How Can Side Hustles Help You Earn Extra Cash For Your Emergency Fund?
Building an emergency fund is one of the smartest financial moves you can make. But saving money isn’t always easy, especially if you rely solely on your primary income. That’s where side hustles come in! With the right gig, you can boost your income and start building your emergency savings faster than you ever thought possible.
With the right side gig, you can set aside hundreds or even thousands of dollars per month. Below, we’ll explore top-paying side hustles and what to do if you need immediate cash through a title loan or payday loan.
Why Build an Emergency Fund with a Side Hustle?
Learning the benefits of an emergency fund will help you understand why it is so important to have one.
1. You Protect Your Long-Term Savings
Those who do not have a reserve fund but regularly contribute to a savings account might be forced to take the money from the account if a disaster strikes. This will keep you from achieving your goal. You might also be required to take care of certain fees for withdrawing the amount earlier than expected.
With an emergency fund that you have set up with the help of a side hustle, you wouldn’t have to dip into your savings and then feel bad about it.
Learn how to review your finances to see where you can save.
2. You Diversify Your Income
It’s always nice to have a few sources of income. If there ever comes a day when you lose your main job, you’ll know that you have a side hustle that’ll help cover your bills until you find another full-time job.
To set up a side gig emergency fund, you would have to spend some time building up your portfolio and figuring out all the aspects of the hustle. Doing this in preparation means that you wouldn’t have to waste any time on such things if you ever lose your job.
3. You Gain Peace of Mind
From a psychological perspective, it’s easier to build an emergency fund with the money that you earn on a side gig. Your brain already treats this cash as ‘extra’. Thus, you won’t feel like you’re depriving yourself of something (which can sometimes happen with those who set aside a part of their main income).
Aside from that, knowing that you have an emergency fund you can take advantage of will help you feel more confident about making various decisions in life.
Top Side Hustles to Grow Your Emergency Fund
Ideally, you want to start building your reserve fund while you have a stable income. This will remove any extra pressure and allow you to feel at ease when setting up your side gigs.
If everything goes well, you could make between $1,000 and $3,000 extra cash per month. And it might take you less than 6 months to build a large enough emergency fund.
So, what side gigs are worth checking out?
- Dog sitting on Rover can bring you between $15 and $100 per visit, but you’ll need some time to get reviews and find repeat clients
- By doing deliveries for Uber Eats or DoorDash you can earn around $23 per hour
- Babysitting rates range between $10 and $20 per hour
- Those who are familiar with digital marketing, graphic design, translation, and video creation can easily earn extra cash on freelance websites, like Fiverr or Upwork
Need Emergency Cash Now? Consider a Title or Payday Loan
While side hustles are great for long-term savings, they take time to build. If you’re facing a financial emergency today, you might need a faster cash solution.
But what options are you left with, if you need money right now?
If you’re dealing with a financial emergency, you might want to consider a loan. That’s where a Title Loan or Payday Loan can help.
Fast Cash for Urgent Expenses
When time is of the essence, Title and Payday Loans helps you connect with licensed, trustworthy lenders who can:
- Approve your loan in as little as 30 minutes
- Offer up to $15,000 based on your vehicle
- Fund you same day or by the next bank business day
How the Process Works
Applying for a loan through Title and Payday Loans is simple:
- Submit the Inquiry Form: Complete the short form on the TitleandPaydayLoans.com homepage.
- Get Matched with a Lender: We connect you with a nearby licensed lender.
- Verify Your Info: A rep will contact you to verify your ID, title, and vehicle.
- Get Paid Fast: If approved, get your cash that day or the next bank day.
All credit types are welcome to apply, and some vendors even offer mobile agents who come to your location.
Start Saving Today!
If you’re making money with side hustles, you might manage to build an emergency fund quite fast. But if you are just getting started on your money-saving journey and you need extra cash right now, Title and Payday Loans might be able to offer you a helping hand.
We work with trustworthy lenders and various title loan locations that have competitive rates and amazing customer support. By the way, you may get approved in just 30 minutes, and all credit types are welcome to apply. Don’t wait any longer – submit the inquiry form now, and a friendly loan representative will contact you soon after!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
