You’re asking yourself “should I quit my second job?”
First off, be proud of yourself for taking on a second job. Juggling one job is difficult for many. There are not a ton of people out there that can say they’ve ever worked a second job for very long, if at all.
There are many reasons you could be considering leaving your second job. Let’s consider some of these and help you carefully think through this difficult decision.
We are going to look at it from many different perspectives to help you decide what is best for you.
I suggest taking out a pen and notepad. Make some pros and cons as you work your way through the article. The thoughts floating in your head are much easier to be analyzed if you get them in writing.
Let’s start with the obvious….money.
The Money From Your Second Job
Obviously, the more money we all have coming in, the better. But think about where the second job’s money is going.
Do you depend on the money from your second job to pay your regular monthly expenses?
Are you building up your savings? Do you have a fully funded emergency fund?
If you can pay your bills without the second job, and you are not contributing to savings, where is the extra money you’re bringing in going?
Is the second job not for saving, but for allowing you lead a more lavish lifestyle?
The simplest way to find out if you can make it through a month financially without your second job is to create a budget using only your first job’s income. Are you comfortable with the amount you’re able to place into savings and towards any debt with the first job alone?
If you are not comfortable, could you create a plan, utilizing the first and second job income, to get you where you want to be in a certain amount of time? More specifically, could you shift your focus to solely using the second job’s income to get you closer to your goals so that you can easily leave?
I can get through things that seem impossible if I make smaller goals to get to the finish line.
If you need to baby step this, create a separate bank account for the second job’s income. Don’t pull out from that account until necessary. Deep dive into the reasons why you needed to pull out the money.
Get your game plan and clear picture in writing so there are not any surprises if you do decide to quit your second job.
Emergency Fund
Before you completely quit your second job, I would take a close look at your emergency fund.
Do you have enough to support you through at least six months without your primary job?
If not, I would consider staying at the second job until you shuffle some things around to make room for contributing enough to your emergency fund so that you feel at ease were you to become unemployed.
Perhaps you could ask for an increase, promotion, or look for a different primary place of employment so that you could increase your emergency fund quicker.
Happiness
Do you love your second job?
Even if you do love your second job, is it exhausting you to the point of not loving life in general?
There may be other solutions to your situation if you’re happy with your second job. Consider cutting back on the hours you’re working the second job.
I have a side gig that I consider somewhat of a second job. It’s more of a side thing because I only work there approximately ten days a year. I really enjoy the work, atmosphere, and people I get to hang out with when I’m at the other job.
However, if I had to work that job 50 nights a year, I wouldn’t do it. Those ten days exhaust me and the second job’s income is no where near the same as my primary job.
In summary, it’s not only about being happy at your job. It’s about being happy with the impact a second job has on your life overall.
Time With Those You Love
Are you missing out on valuable time?
The second job may not be worth it if you’re sacrificing spending time with those that you love. Again, consider cutting back on hours or days if you still aren’t sure if you want to hang on to the second job for multiple reasons.
Time is something you can never get back. I’m not trying to be a downer here, but it is a real thing that should be considered.
If you’re considering quitting your second job because you would like more time with your family, there is absolutely nothing wrong with that and perhaps you should begin taking steps to make it happen.
The time you have for yourself is also important. If you’re constantly moving and you regret never having time for yourself, there’s nothing wrong with that.
Check out LifeHack’s article on Why Spending Time With Your Family Is Important for more.
Security
I’ve always liked the thought of a second job because of the additional income source it brings in. If something happens with your first job, you have some sense of security.
Having multiple income sources is a special thing that I didn’t realize people did until I was in my late thirties.
I thought there were an elite few people that were able to collect a check from different sources, but it wasn’t a common thing. I was really clueless when I thought working 9-5ish jobs was the way everyone made their money.
In reality, it’s smart to have the security of multiple income sources. Do you have another way to come up with an income source that gives you more personal time and freedom? Consider a hobby that you could turn into cash or a more flexible weekend source of income.
What about the security feeling you have in your first job? Have you thought about the likelihood of losing your primary job?
To read more on job security, BetterUp as a great article on The Secret To Achieving Job Security.
Putting The First Job At Risk
If you’re in any way putting your primary job at risk, quit the second job. Your first job is first for a reason and that’s most likely due to the income you’re bringing home from that position.
Although you may have felt at one time that you could juggle both, it is normal to get burnt out working so many hours.
You may be present at your first job, but are you so exhausted that you are not giving it 100% of your efforts? Are you leaving early or coming in late some days?
A second job could be holding you back from a promotion or pay increase. If you were able to earn more money at your first job, would you even require the second one?
Take a step back and see what you could do at your first job to improve your status if you quit your second job.
Where To Go From Here
You most likely have some time to figure this out. Don’t rush to a decision.
Make sure you leave on good terms so that you can come back later if you choose to do so.
If it’s possible, try to cut down your hours before you completely say goodbye.
Personally, I’m a fan of second jobs for a short period of time to get you financially where you want to be, especially if it means paying off high interest debt quicker.
If you’ve had the second job for some time and you feel like you have done nothing but pay your normal bills, take a step back and look at your finances overall. It’s easy to start lumping in your second job income with your first and depend on both incomes.
It’s critical to have a budget and a plan for the income you are bringing in.
Start fresh with your budget if needed. Making a game plan will help guide you through the final steps.
Do not feel any regret for leaving any job. Remember to never burn any bridges when you quit. You may need the connections later in life.
Best of luck to you with your decision.
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