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LifeTuner Blog
How to Master the Job Juggle
Kimberly Palmer / Monday, May 14, 2012
Chhayal, a thirty-something videographer for news organizations, sounds like Jillian Michaels of The Biggest Loser fame as she leads a fitness class in downtown Washington, D.C. Dressed in a headband and green and white Lycra, she exhorts her class of a dozen students to work harder as they lift weight bars.
Chhayal moonlights as an aerobics instructor for the extra financial stability it gives her. By bringing in an extra $8,000 to $10,000 a year, she can funnel more into her savings account. Those savings gave her a much-needed cushion when she was unexpectedly laid off a couple years ago. While she looked for a new videographer job, she ramped up her gym schedule so she could fill in some of her missing income. One day, she plans to make her passion for exercise a full-time small business, perhaps by leading workout classes for new moms.
That kind of flexibility is what enables many 20- and 30-somethings to stay one step ahead in today’s job market. With the average worker now holding 10 different jobs before age 36, even those of us lucky enough to have full-time jobs benefit from thinking like entrepreneurs. How can we best brand and market our skills? How else can we earn more money for ourselves and our employers? What would we do if our current paycheck suddenly stopped?
‘Multi-streaming’ or ‘Moonlighting’ is the New Income Security
The concept of “multi-streaming” that comes so naturally to Chhayal provides the kind of security we can no longer count on from employers. And it doesn’t require Jillian Michaels-esque skills, either. Teaching, blogging, selling handmade creations on websites such as Etsy.com, or starting up a small business are just a few of the ways to start bringing in extra cash. A brief glance through Craigslist postings in the “services” section provides a sense of what’s marketable: Editing help. Music and language lessons. Gardening assistance.
What starts out as a hobby could soon turn into a full-time business, which can end up paying off big-time. According to the Bureau of Labor Statistics, salaried workers earn an average of $39,635 (outside of the government and agriculture jobs). But self-employed people earn an average of almost $54,000.
And those of us sticking with our full-time gigs should also make sure to get paid what we’re worth. At a time when we feel lucky just to have a job, we often feel like we don’t “deserve” raises and promotions. While employers might not have a lot of cash to work with, they can provide other rewards, from more flexibility to extra vacation days. Asking for these perks is the only way to find out if they’re available. Plus, then you can use your extra days off to start earning more money on the side.
After all, getting laid off isn’t the only reason that extra source of income comes in handy. Chhayal recently become a mom, which means flexibility is more important to her than ever. She’s getting to work on her plan to launch a workout business aimed at new moms.
Kimberly Palmer is author of Generation Earn: The Young Professional’s Guide to Spending, Investing, and Giving Back, www.generationearn.com
Unpaid Internships: Great Experience or Unnecessary Evil?
Thursday, May 10, 2012
Derek Thompson over at the Atlantic has published two posts today that collect readers' feelings regarding the increasingly important internship question: are unpaid internships good experience for undergrads or an unneeded exploitation of inexperienced labor?
How to Be a Good Student Loan Borrower
Monday, May 07, 2012
Without action by Congress, student loan rates are set to double on July 1 to 6.8% for subsidized Stafford student loans. In light of that potential development, students who are planning to use student loans to pay a portion of their educational costs need to especially careful when borrowing. In fact, a recently published study from the [Project on Student Debt]( http://projectonstudentdebt.org/files/pub/classof2010.pdf) found that, for the first time, student loan debt has surpassed credit card debt and for students with student loans, the average debt was $25,250—an increase of 5% from the previous year.The Secret to Modern Frugality
Friday, May 04, 2012
On a typical weekend at their home in western Illinois, Tim Kasser, his wife, and his two young sons might be out on their ten acres of land, taking care of the goats and chickens that provide milk and eggs for the family. Unlike many Americans, you won’t find them hanging out in front of the television for hours or shopping at the local mall.
Expert Bob Barry Featured in Brazen Life Blog Post
Wednesday, May 02, 2012
Expert on LifeTuner Bob Barry has written an article for the Brazen Life blog over at Brazen Careerist! The post, entitled “4 Smart Tax Moves Millennials Should Make Now” offers up helpful tips for Gen-Y'ers to look forward to in the wake of this year’s tax season, including…
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