In today’s culture, the 9-5 work life is becoming outdated. The rise of online entrepreneurship, freelancing, and self-employment is taking over. With the typical job, the work you put into it does not equal what comes out. Salaries mean earning caps, with no overtime pay and sometimes no extra days off for working more. Pay per hour jobs mainly have a minimum wage for maximum effort, with many people scheduled for additional work outside their contracted hours which leaves them with no free time to rest or recuperate.
With Covid, many people found themselves furloughed with extra time on their hands or without a job, ultimately leading to money troubles. But is there a way to earn more and work less?
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The 40 Hour Work Week.
The average workweek is around 40 hours. Long hours lead to poor self-care. There is less time to exercise, eat healthily and relax, which puts stress on the body and heart. Scientists agree that the ideal amount of time at work should be no more than 6 hours a day, concentrated in the mornings. The more time you spend in the office doesn’t always equal more pay or holiday time, either. Career progression and recognition often don’t happen in large companies.
So, why do we work this much?
A Working Relationship.
These hours sound normal to most people. However, it was designed for when men and women had prominent, restrictive roles.
Men would work 40 hours while women would stay at home to tend to the family and domestic jobs. It was not designed on the basis that both parties would do both jobs.
It’s estimated that single-parent households work around 80+ hours a week with work and domestic chores added together. These hours do not leave much time for rest and recovery. We’re not supposed to live to work, only.
The rise of hustle culture online has had a severe impact on how we view work. It has altered our perception of what is a healthy work-life balance. Our worth is equated by how much we work and how much money we earn. If your start-up business isn’t turning over seven figures, you’re doing something wrong.
The amount of money we make does not equate to our worth as people. How much we work does not make us more or less than someone else.
How Can We Change?
It is possible to work less and earn more. The number one way to do so is:
Diversify your Income.
To diversify your income is to have multiple sources of passive income that earn you money without actively exchanging your time for it.
These are things like investments, affiliate marketing, blog writing, ebooks, freelancing, selling digital products, and so on.
The idea is to have five streams of income that supplement your main one. These streams will earn you income passively while you wait. There are no making caps, and they work for themselves if you set them up right. Talk to an advisor, like Glen Clemans at CGC Financial for financial advice.
This is a contributed post.
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