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Makign extra $

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  • Makign extra $

    Working full time at ajob with good potential down the road, but just not having the pocket $ I would like. Considering taking on a side job in the evenings just to make a little mad money. Is it worth it? or should I just pull back on savings to enjoy life a bit more. I would consider the second job a temporary thing until my "career" takes a step forward.

  • #2
    I think it depends on your situation. Are you having any difficulty paying your bills? Are you behind on anything? Do you have any outstanding debt like credit cards, student loans, etc? If so, then I think boosting income is critical. If not and you just want more "blow" money, then a 2nd job is more of a lifestyle choice than a financial necessity. Also, look at how much you are currently saving. Are you putting 15% toward retirement? Are you saving for other future needs? If not, that makes the 2nd job that much more important.
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
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    • #3
      If you want to get an extra job just to have more "fun" money, then be aware that working a second job will take a good chunk out of your free time, and working long days at two jobs will tire you out. You may be too exhausted at the end of the day to go out and have much fun at all. Having a second job is a good way to pocket extra money, but not a very good way to have more money for your social life.

      I have a second job, and while I have plenty of extra money, I am either not able or just to tired to go out with my friends and spend it on anything all that often.
      Brian

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      • #4
        If you're young, single, on top with your bills, and already saving, I say go for it. My motto is I'd rather be making money, than spending money. Is it worth it? Thats all on you for priorities with time, family, friends, sanity, etc. Or if you can make money off a hobby or an interest you enjoy, even better. Just don't burn yourself out as I've done in the past.
        "I'd buy that for a dollar!"

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        • #5
          3 questions: as a percentage of your take-home pay (after tax)...

          - how much do you spend on housing? (rent + renter's insurance, or mortgage + taxes + insurance)
          - how much is your car payment? (if any)
          - how much goes to other debt payments? (student loans, credit cards, personal loans, etc.)

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          • #6
            Things to avoid:
            Working a second job that tires you to the point that your performance suffers at job #1. It's not worth a little extra money to potentially delay career advancement.

            Working a job that sacrifices other priorities like time with family/friends when the money is not needed for necessities.

            Ideas for 2nd job:
            Find something that has few hours so that you have time to enjoy the extra money you're earning. I teach GRE prep classes on the side. I get paid a good hourly rate, but only work a few hours, some weeks its zero because I'm between classes, others is 3-6 hours/week if I've got 1 or 2 classes running. Not enough to interfere with my day job or take away all my free time, but still decent money.

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            • #7
              Well, that depends on your willingness to work for longer hours. Also, you need to be prepared physically for taking another job. You also can get a few extra cash from your savings.

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              • #8
                Any extra $ is a good buck. No one would turn their heads away to an open opportunity to earn extra. We have to admit, we all need it. I myself has accepted that getting a part time job besides the normal 9 to 5 day job is pretty much rewarding. You just have to take time to choose what you would do.

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                • #9
                  I can't tell you how many extra jobs I have taken in my life just to have some play money.

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                  • #10
                    I would make adjustments to my spending if I ever had to consider a 2nd job. Life is too short to be spent at work.
                    Gunga galunga...gunga -- gunga galunga.

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                    • #11
                      I took a side job - freelancing but I made it complimentary to - but not in competition with, my full time job. Basically, my full time job is b2b marketing and I started a consumer blog. This everything I learn through my blog can be used at my b2b job or my next job.

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                      • #12
                        If you're young, ambitious and energetic, I don't see why you can't do it. Again, it depends on what your needs are - to build savings, buy a home, for holiday, etc.

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