The End of the Hustle?
From corporate ladders to side hustles and portfolio careers, is the end of hustle culture the next professional trend?
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After a decade defined by productivity, there is talk that the 2020s will be decidedly less work-focused, despite the cost-of-living crisis. So will we see landlords joining this trend and selling up?
According to digital marketplace Airtasker, 46% of people in Britain are making a second income using ‘side hustles’. This is something they’re doing outside of their day job, in their spare time making, on average, £274 extra per week.
Given rising prices across the board, this additional income could be a lifeline for many households.
Side hustles are incredibly varied. Many people have opened Etsy shops selling everything from graphic design to hand-dyed yarn. Other people build an influencer following on Instagram or TikTok and make money in sponsorships and ads, while others self-publish on Amazon, bypassing the traditional publishing industry.
From ‘side hustles’ to top up your monthly income to ‘girlbossing’ your way to a brilliant company, the first years of the 21st century saw the glorification of busy. It became the norm to freelance or run a small business on the side of your day job.
But the dark side of this trend is the inevitable burnout. Full time jobs average around 35-40 hours per week, plus additional commuting time. So to try and squeeze in a ‘side hustle’ alongside this and your personal life (not to mention washing, cleaning, child-care, the list goes on…), well, it’s obvious why people would burn out.
While this may have been more manageable before, many found themselves hitting the wall in 2020-21 and reassessing their goals.
The Great Resignation
2021 has become known as the year of the ‘Great Resignation’ as people seemed to be leaving their jobs left, right and centre, with resignation levels significantly higher than pre-pandemic.
However, data suggests that while some people were leaving to level up and earn more money, many were simply moving sideways in their career.
For many, the pandemic forced a reevaluation of their lives, particularly with a view on how their career suited their personal goals and their work-life balance. Moving sideways indicates that people are looking to work for companies with a culture that better suits their needs. After so much time away from loved ones, people are prioritising their personal time now, as much as they can.
The landlord hustle
Despite the cliche, most landlords don’t live off the income from their properties. For many, it’s an additional income and an investment either for their future retirement or for their children.
Investing in a buy-to-let is a large financial commitment and something that has to be carefully budgeted for in order to stay on top of legal requirements, updates and insurances. So if you’re a landlord looking for a better work-life balance, so that you can spend more time with your family and friends and doing what you love, how can you streamline your landlord life?
- List your property with Mashroom, you can list your property and save money on finding your next tenant
- Get reminders. Use our free Document Storage Tool to keep all of your legal certification in one place. When you upload your documents, you’ll be prompted to add the expiry date, so you’ll get a notification when something is approaching expiry and can renew in a few clicks
- Track expenses. Our free Expense Tracker makes it easy to track all your income and expenses in one place. Come tax time, you can download the info to make it all a little less taxing
- Stay up-to-date. Change is a constant in a landlord’s life, so follow Mashroom and sign up for our webinars (or watch them back on our dashboard) to make sure you remain compliant and in line with current rules and regulations
The internet and online platforms like Mashroom are the best way for you to automate your business, so that you’re freeing up time. A tool that reminds you when a certificate is expiring or a tool that makes handling your expenses easier means you can worry less about staying on top of things.
Find the tools that work best for you and use them – then enjoy all the time you’ve saved!