A side hustle can help supplement your income and give you a chance to explore new opportunities, however it can also stress you out and make you exhausted. Taking on a second job is the wrong decision for some people, but is it the right fit for you? If you’re considering a side hustle, weigh these pros and cons before you make a decision.
You’ll have more money
Obviously, if you’re considering a side hustle, one of the main reasons is most likely financial gain. You’ll be making extra money with a side hustle, and it’s an awesome feeling to have a cash cushion.
Learn from new and varied experiences
Taking on a side hustle means you’ll be meeting new people, completing different tasks, and learning new skills. New experiences will serve you well in all aspects of your life. If you can learn skills that would be useful at your full-time job as well, even better! Time management is one skill you’re sure to gain with a side hustle.
It could be an opportunity to do something you love
Do you have a hobby that you do in your free time? It could make a great side hustle. If you’re artsy or crafty you can sell your wares online. If you’re making it anyway, you may as well sell what you don’t need. If you love design, try out some freelance design jobs. You can expand your portfolio for extra cash. If you love pets, try pet sitting, if you’re a gardener, take some hours at your local plant nursery.
You can try it out before making the leap to a career change
A side hustle can be a great way to dip your toes into a different career. You can explore something you’ve always been interested in to get a better idea of what it’s really like. Your side hustle may come with opportunity for growth, so if you love it you can consider the possibility of transitioning to it for your full-time position.
Your eggs aren’t in one basket
With a side hustle comes a sense of security. If money was tight with just your full-time position, a side hustle will help alleviate some of that. Also, if something happens and you lose your full-time position, you won’t be completely without an income.
A side hustle will diversify your resume. Some employers love hiring people with a side hustle because it shows hard work and a desire to improve yourself.
You will have much, much less free time with a side hustle. You’ll really have to learn how to budget your time wisely, or things like personal relationships and your health could be negatively affected.
With more work comes more stress. You’ll have to balance your priorities and make sure that you’re not letting things slip. It’s easy to get burned out with a side hustle, and you shouldn’t take on more work than you can manage.
It’s important not to let your work at your full-time position falter due to your work at your side hustle. It’s easy for this to happen when you’re working two jobs. You need to define clear boundaries between both jobs and your personal priorities as well.
Working more means you’ll be more tired. You’ll feel exhausted a lot of the time. Less time to relax and recharge means that you’ll have less energy. Taking on a side hustle means working twice as hard, so you’ll have to make sure you also schedule some time to take care of yourself.
Usually less pay, less support, and no benefits
Side hustles are often part-time or freelance positions, so the pay is likely to be less than your full-time position, and less steady. You might have to file your own taxes, and a side hustle will also probably not come with any benefits. It’s important to ask questions and research your side hustle so you know that you’re being paid fairly or charging the right amount.
Side hustles can make a world of difference. They can help you through a financial difficulty, enlighten you to a new passion, and provide new opportunities. But they can also cause burn out and put stress on your personal life.
What do you think after weighing these pros and cons? Is a side hustle the right decision for you? Have you had a side hustle? Submit your experience with the various types of jobs you’ve had through the years on UltiCareer to let curious readers know what a day in the life of your type of job is really like.
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