Let’s say your side gig started great, but the time and effort that you put into it isn’t worth the energy any longer. That’s especially true if that side hustle has been costing you sleep, performance at your primary job or the relationships you value. So you want to quit, but you also want a clean exit that won’t severely impact your financial life. It’s absolutely doable — here’s how to make it work.
Signs you are past the point of burnout
Dreading clocking in for every shift? Missing important occasions because you’ve got to be on the job? If the very thought of work you were once on-board for makes you feel ill, then you’re almost certainly experiencing burnout, not a bad day. And the first thing you need to do to halt the cycle is to accept that it’s okay to quit. You’re not giving up — you’re protecting your health and future income. Here’s how to feel good while adjusting your work schedule.
Step 1: Find your real take-home from the gig
To know what this job is worth to you, you have to know what the actual benefit of working it is. And that requires a little light accounting. The basic idea is this: Look at the last four full weeks and add up all side-gig deposits. Then, subtract what you pay out of pocket to fund that gig, whether it’s gas, meals, uniform costs or anything else that you’ve spent money on to make it work. Let’s get into the specifics:
How to Calculate Mileage
Start with miles if you drive. Do not use only gas. Every mile wears down your car. Use the current IRS standard mileage rate to estimate total car cost per mile, then multiply by the miles you drove for the gig. Subtract that number from your pay.
Other Potential Costs
Childcare, pet care, parking, tolls, small gear and even platform fees can add up. Then, there’s taxes: If you’re a 1099 contractor, your taxes are not withheld, so set aside a slice of your net for federal and state tax. The IRS has a simple hub for gig workers that explains what to set aside and how quarterly payments work. Review it and make a note for your plan.
So do the math and find your real earning from your side gig. If your overall take home pay is low or in the negatives, you know that: 1. The gig is not worth the pain, and 2. You do not need a giant cushion to quit, because the gap to cover is small or nonexistent.
Step 2: Pick a quit date and build a small bridge
If you’re already in the negative from your side gig, then quit whenever you’re ready — leaving that extra job will actually save you money. If your side gig does make a tangible — or major — difference in your financial life, then more planning is required.
The good news is that you don’t need months of savings to get out, just a short bridge that covers the basics while you settle into a new routine.
Here’s how: Add up one week of essential costs, like housing, utilities, food, phone, transit and the minimums on any loans or credit cards. Ignore everything else: You want to see your weekly minimum income needs. So if that number is $450, four weeks is $1,800. That is your bridge goal.
Ways to build your bridge, fast
- Pause non-essentials for 30 days, like delivery or new subscriptions, and move that money to the bridge.
- Sell one unused item each week, same day each week so it becomes a habit.
- Cash out rewards, cash back, and rebate app balances and move them to the bridge.
- If you get a tax refund, set part of it aside here.
- Take 1 or 2 tiny, fixed jobs you control, like an hour of tutoring or a one-time yard job.
If the target feels too far, shave one week off. A smaller bridge beats no bridge. If you pass your goal before your quit date, great. Stop early if you want to, or add one extra week of cushion and keep the date.
Step 3: Swap to easier income for a short time
Don’t want to drop that extra income entirely? That’s cool too — the point is to replace high-stress hours with something less demanding.
Be open to mixing your work up a bit: Look for short tasks with a clear finish, like weekend event shifts, holiday stock help or a two-day project for a neighbor. The key is to keep them short and on your terms. Consider flipping or pawning unneeded possessions, or trade in unused gift cards. If possible, rent a parking spot or lend tools for a fee.
If the gig was only to keep up with many payments
For some, a side gig seems like the only way to keep up with several high-interest balances. If you step away and still feel squeezed, you have options that do not require a second job. One approach is debt consolidation — and our program can slash your eligible monthly debt payments by 40% or more. That’s wiggle room many people in debt could use.