Smart Money Happy Hour with Rachel Cruze and George Kamel
Episode: Side Hustles That Are (and Aren’t) Worth It
Release Date: March 20, 2025
Host: Ramsey Network
Guests: Rachel Cruze and George Kamel

Introduction

In this engaging episode of Smart Money Happy Hour, hosts Rachel Cruze and George Kamel dive deep into the world of side hustles—exploring which ventures are truly worthwhile and which might just be time sinks. Combining their expertise in personal finance with candid discussions about real-life experiences, Rachel and George offer listeners valuable insights into optimizing their efforts to achieve financial goals.

George's Instacart Experience

The conversation kicks off with George sharing his recent stint as an Instacart shopper, a move that initially surprised Rachel.

• Rachel Cruze [01:01]: "I think we should start off this by one of these questions that people ask a lot... the punchline was an Instacart shopper."

George recounts the challenges he faced, emphasizing the unexpected difficulties of the job.

• George Kamel [01:56]: "I was at the Sprouts bulk bin at 9:30 at night picking out licorice with a plastic tong. Every experience was horrific."

Rachel empathizes, highlighting the often underestimated effort required for such roles.

• Rachel Cruze [03:37]: "But you know what? I always get a thank you for the great tip. And I remember being like, okay, okay. Until I heard your story that people only tip $3."

Despite the hardships, George finds a silver lining in the income generated.

• George Kamel [06:02]: "It ended up being about 30 bucks an hour."

Evaluating Side Hustles: Worth It or Not?

Rachel and George explore various side hustles, distinguishing between those that offer significant returns and those that might be more trouble than they're worth.

Unrealistic Side Hustles

They caution listeners about side hustles that promise high returns with minimal effort, often glamorized on social media.

• Rachel Cruze [10:35]: "They make it sound so easy. Like just spend $10 and buy a laundromat and you'll make a bajillion dollars a month."

George echoes these sentiments, sharing a friend's experience with purchasing a laundromat.

• George Kamel [10:35]: "It's a lot of work. Well, I mean, I mean, it's not a turnkey kind of thing."

Practical and Rewarding Side Hustles

Conversely, they highlight more realistic and manageable side hustles that align with personal skills and interests.

• Rachel Cruze [13:43]: "Dog sitting, house sitting, babysitting yes. They're tried and true. And people are willing to pay good money in your own neighborhood."

George adds value by emphasizing the importance of leveraging one's strengths.

• George Kamel [13:47]: "Find something that you enjoy, right? And then you can make some great money."

Side Hustle Quiz and Results

To help listeners identify suitable side hustles, Rachel and George discuss a side hustle quiz they developed, categorizing opportunities based on skill and time commitment.

• George Kamel [20:48]: "We created a side hustle quiz to help people determine what kind of part-time work side hustles might make sense for them."

Rachel shares her result from the quiz, inspiring listeners to consider their unique profiles.

• Rachel Cruze [21:23]: "This is really good, actually. Yep."

Both agree that the quiz is a useful tool for aligning side hustles with personal circumstances.

Recommended Side Hustles

The hosts delve into specific side hustles that offer substantial returns while being manageable.

Freelancing and Consulting

George shares his positive experiences with freelancing and marketing consulting, stressing the dual benefit of earning income while honing professional skills.

• George Kamel [09:20]: "If you have skills, you're going to enjoy it the most if you're able to use those skills to make good money."

Creative Ventures

Rachel highlights creative side hustles such as selling homemade salsa, which not only generates income but also fosters community connections.

• Rachel Cruze [30:21]: "Selling homemade salsa at my farmer's market. It's been very lucrative, and I feel so connected to my community."

George supports the idea, mentioning how tailored products can meet niche demands.

• George Kamel [31:19]: "There's a lot of people out there looking for aquarium ornaments."

Balancing Side Hustles with Personal Life

The discussion touches on the importance of maintaining a balance between side hustles and personal well-being. Both Rachel and George emphasize that side hustles should serve as a means to an end, not overpower one's life.

• George Kamel [35:35]: "When you're working toward a money goal, remember, everything is just for a season. It's not your whole life."

• Rachel Cruze [35:40]: "That's right."

Drink Review: Kentucky Colonel

Adding a fun twist, Rachel and George review a drink called the Kentucky Colonel, detailing its simplicity and cost-effectiveness.

• Rachel Cruze [35:55]: "I liked it."

• George Kamel [36:05]: "This is my favorite two-ingredient drink of all time."

They break down the ingredients and preparation, making it relatable for listeners looking to replicate the drink.

• Rachel Cruze [36:16]: "Two ingredients, that's. You can't beat that."

Guilty as Charged Segment

In a lighthearted segment, Rachel shares an embarrassing job experience from her youth, while George recounts his tumultuous employment history, including a stint at Urban Outfitters.

• Rachel Cruze [37:44]: "But my high school parties and you know, that was the moment where I realized, you know, I."

• George Kamel [40:05]: "I got fired from the Apple Store... I was making 16 an hour."

The hosts laugh together, fostering a sense of camaraderie and relatability.

Closing Remarks

As the episode wraps up, Rachel and George encourage listeners to take the side hustle quiz and explore resources offered by Ramsey Network to enhance financial management.

• George Kamel [42:55]: "Thank you all for hitting that subscribe button and... Encourage your friends to go check out the show."

They celebrate reaching a milestone of 100,000 subscribers, expressing gratitude and excitement for future episodes.

• Rachel Cruze [42:36]: "A hundred thousand subscribers... thank you guys."

Key Takeaways

1. Choose Wisely: Not all side hustles are created equal. Opt for those that align with your skills and interests to maximize both income and satisfaction.
2. Realistic Goals: Be wary of side hustles that promise high returns with minimal effort. Sustainable income often requires effort and dedication.
3. Balance Matters: Ensure that side hustles complement rather than detract from your personal life and well-being.
4. Leverage Tools: Utilize resources like the side hustle quiz and budgeting apps to make informed decisions and track progress.
5. Community Connection: Engage in side hustles that not only earn money but also build or strengthen community ties.

Notable Quotes

• Rachel Cruze [01:01]: "What do you do? I'm a business consultant."
• George Kamel [06:02]: "It ended up being about 30 bucks an hour."
• Rachel Cruze [13:43]: "Dog sitting, house sitting, babysitting yes. They're tried and true."
• George Kamel [35:35]: "When you're working toward a money goal, remember, everything is just for a season. It's not your whole life."
• Rachel Cruze [35:55]: "I liked it."
• George Kamel [36:05]: "This is my favorite two-ingredient drink of all time."

Conclusion

This episode of Smart Money Happy Hour offers a comprehensive exploration of side hustles, blending practical advice with personal anecdotes. Rachel Cruze and George Kamel successfully demystify the side hustle landscape, guiding listeners toward informed and strategic financial decisions. Whether you're considering starting a new side hustle or evaluating your current ones, this episode provides the insights needed to navigate the opportunities effectively.

Tune in next time to learn about "Habits Wasting Your Time and Money in 2024," and don't forget to subscribe to Smart Money Happy Hour for more insightful discussions on achieving financial well-being.