With the rapid rise in inflation and the consequential rise in interest rates, we are all feeling the pressure of the cost of living and are struggling to get through the month. 

If you are on a payroll, it becomes very difficult because income is limited and expenses are rising rapidly. It’s much like trying to fill up a bath with the tap on and the plug out. A way to improve the water level is to open another tap increasing your income – enter the side hustle. 

Some pointers…..

The purpose of your side hustle should aim to help solve problems? 

The objective is to make a profit.

People pay for value. So what value do you add?

Can you use your skills?  

So if you are a teacher there is an opportunity to provide extra lessons to children who are not coping at school. They need your help to solve their problem (your purpose) and you will make a profit as result (your objective). Whilst this is an obvious start there are many other opportunities found on the web:

15 Best Side Hustles in South Africa

• Laundry Services. If you’ve got the space and equipment, starting a laundry business can be pretty simple. …
• Car Wash. Washing cars has always been a popular way to make some extra cash. …
• Babysitting. …
• House Sitting. …
• Hair and Beauty. …
• Airbnb. …
• Personal Trainer. …
• Catering and Baking.

Then there are numerous web based opportunities found on Google.

Keep to the plan

Your way out of any financial trap is to limit expenses and increase income.Your side hustle should put you in a position where you can payoff your debt, firstly, and then start to save the extra you are making as well as the cost savings. It will be a lengthy process depending on how deep you are in debt. However, if you stick to the plan it is only a matter of time before you are on the road to financial freedom.