Side Hustling During the Plague: Your Top Five Concerns
That was a joke. We’ve already established COVID-19 is not the plague. We’ve also established that a side hustle during coronavirus can be exactly what you need to help tide you over; that is, as long as certain conditions are met. There are so many side hustles you can try your hand at that bring in a lot of help; in fact, my own side hustle work in 2016 paid for all of my expenses outside of rent. Earning an extra $200 per week will earn you five figures in one year. The younger you are, the more value that money has as an enviable investment tool. If you’re still working on getting a higher income, those five figures can also be a lifeline to prevent debt and struggle.
Which is all well and good when times are well.
2020 is not one of those times.
If we’re talking strictly finances, all of my investments took a hit. At its worst I saw a loss of $40,000 in my brokerage investing alone. It’s gone up since then to push me back to six figures, but who knows when it’ll dip again?
And seeing that kind of drop was actually the most mild thing that could’ve happened to me. I’m not one of the half-million Americans infected with coronavirus (or, if I am, I’m at least asymptomatic). I’m also not one of the millions that are now unemployed thanks to the crisis. The New York Times pegs the new unemployment rate at 13% – even worse than the 2008 rate at its peak (10.2%). In between these new realities are shuttered educations, struggling parents, scores of cancellations, and way too many folks newly afraid and stressed out.
With our shelter-in-place and isolation measures, I expect the average American will seriously consider taking on a side hustle during coronavirus. If you’re already hanging around at home with nothing to do, why not keep yourself occupied and feeling productive? Why not distract yourself from the chilling news cycle with some new busy work? This is doubly true for those who are now out of work; in their case it’s not a “side” hustle, but a path to regaining some kind of steady income.
If you want to get a side hustle up and running today? It’s a little more complicated than it was six months ago.
Are you able to actually get one?
First things first: are you able to secure extra work at all? So far the consensus from my smarter friends is “yes… but your options have narrowed”.
Let me highlight an above number again: thirteen percent unemployment rate. Let me highlight a non-number as well: the amount of people in America who are currently, or will be, infected. Less than one percent of the US has actually been tested, according to the numbers from John Hopkins. Until a vaccine can be manufactured and distributed, we’re looking at more grief and interruption in the interim.
All of these unknowns have dealt their blows to several companies and businesses. Corporations are looking to cut costs, which translate to lowering the amount of work freelancers get. Anyone who works on a project-by-project basis – or in close physical contact with others, like hair or nail stylists – will be feeling the sting of lesser pay… if there’s any pay at all. For a side hustle during coronavirus that you can do from the comfort of your home (ghostwriting, design, or digital work, etc) you’re going to see a lot more competition for the evaporating job offers than ever before.
As others will point out, you can definitely take on work when you have the skill to fulfill a demand. Difference is, not everyone has the skills right now to get the best side hustle work. The jobs that don’t require specialized skills could be those that put your health at risk. More and more grocery store workers, who are just as essential as healthcare workers, are falling sick and not receiving near enough compensation for their efforts.
Don’t let this distract you from getting a high pay job
I want you to reach the best financial position possible. When you’re in your 20s, the best way to get there is by securing a high-paying job and invest as much as you can. Not even a second pandemic like this one can kill your momentum after reaching that. It also helps inoculate you from the worst-case scenarios when you have cushy work and a big nest egg to fall back on.
As much good as side hustles can do, they can also become monumental distractions. Every hour you spend at your side hustle during coronavirus is an hour spent away from your loved ones, away from unwinding from life’s constant stressors. They can accelerate your feelings of burnout and fatigue, making you feel worse despite the extra in your pocket. You’ll need some top-notch time management and prioritization skills to make a successful side hustle, which requires dedication you might not have the mental energy for right now.
If this in any way disrupts your main source of income, it’s not worth it. That also includes disrupting your career path or climb to a better job situation.
Don’t let the fearmongering pay you less than you deserve, either
One of my biggest economic worries is that this will cause a race to the bottom for blue-collar pay. I’d be an idiot or deliberately malicious (or both) if I ignored the realities of the working class struggle. Yes, the social contract requires that you work if you ever want to gain wealth. In its current form, it also allows for rampant oppression from the highest echelons of society looking to line their pockets at your expense. There are not enough influential people vying for socio-economic equality, and the most vulnerable among us are paying the price.
With COVID-19, these vulnerable are now the most negatively impacted group. If you are part of this group, your first thoughts are over clutching any opportunity that comes your way and never letting go. As backwards as it feels to not do that, I’m telling you to not discount your work when demand for it slows. Once you accept lower wages, it’s a lot harder to claw back up to what you were making before, even when the economy is back to smooth-sailing. You’re worth more than that and you should remain steadfast in getting it.
This could severely impact your unemployment pay
The most common unemployment payout I see is $600 a week. That’s the equivalent of $15 an hour working a full-time job, which is MORE THAN DOUBLE the federal minimum wage. That payout is only given if you do not find other work, regardless of what that work pays. If you find a job that will pay you $10 an hour, you’re not only getting a worse deal but you’re also going to get your unemployment pay garnished.
That’s right, our payment laws are so outdated and shitty that you could be better off not working at all than just a little!! This is so psychologically disheartening for most people who need that money to survive, like the world would rather you not contribute at all than to try. It’s another disgusting example of systemic failure that we need to address on a much higher level. For your needs, you really need to weigh what is truly best for you in the long run.
This could be a blessing in disguise
I’ll be honest: when I thought about writing this post I was convinced this would look a lot gloomier. Come on, SEVERAL MILLION PEOPLE are either sick, have lost their jobs, or forced to expose themselves to COVID-19 as an essential worker. Wouldn’t the candidate pool for freelance work freaking SKYROCKET after this? Hell, if I lost my job or feared for my health and safety, you best believe I’d be taking on those gigs.
I actually asked about 200 people on Twitter what their take was on it.
Almost half of the responses were that no, advising someone to start a side hustle during coronavirus isn’t good advice in the current economic landscape. I imagine these folks fall exactly in line with my capitalized thoughts above. What surprised me were the folks who took the time to explain why side hustles were still tenable – even with thousands of small (and big) business shutdowns. Head over to to Stop Ironing Shirts to see this in action – he just told me he and his wife made almost $400 in one day’s work with Instacart. And that’s after quitting early due to inclement weather!
If you’ve already got a side hustle going, good. If you plan to start one up, there’s some vast potential. Suddenly you now have the time to test the waters as a freelancer or entrepreneur. You might find your next big thing and make more money than any other job you’ve had.
Hey, I hear demands for plague doctor masks are on the rise.
What’s your take on work in the time of corona?
Nice use of the plague doctor costume image! Yes!!
But seriously though, I think I agree with everything you said. Except I think that there should be more emphasis warning people about sharks. Lots of people out there are advertising “side hustle income” where the first step is buying their course or paying a membership fee. And anecdotally, I think these hucksters are doing great business with tons of desperate people out there.
So there’s a difference between actually side-hustling when you have a plan and know what you’re doing and grasping at straws. Frankly, I’m inclined to advise against the side-hustling because I think most people who want to start a hustle in the time of the plague will lose money in the short term (or just plain lose money) that they might be able to afford to lose.
I added that just for you!!
And oh god, you’re right about the hucksters; I was almost caught up in a couple of them after I graduated. Thanks for that needed add.