Many workers have been dealing with rising living expenses for well over a year. We can blame it on raging inflation.
If you’ve spent the last year crunching numbers, clipping coupons, and watching your savings account balance dwindle, you’re not alone. You may also want to increase your income to compensate for inflation.
For many people, this means starting a side business. However, according to a recent Monster survey, 37% of workers have more than one full-time job. Furthermore, 57% of workers said they would consider working more than one full-time job.
Of course, working more than one full-time job is possible. But is it a healthy way to live? Most likely not. And sticking to that schedule could have long-term consequences.
Your mental and physical health may suffer as a result.
According to the survey, 80% of those who work more than one full-time job do so because they need more money than one full-time job provides. In addition, 44% want a backup plan in case they are laid off.
A better option when one job is insufficient.
If your full-time job isn’t paying you enough to cover your living expenses, and you don’t have any reasonable expenses to cut back on, it’s easy to see why you might feel compelled to get a second full-time job. But, before you go that route, look into other side hustle opportunities.
Some side hustles can be quite profitable, particularly if you have the necessary skills or learn to be extremely efficient. Assume you’re an expert with computers and can update a basic website in under an hour. If you charge clients $100 for a website update, you might be able to meet your financial needs without having to commit to a second job that requires you to work full-time.
Don’t take any chances.
Working more than one full-time job may yield some initial financial benefits. It may enable you to increase your savings, pay off your credit cards, and finally have enough money to cover your bills without feeling stressed.
However, working multiple full-time jobs is not a healthy way to live. So, if that’s a situation you’re in or considering, you might want to reconsider.
Not only can working multiple full-time jobs lead to burnout, but it is also possible to fail at your jobs and lose them. Rather than taking that risk, look for a job with room for advancement. Then, as needed, work side gigs to supplement your income.
If you use the wrong credit or debit card, it could cost you a lot of money. Our experts recommend this top pick because it has a 0% intro APR until 2024, an insane cash back rate of up to 5%, and no annual fee.
