Cooking the Books podcast: Is a side hustle worthwhile?

Not all side hustles are created equal. Photo / 123rf

Each week the NZ Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's the options for earning more money on the side. Hosted by Frances Cook.

Listen to "Cooking The Books: Is a side hustle worthwhile?" on Spreaker.

Making extra money on the side can be an appealing idea.

Maybe you're trying to save for a house, or you just want to go on holiday and see a bit more of the world.

You don't always have time for the long-term goals of pushing for a raise or a promotion. So you're left with earning more money in your spare time.

But frankly, side hustles make me nervous. I don't like the idea of people working every waking hour, just to scrape by. That's not normal.

Some of these "genius" side hustles will chew you up and spit you out. You can actually end up losing money if you're not careful.

It's not worth killing yourself working two jobs, especially if you'll barely break even at the end of it.

Not all side hustles are created equal.

I talked to Diana Clement, money writer for the New Zealand Herald, about what options are out there and what it takes to make them work.

We discussed the pros and cons of the sharing economy, including Airbnb, Uber, and Builders Crack, as well as the one bit of advice she has for everyone considering the sharing economy.

For the episode, listen to the podcast.

If you have a question about this podcast, or an idea for the next one, come and talk to me about it. I'm on Facebook here, Instagram here and Twitter here.

Don't forget to subscribe on the Apple podcasts app or I Heart radio, to make sure you never miss an episode.