Depending on your situation, starting a part-time job might be better than a side hustle. Both come with their pros and cons but have stark differences when it comes to income that can be generated.
Side hustles and businesses give you the chance to make as much or as little money as you can. If you’re a creative and savvy businessperson, you can make more money working fewer hours than any part-time employee ever will.
However, getting a second job is easier than starting a side hustle. It’s a guaranteed source of income, you don’t have to invest any creative thinking in the process and you know your hours in advance.
Let’s dive a bit more in depth about a side hustle and a part-time job.
Reasons to start a side hustle
Doing side hustles provides all kinds of different freedoms. If you’re a reseller then you get to choose when you want to source items, when you want to list items for sale and when you want to ship them out.
The same rules go for most other kinds of side hustles. Writers decide when they want to write. Artists decide when they want to draw. The side hustler gets to decide when they want to do their work and for how long.
Also, the earning potential for someone doing side hustles is higher. You can scale a side hustle over time to become more profitable. A little bit of success can lead to a lot more. Part-time jobs lock you in at the same rate of pay no matter how good your work is.
However, there are drawbacks to side hustles. You could spend a lot of time on a side hustle that doesn’t work out and not make any money. It’s tough for new side hustlers to learn how to get paid consistently from their work.
Also, you’ll have to think for yourself as a side hustler. You have to find ways to make money and not rely on someone else to hand you a paycheck. Creating your income is the only way you’ll earn money.
Reasons to start a part-time job
Working a part-time job gives you a lot of security.
- You know you’re going to get some hours.
- You know when your next paycheck is coming.
- You know your job likely won’t take much brainpower to complete.
These are all great attributes for anyone who needs to earn more money right now. Your pay is nearly guaranteed and you have a set schedule to stick to.
Also, you don’t have to reinvent the wheel to earn your money. Most times all you have to do is show up and complete brainless tasks (nothing wrong with that).
However, part-time jobs can zap your time away and leave no room for advancement.
Even if you have no customers to wait on or work to do, you have to sit at your part-time job until your time is up. If something comes up last minute and you need to call off, you run the risk of getting fired.
Having a part-time job means your time is truly tied up and belongs to someone else.
Which is right for you?
If you have existing income and you’re looking for more money in your free time, I suggest starting a side hustle. It won’t ruin your lifestyle and if all goes wrong, you still have money coming in from your consistent income.
If you need to quickly raise your income within the next month then I suggest getting a part-time job. It‘s more secure and you can estimate when your next paycheck will come.
If you have the time, you can always try both at the same time and see how it goes!