Friday, 19 July 2024
Technology

The Pros and Cons of Starting a Side Hustle While Working Full-Time

The Pros and Cons of Starting a Side Hustle While Working Full-Time

Have you ever felt like your 9-5 job is no longer fulfilling? It’s no longer enough, be it in terms of challenge or pay. Well, finding a side hustle can easily help you out. You can add it to your usual full-time routine or use it as a transfer to the freelance position. 

So, is starting a side hustle while working full-time for you? Let’s study all the pros and cons to find out. 

Pros 

Additional Income

One thing a lot of people add side hustles to their usual routine for is additional income. And sure enough, any side hustle you start means you’ll earn more than by sticking to the one job you have.

There’s no need to take up another source of money for a long time. Are you in debt and trying to pay off your student loan? Do you want to keep up with your monthly bills? Are you dreaming about a luxury vacation, perhaps?

In that case, another part-time position can help you out. Not only will it bring you to the goal faster, but it can also compensate for a possibly low wage until you’re ready to ask for a proper raise.

Career Development

Deciding on a second gig can also aid you in career development. Truth be told, a lot of people are struggling to work full-time. There’s nothing else to inspire them apart from money and hoping to make ends meet. So, if your full-time career is no longer interesting or inspiring, a freelancing position can help you find a new source of inspiration.

Given you’re happy with your full-time position, a side gig will help you build a new career path and expand your professional network. New people mean new insights, a fresh look at your career, and fruitful relationships.

Skill Enhancement

What do you think about when you imagine your side hustle? Is it advanced professional skills?

Stop right there. Don’t forget that taking up more work means advancing in time management and organization first. And those two are just as important as niche-specific skills. 

In case you don’t feel ready to cram a serious hustle into your routine, don’t fret! You may start with micro jobs that take up to an hour a day and include:

  • paid reviews;
  • copywriting;
  • social media management;
  • SEO;
  • testing games and websites;
  • Internet sharing;
  • taking surveys, and more.

When you’re ready, transfer to a more specific side hustle you’ve been dreaming of. You’ll be developing new skills and enhancing old ones, which can easily be the catalyst to a promotion and a raise at your main job.

Self-Discovery

In addition to the proven monetary and professional pros, side hustling can also benefit your personal life. Yes, you may pay off your debt. But in the process, you might also find a new passion! Be it writing, tutoring, working with social media or finances, or even doing minor handy work for neighbors – all those can turn you into an enthusiastic professional. 

And is there anything better than earning money from a hobby you love? We don’t think so. That said, don’t be afraid of branching out and trying new things. This can lead you to discover new skills and talents.

Cons

Challenging Time Management

As much as we’ve praised side hustles as a great way to work on your time management skills, this can also become an issue for you. By adding a source of income, you’re minimizing your free time – which is already limited. And if that side job is not relevant to your hobbies, it will eat up your time to enjoy your real interests, hang out with friends, or just rest. 

25% of busy people don’t even schedule. They simply deal with the tasks they see fit, enduring all the following stress. And you wouldn’t want to be one of them.

Burning Out

Does your side hustle require you to be online during the day and clash with your full-time job? That’ll lead to major burnout without a proper routine. Unfortunately, some side hustles are not that easy to manage. And if that second job leaves you tired, sleep-deprived, and grumpy in the morning, it will damage your professional reputation. 

Research the best position to pair with your full-time one, and find the one that will benefit you. Otherwise, there is no point in working two gigs.

Financial Strain

Depending on the side gig you choose, you’ll need to invest in it. And we’re not just talking about time and effort, no. It also includes money. For example, when you take up a side hustle based on handmade products, you’ll have to:

  • open an online store;
  • manage your social media; 
  • buy all the needed supplies;
  • take professional photos of your products;
  • purchase various advertisements;
  • pack and ship your products.

And that doesn’t even mean you’ll get a full return on your financial investment. 

Surely, there are pros and cons to taking up a side hustle. Depending on what you choose, there might be a financial and mental strain on you. If you’re not careful with your routine and schedule, the full-time job reputation you have can receive irreversible damage. Make sure you’ve weighed all the pros and cons before starting a side hustle.

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