While everyone has their own reason, the following are some of the most common reasons to start up a side job while working another job.
1. Test a business idea
It's a huge risk to just leave a stable job and head into unknown territory, which is why many people decide to test the demand while earning a salary.
2. Maintain health insurance
If you have a family to support, it may be tough to afford health insurance as a self-employed person. Many people keep their day job just for the insurance and wait until their business becomes profitable to go full-time.
3. Save up for something
Some people just set up a side business to save up for something that would otherwise be impossible to afford, such as a house or vacation.
4. Save for retirement
With pensions disappearing and the future of Social Security in doubt, many people are taking the responsibility of putting aside as much as possible to fund their own retirement one day.
5. Build up cash flow
Before launching a full-time business, it can help to build up adequate cash flow from your business first, as this usually takes many months.