Hi there income streamers! I thought I’d take a break from all of our money saving to talk about some money earning.
I’m currently juggling a full time internship as well as working an hourly job on the weekends. It’s lead to quite a busy summer, but I honestly wouldn’t have it any other way. I get bored when I’m idle! But some of you may be wondering – if I’m earning far more at my internship why am I bothering with weekend work at all?
I’m glad you asked! The first reason is that I have a great community at my weekend job that I’m not quite ready to leave just yet – I have made real friendships over my four years there and my boss treats me well. Second, that extra money each week actually makes a HUGE difference in my life – because it allows me to divorce working for savings and working for spending money.
I haven’t left for college yet, so luckily for me I’m able to live at home still and eat from the family fridge. This means that my only real expense at the moment is going out on the weekend – and the weekend money is more than enough to do that! As a result, I’m able to sock away 100% of my internship earnings, and I’m not even tempted to touch them since it’s in a totally different account than the one my weekend money goes toward.
I have grown fond of this model and plan to use it for a long time. Having one account for fun, and one account for savings, allows me to enjoy myself without worrying about spending while also never being tempted to withdraw from my savings. Once I become independent, I’ll probably set up a third account designated solely for bill paying, but I could definitely see myself keeping up a weekend job and letting myself spend that money entirely on fun. That allows me to keep fun in moderation and also let’s me link that movie ticket with exactly an hour and a half of hourly wages rather than a vague valuation based on a salary.
Do any of you hold side jobs, or designated accounts for fun? How could I earn more on the weekends and possibly start devoting some of that fun money to savings as well? Let me know in the comments!
For more funky financial flow, check out @StevesStreams on Twitter!