Startup cost: $500 - $5k

Setup costs range from $500 to $5,000 depending on the scale and professionalism you aim for in starting a financial planning side hustle. At a minimum, you would need to cover expenses such as obtaining necessary certifications, setting up a basic website, and investing in essential software tools for financial analysis. On the higher end, you may want to allocate funds for professional branding, marketing services, advanced financial planning software, and possibly renting a workspace if you prefer a dedicated office environment. Hidden costs might include membership fees for industry associations, ongoing software subscriptions, and marketing expenses to attract clients. Online discussions suggest that while it's possible to start with minimal investment, costs can gradually increase as you commit more resources to grow your client base and enhance your services. If a friend is serious about pursuing this side hustle, I would recommend budgeting between $500 and $5,000 to ensure a solid foundation and potential for long-term success.