Too much free time - should I get a second job or learn some skills?
September 26, 2014 8:03 PM Subscribe
So, I recently moved to a new (small) city and started a job with a government agency. I am finding myself with more free time than I need, so I was considering trying to get a second job to pay off some debt. My other thought is to use this free time to build some useful skills, possibly something like programming or web development. So what do you thing? Am I better off working for money to help pay off debt or investing my time in learning skills that could earn me far more money in the future?
With my availability, I don't see finding a 2nd job that will pay more than minimum wage, but even that would be helpful. On the other hand, my current position has a really long training period, and there is no guarantee that I will be kept on at the end (I plan on continuing to work hard, but it is not an easy job and even trying my hardest won't mean that I'll be good at it). So, it might be a good idea to beef up my resume just in case.
Some background: I have a BA in psychology and spent 10 years working in banking in a variety of roles, the longest of which was as departmental assistant. I didn't make very much money and should have left a long time before I did. I'd rather not give too many details about my current job because it is kind of distinct, but I can say that it has nothing to do my previous jobs and nothing to do with the skills I suggested learning. Also, I am open to suggestions on what skills are useful in the current market.
With my availability, I don't see finding a 2nd job that will pay more than minimum wage, but even that would be helpful. On the other hand, my current position has a really long training period, and there is no guarantee that I will be kept on at the end (I plan on continuing to work hard, but it is not an easy job and even trying my hardest won't mean that I'll be good at it). So, it might be a good idea to beef up my resume just in case.
Some background: I have a BA in psychology and spent 10 years working in banking in a variety of roles, the longest of which was as departmental assistant. I didn't make very much money and should have left a long time before I did. I'd rather not give too many details about my current job because it is kind of distinct, but I can say that it has nothing to do my previous jobs and nothing to do with the skills I suggested learning. Also, I am open to suggestions on what skills are useful in the current market.
I think this really depends on the size of the debt.
posted by DarlingBri at 8:15 PM on September 26, 2014
posted by DarlingBri at 8:15 PM on September 26, 2014
Response by poster: Good questions DarlingBri. I have about 12,000 in student loans and 4,500 in credit card debt. I'm not so worried about the student loan debt, as 8,000 of it is at less than 2% interest, but the credit card debt makes me nervous. I have about 4,000 that I could withdrawal from a Roth IRA without tax implications or penalty and I have considered just using that for the credit cards, but that would leave me without a cushion in the case of an emergency.
posted by aka_anon at 9:24 PM on September 26, 2014
posted by aka_anon at 9:24 PM on September 26, 2014
No, leave the IRA.
$4,500 is the kind of debt you actually can pay off or drastically cut into in a year with a part-time job. It's a limited time investment for a specific return, one that will in turn free more monthly income once you've paid off the cards. I would totally do that.
posted by DarlingBri at 9:57 PM on September 26, 2014 [3 favorites]
$4,500 is the kind of debt you actually can pay off or drastically cut into in a year with a part-time job. It's a limited time investment for a specific return, one that will in turn free more monthly income once you've paid off the cards. I would totally do that.
posted by DarlingBri at 9:57 PM on September 26, 2014 [3 favorites]
I did take some classes on web stuff when I had free time at a prior job and it wasn't super duper useful. I mean, I guess I can add to my resume if I wanted, but usually the people doing web development stuff are actual experts in web development who do that as their job. And when you never do it, you sort of start to forget it. And technology is changing all the time anyway, so I figure it's sort of outdated. Like I learned how to write Flash stuff, but now don't people use HTML5? If you work in banking, is there some sort of finance-related certification or something you could get instead? If you're going to the job skills classes route, I'd make sure it actually seems useful.
With another job, I actually took Spanish lessons and guitar lessons. You need to devote a lot of time and be serious about practicing to get anything out of those, I felt. The Spanish was especially hard because it just wasn't enough Spanish. I'm not sure I totally recommend these. For me it was just fun, especially with guitar. Spanish may actually be something to help your career, but learning to be fluent in a language is a lot harder than learning to do stuff in a computer program.
