Are you a full-time employee who has been starting to feel like living the part-time work life? The change is not something to do on a whim or take lightly, but if you are considering this career move, here are four questions to ask yourself to be sure this switch is smart and the right one for you.
Are You Stressed Out?
Stress can be a messunsplash.com
Most people have some degree of stress, and some are more stressed-out than others, even to the point that they know something's gotta give. According to Investopedia, "Study after study has revealed how perennially tired and 'worn out' many full-time workers feel."
Your mental and physical health are a major priority, so perhaps a shift in the way you work can alleviate the anxiety and pressure. Fewer work hours can give you much-needed time to decompress and take time to care for yourself properly.
As Lifehack notes, "You'll have more time to rest your body and mind and notice improvements in your immune system, digestion, circulation, and other key signs of physical health compared to an exhausted full-time worker."
With your newfound energy and happiness, you can put your full self into your part-time gig.
Do You Want More Time for Other Things?
Make time for hobbies and other interests unsplash.com
For some, it's all work and no play… and they like it that way. But for the rest, there is little, if any time for pursuing hobbies, fitness, family time, travel, or even a second job. A part-time job will free up a good deal of your time to devote to these other areas of interest you have put on the backburner.
According to Wise Ones, "With the ability to control your own time comes the freedom to decide what to do with it." Flex Jobs adds, "A part-time position will allow you to have better work-life balance."
Do You Want to Advance Your Education?
It is never to late to go back to school unsplash.com
You may enjoy your job, but perhaps you want to advance to the next level, which requires more training or schooling. A full-time job may not afford you the time to get in those hours or earn that degree.
Wise Ones notes, "Having more time allows you to develop personal skills or even pursue some further education." And as per Flex Jobs, "When you work part-time, you'll have extra time in your day to take classes to add onto your education and apply for the position you really want or earn a potential promotion."
After learning more and advancing yourself, you may wish to get back to full-time work with more knowledge and skills under your belt. If part-time is still for you, consider your education beneficial for your status and soul.
Are You Planning to Phase Out of the Workforce Soon?
Retirement is on the horizon unsplash.com
If retirement is on the horizon, switching to part-time work before making the drastic change from working all the time to not at all can make the transition smooth and steady. You can take this time to get settled into your new lifestyle, get back into family life at home, meet other retirees in the area, or plan for what you will do during this new phase of your life.
On the flip side, you may want to go back to work after you have been retired for a while. Perhaps life out of the workforce does not fulfill you like you thought it would. As per Wise Ones, "For people over the age of 55 years, being part of an organization is also about using experience and knowledge, being with other people, interacting and socialization. It's about mental and social health, as well as financial well-being."
If money is not a primary issue and you can afford to work part-time, and you have answered these questions to your satisfaction and with confidence, now is the time for part-time!
The National Financial Educators Council (NFEC) surveyed young adults in 2017 and asked them what high school level course would benefit their lives the most.
The majority responded that money management was the course that would be most beneficial.
With personal debt is at its highest record and COVID-19 threatening to have the hardest economic effects on youth, understanding money and finances is an important life lesson that should be taught to children at a young age.
The following is a list of the best financial literacy lessons and tips to teach children throughout different life stages.
I thought I had a pretty good handle on my finances out of school. I worked several jobs while attending university and had little to no problem managing my income. However, once I graduated, I realized how much more complicated personal accounting could really be.
There were so many variables I needed to keep track of. Biweekly bills, monthly charges, and general necessities amounted to a heap of confusing numbers that were often impossible to decipher. The funniest part was that I was actually trying to do this by hand (I don't know what I was trying to prove to myself, either).
After messing up for the 17th time, I decided to give Microsoft Excel a shot. I used Excel a bit in school and I knew all the big-wig finance people used it, so what could I possibly have to lose? The answer is about six hours of my precious time. Excel isn't much of an improvement over handwriting and it's still dependent on the user to manually input all of the information. It's like doing everything by hand with the slightest help, meaning that it still required a tremendous amount of time and concentration. Well that was all for nothing, I guess.
It's sort of funny. I was certain that I could manage my personal finances with ease, when it's practically a full-time job. I was already stressed out enough with my first job and I knew I didn't have enough time to give my finances the attention it deserved.
That's why I decided to try out a budgeting app. My best friend told me that he uses an app called Truebill to manage his finances. "What does it even mean to manage your finances?" I asked him. He told me that Truebill was the personal financial assistant I wished I could have. It could aggregate all of my account information into one place and give me specific insights and actions.
