As the saying goes, "Money doesn't grow on trees," which rings true for many Americans struggling to make ends meet in today's economy. Getting a second job has become a popular income supplement in recent years. According to Guardian, 400,000 Americans have a side hustle to get by. Why do Americans seemingly need two jobs to get by? This blog post will explore the reasons behind this trend.

The Great Hustle

It's becoming quite common for Americans to juggle two jobs. Sometimes, people do this to build up their savings, pay off debts, or enjoy a more comfortable lifestyle. But in many other cases, Americans have no choice but to take on two jobs - to make ends meet and cover basic living expenses. Here's a deeper look into why most Americans need two jobs today and how you can get into the trend without sacrificing your life.

Low Wages

One of the primary reasons why Americans need two jobs is inadequate income. Despite the rising cost of living expenses, wages have not kept up. The federal minimum wage has remained at $7.25 since 2009; many jobs pay just above that amount. With little room for upward mobility, many Americans feel compelled to get second jobs to make ends meet.

Underemployment

Underemployment occurs when an individual is employed but not to their full potential, either through part-time work or working at a job for which they are overqualified. According to a survey by CareerBuilder, 46% of Americans feel underemployed. This can make it challenging for individuals to make enough money from one job, pushing them to pursue other sources of income.

Health care Costs

Health care is a significant expense for many Americans. According to a study by the Kaiser Family Foundation, the average family spent $7,726 on health insurance premium costs in 2020. Even with employer-sponsored health insurance, out-of-pocket costs can be high, which could add to financial challenges. A second job can help individuals build an emergency fund to cover healthcare costs.

Personal Goals

Personal goals, such as paying off debt, saving for a down payment on a home, or planning a family vacation, also play a role in the desire for a second job. While saving for vacations or a new home can be a choice, paying off debt is necessary.

Many Americans are burdened with significant debt, including student loans, credit card debt, and car loans. The sooner these debts are paid, the sooner they can focus on using their income to save for their dreams.

The Gig Economy

Finally, the gig economy is changing how people work in the US. The gig economy refers to work done on a freelance or contract basis, such as driving for Uber, delivering groceries for Instacart, or offering services on sites like Fiverr or Upwork. The gig economy allows individuals to supplement their income on their terms and around their schedules.

How to Make it Work

If you want to join the millions of Americans with second jobs, there are a few steps you can take to make sure it works for you.

Update Your Resume

The first thing that your new clients will want to see is your resume. Ensure it's updated with the latest job experience and skills so you can put your best foot forward. If you don't have the time or experience to do this, consider using a free resume review service to help you. They can check where your resume needs improvement and help you create a great resume that will land you more job opportunities.

Create a Schedule

Planning is essential when taking on a second job. Create a schedule that will enable you to work both jobs without burning out or sacrificing your quality of life. Set a realistic timeline for yourself and ensure you can stick to it.

Set Boundaries

When taking on extra work, it's essential to know your limits. Don't take on too much that will overwhelm you or keep you from the other aspects of life that are important. Set boundaries with employers and clients regarding when and how often you will be available for work. This way, you can ensure your second job doesn't consume all of your time or energy.

With the right planning, attitude, and support system, having two jobs can be a doable feat - even if it's only temporary. The key is understanding why Americans need two jobs today, so you can decide if this trend is right for you. Once you decide to take the plunge, plan and set boundaries to make this new hustle work for you.