These days, increasing number of people rely on multiple sources of income, whereas earlier they used to be employed to a single employer. The primary reasons that are attributed to this are the significant increasing cost of living and curiosity to explore potential earning sources. The key advantages of this are the improvement in standard of living, and the social status while the major disadvantages are unable to focus on each job and weaker family bonds.
Firstly, one of the reasons behind the increase in number of people approaching for several earning ways is the increase in living expenses. As a result, money earned from single job is not found to be sufficient. Another reason for this is individuals are eager to know more about additional earning methods. As a consequence, people are investing in active as well as passive sources of income.
On the one hand, one of the key merits of this phenomenon is the upgradation of living standard. This results into better education, improved healthcare facilities, as well as quality of diet. Also, the second important benefit is the upgradation of the social status. As the amount of money earned increases, spending of people increases too. As a result, people buy expensive and branded stuff which they show-off in their circle.
On the other hand, one of the many demerits to this is people fail to concentrate on a every single job they are involved into. This results in heavy financial loses and sometimes they are laid off too. Furthermore, another ill-effect of this is the reduction in the strength of the family bonds. Since multiple jobs consume lots of time, people are left with no time to spend with family.
In conclusion, there is an increasing trend of people getting involved in numerous jobs these days rather than single employment like olden days. The main reasons are non-reducing living costs and eagerness of people to explore various earning methods. Improvement in quality of living and social status are benefits while lack of concentration on every job and decrease in strength between family are disadvantages.