back into the spotlight – but shine them in a new light. Not only could you pursue something you are genuinely passionate about, you could also make some money doing it. Although the pandemic is thankfully behind us, one thing remains certain — side hustles are here to stay, and they look much different than ever before.

What is a Side Hustle?

A side hustle is generally viewed as a means of generating extra income outside of your primary job. However, a more modern definition suggests that in addition to that – a side hustle provides flexibility and the pursuit of personal passions. For some, flexibility and pursuit of passion might be immeasurable in comparison to supplementary income — causing side hustles to be pursued out of choice rather than necessity.

And Why are They so Popular?

Many factors have come into play to increase the popularity of side hustles among the general population, such as:

Digital Economy and Technological Growth: The definition of digital economy is constantly evolving, but generally refers to humans and technology working together to generate business. For example, ridesharing apps like Uber or Lyft have created a market of people willing to provide an on-demand car service to consumers and becoming connected via an app.
Generational and Attitude Shifts: Young workers such as those in Gen Z, are one of the few generations that have increasingly experienced an entirely remote or hybrid school and work environment. Additionally, due to recent economic conditions – many young workers have been faced with a difficult introduction to the job market and have been turning to dynamic workplaces to meet their needs. Lastly, younger generations especially tend to put a greater emphasis on well-being and mental health, which might be better afforded by a side hustle if done the right way.
Cost of Living: Let’s face it — living is more expensive than ever before. Especially for those living paycheck to paycheck, a side hustle might be an attractive option to bridge the gap between saving for what you need and saving for what you really want.
Identity Builder: Side hustles can act like a tattoo of sorts — offering onlookers an insight into one’s interests and passions. It’s a great conversation starter, too.

2025’s Most Popular Side Hustles

The rapidly growing and advancing of technology and digitization has created many opportunities for individuals looking to bring their passions to the right market. Here are some popular side hustles worth considering if you have skills or passions you’re looking to capitalize on in the new year:

Freelancing: Freelancing refers to offering your work or services on a per-job or per-task basis, allowing you to potentially work on multiple projects for multiple clients. Whether you have a knack for writing or a passion for computer code, there could be someone out there requiring your services. Some popular platforms to connect freelancers with clients are Freelancer and Upwork.
Platform-Based: There has been a rise in platforms that connect consumers with people offering on-demand services, such as Uber or Lyft for ride sharing, DoorDash or GrubHub for food delivery, and Instacart for grocery transport. There’s even a platform called Rover for those animal-lovers who want to pet sit or walk for fun, and earn a little money while doing it. These platforms afford you flexibility when you work by allowing you to create your own schedule. If providing goods to people is more your thing — Etsy and eBay are platforms that allow you to sell various new, used, or handcrafted items to people around the globe.
Content Creation: Many individuals have created a side hustle out of posting relatable content on various digital platforms. You have to find your niche — what type of content you would like to provide your potential audience with. Whether you would like to post relatable content about your family or relationship, or tell the world all the fun facts you have up your sleeve, someone might want to watch your content and certain platforms will pay you to post it. Creating content can help you form partnerships with your favorite brands, too — if they want you to represent their product or service.
Affiliate Marketing: Affiliate marketing typically refers to content creators and brands working together to promote products or services. These brands gain access to a representative who promotes their product or service to an audience of people willing to listen. An individual can get paid for affiliate marketing in various ways, one of which is when you refer a member of your audience to the brand you are promoting and it leads to a sale. There are many affiliate programs out there — you just have to do your research and make sure it’s right for you!

First Financial is here to help if you are looking to take your passion-project turned side hustle to the next level. Whether you’re looking to start with the basics, or your business has become more established over the years and you’d like to learn more about financing with a Business Loan – we’re here to support your business every step of the way. If you’re ready to take the next step, don’t hesitate to contact business@firstffcu.com, visit us at a local branch, or call 732.312.1500.

The process of finding financial security has gone through some dramatic changes over the last few decades. As recently as the 1980’s, conventional wisdom suggested following a career path that went something like this: Go to school. Get a good job. Work for one company for 20 years or more. Collect a pension. Retire in relative comfort.

If that approach sounds completely foreign to you, you’re not alone. On his personal finance blog, 20SomethingFinance, G.E. Miller observed, “Most twenty-somethings have never and (unfortunately) probably will never sniff the sweet security provided by a pension plan.” So, if there’s almost no hope of finding financial stability by following same path as previous generations, how can set yourself up for success? Two words: Side. Hustle.

What Does “Side Hustle” Really Mean?

With more and more people realizing that working a single job leaves them living paycheck to paycheck, side hustles are experiencing a considerable spike in popularity. Since we’ve already used the phrase twice in this article, you may be wondering exactly what constitutes a side hustle. Is it a second job? An online business? In his new book (conveniently titled Side Hustle), Chris Guillebeau provides some much needed clarity. “A side hustle is not a part-time job. It is an asset that works for you.” This definition reveals a crucial distinction between trading hours for dollars, and building something that pays dividends for years to come.

Side Job vs. Side Hustle

Thanks to a surging economy and advances in technology, finding a side job is easier than ever. From Etsy to barista gigs and seasonal retail, potential work opportunities are plentiful. But if Guillebeau is right, the additional income you can earn from these jobs might not give you the long-term security you want. So, are they even worth pursuing? Do they offer any asset-building benefits? Absolutely. You just have to adjust your motivation for doing the work.

Rather than focusing on the job itself or the hourly wage it provides, entrepreneur Jeremiah Dew recommends looking a little deeper. “Find an endeavor that makes you become a better person—something that requires you to build a skill set that will help you in future ventures as well.” Sell crafts on Etsy in order to get better at e-commerce and digital marketing. Become an Airbnb host to upgrade your customer service skills. You get the point.

Success Requires a Different Perspective

When you’re trying to earn additional income, it can be tempting to jump at the first opportunity that offers real money. And while a traditional side job isn’t necessarily a bad thing, be careful not to confuse it with a legitimate side hustle. You may be able to earn extra money, but if your income is still tied to your ability to show up and perform a specific set of tasks, you’re not developing an asset. However, if you utilize those opportunities to gain experience and lessons that transcend a specific job or industry, you may be on your way to developing a successful, sustainable side hustle.

You Won’t Win Alone

Now, before you rush out and start a supplemental career, it’s important to remember the value of a good mentor. As the old saying goes, “A smart person learns from his mistakes. A wise person learns from the mistakes of others.” If you’re going to be wise about building your business, it pays to develop a relationship with someone who has experience running a business of their own, someone who made mistakes you can learn from. Whether you find them yourself or ask for suggestions from people you trust, the impact of a business mentor can be priceless.

From a financial standpoint, business ownership requires money management skills you won’t learn as an employee. Fortunately, your local credit union is an outstanding resource where you can find the knowledge, expertise, and programs to help you navigate the often-confusing early stages of your side hustle. By relying on their services and recommendations, you’ll be able to sidestep potential pitfalls and put yourself in a position to succeed. To learn more about the Business Services at First Financial, click here.