I have a friend that decided to take on a second job to bring in a little extra cash to help speed up his debt reduction goal. He's already been interviewed and hired by the company. The store is opening a new location so they aren't open just yet. Right now, he is getting paid for training on the computer systems and learning the company procedures.
It's close to his house, pays $8 an hour and has flexible hours. Everything sounded great until he told me what store it was and my brain came to a screeching halt. He will be working in a sporting goods store. This doesn't sound like a big deal right? For me, it wouldn't be a big deal but to him it is. You see, he is an avid outdoorsman. He loves hunting, fishing, kayaking and anything related to them. He can go to one of the big box sporting goods stores and stay in there all day; including the one he will be working in. His garage is full of outdoor "stuff".
We were joking about how he was going to be working for free for the first few months because he was going to be giving his paycheck back to them with all the stuff he would be purchasing. He said he would probably even spend more than his paycheck until he purchased all the "stuff" he wants to get.
I'm real concerned that this second job will actually hurt his finances instead of helping them. I want to say something but I am learning that if people don't ask for your advice, it's best to keep your mouth shut. Adults will do what adults want to do!
I would love to get a second job at Best Buy but that is way too much temptation for me. I know it is important to do something you like to do; especially at a second job. If the second job will make you spend more money than you will be earning, it's probably best to choose a job somewhere else.
It's close to his house, pays $8 an hour and has flexible hours. Everything sounded great until he told me what store it was and my brain came to a screeching halt. He will be working in a sporting goods store. This doesn't sound like a big deal right? For me, it wouldn't be a big deal but to him it is. You see, he is an avid outdoorsman. He loves hunting, fishing, kayaking and anything related to them. He can go to one of the big box sporting goods stores and stay in there all day; including the one he will be working in. His garage is full of outdoor "stuff".
We were joking about how he was going to be working for free for the first few months because he was going to be giving his paycheck back to them with all the stuff he would be purchasing. He said he would probably even spend more than his paycheck until he purchased all the "stuff" he wants to get.
I'm real concerned that this second job will actually hurt his finances instead of helping them. I want to say something but I am learning that if people don't ask for your advice, it's best to keep your mouth shut. Adults will do what adults want to do!
I would love to get a second job at Best Buy but that is way too much temptation for me. I know it is important to do something you like to do; especially at a second job. If the second job will make you spend more money than you will be earning, it's probably best to choose a job somewhere else.
Free Money:
ING Orange Savings Account - $25 signup bonus with a $250 deposit.
Ebates - Where it pays to shop online. Get a $10 signup bonus.
Don't be shy, subscribe to SingleGuyMoney today!!
It must be extremely tempting working with the things you like the best and with a staff discount it is likely that anyone in a similar situation would go a bit mad with spending especially in the first few months. Imagine seeing customers all buying the things that you really want - I think you would buy them up just to make sure that they didn't sell out before you got any.
This is a catch 22... the same traits that would make him a good employee (liking the products and outdoors stuff) are probably going to hurt him financially. Hopefully he can control himself and only buy what he wants within the paychecks and only for a little while.
Better this than him just going out and buying the stuff without the extra job income.
I agree it will be tempting and hard for your friend not to buy anything and everything. Especially if he is getting a store discount and something may be on sale. Maybe you just need to guide him on over to several blogs or books or whatever his style is to educate him that he should save for something he REALLY wants and not just buy anything and everything. Also to remind him why he got the second job. It's all apart of growing up. The good news is he took the initiative and got the second job.
Actually, I think your friend is really lucky. He is one of those few people who found their dream job! :) And after he's done buying all the "stuff" he wants from the store, he'll be even happier. Besides, if he really is as much of an outdoorsman as you say he is, he'll be a great salesman. In other words, the financial setback associated with this job is but temporary, and it'll improve his financial, physical and psychological well-being in the long run. :D
There's just one thing I don't get - why would you want to work for Best Buy, of all places? I'm not passing any judgment here, but that place is pure evil and there are tons of horror stories about their customer service and store policies...
It could work to his advantage, when I worked for a cook store the staff would put all the cool new gadgets on hold. We could leave them there for months if we wanted (as opposed to customers one week), by then we'd get something new and better in, replace the item on the hold shelf and let the cycle repeat.
I hardly ever bought anything, just kept it aside for ages!
He should start working at the library. I succumb to the same temptation, but the books and videos are free, plus no late fees for staff. So if I slip up, still no biggie.
Hmmm. I'd have to get a job at Yankee Stadium. The Commute will kill me though as I live in Upstate Ny.
I am in a similar situation - I work at Lowe's. One big difference is that I have to buy appliances for my house, as well as window treatments, paint, carpeting and all the stuff that I'd normally purchase anyway. I haven't gone wild with the purchases, but once I have enough built up in my employee stock, I'll sell it and buy something for myself that's really nice, like a TV or something. Half the reason I work there is to get the discount. The other half is that I am helping people (who sometimes have no clue) about what to purchase - it's a very rewarding feeling. Getting a paycheck is just icing on the cake, as I make about as much in an hour with my regular job as I do in a two-week period with Lowe's.
In the past I have considered getting a second job, but I could never justify the diminishing returns of working for close to minimum wage at night and on weekends when I may GOOD money at my day job, all at the expense of having less time with the things that REALLY mean the most to me: wife, daughter, other family, and friends.
My husband wanted the best buy second job, too. However, about a zillion other guys in our area had that idea as well, and so best buy is not anywhere close to needing people. I was glad, because I want to work, and he watches the baby while I work weekends.
Maybe there's no need to worry. I'm an avid crafter who likes to make just about anything I can with my hands - knitting, crochet, embroidery, painting, drawing, beading, jewelry, cake decorating, etc, etc.
I got a part time job for a few months at Michael's craft stores. I think that the entire time I worked there I might have spent $50 there. Being around the stuff all day and getting to use it to when doing demonstrations or creating samples was enough. I was satisfied, and I didn't feel like I needed to do more when I left work for the day
Mmmyep, I ran into the same issue with my second gig. I tried setting myself a budget of no more than 10% of my paycheck, and that didn't work. I tried only buying things out of the damaged/returned section, and that really didn't work (king sized down comforter regularly 219, marked down to 29, then add 15% discount... and it's more than I made during my shift. AND I have a twin bed! The comforter is twice the size of my bed!)
Yeah, after a few months my spending leveled out, because I'd bought everything I wanted and frankly I was getting sick of spotting items I sold on TV shows and in movies (Top Chef bedrooms are top to bottom furnished with IKEA stuff, just so you know). However, that was money that was G-O-N-E.
I think you are dead right when you bit your tongue like that. I had to learn from my own mistakes when I was w2rking, and I did and I moved on. Your buddy's going to have to figure out what works best for him.
Last year I took on a second job at a retail clothing store to help pay off my debt. In theory, it was a great idea and my intentions were good. But with that employee discount, I could buy the clothes at a fraction of the cost! Clothes that I LOVE because it was my FAVORITE clothing store!
I ended up quiting the job after a few months because I spent every penny I made on clothes I didn't need. Luckily I didn't spend more than I made, but the whole point of getting a second job on top of one full time job, being a full time student and a single mom of two children under the age of 9 wasn't coming to fruition.
Sometimes having that second job is not as good in practice as it is in theory.