Hustle Hard or Hardly Hustling? The Path to Extra Cash

The modern financial landscape demands creative thinking beyond the traditional paycheck. As we explore the nuanced differences between side hustles and passive income, we uncover that while many use these terms interchangeably, they represent fundamentally different approaches to building wealth.

Side hustles demand your ongoing time and active participation—freelance writing, graphic design, rideshare driving, or selling handcrafted products. They generate immediate income but require continuous work. Contrast this with passive income streams that function with minimal intervention after initial setup—rental properties, digital products, investments, or dropshipping businesses. The magic of passive income lies in its ability to generate revenue while you sleep, creating financial freedom with less day-to-day involvement.

What's fascinating is how both paths can transform your financial reality, and how often they begin as simple hobbies that unexpectedly evolve into income streams. Whether you're actively trading time for money or building systems that work for you, both approaches have merit depending on your resources, lifestyle, and goals. The accessibility of information and resources today makes these financial strategies more attainable than ever before. What hobby might become your next income stream? Share your experiences with side hustles or passive income, and join us for a potential follow-up episode where we dive deeper into these wealth-building strategies.

Send us a text

Support the show

Episode Transcript

Speaker 1 (00:00):
Hello world, welcome back to Not Just Candle Talk.
Today we're diving into theworld of side hustle versus
passive income.
Many people use these termsinterchangeably.
Right, but are they really thesame or do they serve a
different financial goal?
By the end of this episode wewill have a little clarity.

(00:25):
Hopefully we're going to givesome examples of both and see
you know where they're at.
Are they different?
The same?
So let's let's get into it.
All right, by definition, let'sgo into side hustle first.
By definition, a side hustle isan active way to earn extra

(00:46):
income outside of your main job.
Ok, it requires ongoing effortand time invested.
Examples of some side hustles afew side hustles freelance
writing, graphic design,becoming a virtual assistant,
ride share driving that could bea side hustle.

(01:08):
Selling products, t-shirts,candles, those things.
Even having an Etsy accountthat could be a side hustle.
Social media management andcontent creation Some people do
that as a side hustle.
House cleaning, some of thoseservices or things like that can

(01:31):
become a side hustle.
It can generate a good incomeas well.
But they demand continuous work.
Right, you got to be there, yougot to be invested.
But those are just a fewexamples of the side hustle and,
like I said they are.
They're great ways to generateincome.

(01:55):
Let's talk about passive incomereal quick.
By definition, passive incomeis money earned with minimum
ongoing effort After the initialsetup.
It often requires upfrontinvestment in time, money or
both.
Examples of a few passiveincomes are Having a rental

(02:19):
property, earning rent from yourtenant that could be a passive
income.
Creating digital products Ifyou're a creator, if you are a
writer, you can write eBooks,online courses, you can do
photography that could bepassive income.
Or actually, you know,photography could be a hobby.

(02:41):
I mean, photography could be ahobby.
I mean, I'm sorry, a hobby or aside hustle.
Affiliate marketing you canearn commission from referrals.
Investing in stocks, stocks,bonds, buying CDs that could be

(03:05):
a form of passive income.
And, of course, everybody knowsabout having your own website
and doing drop shipping or printon demand products.
That could be passive income.
It takes time to build withpassive income, but you can
generate a good amount of moneyand it doesn't require you to be
actively working.
You can make money while yousleep and I like that's a good

(03:29):
thing.
So Are they?
Are they the same?
Are they different?
Are they the same?
I guess it depends on whereyou're at in your life and your
and your needs financially.
Both can create a way, anavenue, for financial freedom,
of course, if that's, if that'sa thing that that that you think

(03:54):
you can accomplish, that youthink you can accomplish.
Both requires work, right?
Both require some type of yourattention.
Both can supplement your mainincome and help build wealth
over time.
And I guess, like I said before,like a lot of hobbies, can turn

(04:17):
into either or, right, you know, sometimes you might have a
hobby and you're not eventhinking about making making any
money.
It's something that you enjoydoing and before you know it,
you know someone sees it orhears about it.
They say, hey, you know howmuch you charge.
Or, you know, have you everthought about doing this?
You know to make income.

(04:38):
And next thing, you know youhave either or side hustle or
passive income.
And you know, everybody's notabout neither.
Some people, they just say Ijust want my paycheck and I'm
fine.
But I think, in today'seconomical world that we're in,

(04:59):
I think it's something thatpeople give thought to, because
a lot of people say, hey, thisis doable, it's doable.
You know, a lot of times, years, years before, sometimes things
were not as doable, or wethought that was the fact, that
was the case.
I can't do it because I can't.
You know, I don't have any, Idon't have an avenue to get to,

(05:19):
uh, um, the resources for that,those things.
But now you know it's, it's,it's a common thing, now it's
talked about and and shared andviewed um, everywhere you look
and go.
Um, so for me, uh, I've doneboth.
Like I said, I'm one of thepeople that, for me, is

(05:45):
interchangeable.
I've done both and it works outfor me.
I've done it since thebeginning of time when I started
actually making money.
I have always beenuncomfortable with whatever I
was doing, so I had got out mycomfort zone and, hey, let me
try this, let me try that, butholding on to my main source of

(06:07):
income as well.
And you know it works, it works, it really does.
Whatever, like I said, whereveryou at in your life, um and
what you, what you have going onis is is, uh, it's a, it's a
good thing, it's never a badthing.
Um.
So this one is just a quickoverview because it's not too

(06:28):
much to talk about so muchinformation about these two
topics.
Side hustle is me, it's not,it's not a.
It's really not a versus.
It's what you can do whereyou're at and your resources,
and if you're goal-oriented.
Not everybody is, and that'sfine.

(06:50):
But I just want to touch on itreal quick.
Drop a few examples.
I know a lot of people still tothis day, a lot of people who
don't know where to go to start,right.
But you know, sometimes they'rejust doing something as, like I
said, as a hobby and notrealizing that they can actually
make money from it.

(07:11):
Send your kids to college orwhatever, I don't know.
But, like I said, I just wantto touch on it real quick.
If anybody have any thoughts,share your thoughts.
What's your favorite ways tomake extra money?
I will do a part two if anybodywant to come on and share where
they're at and, and just youknow, have a discussion about

(07:35):
verses or one or the other.
Always as always, thank you forlistening and I'll catch you on
the other end.
Bye.