There are times when your finances don’t seem to suit your needs. This is especially true when you have kids who go to school, you’re paying for your car loan, you’re trying to build your emergency fund on top of your regular savings, or you’re saving up for a big purchase.
As for big purchases, such as house and land, Berstan Properties advises prospective buyers to make extra money through moonlighting. The proposition sounds exciting, but keep in mind that this is not without any repercussion. One upside of moonlighting, though, is that you get to acquire new skills that will make your curriculum vitae look good. But it is always a lot of work, so you might as well manage your expectations. Here are some things to keep in mind.
Speak with the Boss…
You may have an impression that your employer has nothing to do with your endeavour. But to be safe, you may want to talk to your boss. Some employers impose sanctions on employees who moonlight, and it’s better to stall that scenario by telling the truth. When you speak of your plans and your boss agrees, don’t forget to put have a black and white copy of the agreement. Make your boss understand that your moonlighting is not about your dissatisfaction at the job, and that you’re only doing it because you need extra money.
…And with Your Family
Your family should learn of your moonlighting so they won’t misunderstand you in cases where you miss a picnic and other occasions. Explain this carefully to your children. As for your significant other, you may ask them to take charge of some tasks at home in case you come in late.
Back to Budgeting Basics
You will have to revamp the way you budget now that you will get to earn extra money. To make sure that you can set some money aside, condition yourself that the income you will get in your second job will go into savings on top of the savings you make in your first job. Don’t forget to reward yourself a bit so that you stay motivated.
Health is the Real Wealth
Moonlighting is physically and mentally exhausting, so make sure that rest has a slot in your daily schedule. Dedicate some time to exercise and eat nutritious food.
These are only some of the things that will help you lessen the burden of moonlighting. If some problems arise, or your health is at stake, consider quitting the second job.