Lesson 1: The Hidden Costs of Working Multiple Jobs
The hidden costs of working multiple jobs
If you're considering working multiple jobs, you're probably already aware of the benefits of doing so: additional income, developing new work skills, and maybe even exploring a new career path. Working another job may sound like a simple solution to some of your problems, but there are also some hidden costs you may not be aware of.
Watch the video below to learn about the costs associated with having multiple jobs.
Managing your schedules
When working multiple jobs, you'll need to be able to successfully manage your various schedules. This can be a difficult task for anyone. There's a lot you have to consider, and if you're not organized it can result in added stress and potentially losing one or more of your jobs.
If you work two jobs in one day, it's important to communicate with your employers about your availability. You need to make sure your schedules won't overlap with one another and that you have enough time to commute from one job to the other. When taking on a new job, it's best to share your general schedule with your employers so they're both aware of when you are and are not available to work.
It can also be difficult to take time off from multiple jobs. If you need a full day or longer periods off, you'll need to coordinate this among all employers, usually with advance notice.
Maintaining a healthy work-life balance can be difficult when you're working just one job. But when you're working several jobs, it's even harder. The more time you spend working, the less time you have to devote to areas of your personal life. These can include your family, relationships, leisure activities, and self-care.
Before picking up another job, you'll want to weigh the benefits against the time it would require of you. It's probably a good idea to discuss this decision with your family or significant other because they may be affected by it as well.
Working long hours can also be a source of stress. If you become too stressed or burned out, it can negatively affect your work performance. Stress can also have adverse effects on your health. Losing sleep, getting sick more often, developing anxiety, and altering your mood are just a few ways it can negatively impact you. If you feel like multiple workloads would be too much to handle, you may want to reconsider having another job.
Even though getting a second or third job may help you to earn more money, you'll want to be aware of any extra expenses they create as well. If you're commuting between jobs, you'll be spending money for the transportation between them, whether it's gas or public transportation costs.
If you have children, you may need to pay for child care if you or other family members are unable to be with them when they're home. You'll also likely have less time to prepare your own meals, which can result in you eating out more if you don't plan ahead for it.
While all of this may seem fairly negative, these hidden costs are just a few things to think about when you're considering working multiple jobs. If working two or more jobs just doesn't seem practical for you, you could also consider asking for more hours at your current job or seeking a new full-time job instead of multiple part-time jobs. Whether you decide to move forward with working additional jobs is entirely up to you and depends on your situation.