So you work full-time, have a family you barely see, hardly make it to the yoga class you love, and only get six hours of sleep each night. Why on earth would you want to have a second job? There are many benefits to having a second job, and in many cases it may be worth the extra stress and time. Here we discuss the top five reasons why any professional woman should have a second job.
1. Your Full-Time Job May Be at Risk in This Economy
We are in an economic crisis and should count our blessings that we even have a full-time job. According to the Bureau of Labor Statistics, the unemployment rate continues to hold steady at 9%, and there are 13.9 million people unemployed in the U.S as of October 2011. How safe is your job?
In this down economy, a second job becomes your safety net. Unemployment benefits may not be enough, and your second job may pay even more than Uncle Sam. In this day and age, it’s a smart financial choice to have a second job.
2. The Extra Money is Worth It
You’ve been eyeing that Louis Vuitton purse, Jimmy Choo shoes, or Tiffany necklace, and just can’t find a way to scrimp and save your pennies on your current salary. A second job will help you purchase your luxury good of choice. But it’s more than that. Should you lose your full-time job, your second job will provide you the extra savings you need to survive.
3. Want to Move into a New Industry
Maybe you’ve lost that loving feeling for your job. Or perhaps your boss is a douchebag. Or maybe you never wanted to become a doctor, lawyer, CPA, or whatever professional you are in the first place. Whatever the reason, a second job may open the doors to the job you’ve always wanted. You can explore a completely different industry without having lost any income from your full-time job.
4. An Opportunity to Become Your Own Boss
The American Dream is to make it big and become a millionaire. Can starting your own business help you get there? “About two-thirds of American millionaires are self-employed,” according to the Millionaire Next Door, by Thomas J. Stanley.
However, starting your own business is risky business. The Small Business Administration found that “seven out of 10 new employer firms survive at least 2 years, half at least 5 years, a third at least 10 years, and a quarter stay in business 15 years or more.” If you start your own business while still having the income from your full-time job, you do not have the risk of losing your main source of income should your business fail.
5. Impress Future Employers and Resume Builder
If anything else, you can always use your second job as a resume builder. It will show any future employer that you are a go-getter and have initiative. Additionally, your second job may expand your skills set, and help you set yourself apart from other candidates that the employer is considering.