The cheery headlines in the news today, such as “Hiring revs up, bit it’s mostly part-time, low-pay” and “Here’s who’s really living with mom and dad,” prompted me to write an article proposing solutions in an ever increasing part-time worker economy. Notice the tongue-and-cheek reference to “cheery.”
Between more part-time hiring taking place in companies today and the extended time millennials are living at home, it seems there’s a correlation between these two events that needs to be exposed. It’s not surprising that with the dearth of well-paying jobs out there, more high school and college grads are taking on low-paying, part-time jobs to get some money rolling in. Also not mind-blowing is that with such a paltry income, these folks are living with their parents longer than the generation(s) that preceded them.
Now I’m not discounting that some of the lingering at home might be due to the fact that parents today make living at home comfy and the adult children feel, well, a bit entitled…but that’s a different discussion for another day.
I’m focusing on the financial part of this equation: a lack in quantity and quality of decent-paying jobs making it tough for young adults to fly the coup.
Until the economy truly rebounds and full-time jobs with decent pay begin popping up in abundance, this problem will persist. So what’s a millennial to do?
Get creative!
- Take on not one, but two part-time positions. Okay, so working at Starbucks and a T-Mobile kiosk sounds about as much fun as pulling hairs out one-by-one, but two-part time positions could equal out to almost one full-time one.
- Make yourself indispensable. Hard work is often rewarded with promotions. If your manager sees that you’re a hard worker, taking on extra shifts, and filling-in whenever someone is sick, it’s very likely that one part-time position could turn into a full-time one.
- Work for your neighbors. Can you mow a lawn? Walk a dog? Start asking if anyone in your neighborhood needs assistance, you might be surprised to find that plenty of people need help with errands.
- Rent out your stuff. **Before doing this, make sure you’re covered through insurance for theft and liability. If you have camera or computer equipment, you might be able to rent it for an event. Rent your car (just make sure insurance covers this), a room, your garage, a truck, etc.
- Start a side gig. If you enjoy photography, you might be able to start a photography side business – take wedding photos, baby photos, etc. Can you fix computers? There’s always a need for this.
There are lots of other options out there, these are just a few. I can also attest to many of these; I’ve worked two part-time positions, worked for my neighbors, started side-gigs, and made myself indispensable.
The key to being successful in a part-time economy is having a strong work ethic.
Do you know of a millennial who still lives at home? What’s the solution to get them living independently? Or should they stay at home longer?
7 Comments
Nothing wrong with a side gig whether you have a part-time job or full-time job. Some part time jobs comes with excellent fringe benefits such as tips, deep discounts on merchandise, free meals, free entertainment, or even free education. I would look for the part time job that also offers the best “extras”.
@Mike – Great addition. Perks are another benefit to part-time gigs and jobs. When I worked at Starbucks many years ago, I’d get free and reduced coffee. 🙂
I guess part time work is better than no work. I guess the company save a lot of money on benefits, but the workers are losing out. It would work better if we have better health care options here in the US.
@Midlife Finance – Part-time is definitely better than none, but the lack of benefits is awful. Even with Obamacare, healthcare is pricey.
I don’t know any millenials living at home, but I agree with the list. As they say, “when the going gets tough, the tough get going”. I really hope that the lack of traditional jobs continues to make people more savvy and less reliant on corporate America. Who knows, one of the millenials that branches out in the ways you mention may find a niche that allows them to make their own opportunities.
@Greg – You’re right. Those that branch out might find a lucrative niche market and create their own path without having to be dependent on a single company. Though risky to begin with, it might be a better option in the long-haul.
I am no stranger to the two part time jobs. It isn’t that bad but it does take up all your free time. The pay isn’t that great but with two paychecks you can make it by just fine.
I work full time now and it still takes up all my time. Since I am salary I don’t get overtime, and they use me for everything.
It really just depends on what opportunities you have right now and how fast the economy is going to bounce back and give people something well paid to do.