Is your side hustle really helping you get out of debt—or quietly dragging you deeper in? In this episode, Steve Rhode, the old, original Get Out of Debt Guy, and the new Get Out of Debt Guy, Damon Day, break down the truth about side hustles, gig work, and those “make money from home” dreams that can turn into financial nightmares. Steve and Damon talk about the two very different worlds of side hustles: simple, cash-flow gigs like Uber, Lyft, DoorDash, Instacart and Walmart Spark… and the “business opportunity” side hustles like Amazon FBA, drop shipping, and guru-led online courses that can leave you with more credit card debt than profit. Steve shares his real Amazon FBA experience (including starting with $20–25k in inventory and building it into a serious business), while Damon explains how he consistently earns around $40/hour in the gig economy by stacking apps, knowing his market, and refusing unprofitable rides. They dig into: Why so many people go into debt “trying” to get out of debt with side hustles The danger of high-priced “done-for-you” websites and Amazon stores Profit vs. revenue (and why a $15, 30-mile ride can actually lose you money) How to think about car costs, IRS mileage, taxes, and 1099 contractor reality When it’s smarter to drive Lyft or do Instacart than to swipe a card for another course How to test your market for 60–90 days and know when it’s time to pivot If you’re thinking about starting a side hustle to pay off credit cards, avoid bankruptcy, or just keep up with inflation, this episode will help you avoid the emotional traps, slick marketing, and bad math that can wreck your finances. For more straight-talk on getting out of debt, visit GetOutOfDebt.org : 👉 https://getoutofdebt.org To talk one-on-one with Damon about your specific situation or set up a free consult, you can reach him at: 👉 https://damonday.com
