Think before you go all in on a side gig

Many people take on side hustles to drum up extra cash, whether it’s for vacations, emergencies or paying off debt.

But what happens when your side gig really takes off, or you find that you’re enjoying it much more than your full-time job? Should you take the plunge and quit your 40-hour-aweek job?

That decision is a big one, and there are a lot of factors you need to consider. Here are a few signs that it might be time to turn your side gig into your main source of income and give it your full attention.

1. Business has been picking up

Many folks with side hustles struggle to build up their workflow, especially in the early stages, when they’re not yet established. But if you’re at a point where you don’t have to look for work, but rather it just seems to constantly land in your lap, then it could be a sign that you’re ready to do your side gig full time.

2. You have healthy savings

If you have a robust emergency fund – say, at least six months’ worth of living expenses in the bank, and ideally, in this situation, more like nine to 12 months – then the time might be right to go all in. Even if your income

does take a hit during months when work slows down, you’ll have the protection of a sizable bank account.

3. You’re good at working independently

Once you take your side hustle full time, the only person you’ll really need to answer to is yourself. Sure, you’ll have client deadlines to follow, but you’ll also have the option to turn down projects if you’re feeling lazy or unmotivated.