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Tuesday, October 7, 2008

Clocking in the extra hours in your current job or putting in the hours separately to build an alternative income stream?

Lazy Man's article prompted me to write this article.

We all want to have a comfortable life, provide good things for the family, etc. To achieve this, we see people spending more than half of their lifetime at work. They clock-in more hours as to accompish more task set by their bosses and impress them. Their full concentration and
undivided attention is given to their bosses (and job).Is this a smart move?

On the other side of the coin, we also get to hear people working more than 1 job at a time. Yes, multi-tasking is not limited to computers only. Beware computers, human beings are catching up! This is not something that was probably heard at all during our grandparents' time.
Some people prefer to have an alternative source of income with a 2nd or 3rd job.

What do you stand to gain by the first method - working longer & harder in your current job?
  • potential for promotion and enjoy the perks and benefits that comes with it
  • strong excuse when demanding for a pay rise
  • more responsibility
  • more security as some people see it

Advantages of the 2nd method - alternative source of income:
  • you set the targets of how much you want to make
  • work is based on your own flexibility
  • no one is blowing down your neck
  • you decide what you want to do to bring in the income (can also be a hobby that started to pay off)
  • if you are persistent enough, your alternative source of income can balloon into a main source and become your new career or business
Personally, I would choose the 2nd method (this blog is a proof of that! ha.. ha.. ha. :) ). Anyone has anything to share or have other opinions, please do.

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