7.7 million Americans are left with too many months at the end of money. Here’s how to work extra work without losing your sanity in the process.
We continue to live in uncertain times even as the calendar shifts to 2023. Economic forecasts continue to indicate that a slowdown, or even a full-scale recession, is likely in the months ahead. This news becomes even more disturbing when you consider the number of Americans, especially those in the younger generation, who are already struggling financially.
More than 400,000 Americans work two full-time jobs, according to data from the Bureau of Labor Statistics. That is, as of September 2022, more than 7.7 million workers, or 4.9% of all of the more than 164 million workers in the United States, held two or more jobs.
With the rising cost of living – from rents and mortgages to interest rates and food costs – young workers, who may still be learning to manage their personal finances, are being pushed to take on a second job to make ends meet and continue to live the life they are used to living.
“Many report that as the cost of living rose, they started living paycheck to paycheck and taking on second jobs, which gives them comfort,” says Rebecca Croucher, SVP Marketing & Sales Enablement, ManpowerGroup NA. “Many young people are trying to earn enough money to start saving more and have said the extra pay they get each week gives them a big boost.
“The extra cash also helps reduce financial stress and anxiety.”
While the good news is that chronic staffing shortages in retail and hospitality mean there are still plenty of part-time jobs open for these young people, it can be difficult to work more than just one. job or a side gig at a time. Here are some of the challenges that multi-job holders face and some reminders on how to deal with them.
Two jobs, one for you
Working two jobs can be very difficult, especially if they have conflicting schedules or demands. It can harm someone’s mental health. It can also lead to fatigue and burnout, which can affect your performance in both jobs.
“It’s also a problem because you have less time for self-care and other activities that can help reduce stress,” Croucher says. “This can make it difficult to strike a good work-life balance, which can further contribute to feelings of stress and burnout.”
Working two jobs can be physically and mentally draining because you’re constantly on the go and you may not have much time to recharge. This can lead to reduced productivity, not to mention an increased risk of errors or accidents.
“It’s important for people who work two jobs to make sure they take care of themselves and find ways to manage the additional responsibilities and demands that come with having two jobs,” says Croucher. “This can include finding ways to manage stress, setting boundaries, and making time for hobbies and self-care.
Croucher also suggests that it may be a good idea to communicate with your employers about your situation and see if there are any accommodations that can be made to help manage your workload.
“Overall, it’s important to carefully consider the pros and cons of working two jobs before making a decision,” says Croucher, “since working multiple jobs may not provide the opportunity for career advancement and can make it difficult to pursue further education or training.”
How employers can help
Generally speaking, it is none of an employer’s business whether an employee takes another job as long as the employee is able to fulfill their job responsibilities and does not violate any company policies. .
“But employers may be interested in having an employee take another job if it could potentially impact their performance or attendance at their main job,” Croucher says.
Employees who hold multiple jobs may have unique needs, such as flexible hours or time off to accommodate their other job. Employers could benefit from remaining sensitive to these needs by being open to discussing the employee’s schedule and finding ways to meet their needs, such as offering the option to work remotely or giving them additional time off.
“It’s important for employers to understand and support their employees who work multiple jobs, as this can be a significant source of stress and can affect their overall well-being,” says Croucher.
Tips for overcoming burnout
Since working multiple jobs can be difficult, it’s important to take care of your mental health to avoid burnout. While every situation is different, Croucher offers a few tips that might be helpful in finding balance in your life if you find yourself working multiple jobs:
- Set limits: It can be helpful to set clear boundaries between your work and personal life, to make sure you have enough time to rest.
- Take breaks: Make sure to take breaks throughout the day Even a short break can help you stay focused and avoid burnout.
- Get enough sleep: Do your best to get enough sleep each night to ensure that you are well rested and able to meet the demands of your multiple jobs.
- Take care of yourself: Take time to take care of yourself by engaging in activities you enjoy, such as exercising, spending time with friends and family, or pursuing hobbies.
- seek support: If you feel overwhelmed or struggling with your mental health, don’t be afraid to seek help from friends, family or a mental health professional.
To this list, I would add one more: call on the people around you to help you. Trusted friends and family members can hold you accountable for getting the rest you need, as well as filling in the gaps you will inevitably have. Everyone needs a support network, and there are times when you need to rely on it more than others. Just be sure, when your workload changes, to pay for the support you received.
make it work
Listen, I’ve been there – I’ve had to work multiple jobs at the same time a few times in my life. And I know how difficult it can be, both mentally and physically. That’s why it’s also essential, especially if you’re someone just starting out in your career, to learn some of the financial skills that can help you grow your money and maybe eventually focus on one job.
But you also have to “do you”, as they say. So, if you have that irresistible entrepreneurial spirit and see having multiple jobs as the route to helping you achieve your ultimate goals, go for it! Remember to take care of yourself along the way.