Working part time is a way many people achieve a better work/life balance, allowing time to walk the children to school, spend more time with loved ones, pursue hobbies/ interests or do volunteer work.
It’s also a great way to get more from your job. Reducing your hours can mean enjoying the job more when you are there. Work will be less tiring, there will be less exposure to office politics, and pursuing others things in your free time should make you a happier person, which you will carry with you when you are at your job. Having a job that’s part time, gives you the freedom to pursue other choices which helps you to value the job more, compared to one where you spend much of your weekly life there.
So what steps can be taken to make a move to part time hours possible?
At Work:
If part time is a viable option where you work, ask for a pay rise. The increased income may in itself make reducing your hours financially viable. If not, maybe look for a new job that offers part time hours and pays a better hourly rate.
Do your sums. Decreasing your hours will mean a smaller amount of your income is taxable so the percentage of taxes paid is less and this can often mean that the amount you receive will not be reduced as much as you might expect.
At Home:
This is all about priorities and what changes you are prepared to make to enable you to afford working part time.
Downsize your home. Do you need as many bedrooms as you have or can you live with a smaller yard or garden? Alternatively, moving to a cheaper area can result in a similar house for less rent or a smaller mortgage.
Take in a lodger. A great way to create passive income from your home.
For many the car is the second biggest expense after the house. Maybe it would be possible to get rid of a second car, especially if you won’t be going to work so often, or swap it for a more economical model. Think before you jump in the car; could the journey be done on foot or by a cheaper mode of transport such as a bike? With more time free from work, you may have less need to rush from A to B.
Have a look at all your household bills, swapping to cheaper suppliers where possible and discover ways to reduce costs, such as turning down the thermostat a few degrees.
Consider if you could live with less holidays, or shorten the duration of time away. Alternate between holidays abroad and holidays at home or staycations.
Giving up on subscription TV, magazines that are left half read or gym memberships not fully utilized will be a small price for more free time.
Bio: Jen Smith is a Life Coach, Mentor & Writer. She has tried many career paths herself and now helps people achieve their goals and dreams.
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