Traditional Part-Time Job vs Side Hustle: 4 Factors to Consider

Traditional Part-Time Job vs Side Hustle: 4 Factors to Consider

If it ain’t broke, don’t fix it! 

  • Side hustles are taken up to supplement an individual’s income. Primarily, side hustles taken up to help an individual make ends meet, accelerate growth in their savings or just for the fun of it!
  • A lot of the most popular side hustles today didn't exist in pre-internet times. Technology has removed a lot of the barriers to entry for part-time work.
  • It’s important to evaluate your lifestyle to decide if a side hustle is for you, as they are not for everyone for various reasons.

Nowadays, many people are working more than just their 9-5 jobs. They’re also taking up side hustles, defined as an additional job taken on the side of the main occupation. It presents a way of earning extra income. In this article, we’ll explain why there’s also nothing wrong with a traditional part-time job!

What’s Wrong With a Traditional Part-Time Job?

Absolutely nothing. Working in these traditional positions is a thoroughly respectable and, frankly, more stable and lower-risk alternative to provide additional income! If ultimately, what suits your current lifestyle best is to be working the night desk at 7-Eleven or flipping burgers at McDonald's, then don’t feel the need to take up one of the new side hustle opportunities. 

If you’re interested in taking up a traditional part-time job, many portals list part-time jobs, such as:

Why Maybe You Shouldn’t Set up a Side Hustle?

With all that said, while side hustles are generally a positive thing to pick up, not everyone will benefit the same way from having one. To help you decide if a side hustle is for you, here are some reasons side hustles might not be a good idea for you:

1. The Opportunity Cost of Spending That Time on Your Main Occupation

When starting, we recommend spending no more than 10 hours per week on a side hustle. Some people may even be financially better off spending the extra 10 hours per week on their main occupation. 10 extra hours per week spent on a sales or commission-based could lead to more high-value sales, overtime pay, increased annual bonus (based on % of annual salary or performance-based), or even a promotion. As such, consider the possible financial benefits if you invested more time in your current occupation instead.

2. You Are Not Allowed to Do a Side Hustle

Not all employers will allow you to have a side hustle on top of your main occupation. Make sure to look for non-compete clauses in your contract/employment agreement before starting anything, and remain transparent with your employer. Moonlighting, or doing your side hustle in secret, may seem attractive, but the consequences can be dire if discovered.

3. Side Hustles May Drain You

 Side hustles require a lot of energy to keep up and it’s an extra workload that you have to cope with. Without proper planning, stress can put both your physical and mental health at risk. If your main reason for a side hustle is just to make ends meet, then do consider a less taxing alternative, such as changing your spending and budgeting habits.

4. Lost Time Is Never Found Again

 Not everybody is at a stage in their life where they should be allocating an extra 10 hours per week, on top of their full-time occupation, towards a side hustle. You might be starting a family, caring for elderly parents, or even just taking a mental break in this season of life. In any case, it’s important to allocate your time according to what matters most to you in your life stage.

WHAT'S WRONG WITH A TRADITIONAL PART-TIME JOB? COMPLETED. ✅

Sources:

  1. https://www.cnbc.com/2018/09/28/people-start-a-second-business-for-a-lot-of-reasons-but-mostly-its-this-one.html 
  2. https://mms.businesswire.com/media/20180925005605/en/680213/1/TheHartford_Side_Business_Survey_InfographicFINAL.pdf 
  3. https://www.usatoday.com/story/sponsor-story/godaddy/2017/12/12/how-people-side-hustling-around-globe/108532604/

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