Have you ever found yourself mesmerized by those Instagram reels where someone proudly declares they’re juggling 15 side hustles? Personally, I’ve always been skeptical. It’s like watching someone juggle chainsaws—impressive, sure, but how sustainable is it? Cody Berman, a guest on The Personal Finance Podcast, recently spilled the tea on his own journey from managing 19 income streams to calling that strategy ‘so dumb.’ What makes this particularly fascinating is how his story flips the script on the side hustle craze. Let’s dive in.
The Illusion of Security in Numbers
Berman’s confession is a breath of fresh air in a world where ‘more is better’ is the mantra. He admits that chasing 19 streams wasn’t just exhausting—it was financially counterproductive. Here’s the kicker: many of these gigs paid a measly $2 an hour. If you take a step back and think about it, that’s a staggering opportunity cost. The average private-sector worker in the U.S. earns around $37 an hour. So, every hour spent on a low-paying hustle is an hour you’re not maximizing your earning potential.
What many people don’t realize is that the real cost isn’t just the money—it’s the mental toll. Juggling 19 streams means 19 different setups, customer service headaches, tax nightmares, and constant context-switching. Attention is a finite resource, and spreading it too thin is a recipe for burnout. In my opinion, this is where the side hustle hype machine fails us. It sells the dream of security through diversification but ignores the practical limits of human energy.
The Real Asset: Skills Over Streams
Here’s where Berman’s story takes a turn worth noting. Despite the chaos, he gained something invaluable: skills. Copywriting, email marketing, podcast editing—these aren’t just resume bullet points; they’re compoundable assets. A detail that I find especially interesting is how he reframed his failures. Those $50-a-month gigs weren’t just losses; they were tuition payments for skills that later catapulted his income.
This raises a deeper question: What if the goal of a side hustle isn’t just to make money now, but to build skills that pay dividends later? Berman’s consolidation to three focused ventures—digital products, real estate, and podcasting—is a masterclass in this. It’s not about how many streams you have; it’s about how deeply you can cultivate the ones that matter.
The Skill Transfer Test: A Game-Changer
Berman’s advice boils down to one question: Does the skill transfer? This is where most side hustle gurus drop the ball. They push gigs like online surveys or low-paying freelance work without considering the long-term value. Editing a podcast for $2 an hour might seem like a bad deal, but if you learn audio production and client management, you’re building a skill that could later command $75 an hour.
From my perspective, this is the most overlooked aspect of side hustles. People focus on the immediate income, not the intangible assets they’re acquiring. In a recessionary economy—like the one Berman references with consumer sentiment at 53.3 and savings rates plummeting—this distinction is critical. Picking the wrong hustle doesn’t just cost you money; it costs you time you could’ve spent building something lasting.
How to Hustle Smarter, Not Harder
If you’re nodding along but wondering how to apply this, here’s my take. First, stop chasing income targets and start setting learning budgets. Decide how much time and money you’re willing to invest in a hustle, and track the skills you’re gaining, not just the revenue. Second, audit your current gigs. If a hustle pays less than your hourly wage and isn’t teaching you anything transferable, cut it loose.
Berman’s rule of capping ventures at three is gold. It forces focus and prevents the chaos of over-diversification. And here’s a tip I’ve found useful: schedule a quarterly ‘prune.’ Every 90 days, drop the lowest-performing hustle and reinvest that time into your most promising venture.
The Bottom Line: Stop Counting Streams, Start Counting Skills
Berman’s journey is a reminder that the side hustle game isn’t about quantity—it’s about quality. Personally, I think the real win is in building skills that outlast any single gig. If you’re feeling overwhelmed by the hustle culture, take a breath and ask yourself: What am I really learning here?
In a world where everyone’s chasing the next shiny opportunity, the ability to focus and build compoundable skills is what sets you apart. So, stop counting streams. Count skills. And let the income follow.
