Should I Get a Second Job to Save More Money?

If you have the time and energy, you could work another job to make more money. Is it worth it? Here are some of the pros and cons of starting a side hustle or getting a second job.

Pro: More Money

If you’re like most people, the top reason to consider getting another job is to make more money, whether that’s to help make ends meet and pay off debt or to have money for things like travel and treats. 

Pro: Flexible Schedule

Working a second job doesn’t have to mean reporting to a workplace on a set schedule during your nights, weekends or off hours. The internet and the gig economy offer plenty of opportunities to make some extra money from self-employment. You could sell your crafts on Etsy, start a business on eBay, shop for Instacart, drive for Uber or deliver for DoorDash. 

Pro: A Safety Net

It’s tough these days to feel 100% secure at your job. Even if you’re a good worker for a solid company, your situation could change. If your primary job comes to an end for any reason, having a second job gives you a bit of a financial cushion to fall back on while you figure out your next steps. You might even be able to ramp up your income from your second job or turn it into a full-time opportunity.

Pro: Growing Your Network

In your side hustle, you’ll meet new people. Those connections could be valuable to you as you grow in either your main or your second job. You might also make new friends.

Pro: Learning New Skills

Maybe you’re thinking about making a career change. By working part-time or on the side in your new field, you can gain some of the skills you’ll need to make the switch. 

Pro: Creativity and Community

You might be able to explore your creative side or use your brain in different ways in your second job. You could spend that time as a photographer, youth sports umpire or referee or yoga instructor. You might even find a second job that provides you with a way to give back to your community.

Con: Another Time Commitment

Is working two jobs worth it? The hours you spend on your second job have to come from somewhere. That means you may be paying less attention to your main job, your important relationships or your health. You may have to spend time away from your partner, kids and friends. You might find yourself skipping your workouts and grabbing fast food to save time. You’ll need to develop a plan for maintaining a good work-life balance to avoid burning out.

Con: Shortchanging Your Main Career

If you want to advance in your full-time position, think carefully about how a second job might affect your prospects. Even if you’re not taking time away from your primary job, you may not have the energy and enthusiasm you need to perform at your best. 

Con: Potential for Stress

You may think you can manage two positions but discover it’s more challenging than you expected. It may go well most of the time, but you could find yourself feeling overwhelmed at certain periods, like the holidays covering colleagues’ vacations, or during busy periods for one or both jobs. 

Con: New Responsibilities

If you’re running your own business as a side hustle, you’re in charge of everything. Are you prepared to tackle things like troubleshooting your computer and internet connection, sending out invoices and making sure you get paid and keeping accurate records for tax time? There can be a lot involved behind the scenes at a second job.

Find a Professional for Financial Advice

There are a lot of good reasons to get a second job and a lot of reasons you might want to reconsider. A Farm Bureau Financial Advisor can look at your overall income and expenses and help you come up with the best way to meet your goals. Reach out for a consultation today.