Why you might want to think twice before starting a side hustle
As the saying goes, “Do what you love and you’ll never work a day in your life.” But is it really that simple? For those who take this adage to heart and decide to turn a beloved hobby into a livelihood, it could potentially be a decision you’ll regret.
According to psychologist Eloise Tomkins, making money from one of your hobbies isn’t just a financial decision; This is a psychological situation. Tomkins has devoted more than a decade to working in the mental health field, including with high-performance professionals navigating anxiety, burnout, and major life transitions.
“One of the biggest advantages of making money from a hobby is that you already care about the work, and that authenticity is often what attracts people in the beginning,” says Tomkins.
“The flip side is that when money comes into play, the relationship changes and it’s no longer just a matter of pleasure. There’s pressure to make money, meet other people’s expectations, and keep things going even when motivation is low or life gets in the way.”
“If someone has not developed the capacity to tolerate uncertainty, rejection, or slow progress, stress and burnout tend to set in quickly.”
Another important element to examine is how closely you tie your self-worth to your work.
Without possibilities, the stress of thinking “this has to work” can quickly stifle the passion that motivated you in the first place.
“When a hobby is highly personal, things like pricing decisions, customer feedback, or rejection can feel like the person’s decision rather than the product. As a result, people often charge low, avoid raising prices, avoid overdelivering, or take rejection personally rather than seeing it as normal feedback that can be used to strengthen your business.”
Potential or new business owners should try to ensure that their love of what they do does not dominate their decision-making so that business decisions can be made strategically rather than emotionally.
When it comes to pursuing a hobby as a side hustle, it’s not just the extra hours that tire you out, but also the mental load. “People often plan their work hours but forget about management, marketing, decision-making, and the cognitive effort of switching roles after a full workday,” says Tomkins.
Another side hustle trap is devoting every free moment you have to it. This can destroy the joy and passion of what once felt exciting and fun.
“A useful question is: ‘What am I willing to prioritize to make room for this?’ If the answer is ‘nothing’, stress and burnout are almost guaranteed,” he says.
For people looking to find a new hobby with the intention of eventually making money, the question is simply “can you make money from this?” not. but “would I still enjoy it if it took longer than expected?”
Tomkins says he sees many people starting businesses they’re not really interested in because they think it’ll be easy money.
“Monetization almost always takes longer and feels more complicated than people expect. If the interest isn’t genuine, it becomes very difficult to stay motivated when the novelty wears off and the revenue doesn’t flow as easily as expected.”
How to hustle effectively
Tomkins encourages having clear boundaries and maintaining rest and recovery time. “Ironically, it is precisely this disruption and relational space that supports creativity, problem-solving, and long-term motivation.”
Then, the step is taken to quit a job to make a hobby the only source of income. Are two main components needed? Courage and faith.
Tomkins works closely with talented, driven, and competent women, but finds that money decisions trigger stress, avoidance, or self-doubt.
“Although it takes time to build a sustainable and profitable business, I have found that many women in business face pressure from partners or family to return to a ‘real job.’ This external pressure can create self-doubt and guilt if one is not prepared for it,” she says.
“Without adverse circumstances and support, the stress of thinking ‘this has to work’ can quickly stifle the passion that motivated the breakthrough in the first place.”
Even if you don’t know how things will go, there’s one inevitability: You’ll need to learn how to talk tax and trade issues at a basic level, even if you’re not interested.
”This means planning for things that traditional employment automatically covers, like sick leave, annual leave, inconsistent income, and periods when your efforts don’t translate into immediate results.”
If you’ve made it through this, are undaunted, and are willing to move forward, consider consulting an accountant beforehand. They will be able to advise on whether you should set up yourself as a sole proprietorship or a company. The ATO website offers information about both routes.
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