Taking a second job – like working overtime hours – isn’t an ideal way to generate extra cash. However, a short-term commitment to additional work can help you to move out from under unwanted financial pressures.
Most people have more than enough time in their schedule to take on another job. This isn’t absolutely and universally true, but there may be times when other doors simply do not open. If financial burdens are weighing you down, it’s better to get out from under them sooner rather than later, and more work can help.
With that in mind, there are several reasons why taking a second job is not ideal.
For starters, there is usually a cost associated with pursuing any profession. So even though you would be bringing home a second paycheck, you would also be incurring more expenses (vehicle maintenance, gas, clothing, food, etc.) as result of taking on more work.
Second of all, it doesn’t really get you any further ahead. Unless you are particularly good at budgeting, you’re going to have a tough time saving and managing the new funds. You won’t be able to do much with the additional income unless you’re really good at planning.
Third of all, at the risk of sounding like a broken record, if you are working for someone else, you are building their dream and not your own. In the long run, pursuing entrepreneurship could prove more fruitful. Amassing your personal wealth is unlikely to come from jobs in general.
Finally, a second job eats away at time you could be spending with your family or building your own business. Again, if more income requires more planning and organization, a second job will eat away at the time you could be spending in strategizing. If you have a significant other, you might want to enlist their help and support.
Despite these disadvantages, there is a time and place for second jobs, so don’t write it off completely. Best case scenario, if your living expenses are covered by your first job, your second job will actually give you additional income.
This might seem obvious, but if your second job is what’s keeping you afloat, you might have greater challenges ahead. Either you need to ask for a raise or get a better primary job, because the entire point of working at a job is to get your basics covered.
More than likely, taking a second job will just be a stepping stone on your journey to amassing wealth.