Because of the country’s recent economic challenges, some Filipinos now hold more than one job. These side hustles enable them to make ends meet and further hone their skills.
But first, what is the meaning of side hustles? Side hustles, also known as side jobs, provide extra income beyond your regular job and primary source of income.
These jobs are often freelance or part-time, so they don’t cause conflicts with your regular job’s schedule.
However, there are a few pros and cons that you should consider before you apply for side hustles. What are these, you may ask? Let’s find out.
The Benefits of Having Side Hustles.
They Provide an Extra Source of Income.
The most obvious benefit of having side hustles is it gives you more money. With it, you can better provide for your family’s needs and pay off this month’s bills and debts.
Or, if you’re living alone, it provides you with extra money to enjoy your hobbies or as an emergency fund.
Side Hustles Helps You Learn New Skills.
Besides earning extra cash, another thing that you’ll receive from taking side hustles is additional skills.
This could be related to your career, such as learning how to do keyword research as a content writer. Honing and learning new skills can help you be more productive in your regular job or even get promoted.
Or it could be something new and unrelated to your current career, such as learning how to code while your main job is graphic design. Although it doesn’t benefit your regular job (at least not directly), it will help you become more versatile and open more job opportunities.
Side Hustles Can Be a Great Backup.
In this period of uncertainty, you never know whether you’ll still have a job to return to tomorrow. Because of this, having an additional source of income is a great way to financially secure yourself and your family today.
In fact, having a side hustle is what led me to become a content writer. I was aiming to be a teacher, and still do, after finishing college. Unfortunately, I could not find teaching work due to the pandemic.
Fortunately, thanks to a friend, I found a part-time writing job that helped me get on my feet. Later on, my experience in writing helped me land my current job as a content writer for Remote Staff.
Meet and Connect With New People in Your Side Hustle.
Similar to your regular job, you will meet and work with several people while working your side hustles. Through them, you’ll be able to forge new ways to approach your work, which can help you progress in your career.
In addition, meeting new people expands your social network. Besides making new friends, this can also open up better opportunities the next time you need to go job hunting.
You Can Turn Side Hustles Into Your Own Business.
Not all side hustles require you to work for someone else. There are others, such as selling homemade food or doing art commissions, where you’re your own boss.
If your ventures prove successful, why not turn them into full-fledged businesses? This helps you be more secure if something happens to your regular job.
Disadvantages of Having Side Hustles.
Your Side Hustles Will Eat Up Your Spare Time.
Of course, when you take one opportunity, you give up another. When you choose to get side hustles, you’re sacrificing a lot of your spare time for them.
Rather than getting some much-needed rest, seeing your friends, or playing video games, you would be spending it on your other jobs.
This can be even more problematic if you subscribe to hustle culture. Pouring your all into your regular job is one thing; doing it for multiple ones is another. If you’re not careful, you will increase your risk of burnout.
Side Hustles Can Split Your Focus.
Having several jobs at once can severely tax your focus if you’re not used to multitasking. This can lead to you stretching yourself thin and being unable to work at your best at both your regular job or side hustle. Not only that, but your relationship with your family and friends could also suffer from this.
Be Prepared to Face Even More Stress.
Obviously, if you’re going to work multiple jobs, you should expect to experience even more stress than usual. Besides dealing with your assignments, you also have to worry about taxes and other paperwork, especially if it’s your business. This can have severe consequences for your physical and mental health.
Working Side Hustles Isn’t Always as Profitable as You Think.
Compared to full-time jobs, the pay you receive from side hustles isn’t always stable. Sometimes you’ll earn big, especially if you’re working on a big project for your client. Sometimes the pay won’t even be enough to support you for a week. This is especially common to those trying side hustles for the first time.
More Work, More Pay… Right?
One of the most common ways to earn more money without asking for a raise is through side hustles. However, you should first consider the pros and cons of getting side hustles to determine whether you should start looking for them.
After you weigh the pros and cons of getting side hustles and decide to take on a few, Remote Staff is the place to go. Our jobs list has a wide range of online jobs you can apply to, so you won’t run out of options. So, what are you waiting for? Apply now!