More South Africans are turning to moonlighting, side-hustles or holding down multiple jobs to ensure their financial security, the Old Mutual Savings & Investment Monitor 2022 shows.
The monitor shows that over half of working South Africans are turning to second income streams to extend their household budget – a trend which has grown over the last two years as many households were forced by the Covid-19 pandemic and lockdown to look for new revenue streams and access to finance.
There was a slight drop in people working two formal jobs , and those working a side-business , but there was a big jump in the number of people engaged in freelance or part-time contract work over and above their full-time jobs . The key to this is knowing the difference between the different types of side-jobs, and how they may or may not conflict with your current employment obligations.
A side hustle is typically defined as additional work which a person is more passionate about than their full-time day job that supplements their income. “However, there are circumstances in which this may not be allowed, such as being expressly prohibited in terms of the employment contract, a workplace policy, and when it actually or potentially harms the primary employer’s business, or when it negatively impacts the persons capacity to work.”
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