Living can be costly. Covering essential expenditures such as bills, rent, and groceries, splurging on leisure, and saving for anticipated and unexpected life events sometimes stretches even a sizeable paycheck thin. While exploring higher-paying job options or negotiating a salary increase could mitigate this expenditure, these solutions may not always be practical or attainable. Especially for those fond of their current job or company, seeking a different employment may not be appealing. In such cases, you’re left with two choices: work additional hours or engage in a side job. Both can potentially boost your income, but based on your schedule and lifestyle, one may suit you better than the other. Therefore, it’s worthwhile to weigh the advantages and disadvantages of increased working hours and engaging in a side job before making a decision.
WORKING EXTRA HOURS
1. IT MAY NOT BE FEASIBLE FOR ALL
As an hourly worker, you may be eligible for overtime. However, if you’re a salaried employee, overtime may not be an option. A few companies compensate for overtime, while others might include it within your fixed salary. Overtime laws do exist, but you might fall into an exempt category depending on your paycheck.
2. GREATER VISIBILITY
One significant upside to overtime is its potential to advance your career. Employers often acknowledge employees who go the extra mile. Readily working longer hours might position you favorably for perks such as bonuses and promotions, thereby potentially enhancing your overall earnings and saving you from excessive overtime in the future.
3. YOU ALREADY MASTER THE TASK
While side jobs can be a refreshing change, there’s substantial value in sticking to a job you’ve already mastered. Engaging in a side job might necessitate acquiring new skills, which could delay the additional earnings you desire. Overtime, however, allows you to cash on your existing skills right away.
4. IMPACT ON YOUR SOCIAL LIFE
Increased working hours could take a toll on your relationships and social engagement, as you’ll have less downtime for family and friends. Your job usually does not adapt to your schedule, which might lead to missing out on significant gatherings and occasions. Ensure the added income justifies the potential strain on your relationships.
5. CHANCES OF BURNOUT
Overdoing anything, even a job you enjoy, can potentially lead to burnout. Maintaining work-life balance is crucial not only for productivity at work but also personal contentment. If you start feeling shackled to your job, you might want to reconsider overtime.
Engaging in SIDEJOB:
1. CHANNEL YOUR CREATIVITY
Many struggle to incorporate their creative abilities or inclinations into their main profession. For the artistically inclined, a side job could be a perfect platform to monetize your talents, be it in writing, painting, photography or furniture restoration.
2. HONE YOUR SKILLS
If you’re willing to learn new skills, side jobs can be an ideal avenue. Increasing your skill set enhances your value as a professional and job seeker. If you aspire to learn something new, starting a side job could be an excellent idea.
3. DISCOVER YOUR PASSION
Often, people settle into roles that weren’t their primary choice. A side job offers you the chance to explore a variety of roles and possibly uncover your genuine passion.
4. POTENTIAL IMPACT ON PRIMARY WORK
While sidejobs are popular, depending upon the nature of your side job and the volume of work, it could almost evolve into a second full-time job. If your side job workload amplifies, it might impact your productivity at your main job. Be certain you can handle the pressure and workload of two jobs before plunging into a side job.
5. LESS ME-TIME
While overtime can compromise your social life, a side job could leave you with even less personal time. If you’re committed to a side job, you might spend your free hours working on it. Consider the time and effort required for a side job before committing.
CONCLUSION
Extra income can bring more comfort to life, provide extra entertainment budget, or hasten the pace towards your financial objectives. However, overtime or a side job will require more of your leisure time. Ensure the added income is worth the sacrifice. Finally, thoroughly evaluate the pros and cons of both overtime and side jobs to make an informed decision. Share your experiences of having worked overtime or engaged in a side job and whether the extra effort was worthwhile.
