Freddy Smidlap, came up with the idea that most of us generally overlook – that overtime is one of the most underrated side hustles ever. He got me thinking a bit about this after reading one of his posts when he was still working in manufacturing. I received his permission to elaborate further on the idea.
A lot of us easily get frustrated and yanking our hair out trying to earn more money, when the solution is staring at us straight in the face.
No! Not everyone will have this opportunity to take advantage of this (sorry salary people – I felt your pain working long hours for no extra pay years back). For everyone else who are hourly, try not turn down overtime work!
The employer is essentially paying you a premium for declining productivity – just to stay at work a bit longer!
1. Certain to be paid (and on time)
Many occasions when you are doing side work, people might skip out on paying you or they take forever to settle your accounts. This is quite irritating having to dedicate more time to follow up with your accounts to in order for customers to make their payments.
Some companies prefer to wait until the 30th-day ere they make payment. When you allow net 30, they will definitely take advantage of holding their cash as long as possible. Of course, that is if they even pay on time, or at all.
Unless your company you are working for is going out of business, you will be almost certain to receive pay. If your company is on the brink of collapse, they reasonably wouldn’t need you to work overtime anyway.
You would understand your own employer’s financials the best.
2. No commute time
You’re already there! Zero additional transportation time and cost!
How’s that for efficiency and no commuting?
If anything, you might even have less of a commute time by working OT since you are not going to have to drive in traffic when everyone else is going home at the same time.
Yes, there are exceptions if you are a field tech or something. For many people, they tend to work in just one location the majority of their time.
3. Extra compensation for producing the equivalent task
You are doing the exact identical work but at 1.5x pay rate.
What more could you ask for?
How about double time if you managed to struggle past 12 hours?
4. Zero upstart cost required
No additional skill training or education is required. You don’t need to be certified to work overtime.
There is no monetary investment obliged to make more money. Come on people!
What other side hustle can you say that you don’t need to invest any money or time into getting business? Even an MLM scam requires you to spend time recruiting people.
5. More contributions towards retirement
For those who do not hit their yearly 401k max, this is the chance. By earning more, you are also contributing more. In some cases, this will mean further matching from the employer as well.
It is such a damn good deal – more money on top of more.
For others, you can simply put the money away in an investment account or max out your IRA. The difference is that it won’t be tax sheltered.
6. If you have debt, this is a great way to put a huge dent in it
This will keep you from spending money while you are too busy working. It will also help you pay off your debt quicker by earning extra money.
If you can cut back spending in combination with aforementioned, you will pay off whatever loan in no time!
7. Management may even think you are a go-getter
It’s hard to not recognize someone when you see them all the time. And the fact that each time they see you, it’ll look like that you are busting your hump for the business.
Bosses like that.
Plus, if you do something a lot, you tend to get much better at it. Dare I say, even good?! Don’t you think those extra hours of paid practice will amount to anything? The more time you put towards anything, the more the trade will be perfected.
You betcha management will notice.
8. Free dinner
Some companies offer this. People working overtime are usually fed so they don’t die of starvation.
You just saved yourself some dough by eating work food and saved time not having to cook yourself. And that time is used to gaining more cash.
In addition, your urge to eat out will diminish since most of the food is likely catered in from a restaurant.
It’s like getting free takeout! YES!
A story of BART janitors utilizing their OT potentials to the max!
Being a janitor definitely isn’t a glamorous job. However, 3 janitors tried to maximize their earning potentials the best they could.
For those unfamiliar, BART stands for Bay Area Rapid Transit. They are a transportation authority in the Bay Area that operates electric trains. 3 of its janitors earned over 100k, just in overtime, by taking shifts that no one wants to take on.
Before anyone says that they are merely just “taking advantage” of the system, come to the Bay Area and ride BART. You will see some of the grossest stuff on the trains and in the restrooms.
Someone has to clean that up. I am certain most people wouldn’t do the job, even for an additional 100k, much less ask for more shifts.
The janitors were merely making money that no one else was willing to take. No one else voluntarily took the extra shifts offered to them. If the opportunity presents itself, you take it.
They merely knew that overtime is unquestionably the most underrated side hustle ever.
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