Data Source and Methodology
All calculations are based on standard financial formulas. For detailed financial advice, consult a financial advisor.
The Formula Explained
Net Profit: Net Profit = Income - Expenses
Glossary of Terms
- Income: The total earnings from your side hustle.
- Expenses: The total monthly costs associated with your side hustle.
- Net Profit: The remaining income after all expenses have been subtracted.
Frequently Asked Questions (FAQ)
What is a side hustle?
A side hustle is a way to make some extra cash that allows you the flexibility to pursue what you're most interested in.
Why calculate profitability?
Calculating profitability helps you understand if your side hustle is financially viable and worth your time.
How do I increase my net profit?
To increase net profit, either increase your income, reduce expenses, or both.