Thursday, August 30, 2007

I've been tagged

I was tagged by Debt Challenger to give one piece of financial advice.

For those in debt, and are considering a second job here is some advice. Make sure the second job is flexible, and does not get in way of your main job, a.ka. your bigger bread and butter. The income from the second job should be either close to your main job or close to home to keep commuting costs down. The key is: your income from your second job should not be used to increase your lifestyle. It should be used to pay down your debt and increase savings.

6 comments:

Sistah Ant said...

Great advice. Second jobs can be great if folks follow that advice. I used a second job to build up a "moving to another city with no job/apt lined up" fund, and it worked.

Bklyn's Finest said...

great advice!!!

My "second job" is around the corner from my home and is EXTREMELY flexible.. although the pay is great.. I only work a few hours a month and get paid monthly.. when I do receive that check though it is always either pays a bill completely or is deposited into that "business" a/c to offset future expenses for that job..

Single Ma said...

This is why I vow to never accumulate anymore consumer debt, says the chic who isn't debt free yet. I am simply too damn lazy to work TWO jobs. Nope! Un un, can't do it. Just thinking about it makes me tired. LOL

Ms. Behaving said...

That's some fabulous advice.

Wish I had the energy for a second job -- hell for that matter, I wish I was debt free too!

D.C. 2 said...

Good one Tired. :o) I'm glad I tagged you.

Dream said...

Great advice. Just picked up a 2nd job myself.