Moonlighting to Fulfillment and Economic Security

A recent article in USA Today cited a growing trend – professionals moonlighting in second jobs just to make ends meet.

“Moonlighting’s a Way of Life for Workers in Tough Job Market” cited some sobering statistics. About 5.3% of all employees in the U.S. hold second jobs according to the Bureau of Labor Statistics. And many of these second job holders are middle aged, with 19% of Americans 45 to 54 holding second jobs according to an AARP Bulletin Survey. The article speculates that this demographic is so hard hit because often times, when one spouse is laid off or experiencing shortened work weeks, the other takes a second job to pick up the slack and make ends meet.

But one sentence in the article offered a glimmer of hope for moonlighting workers. Melanie Holmes, a representative of Manpower Employment, was quoted as saying that moonlighters should choose a field “they have a passion about.” While her suggestion was for sports nuts to find a job at a sporting goods store, perhaps there is an even better option:

Start a side business

With the job market continually contracting, there is a better way for second job seekers to make extra money and perhaps even create a new job for themselves by choosing a passion or talent and selling those services in place of moonlighting at low wage jobs.

While starting a business takes more preparation than moonlighting, after a bit of soul searching chances are that almost anyone with life experience can find a marketable skill. For artistic types, Outright recently posted a list of “10 ‘Crafty’ Small Business Ideas for Budding Entrepreneurs.”

Of course, the economic reality for some people, especially that 45-54 demographic that finds themselves caring for elderly parents and young adult children is that they need money for mortgages, car payments and bills yesterday. In that case, perhaps that job at a sporting goods store could become a springboard to starting an off-season coaching business.

Perhaps the best advice though, for people who fear for their jobs, is to start now. Instead of wasting time watching the stock market plunge or obsessively adding up those depressing 401(k) statements, start spending time on perfecting the skills that could lead to a profitable side business.

Nervous? Try these two low-risk tips before taking the side business plunge:

1.) Practice and make sure the side business is something you want to spend a good deal of time on. Though knitting may be a great stress buster for you after a long day at work, you may realize that knitting scarves to sell on consignment or on sites like Etsy and 1000 Markets is more of a stress maker when you are in it for the money.

2.) Alert your network to your new goal. This is a low-risk form of market research that lets you gauge information on the market for your services. This may even be how you land your first client. Even the most experienced small business owners often find their best customers through networking and referrals.

And who knows, perhaps after awhile you will feel comfortable following in Yolander Prinzel’s footsteps and quitting your day job to do what you love full time.

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