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:
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:
Asking for a raise or promotion
Picking up extra shifts
Working overtime when you can
Taking on new tasks for more pay
These options often pay better per hour than starting something completely new on the side.
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.
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:
Gain new skills that boost your resumé
Get noticed by your boss
Increase your chances of a promotion
These things can lead to bigger paychecks down the road - not just short-term income.
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.
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:
You’ve hit the max hours or pay at your job
You enjoy working on a hobby that makes money
You want to try out a new career path
Just remember: be thoughtful in your search and be sure to look out for these side-hustle scams.
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.