Flow Chart: Should You Start a Side Hustle?


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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Zach is the author behind Four Pillar Freedom, a blog that teaches you how to build wealth and gain freedom in life.

Zach's favorite free financial tool he's been using since 2015 to manage his net worth is Personal Capital. Each month he uses their free Investment Checkup tool and Retirement Planner to track his investments and ensure that he's on the fast track to financial freedom.

His favorite investment platform is M1 Finance, a site that allows him to build a custom portfolio of stocks for free, has no trading or maintenance fees, and even allows him to set up automated target-allocated investments.

His favorite way to save money each month on his recurring bills is by using Trim, a free financial app that negotiates lower cable, internet, and phone bills with any provider on your behalf.

His favorite micro-investing app is Acorns, a free financial app that takes just 5 minutes to set up and allows you to invest your spare change in a diversified portfolio.

His favorite place to find new personal finance articles to read is Collecting Wisdom, a site that collects the best personal finance articles floating around the web on a daily basis.


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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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