We live in a materialistic world. No matter how much money you earn in your main job, chances are, you end up in the red each month. Sure, it’s obvious that you need to rein in on your spending, but that would hurt your social life and mean you have to quit your four vacations a year habit. What’s a girl (or guy) to do?
The answer is simpler than you think. Assuming you love your current job and have no desire to quit for pastures new, the best solution to your financial woes is to look for a part-time job on the side. This has numerous benefits, which we will explore in this article.
Spending or Save?
Firstly, any additional income you make from a second job can be used to pay the bills, supplement your lifestyle, and even give you a nice little savings cushion, just in case life throws you some lemons. Think about it. Wouldn’t it be nice to have a few thousand dollars to spend on anything you liked? You could splash out on a pair of designer shoes, treat your boo to a weekend in Las Vegas, or use the cash as a down-payment on a new SUV. The point is, any extra money you earn is ‘extra’, so it’s yours to spend, guilt-free.
Secondly, additional income is a safety net in case your situation changes, and not for the better. None of us know what’s around the corner. Your fantastic job could bite the dust, your landlord could decide to increase the rent by 5,000 percent or your trusty car could die a tragic death. With a second job, at least you know you have some extra money coming in to cover the cost and keep the wolves from the door, metaphorically speaking.
Pay Down Debt
The only caveat to remember is that you should always pay down debt before you go on a spending spree. Debt is expensive, especially if you are a sucker for short-term loans. So, use any additional income you make to pay off credit cards, payday loans, and other debt before you save or spend.
Do You Have Time to Take on a Second Job?
This is the million-dollar question. In most cases, yes, you should have time to work a second job. If your job is not too taxing and you work regular hours, taking on a second part-time job at Walmart or Hooters won’t be too onerous (click here for a Walmart job application). However, if your job is extremely stressful, or you are a single parent with young children, a second job might be a step too far. Only you can make that call.
If you do take on a second job to earn additional income, treat it as a temporary thing until you know you can cope with the extra hours. Even if you only do the job for 2-3 months, at least it will give you a bit of extra money.
You never know, you might love your new job so much that it becomes your preferred career!
Author: Oliver Curtis
Hi there. I’m Oliver. I’m just a young boy from the outskirts of… Okay, that’s a lie, I’m not a young boy anymore, although I certainly feel that way at heart.