That's an excellent point! In the present world economy, one never knows when his side hustle might become the only thing putting food on the table. My work, that at one time I thought bulletproof, was disrupted for three months. I spent that time working with others behind the scenes to make it come back, but not everyone has that (rare) opportunity. I was in the right place at the right time, or I'd have been looking for a new gig at 46, and I would not have been happy about it.Poland308 wrote:Louie1961 wrote:The best advice is to save the money. In business you want to have enough working capital to operate for at least 6 months. Granted that may not apply to a side hustle, but still, I wouldn't buy anything until you need it for a specific job. If you are making money and generating cash flow, try to put aside enough money to pay the mortgage and feed the family for 6 months. Only when you have that covered would I look at other things.
Solid advice! Especially if it's a side Hustle. No telling when you may need to turn it into the full time gig. Then that capital could very well be the difference between failure and success.
Steve S