How A Side Hustle Can Boost Performance At Your Regular Job
A new study shows that moonlighting lifts your mood—and your effectiveness from 9 to 5.
A new study shows that moonlighting lifts your mood—and your effectiveness from 9 to 5.
Moonlighting may actually help you do better at your day job.
Hudson Sessions, an assistant professor in the department of management at the University of Oregon, noticed a few years ago that friends were keeping their full-time jobs but joining the gig economy on the side, such as driving for Uber or selling their art on Etsy.
So, he decided to research the phenomenon of side hustles—and found something surprising. Contrary to the popular wisdom, moonlighting doesn’t leave people worn out and unproductive from 9 to 5. Instead, side gigs can make people feel more empowered—and thereby more productive at the office.
Dr. Sessions and his colleagues—whose results were recently published in the Academy of Management Journal—posted ads on large social-media networking groups, asking people to take a series of surveys about the nature of their supplementary work. Participants were asked about the complexity of their side work; their motives for the work; and the empowerment they did or didn’t gain from their second job (that is, the extent to which they felt that they could control their supplementary work and its context).
The study showed that supplementary work frequently enables side hustlers to feel empowered by taking ownership of self-directed work—which was especially true for those who were motivated beyond making money, says Dr. Sessions.
“When people seek extra work to build relationships or help others, they tend to feel more empowered by their side hustle than if they just moonlighted for more income,” Dr. Sessions says.
In a second study, his team recruited 80 workers who had side hustles and had worked at their day jobs for an average of 10 years. They also recruited a co-worker of each participant.
Across two weeks, the moonlighters filled out a survey about their engagement and empowerment at the end of a day’s side gig. Then, the next morning, at their full-time jobs, they rated their mood and how much they thought about their side hustle. Their co-workers, meanwhile, rated the side hustlers’ performance on those same days.
Side hustlers self-reported that they were preoccupied with their after-hours gigs the next morning, due to being deeply engaged in that work.
That would seem to indicate that side gigs hurt their performance at their regular job the day after. But that wasn’t the whole story: The moonlighters’ colleagues rated their co-workers’ performance significantly higher on those same days.
So, the uplift in mood had a statistically stronger positive effect on employee performance than the negative effect of being distracted—even if the moonlighters didn’t see things that way.
“Organizations want exclusive rights to their employees, but perhaps that idea of ownership is misplaced,” says Dr. Sessions.
He believes that if companies restrict moonlighting, they risk losing employees.
“People need to choose their own path outside of their day jobs,” Dr. Sessions says. “For some, that means pursuing career development, personal fulfilment or just engaging with new and interesting people in a side hustle—all of which can elevate their moods and be beneficial to their regular jobs.”
Reprinted by permission of The Wall Street Journal, Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: November 1, 2021.
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For self-employed Australians, navigating the mortgage market can be complex—especially when income documentation doesn’t fit the standard mould. In this guide, Stephen Andrianakos, Director of Red Door Financial Group, outlines eight flexible loan structures designed to support business owners, freelancers, and entrepreneurs.
1. Full-Doc Loan
A full-doc loan is the most straightforward and competitive option for self-employed borrowers with up-to-date tax returns and financials. Lenders assess two years of tax returns, assessment notices, and business financials. This type of loan offers high borrowing capacity, access to features like offset accounts and redraw facilities, and fixed and variable rate choices.
2. Low-Doc Loan
Low-doc loans are designed for borrowers who can’t provide the usual financial documentation, such as those in start-up mode or recently expanded businesses. Instead of full tax returns, lenders accept alternatives like profit and loss statements or accountant’s declarations. While rates may be slightly higher, these loans make finance accessible where banks might otherwise decline.
3. Standard Variable Rate Loan
A standard variable loan moves with the market and offers flexibility in repayments, extra contributions, and redraw options. It’s ideal for borrowers who want to manage repayments actively or pay off their loans faster when income permits. With access to over 40 lenders, brokers can help match borrowers with a variable product suited to their financial strategy.
4. Fixed Rate Loan
A fixed-rate loan offers repayment certainty over a set term—typically one to five years. It’s popular with borrowers seeking predictability, especially in volatile rate environments. While fixed loans offer fewer flexible features, their stability can be valuable for budgeting and cash flow planning.
5. Split Loan
A split loan combines fixed and variable portions, giving borrowers the security of a fixed rate on part of the loan and the flexibility of a variable rate on the other. This structure benefits self-employed clients with irregular income, allowing them to lock in part of their repayment while keeping some funds accessible.
6. Construction Loan
Construction loans release funds in stages aligned with the building process, from the initial slab to completion. These loans suit clients building a new home or undertaking major renovations. Most lenders offer interest-only repayments during construction, switching to principal-and-interest after the build. Managing timelines and approvals is key to a smooth experience.
7. Interest-Only Loan
Interest-only loans allow borrowers to pay just the interest portion of the loan for a set period, preserving cash flow. This structure is often used during growth phases in business or for investment purposes. After the interest-only period, the loan typically converts to principal-and-interest repayments.
8. Offset Home Loan
An offset home loan links your savings account to your mortgage, reducing the interest charged on the loan. For self-employed borrowers with fluctuating income, it’s a valuable tool for managing cash flow while still reducing interest and accelerating loan repayment. The funds remain accessible, offering both flexibility and efficiency.
Red Door Financial Group is a Melbourne-based brokerage firm that offers personalised financial solutions for residential, commercial, and business lending.
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