Far too often, I hear and read about the financial side of blogging (or any side job), and how, if you do the math, it’s not worth it. Often, they argue that if you’re going to have a side gig, money shouldn’t be a factor and that any money earned should be seen as an added bonus, because earning a few dollars per hour isn’t worth it.
What Others are Saying
Recently, Financial Samurai wrote about blogging for the Yakezie and how the group would lose money if he were to be paid a normal salary based on his job description. And on Free Money Finance, Sunil guest posted that side gigs aren’t worth it because the hourly wage is so low. They qualify it by saying that it’s not worth doing for the money, that it’s worth doing for other benefits.
Why I Think They’re Wrong
I think they’re completely wrong about it not being “worth it.” The measure of whether the time is worth it shouldn’t be based on your day job, but rather on how much you value your free time. If you really love sitting in front of the tv, then a side business is likely not for you.
Take it a step further. This is an exercise anyone can do. Take the amount of money you could make with your side gig, and drill it down to the amount of money an hour of work would generate, on average. Compare that to an hour of your free time. Which would you rather have? If you have the choice, then you’re essentially paying for your free time (because if you want you can “work” and earn that money).
Money vs. The Alternative
I spend plenty of time watching TV and doing other nonproductive activities. I don’t value my free time all that much, so many opportunities are worth it to me. Even if I make $5 an hour blogging (I have no clue what the actual number is), I would never pay $5 for an hour of watching TV. That’s absurd! So to me, blogging is definitely a good idea compared to my alternative of non value-added activities.
I do agree with other bloggers that money shouldn’t be the ONLY consideration. I enjoy blogging and while it’s worth, blogging plus $5 is far greater and brings more enjoyment to me than an hour of watching Millionaire Matchmaker (that’s not a fair comparison, that show is awesome) Glee.
So if you’re considering a side business, just ask yourself: “Is your free time worth it?”