The life of a temp can be equal parts stressful and liberating.
On the one hand, you aren’t committed to a position for long stretches of time, unless it’s a temporary-to-permanent position you’d like to pursue.
On the other hand, if you know up-front how long you’ll have the position, you know exactly how long you’ll be receiving income until you’re looking for your next gig.
While it can be worrisome not to have a steady income for long stretches of time, there are some perks to this arrangement too.
Here’s how working a temp job can help you build your savings.
1. Flexibility to pick up other jobs.
If your main temp job is a part-time one, you have more hours available in the day to pick up a second job, or focus on a money-making hobby, that can help pad your income. It gives you the freedom to use your time to pursue other interests and help earn some extra cash for those times in between temporary gigs.
2. Learn to budget.
If you know your income is limited, it’s time to look at your monthly expenses and write a budget. Determine your absolute must-have bills, including rent, utilities, phone, etc., and look at how much you’re bringing home from your current job. If you can, cut down on unnecessary things and put a little money away from each check to create a savings account for a rainy day –or a time when there’s a gap between jobs.
3. Put aside money for expenses you’re not currently paying.
For example, if you’re working fewer hours, maybe you’re not spending as much on gas as you would if you had a longer commute or if you were driving around town. Maybe you’re not spending on child care or other family-related expenses if you’re home more. Take the money you would spend on those things and set them aside in a savings account. You’ll be surprised how quickly a few dollars here and there adds up!
4. Save all you can.
This is more than just setting up a budget. Prioritize saving money for those uncertain days ahead. Make it a non-negotiable when you get paid — put money into a separate account, not to be touched unless and until absolutely necessary, or set up a direct deposit to make a withdrawal the day after you’re paid, if checks come regularly. If you don’t see it, it’s not there, and you won’t miss it. And then, if the day comes that you need cash, it’s waiting for you. Or, on a happier note, if you get another temp job right away, you’ve got some money set aside for something fun.
Temp jobs can be a great way to figure out what you want to do and what kind of work you want to explore. It can be stressful, and it might feel impossible. But it just takes a little work, and a little thinking ahead, but you can make temp jobs pay off for your future!
Find Your Next Opportunity
If you’re looking for a new position, call Davis Staffing today. We partner with some great companies looking for temporary (and permanent!) employees with just the skills and experience you already have. Call Davis Staffing today, and let’s get you on the road to a bright future.