Many finance pundits love the side hustle, something everyone can do to make more money and diversify their income.
There are other advantages, too. Starting a small sideline business can teach someone many lessons about being a boss, valuable skills to learn. Many leisure hours are squandered, or even worse. People turn to the shopping mall when they get bored. And a side hustle can even lead to a new and interesting full-time career.
These are all good things, and it’s easy to see why so many people--millennials, especially--have more than one source of income.
But before you go and try to get a second job, make sure you don’t have opportunities to make more money at work.
An easy first step is to ask for a raise, especially if you haven’t had the conversation in more than a year. Act confidently and know your worth, and chances are you’ll get it.
Next, volunteer for extra work. Hourly employees have it easy. All they need to do is let management know they’re available to work any needed overtime. Most employees want nothing to do with overtime, so management will reward you for the willingness to stay extra.
Salaried employees have it tougher, but it’s certainly not impossible. Just explain to your boss that you’re happy to pick up additional work, but for a higher wage. It might not work out immediately, but it will eventually.
The bottom line? Earning extra at your existing job could easily be more lucrative with less work than learning a new side hustle. Keep that in mind if you’re searching for more income.
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