Title: The Extra Earnings Battle: Side Jobs vs. Small-Time Savings
When I was young, my grandma would often mention her ‘pin money’. It’s the term she used for the small amounts of money she amassed every year from various activities, which had a financial aspect. For instance, she would trim down her grocery bills using coupons and save the extra money. She also saved coins in a large container and once full, she’d roll the coins and deposit them at the bank. Sometimes, she’d earn a few bucks by making alterations to clothes for a friend.
As I initially began understanding finance, I thought of ‘side jobs’ or ‘hustling’ and ‘pin money’ as parallel terms. However, as I delved deeper into my financial journey, I realized they were actually different ways of earning extra cash.
A side job or ‘hustling,’ as I call it, is a heavier commitment. It’s almost like having an additional part-time role on top of your main job. Although it provides a significant amount of extra money, it demands considerable effort. My blog, for example, is a side job which demands as much work as a part-time role, yielding a similar income.
‘Pin money,’ on the other hand, is somewhat like a mindful windfall. It’s the little extra money you get from various sources, but its consistency can’t always be relied on. For instance, I’ve participated in User Testing activities that earn me $10 for every 15-minute website review. It’s easy money, but the opportunity doesn’t happen often. But remember, when my budget is tight, I make myself grab these chances.
Similarly, I categorized ‘mystery shopping’ as ‘pin money’. When I lived in New York City, I participated more in this, because it only occupied a few extra minutes of my regimen for a store review. Also, airport shops tend to pay more for these reviews, so I grab these when I’m travelling.
Freelance writing is part of my pin money endeavors too, as I don’t engage in it consistently. It’s a welcomed extra when the chance arrives, yet it’s not something I factor into my regular income. Since it’s not a main hustle, it doesn’t use up much of my time either.
That being said, I believe ‘pin money’ activities can act as a great stepping stone towards further hustling or side jobs. They’re perfect for those who are trying to get used to spending time making extra money. ‘Pin money’ opportunities often yield quick rewards, like facial expression testing, or surprise bonuses, typically from mystery shopping.
So, what was your maiden attempt to earn some extra money on the side? Let us all know!
Related Topics:
– Spend Less, Make More
– The New York Side Job Scene
– Side Jobs For Fun Goals
Published: January 11, 2017 in Earn More. Tags: side jobs, pin money, extra income