How to make a side hustle work for you – what you need to know about taxes, budgets and marketing
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A side hustle can be a good way to earn extra income while also helping you upskill and be your own boss. Household bills are set to rise in 2025 with higher gas and electricity costs and rising taxes. This may make the new year the ideal time to start a side hustle to boost your income.
A side hustle is a way of earning extra income in your spare time. This could be by selling items online or using your existing skills such as creative writing or crafts. It can also be a good way of earning passive income, such as renting out a room or space on your driveway. After the initial setup, you could start receiving regular payments on a monthly basis with little effort.
A side hustle can use your hobbies to supplement your income and if you earn enough money, it could one day even replace your full-time job. It can also add variety and freshness to your routine, especially if it’s different from your day-to-day job.
Andrew Procter, chartered accountant and director at Tyrell Procter, says: “It can potentially enhance your physical and mental well-being – for example, dog walking combines exercise with a sense of purpose.”. Emma Jones, founder of small business support platform and membership community Enterprise Nation, explains that starting a side hustle gives you the freedom to test a market without taking on investment.
It can also give you an insight into the cut and thrust of running your own enterprise, while you have the security of a salary coming in, she adds. “One of the things that often holds people back from starting a business is the anxiety around giving up a day job.
