Recently, I read somewhere that 48% of Canadians experience monthly stress as they are within $200 of not being able to pay their monthly bills. Do you feel like you are in this situation?
During discussions with other individuals, I agree that the cost of goods have gone up (i.e. $20 today does not take you very far) and housing (i.e. price of the house and costs associated with owning of a house) costs are exorbitant but ,in my opinion, the level of materialism for individuals has increased significantly (i.e. many people are guilty of comparing themselves with others; more and more individuals are in “friendly” competition with others whether they like to admit it or not).
Growing up, I don’t recall many adults working multiple jobs. Throughout my years of practice as a Registered Dietitian, I have counselled many individuals who have had to work multiple jobs (a minimum of 2 or 3 jobs) to make ends meet. Nowadays, it is very common for individuals to have a side hustle.
I’m not against individuals having their own side hustle. It’s incredible to see how someone’s passion (i.e. side hustle) could turn into his/her dream job. I have a side hustle too. 😉
The questions I’d like you to ask yourself include:
- Are you able to save the extra income?
- Has your physical health deteriorated as a result of your side hustle?
- If your physical health has deteriorated, is the extra money worth it? Are there any areas in your life where you can scale back? What is a “nice to have” vs. a “need to have”?
- if you are spending the extra income, how is it being spent?
- Is it being spent on “stuff” to achieve your satisfaction in owning materialistic things?
- Is it being put towards investments to help build future financial stability?
- Is it being spent on services to help keep your sanity (i.e. cleaning service, ready to serve meals, psychologist, massage, spa treatments, etc)?
- Is it being spent on experiences and/or items so that you can keep up appearances among your circle of friends?
- Is the money being spent on experiences and/or items so that you can feature it on your social media feeds?
Often times, working extra hours will cause an individual’s health to suffer whether it is from a lack of time for meal preparation for the week or a lack of time for physical activity and/or a combination of both.
Food For Thought: Is the extra money worth it? Extra money is always good but make sure you still have time to meal prep and time to exercise. If your health has suffered due to working a side hustle, are there areas of your life where you can scale back? Without your health, you can’t enjoy the luxury of life. 😉 Your health (mind, body and soul) is your best investment!!