It’s one of those age old adages that time is money. Whenever people lose free-time in their lives it can take a toll on them financially, mentally, physically, and even emotionally. And although those who seek out second and third jobs do so to get some supplemental income, people usually only think about the financial gain that comes with additional employment.

It’s like the person who has unlimited talk and text on their phone, but doesn’t know how to send texts.  How is the unlimited texting beneficial to that person? Wouldn’t the person be better off with a prepaid cell phone? What good does having extra income do for a person if they have no time to manage their money, pay their bills, or enjoy their hard earnings? People can end up spending additional time and money having to find someone else to manage their money, Supplemental earners all to often feel like the needle-in the-haystack searching for time to do everyday things.

Because recent employment trends are showing that around 7-8 million people hold multiple jobs, there is definitely a need for people to feel comfortable working so hard. While working additional jobs can provide greater financial freedom, the chance to try out a new career, and more discretionary income to spend on holiday shopping, etc, it can come with a steep price.

Supplemental income earners need to take into consideration their commuting costs. It is important to find supplemental employment that is close to the full-time job’s location. If you have to spend additional time and money driving to other jobs, then you have to spend too much money on gas. Besides the additional gas expenses, you will have to deal with more wear-and-tear on your vehicle. It might be a better option to consider additional work opportunities that can be completed at home.

Besides gas and other commuting expenses, often second and third jobs require uniforms or the purchase of new clothing and shoes. Some jobs will require educational expenses such as certificates, office supplies, or additional insurance.

This means that people who do personal training, yoga instructing, etc, on the side, need to compare their rate of pay with the expenses. If the expenses are going to cost more than the pay, then working the additional jobs are not worth the time and money.

Supplemental income working professionals need to also make sure they are properly withholding taxes for each job taken. Most temporary, freelance, self-employed, and seasonal jobs will require the individual to complete quarterly estimated tax forms.

Those not aware of these requirements can find themselves in trouble with the IRS, which is no good. While filling out work-related tax deductions can make up for the costs of employing a professional to help with completing quarterly taxes, it depends on the individual situation.

Also, if you find that you are struggling to find the time to pay bills on time, then you need to reconsider working additional jobs. It’s always a good idea to sign up for automatic online bill payments, especially for necessities like the mortgage, car, and utilities. Another essential thing to consider is making sure that you only live off the full-time employment.

Always try to use the supplemental income to pay off existing debt, save for retirement, plan a vacation, or do some holiday shopping. This way if you lose the second job or something, you still have the money to pay your bills.

The bottom line is that while supplemental income workers is a trend here to stay, the disadvantages of working multiple jobs sometimes outweigh the benefits. Working multiple jobs can put you in a physical, mental, emotional, and financial mess. And it comes at no surprise that not being able to find work-life balance now can negatively effect your relationships with family and friends later down the road.