The Psychology Of Side Hustles

Side hustles are a popular and effective way to make some extra money for people. From what was once seen as merely a means to supplement one’s income has evolved into a must have for success. Why is that though?

Ever wondered if the psychology of doing side hustles can help people gain more access to tools for personal development and improve overall well-being? So in this article, we will explore the psychology behind side hustles and how they can contribute to an individual’s sense of fulfillment and happiness.

The Popularity Of Side Hustles

The rise of side hustles can be attributed to a number of things, but the increasing difficulty of obtaining entry level positions, economic uncertainty and rising living costs have been the main focal points to this rise. As a result, technological advancements have made it easier than ever before to start and manage a side hustle, and even easier to expand thanks to online platforms and social media.

With the growing emphasis of the work-life balance shifting towards extra work in order to make ends meet, this has led people to pursue side hustles that are either creative by design or simply different from what they are used to. As a result, this leads people to experience different things in their day-to-day and are actually serving as a form of personal development.

Personal Growth & Development

Side hustles often involve stepping out of one’s comfort zone and acquiring new skills or knowledge. According to Carol Dweck’s Theory of Personal Mindsets, people who become accustomed to a ‘growth mindset’ often engage in challenging activities that promote learning and development.

By embracing the belief that our abilities can be developed through effort and practice, people who work side hustles are more likely to pursue and succeed in ways they haven't thought of. This can either come in the form of a sense of mastery, self-efficacy, or even the realization of how much extra money they made after a week or two.

Despite whatever hardships people might face during their side hustles, by simply working a new part-time job, people can create opportunities of growth and development that can not only enhances their personal well-being, but can positively influence other areas of life, leading to increased levels of confidence and resilience.

The Chance To Pursue Your Passion

Another primary psychological benefit of working side hustles is that they get a sense of fulfillment from that work. Self-Determination Theory suggests that people have an inherent need for autonomy, competency, and relatedness.

By engaging in side hustles that align with one’s personal interests and values, it can actually satisfy these psychological needs, leading to signs of increased intrinsic motivation, an improved well-being, and a general feeling of satisfaction.

Whether if you are pursuing a passion of cooking, mixology, delivery, or hospitality, working side hustles that you have an interest in allows you to experience a sense of “flow” which is described as a state of deep engagement and enjoyment.

Being in a continuous “flow state” can contribute to positive psychological states and optimal functioning, because if you don’t mind the work then time is literally going to fly by and you won’t experience that dreaded ‘Omg, I still have X hours left!’

The Feeling Of Autonomy

One of the most common things that side hustlers experience is a sense of autonomy and control over one’s time. Just having the freedom to spend your energy and creativity productively can actually be really beneficial in ways you didn’t expect. By pursuing side hustles, people can exercise autonomy by setting their own goals, making their own decisions, and manage how their work gets done.

This sense of autonomy not only enhances intrinsic motivation and satisfaction, but it also reduces stress levels, and promotes a greater sense of a work-life balance. For anyone who has been micromanaged by a supervisor before will understand how annoying and unproductive it can get. So the ability to manage your workflow during your side hustles can lead to an improved well-being.

Networking & Connecting

Working a side hustle can bring a lot of great things, but the chance to network and connect with people can do wonders psychologically speaking. By working with other like minded individuals, you have access to a group of coworkers who understand your goals and will, within reason, help you achieve those goals.

Social Identity Theory suggests that people derive a sense of identity and belonging through their connections with social groups. So by engaging in side hustles that has you working with people, it will provide you opportunities to network and gain information that you couldn’t have accessed before.

The importance of these connections are crucial as they can offer social support, collaboration, and even provide a sense of community when you are struggling. This can eventually lead to positive social interactions where you can grow your social circle, reduce any feelings of loneliness, and improve your overall psychological resilience.

The Feeling Of Financial Security

While the psychological benefits of side hustles extend beyond financial gains, the economic aspect still remains a crucial factor. Its no secret that being financially unstable can bring in a whole range of problems as it doesn’t offer a lot of room for financial mistakes.

The amount of stress of being financially unstable can really make or break people and their ability to save for the future. However, if your side hustle is bringing you enough money where you can start saving and splurging every now then, it actually lifts a weight off your shoulders in a way that should feel liberating.

Not stressing out about bills and having enough in your bank account to cover any sudden damages, accidents, and injuries is a safe feeling that allows to still feel motivated. Just by seeing your progress and a gradual upward trajectory in your bank account can really uplift your mood and just do wonders on your mental health.

Do You Side Hustlers Get It Now?

The psychology behind side hustles reveals the immense potential for personal growth, fulfillment, and an enhanced well-being. Side hustles not only provide an avenue for creativity and skill development but also contribute to a healthier work-life balance. By embracing the power of side hustles, people can unlock their full potential and lead more fulfilling lives, both personally and professionally.

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