How to Grow your Money Without Burning Out: Why Investing Beats Having a Million Side Hustles

I saw this  tweet in the picture above  (still can’t get around to saying X post) the other day that got me thinking.  It read:

“This Ugandan economy, you need to be employed while selling juice and fruits at work, operate a chapati stall after work and on weekends work as MC as well as photographer on events. Then drive Uber late nights. It’s tough, man…”

The hustle is real, as Ugandans like to say.

Hustle culture isn’t a choice, it’s a necessity in this “economee” as one meme-famous minister refers to it.

For most people it feels as if the only way to survive is to have five side hustles and sleep only when you’re dead!

There is nothing wrong with side hustling. But working several side hustles can be exhausting. Many people are burnt out, barely keeping up, and watching their mental health decline as they juggle gigs, 9-to 5’s, and family life (including black tax) amid the pressure to “make it”.

 And some of these side hustles don’t always translate to money makers.  You’re still trading time for money. And when you stop working, the money stops too.

So what’s the alternative?

Investing.

Investing  is one of the few strategies we can adopt to make our money  grow on its own.

 “But I don’t earn much, can I really invest?”, you ask.  Good question.

And the answer is, yes, you can. That is if you are willing to start small, stay consistent, and be patient.

I’m learning that even small amounts, consistently invested, can build wealth over time.

You don’t need to be rich or a financial expert to start investing.

In Uganda (and many parts of the world), there are now investment platforms that let you invest from as little as 5,000 or 10,000 UGX.

You can start small:

• 10,000 UGX a week into a unit trust
• Buying government Treasury Bills and Bonds (yes our government has its issues but they do pay back when we lend them through bills and bonds!
• Time is your biggest asset. The earlier you start, the better—even if you’re starting with just 10,000 UGX a week.

One of the key lessons I have learnt about investing is that you will not see returns tomorrow, but you’re building a foundation that will save you from having to multiply yourself to be everywhere at the same time.

 So if you’re feeling the burnout from side hustle after side hustle, just know you don’t have to do everything. You just need to do a few things really well and let your money do some of the work too.

I have learnt a few things about investing over the last couple of years: If you would like to learn with me do reach out!

By Martha Songa

miss.songa@gmail.com