With another job, I chose to do freelance writing on the side. It sort of took the place of a hobby or downtime. Instead of watching TV or whatever, I'd write regular columns and articles for publications and get paid to do it. So far, I think that was the best use of my time because I was getting paid and I was developing skills/gaining additional experience in a job that was not the same as my normal day job. It kind of gave me a second potential career track (albeit, not as secure as my main one). It was also something I could've never done full time because it simply didn't pay enough. So I got to do both my normal job and this other more dream-type dream.
Looking at all my experience, I think I'd go with the second job, and if you can make it something that is actually useful for your career aspirations or for your current career track, try to do that. I mean, if you wait tables, that's fine and maybe you'll make more money than, say, freelancing. But, if it's not 100% about the money, maybe you can do both: help your career and get a little money on the side. Maybe there's not a job that does both for you, but I'd think about that.
posted by AppleTurnover at 1:19 AM on September 27, 2014 [3 favorites]
With another job, I actually took Spanish lessons and guitar lessons. You need to devote a lot of time and be serious about practicing to get anything out of those, I felt. The Spanish was especially hard because it just wasn't enough Spanish. I'm not sure I totally recommend these. For me it was just fun, especially with guitar. Spanish may actually be something to help your career, but learning to be fluent in a language is a lot harder than learning to do stuff in a computer program.
With another job, I chose to do freelance writing on the side. It sort of took the place of a hobby or downtime. Instead of watching TV or whatever, I'd write regular columns and articles for publications and get paid to do it. So far, I think that was the best use of my time because I was getting paid and I was developing skills/gaining additional experience in a job that was not the same as my normal day job. It kind of gave me a second potential career track (albeit, not as secure as my main one). It was also something I could've never done full time because it simply didn't pay enough. So I got to do both my normal job and this other more dream-type dream.
Looking at all my experience, I think I'd go with the second job, and if you can make it something that is actually useful for your career aspirations or for your current career track, try to do that. I mean, if you wait tables, that's fine and maybe you'll make more money than, say, freelancing. But, if it's not 100% about the money, maybe you can do both: help your career and get a little money on the side. Maybe there's not a job that does both for you, but I'd think about that.
posted by AppleTurnover at 1:19 AM on September 27, 2014 [3 favorites]
I'd go for the second job because I hate having debt hang over me. Especially because the seasonal retail jobs are coming up soon.
posted by Ms Vegetable at 5:38 AM on September 27, 2014 [1 favorite]
posted by Ms Vegetable at 5:38 AM on September 27, 2014 [1 favorite]
With the holidays approaching, I'd look for a seasonal gig. I recommend a department store that pays commissions if you can find one. I made a shit-ton of money working part-time at Macy's over the holidays. Thousands of dollars.
Start applying now!
What's nice about seasonal employment is that you're not committing to anything for the long term, so if you decide to get an advanced degree, or some other thing in the future, you can.
Jobs that pay better than minimum wage are server jobs. You can get night and weekend gigs tending bar or serving. Again, you pick up shifts as you want them, and it's an easy, breezy environment. "Hey boss, I'm out for a couple of weeks, but Jessica said she'd cover my shifts for me." Don't pick a corporate place, just a neighborhood joint.
If you're in a bigger city, catering gigs can be just as good. You can work when you want to, and leave off when you don't.
I moonlighted for years and I met some of my best friends that way and I had a ball!
posted by Ruthless Bunny at 7:17 AM on September 27, 2014 [3 favorites]
Start applying now!
What's nice about seasonal employment is that you're not committing to anything for the long term, so if you decide to get an advanced degree, or some other thing in the future, you can.
Jobs that pay better than minimum wage are server jobs. You can get night and weekend gigs tending bar or serving. Again, you pick up shifts as you want them, and it's an easy, breezy environment. "Hey boss, I'm out for a couple of weeks, but Jessica said she'd cover my shifts for me." Don't pick a corporate place, just a neighborhood joint.
If you're in a bigger city, catering gigs can be just as good. You can work when you want to, and leave off when you don't.
I moonlighted for years and I met some of my best friends that way and I had a ball!
posted by Ruthless Bunny at 7:17 AM on September 27, 2014 [3 favorites]
Yeah, I'd go with the debt reduction too. It's a sure thing and you'd meet new people.
posted by dawkins_7 at 10:40 AM on September 27, 2014
posted by dawkins_7 at 10:40 AM on September 27, 2014
This thread is closed to new comments.
posted by anadem at 8:10 PM on September 26, 2014