💰 Why You Need a Second Income

And how to start one (even if you don't have time).

Author

The Money Edition
May 06, 2025 • Estimated Reading Time: 6 minutes

🌟 Hy There!
Life's costs keep climbing, and job security can feel shaky these days.
That's why a second income isn't just "nice to have" anymore — it's becoming essential.
Recent global surveys indicate that side hustles have surged worldwide, with millions turning to extra sources of income. In fact, around 1 in 3 working individuals globally are now engaged in a side hustle.
Whether it's to beat inflation, build wealth, or prepare for uncertainty, a second income acts like a financial "seatbelt."
In this issue, we'll dive into why you need a second income, clear up some myths, and explore practical ways to get started. 👇

🚨 Why a Second Income Is Crucial Today

We’re seeing a perfect storm that makes a second income necessary:

  • Rising Costs: 49% of side hustlers say inflation pushed them to start a side gig.

  • Job Insecurity: 1 in 5 workers fear layoffs this year.( Prime example being- Twitter& Air India)

  • Building Wealth: Extra income fuels faster debt payoff, bigger savings, and future freedom.

🧠 As Dave Ramsey's team puts it:
"Having as many rivers (income streams) as possible flowing into your lake (savings) protects you when one dries up."

🚨 Common Misconceptions About Side Incomes

  • "It's just hobby money."
    ➔ Not true — many earn an average of $1,215 or Rs.15,000 per month from side gigs.

  • "I need a ton of time or cash."
    ➔ You can start small, even with just a smartphone and a few spare hours.

  • "If it works, I'll quit my job immediately."
    ➔ Most people wait until their side gig earns at least 75% of their main salary before making big moves.

  • "Only techies can do this."
    ➔ Nope. From pet sitting to tutoring to selling crafts — there's something for everyone.

🚨 Second Income Ideas (for Professionals, Students, and Everyone)

  • Freelancing/Consulting: Use your skills on platforms like Upwork, Fiverr, or LinkedIn.

  • Rental Income: Try renting out extra space or properties that you have (if you have any).

  • Online Business/E-commerce: Sell crafts on Etsy, start dropshipping, or create digital products.

  • Investing/Passive Income: Start small with dividend stocks or REITs to grow money over time.

  • Tutoring/Teaching: Offer lessons in math, music, language — either locally or online.

  • Local Services: Pet sitting, house cleaning, photography, lawn care — low-cost starts, high demand.

👉 The key is to match your idea with your lifestyle and strengths.

🚨 How to Get Started (Even If You're Busy)

  • Schedule Your Time: Block 15–60 min/day.
    Consistency > Intensity.

  • Learn & Skill Up: Free/cheap platforms like Coursera, Udemy, or YouTube are your best friends.

  • Pick Your Platform: Choose marketplaces that fit your hustle (freelance sites, Etsy, Amazon, etc.).

  • Start Small: Validate your idea before investing big.

  • Stay Flexible: Be ready to pivot if needed.
    Progress over perfection

🌎 In the News: Second Incomes Are Now the Norm

📰 In January 2025, The Washington Post reported:
"5.3% of U.S. workers now hold two or more jobs — the highest since 2019."

Rising prices and a strong job market are fueling this trend.
Economist Dean Baker notes it's partly "pro-cyclical" (good economy = more gigs) and partly driven by necessity.

👉 Bottom line? Side incomes are officially mainstream.

🧑‍💼 Expert View: Build Smart, Not Fast

🧠 "Side hustles can be a profitable stream of income, but they require workers to have a solid financial foundation in place,"
— Toni Frana, Career Expert at FlexJobs

💬 Translation?
Don't blow your emergency fund or neglect your main job.
Grow smart, track your money, and reinvest wisely.

⚡ Quick Tip of the Week

🌱 Commit just 15 minutes a day to your side hustle idea.

That's 7.5 hours a month — enough to:

✅ Learn a new skill
✅ Post your first product
✅ Pitch three potential clients

👉 Small, consistent action > random big pushes.

✨ Inspiring Story: From Side Hustle to Business

Sudha’s journey began in her Coimbatore home. A play-school teacher, she started grinding moringa, spinach, mint and other greens into healthy podis (spice powders) to get her picky daughter to eat her veggies​. These tasty masalas were a hit – friends and family urged her to share them beyond her kitchen.

  • From kitchen to company: With just ₹2,000 of her savings, Sudha turned that home remedy into Iniya Organics, formally registering the business in 2018​.

  • Growing organically: Today, Iniya Organics offers 37+ varieties of masalas, health mixes and soups​. What began as a side hustle now reaches hundreds of customers in Coimbatore and earns lakhs each year.

  • Read the full story: Dive deeper into Sudha’s inspiring journey here on thebetterindia.com

Sudha and her Family

💖 Inspired by Sudha? You can help more homemakers achieve their dreams – donate ₹500 now and be the investment they need for their dreams to scale on (thebetterindia.com)—https://thebetterindia.com/410978/womens-day-the-better-india-campaign-homemakers-start-businesses-stitching-goat-rearing-pickles-and-snacks/

🎯 Your Move This Week

Pick just one action to take today:

✅ Block 15 minutes for your idea.
✅ Research a platform (like Fiverr, Etsy, Amazon).
✅ Start learning a high-demand skill.

Small steps → Major life upgrades. 🚀
You’ve got this — and The Money Edition is cheering you on every step of the way!

✉️ Got a side hustle success story (or a total fail)?

Reply back — we might feature you in an upcoming edition! 👀

Until next time,
The Money Edition
Helping you earn smarter, not harder.