Side Hustles: A Double-Edged Sword for Long Islanders
For many Long Islanders, the rising cost of living has led to a surge in side hustles and second jobs. While this can be a great way to make extra money and pursue passions, it's not without its risks. From tax surprises to legal conflicts and burnout, the hidden downsides of side hustles can quickly turn a financial win into a costly mistake.
Elisa Irvolino, a full-time ultrasound tech and part-time lifestyle brand creator, embodies the spirit of the side hustle. Her lifestyle brand, Sazón y Corazón, offers Latin American recipes, a lifestyle blog, podcast episodes, and events like Bad Bunny bingo brunch and cooking lessons. While it doesn't bring in a ton of extra cash, Irvolino has taken steps to protect her business, including registering it as an LLC and purchasing liability insurance.
However, the risks of side hustles are real. Tax and legal complications can arise when working multiple jobs, and workers may not qualify for unemployment assistance if they lose their main source of income. Additionally, conflicts of interest with primary jobs can lead to legal issues and burnout. Juggling multiple jobs can also take a toll on personal lives, with gig workers experiencing isolation and reduced time for social activities.
To avoid these pitfalls, workers should plan ahead for taxes, set boundaries, and understand the impact of side hustles on their finances and careers. It's important to come in with a game plan, including an exit plan, and to be aware of potential conflicts of interest with primary jobs. By taking these precautions, Long Islanders can make the most of their side hustles without falling into common traps.
