NEW YORK (8/25/15)--With the economy steadily improving, more Americans are choosing to work less than full-time so they can pursue other opportunities.
According to the U.S. Bureau of Labor Statistics, more than 20 million Americans work less than 35 hours a week not because they can’t find full-time employment, but because they choose to (Bloomberg Aug. 18). Most of them do so for obvious reasons such as being retired or still in school.
But 6 million of them--up 12% since 2007--work part time because they have a vision for their life that doesn’t include being tied to a single employer. Many of these workers tend to be young and well-educated.
Having seen their parents dedicate their lives to a single profession they didn’t necessarily love and then suffer through the Great Recession anyway, they’re pursing a better work-life balance and making time for pursuits that they’re passionate about. With a patchwork of freelance gigs and part-time jobs, they can earn enough to get by while pursuing the creative or not-for-profit work that excites them.
If this sounds enticing and you want to slash your income in order to give you time to follow your dreams, here are some financial changes worth considering.
For related information, read “Uneven Income Calls for Proactive Money Strategies” in the Home & Family Finance Resource Center.