Friday, July 16, 2010

Reducing My Part Time Work

For the past 10 weeks, I've been working 40+ hours a week due to a temporary part time job for 30 hours a week that was supposed to last only six weeks. The job will end in the next few weeks as the work winds down. Since I've already met my original commitment for six weeks, I plan to finish early by making next week my last week.

I'm glad this temporary job is going to be over. In hindsight, taking on an additional 30 hours a week for a temporary job was a bit overzealous on my part. I thought the flexibility of working anytime 24/7 would make it feasible. However, working this job did end up cutting more into my personal time more than I would like.

Finally, taking the 30 hour per week job didn't reduce our withdrawal rate from savings by much. Our savings withdrawal rate is 3% and the 30 hour per week job only reduced it by 0.15%. Overall, it wasn't worth the time invested, since there were no employee perks associated with this job. However, I did get firsthand experience working a temporary government job and met some new people with whom I enjoyed working.

So I'm back to working 3 part time jobs for a total of 15-20 hours a week, which I feel is an appropriate balance for me. In the future, if I pick up a new part time job, I will drop an existing one.

For more on Reaping the Rewards, check back every Friday for a new segment.Photo

This is not financial advice. Please consult a professional advisor.

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