Editor’s Note: This story originally appeared on FlexJobs.com.
So, you’re thinking about getting a second job? At first glance, a second job is an easy way to fill your bank account and gain more experience. However, it’s important to be aware of the potential risks involved.
As you navigate adding a second work commitment, consider the impact that working two jobs could have on your physical, emotional, and financial health.
There may be hidden costs associated with working multiple roles, such as extra transportation, childcare, or equipment rental fees.
On the other hand, if approached cautiously, a second job can provide a financial cushion and career growth opportunities.
The Benefits of Working a Second Job
Taking on a second job can be exciting, and many professionals have multiple positions at some point in their lives. You can enjoy several financial and professional benefits with the right side hustle.
Increased Financial Security
It’s true —the key to financial stability and security might be an additional source of income.
That second paycheck can help you reach your long-term goals, such as paying off debt or building up a savings fund faster than you ever thought possible. Plus, the extra cash flow makes it easier to occasionally treat yourself to life’s little pleasures.
Working two jobs means extended hours and more discipline, but it may be worth the effort when you achieve financial independence.
More Flexibility in Your Career Choices
A second job can be ideal if you want to explore a creative interest while staying financially protected.
For example, suppose you have a passion for photography but don’t want to make it your primary source of income. Explore photography as a second career without sacrificing the financial security of your primary job.
By keeping things balanced, you’ll have the best of both worlds — creativity, passion, and stability in your professional life.
Gaining Marketable Skills
Adding a second job can be a great way to diversify your skills. Having tangible real-world experience will boost your resume, making it more attractive to employers.
Strategically pursuing a second job may provide valuable career growth as you gain practical knowledge. And not only that, but working alongside other industry professionals adds invaluable network benefits for your career.
Concerns Around Getting a Second Job
Despite the potential benefits of taking on a second job, there are some important considerations to keep in mind.
Time Management Challenges
Adding more work to your already packed schedule can be complicated.
You’ll have to scrutinize your time and prioritize tasks. It might often feel like you’re spreading yourself too thin, so organizing and creating a daily action plan is essential. And you’ll need to be realistic about your available time as well.
When determining your availability, ensure you still consider time for relationships, self-care, and basic life needs, such as grocery shopping and cooking.
Physical and Mental Fatigue
Sure, it may look easy to balance on a weekly calendar. But it’s important to remember the physical and mental tolls can lead to exhaustion, headaches, and other ailments.
Not to mention, focusing on any one assignment may become increasingly difficult due to fatigue.
Ultimately, along with your health, these things can impact your productivity at both jobs. It will be essential to monitor your stress level, take routine breaks, and pay attention to how you feel physically.
Taking steps like this can help you avoid burning out and maintain optimum performance in both jobs.
Potential Conflict With Your Primary Job
If your employer discovers you’re working a second job, they may be unhappy. Your performance in your primary job could suffer if you can’t devote the same attention and energy as before.
Ensure you know your employer’s policies on secondary jobs. Many employers have noncompete clauses in their employment contracts, so confirm your new position won’t put you in violation.
You Might Pay More in Taxes
Many professionals juggling two jobs are dismayed at tax time to discover that they’re paying more than anticipated. While you might withhold sufficiently from each position, your jobs, when combined, might push you into a higher tax bracket.
Understand the financial boundaries to determine if the extra effort is worth what you add to your finances.
Successfully Balancing a Second Job
Once you’ve weighed the pros and cons and determined a second job is for you, use the following tips to find the best fit.
Seek Flexibility
When selecting a second job, consider positions that offer flexibility. Having flexibility will make it easier to manage the demands of your two jobs.
Working remotely or having the option to work flexible daily hours can provide relief when balancing multiple responsibilities.
Set Reasonable Goals
Having goals will keep you focused and motivated while working two jobs. Set yourself up for success by creating achievable daily and weekly goals.
You’ll also want to clearly define your long-term goals. Determine how long you plan to maintain both roles to make it easier to push through the days when it’s a struggle.
Take Care of Yourself
When juggling multiple roles, it’s easy to forget self-care. Eating healthily and getting enough sleep are essential to keep you energized and productive.
Additionally, schedule regular breaks throughout the day and take days off from both jobs to avoid burnout.
Balancing a Second Job
The key to working two jobs is to find the right balance. Don’t be afraid to try a second job, but make sure you give yourself enough time and opportunity to rest and recharge.
Considering the pros and cons of working two jobs, you can decide if a side hustle is right for you.