Smart Money Podcast: “What’s a Side Hustle and Should I Start One?”

Teddy Nykiel
By Teddy Nykiel 
Edited by Kathy Hinson

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

This week, hosts Sean and Dayana talk side hustles — what they are, whether they're worth it and how to spot scams. NerdWallet reporter Laura McMullen joins the discussion.

Takeaway tips

Consider the following when you're deciding whether a side hustle makes sense for you:

  • Is the work enjoyable or fulfilling?

  • Do you have talent or time you can monetize?

  • Is it financially worth your time? Calculate the side hustle's hourly wage. Don't sell yourself short.

Spot side-hustle scams: Watch out for companies that ask for your credit card or bank account information upfront, or advertise that they offer exclusive access to government job listings. Most of all, trust your gut.

Research the company's reputation: Find out how it makes money, and look for reviews or complaints from others who have worked there.

Consider asking for a raise instead: If you're looking to earn more money, you may be able to get there by negotiating higher pay with your current employer.

More about bringing in a little extra cash

Send us your questions! Email us at [email protected]. You can also text or leave us a voice message at 901-730-6373 (that's 901-730-NERD).