Thousands forced to take second jobs

With the recession forcing many businesses to cut workers’ hours in a bid to control costs, thousands of people across Britain are taking on second jobs to avoid debt and mortgage arrears.

Rather than putting people out of work and potentially losing their skills during the downturn, companies have put 2.8 million people onto shorter hours in recent months.

But while having problems with debt or trouble with your mortgage may make a second job an appealing option, many experts have warned that it could make matters worse for you in the long run.

Peter Done of employment law firm Peninsula told the Daily Mirror that the strain of working two jobs can damage your health, your family life and even lead to mental disorders such as depression.

Part-time workers could also end up losing both their jobs if they are not careful about checking their contractual conditions. Many contracts include provisions forbidding staff from working for competitors.

Atlantic director Vance Parsons says that loss of income remains the number one reason for people starting a Debt Management Plan (DMP). He claims: "this is often as a result of shorter working hours or removal of overtime."

Debt problems – next generation

17/03/2011

Parents across the UK currently dealing with debt problems may be seeking debt help regarding their ...

Debt problems - life events

21/02/2011

It appears debt problems could well be made worse by Brits underestimating the cost of life's big ev ...

Brits get frugal over debt problems

11/01/2011

The average Brit is looking to avoid debt problems this year by making cuts to their lifestyles, in ...

Middle aged face debt problems

14/12/2010

People in their middle ages could soon be facing severe debt problems as it appears many of them are ...