Would you take a part-time job for minimum wage?

Last night, when I should have been going to bed, I started working on my 2011 cash flow/budget.

Go ahead and insert any keener jokes now!

I realize that 2011 is more than six months away.  I’ve been collecting a few notes about payments and revenue expectations for 2011 that make it seem like a good time to get started. I’m not even close to being finished, but I have gone through and plugged in a few things before I forget about them.

As I was filling out the cells on the revenue side of the budget, I plugged in my current salary for my full-time job. I’m not expecting an increase, nor will I request one. These days, I just feel damned lucky to have it.

What caused me a bit of a pause was the area where I fill in revenue from my part-time job. Throughout most of 2010, I’m putting in a bit more time than I did last year. All of this time happens on the weekends and evenings. Most of the time, I take home minimum wage for this job.

When I first took on this part-time job, I had a different full-time job. I was making a bit less money and needed a few extra bucks. On the other hand, I do value both the part-time and full-time gigs, because they are dramatically different.  The full-time one is high-octane. The part-time one is not difficult to do and I usually don’t bring it home with me. Most of the time, both are fun!

This year with the part-time job I’ve put my hand up to fill-in for people who are away or sick, because I have a few financial goals this year.  Number one being to retire my line of credit debt, which rang in the new year at a balance of over $13K.

As I was drafting my budget I wondered if I’d be as helpful to my part-time colleagues to fill-in for them, or take on those early Sunday morning shifts? When the debt is gone, will I opt to lay in bed? Will there be another goal that will drive me to keep it up, like that vacation with the girls, new windows for the upstairs or that electric bike?  I wondered to myself, will there always be some financial motivation to keep doing it?

What would you do to help meet your financial goals? Would you work a second part-time job? Would you still do it if it only paid minimum wage but you enjoyed the work? Would you take it on to help with debt payments, savings goals or both?

Over the years, I’ve heard some friends say “I’m not working there, it’s only minimum wage, it isn’t worth it!” Sometimes, depending on the circumstance, it isn’t worth it.  I couldn’t work for minimum wage full-time and still live in this city with my two kids. I can see myself continuing my part-time work for a long time though. Perhaps I’ll make the choice to linger in bed on Sunday mornings next year, but those teeny tiny pay cheques add up. If you made an extra $100 a week, would it make a difference to your bottom line?

How would your goals change with that bit of extra coin? An extra $100 a week is $5,000 a year. Doesn’t sound too bad when you put it that way, huh?

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One response to this post.

  1. Wow! You are a keener 🙂

    Now onto answering your questions….

    Yes, I would consider working for minimum wage as long as there was no long commute as that would just eat up all the pay. I started a few businesses while I was on mat leave and also did some web consulting on the side just to see if I could actually avoid having to go back to work again (my previvous job required commuting 3 hours a day and then having to pay an enormous daycare bill for my daughter would mean I would only save very little at the end of the year)

    I started the businesses and they took off – which I’m very very grateful for! I got really busy that I quit web consulting and now working from home and taking care of my daughter is my full time job.

    My husband and I know that the businesses I have can only last so long so we have talked about what will happen in the future. Because of rising daycare costs, I will be staying at home with our children until they go to full time school and working as many jobs as my schedule allows – even minimum wage ones. I have no problem with that.

    Like some of your friends, I have friends with the same degree (engineering) as I have say “I would not be caught working in retail. I didn’t go to school to get paid minimum wage!”. I am quite offended when I hear things like that… mainly because they think they should keep up with the Joneses (have a fancy title beside their name, yet owe boatloads of debt because of high daycare costs and whatever else they think they should have – nice vacations, basement renos etc) and I’m telling them it’s a lost cause. I gave up and have decided to keep those negative ppl out of my life. I know what my goals are (take care of my family) so I don’t need their opinion on what I’m doing is right or wrong (I already know it’s right. HAHA!)

    Sorry for the long reply. LOL. As you can tell, my decision to stay at home has not been popular amongst my friends and I’m tired of ppl asking “When are you going to get a real job so you can go on a nice vacation instead of your road trips?”.

    Yes, if I made an extra $100 a week, it would make a difference to my family’s bottom line. I just need to find a job that is flexible enough to work with my schedule (which hasn’t been that consistent as of late) 😉

    Reply

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