The side hustle industry has grown and not everything is equally good. Learning the economics of various side income streams also makes you manage your time well and not waste your efforts in activities that do not yield much.
There are also common features of high-value side hustles: they build upon existing abilities, are reasonably-paid in an hour, and are scalable with time. Freelance writing, consulting, tutoring, and skilled trades tend to work better than gig economy work such as food delivery or driving compared to all expenses and time spent.
Not all side hustles are profitable as they may seem to be because of the hidden costs involved. Hourly rate will decrease when you have vehicle wear and tear, gas, insurance, platform fees and unpaid prep time. Always determine after all expenses what you have really earned.
The most favorable side hustles are those that will be in line with your long term objectives. When it develops skills or relationships, or creates a portfolio which helps you further your primary career, or creates new opportunities, it is valuable beyond that direct income. Strategic side hustles are investment in the future of your earning power.