If you’re trying to pay off debt, cutting expenses can help - but that's only one tool at your disposal. You might need to increase your income to make real progress.
Many people think a side hustle is the best way to earn extra money. But before you sign up for a second job or start selling things online, think about this:
👉 You might be able to make more money faster by focusing on your current job.
Here’s why that’s a better place to start:
1. It’s Easier to Earn More Where You Already Work
You already have a job. That means your boss knows you, you understand the work, and you’re already dedicating a lot of your time to this. Try to maximize this opportunity by:
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Asking for a raise or promotion
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Picking up extra shifts
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Working overtime when you can
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Taking on new tasks for more pay
These options often pay better per hour than starting something completely new on the side.
2. You Save Time and Energy
Starting a side hustle often means working at night or on weekends. That can leave you feeling tired and burned out, especially if you already have a full-time job or a family to take care of.
Instead, focus first on making more money in the time you're already spending at work. Even if your hourly rate only goes up a dollar or two, you'll be earning more without sacrificing more time.
3. It Helps Your Career, Too
When you focus on growing in your current job, you're doing more than just boosting you income. You’re also building your future. You can:
These things can lead to bigger paychecks down the road - not just short-term income.
4. You Already Have the Advantage
It’s much easier to ask for more hours or a raise at a job where you’ve already proven yourself. If you do good work, your manager may be happy to give you more responsibility or better pay.
Tip: If you haven’t had a raise in over a year and your work is strong, ask for a meeting. Come prepared with examples of how you're provided value for the company.
When a Side Hustle Can Help
Once you’ve done what you can at your current job, a side hustle might still be a good idea - but only if it fits into your life. It may help if:
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You’ve hit the max hours or pay at your job
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You enjoy working on a hobby that makes money
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You want to try out a new career path
- You have the time and flexibility to take on a second gig
Just remember: be thoughtful in your search and be sure to look out for these side-hustle scams.
Final Thoughts: Start with What You Know
If you want to earn more money to pay off debt, don’t overlook the job you already have. It’s often the most straightforward way to increase your income - through raises, overtime, or picking up extra hours.
Once you’ve explored those options, then a side hustle can be a helpful next step.
Need support on your debt-free journey? Use Payoff Genius to build a Payoff Plan that maximizes every penny you earn.