I loved the idea of having full control over my finances, especially during a time of financial uncertainty, and I realized that Truebill would be the easiest way to accomplish this. The user interface is incredibly simple and intuitive, so it doesn't even feel like a finance app! Truebill offers a multitude of features, with their most popular being the ability to cancel subscriptions with the press of a button.
Okay, I had no idea how many subscriptions I was still subscribed to. In fact, I wasn't even using a quarter of the subscription services I was signed up for. Subscription boxes, streaming services, my old gym, and even an old subscription to my favorite magazine--it was all there and I was livid. How could I let myself waste all of this money and how did I never catch this? Thank goodness for Truebill.
Truebill also offers bill negotiations. There is a 40% fee based on how much you save and Truebill even claims that there is an 85% chance that they'll be able to lower your bill once a negotiation is requested. Why wouldn't I take them up on this? There was zero risk and I would only have to pay once my bill was lowered (which means that I would be saving money regardless).
More standard features of Truebill include the ability to generate a credit report on-demand and even request a pay advance. I only used the pay advance feature once when I wanted to buy a gift for my mom, but didn't have enough cash in hand and Truebill automatically reimbursed itself when I got my next paycheck.
The credit report is another fantastic feature and practically taught me what good credit meant. Truebill's credit report basically shows you which financial decisions have the most significant impact on your credit score and ways that you can improve your credit month-over-month. I've never had such control over my credit and it feels good.
I'll be the first to admit that I was extremely naive coming out of school. I figured that as long as I was attentive, I could manage my finances with ease. We manage money to some extent throughout our entire lives, but once you're thrown out on your own, it's a completely different story. With Truebill, I've finally been able to take control over my finances and stay on top of all of my responsibilities.
My buddies and I always try to make it out to a game, but we never really care which one we end up at. Obviously we have our favorite sports and teams, but it was rarely about what game we went to or who we saw playing. It was about watching the game live.
In the early months of lockdown, all we had was Korean baseball, and trust me, we loved it. The only issue was, none of us had any idea what the commentators were saying. Even then, a few of my friends weren't huge fans of baseball. They were into sports like football and basketball, ones that moved at a quicker pace with less down-time in between plays.
We decided to see if there were any other events going down and came across horse racing. Yes, horse racing. It was perfect--short, fast-paced, and most importantly, an opportunity for betting.
I had never really considered watching a horse race any time other than the Belmont Stakes, but the prospects of the sport seemed exhilarating. Even better, with horse racing we knew we could still recreate the atmosphere of a race track. Salty snacks? Check. Stale beer? Check. A simple and easy way to bet? Check.
One quick Google search later, we came across TVG, powered by FanDuel. It's an online betting platform that takes you right to the heart of the action. We were a little apprehensive about using a mobile app to place our bets, but TVG's ability to bet on live horse races from all over the world was too good to pass up.
Here are 5 reasons why we are obsessed with horse racing thanks to TVG:
1. Betting has never been easier
Use your phone or computer to watch and bet on live horse races in real-time. TVG offers a bunch of features to make betting even simpler--live odds and handicapping tips leverage recent learnings to help you make your best bet. Not to mention, TVG's exclusive race content and wagering guide offers an under-the-hood look into the strategy behind horse race betting.
2. The biggest selection of horse races out there
If you're looking to drop a little dough on a horse race, chances are your best option is your local race track. But watching the same few horses races over and over again isn't the most exciting thing. With TVG you have access to over 150 tracks worldwide with races happening consistently throughout the day.
3. Get a generous sign-up offer when you place your first bet
Once you register your account, you will be eligible for a $200 risk-free bet. All you have to do is place your first bet and you're covered. If you happen to lose, TVG will insure you for up to $200 as a sort of wagering credit. I may have been a little trigger happy when placing my first bet, so having this insurance was a great perk. There are also a bunch of promotional offers available year-round.
4. Making deposits and cashing out at the touch of button
With a ton of payment options such as PayPal, BetCash, debit/credit, wire transfers, and other third-party services, making a deposit is a breeze. But what about the payout? Depending on your deposit method, your withdrawal will be available in a few days. No more waiting in-line to collect your winnings!
5. Watching live races with your friends while betting is exhilarating
Even when we were watching Korean baseball, Zoom calls with my friends were a little dull.
With TVG, we haven't had this sort of fun in months! Every weekend we'll turn on a race and throw our bets in. After a few races, and quite a few drinks, we'll tally up our winnings to see who won the most! Sometimes it's not even about making money, but just having a good time.
TVG is the perfect way to add a little excitement to an otherwise mundane afternoon. It introduced me to the world of horse racing, a sport I never would have considered otherwise.
The races just keep ramping up and thanks to TVG, I can always get in on the fun.