Do you want a secure financial future? Save extra income

As we continue to adjust to life during a pandemic, side work may become one aspect of the future

Within months, rapid changes led to remote working. According to Gallup, 7 in 10 earners now work from home, and in the US the unemployment rate fell to 8.4% in August 2020, although the number of available jobs remains well below levels. pre-pandemic.

The global pandemic has redefined what it means to have a job and financial stability. The coronavirus has challenged many businesses and professionals to act quickly to mitigate losses and respond to the disruption and confusion of trying times.

With people spending more time indoors than ever before, side work has become an opportunity not only to occupy time after work when leisure is plentiful, but also as a way to manage their work and achieve financial security. As we continue to adjust to life during a pandemic, shadow work may become an aspect of work in the future.

Genesis of the side business

According to Webster's Dictionary, the term "side hustle" first entered the language in the 1950s and was used to refer to work performed by an individual to generate extra income in addition to their main job.

• People do side work out of necessity and as a form of economic survival

But the word “hustle” gave the impression that this work could be legal and could be fraudulent, and eventually the term came to refer primarily to legal aid work.

In recent years, side work has become linked to his hobbies and passions, such as photographing weddings or making and selling handmade products, giving you extra income.

Today there are still millions of unemployed and the world is still facing the health crisis, so people are resorting to parallel work out of necessity and as a form of economic survival, at the same time the current conditions have led to rethink the modernity era. A view of what we consider a stable or unstable career path.

Many people see a side job as a boon, that they have to continue working there full-time due to loss of main job, or part-time in order to save more money for security finance in this unpredictable environment.

In the future, learn more about parallel work

The pandemic has disproved the idea that the only way to achieve financial freedom is to do a traditional 9 a.m. to 5 p.m. office job. In this turbulent time of mass layoffs and declining wages, shadow work can provide a safety net.

Work at home

Today's unprecedented reality demands greater financial security and job stability for everyone in the world. A side job can be the first step toward a self-directed, recession-proof career path.

Industry trends to support shadow work

With the onset of the Corona pandemic, a flurry of activity emerged as entrepreneurs tended to set up side businesses to meet the growing needs of people who relied on working from home or via the internet. For example, e-commerce and retail (direct from manufacturer to seller without distribution channels) have flourished.

Some of the parallel activities that have sprung up in cyberspace include remote exercise sessions, life counseling, and video product promotion such as promoting homemade products.

With the spread of home office work and the increased need to bring certain outdoor items indoors, some merchants began selling indoor plants and plant supplies, and when gyms closed, merchants began selling sportswear and yoga supplies for the home.

• Running a side business has become the new norm for many professionals, providing potential career opportunities

To develop your side business, start by thinking about how you perceive time. After the pandemic passes, will you use the time to expand your network, connect with people from other industries, and expand your opportunities and skills? If you graduated from college, would you study for your neighbors or generate extra income by editing a classmate's paper for a friend? Here are some examples of productive development so that you can eventually start a side business.

work-life balance

In a rapidly changing and unpredictable world, achieving a permanent work-life balance is difficult, but in the wake of the pandemic, more and more people are putting life and work first.  Maintaining this balance is essential for mental health and personal and professional relationships.

It is only in recent months that technological developments have created opportunities for increased accessibility to shadow work. Achieving a work-life balance and having more time has allowed many people to make choices, such as taking time off from full-time work when they need to care for children or a limb. family, or stick to a job.  They love it but it doesn't generate enough revenue.

In the near future, running a side business could become the new normal for many professionals, offering potential career paths that support mental health and sustain through the pandemic and beyond.