Could you cut your expenses and work hours 50% and work only part time? (employees, credit card)

[Dingler]

At my employer many full time employees were offered the chance to go to part time work. Instead of working 40 or more hours per week, they would go down to 20 hours but their pay would also be cut in half. The company would continue to pay for health insurance and provide benefits.

It made me think about working and money. I am paid about twice what my Father made in the 1950 and 1960s adjusted to inflation. Some how he survived and brought us up OK. If I only worked part time I could do so much that I do not have time for today. Maybe I could cut my expenses and scale down my lifestyle. Working only 3 days a week seems great, but the money?

How about you? part time?

[Threestep]

September 2006 I moved from full time (officially 40 hours) to 30 hours working from home. For me it was a great move.

[gardener34]

At one time, the position I was in was so stressful and I hated it so much, I talked the company into letting me work 4 days instead of 5 (got paid for 4 obvioiusly). Just because it took me a full 3 day weekend every week to recuperate. It was that - or quit.

Luckily a year after that I got promoted and no longer had that position and went back to 5 days full time. And they re-organized the dept. that was so messed up you will be happy to know.

[bubbagirl]

Too many people are so far in debt with student loans, credit cards, payments, etc, that this isn't an option. But, in many cases, it certainly would be appreciated!

My husband and I both got laid off a year ago and we were not able to find replacement jobs in the area we were in. We were, however, able to reduce our expenses drastically so that we could survive. We don't have car payments or credit cards, we were able to rent a room very inexpensively from a family member to cut back on housing expenses, and overall we were able to reassess our financial situation so that we could survive. That said, now that we do have a better income since then, it feels weird to have the ability to actually spend money.... but, now we're reassessing what we actually *need* vs *want*. Especially with housing... we don't *need* the $700/mth luxery apt when the $500/mth is perfectly acceptable, we don't *need* the latest and greatest gadgets, nor is the full cable tv package *essential* (we'll be getting it though, because my hubby gets it for free through work starting next month), etc. Things are in a different perspective, and I think we'll take our living situation from the past year as a learning experience on how to keep things simplified. This will hopefully allow us to tuck away more in savings than we've ever done before.

If I had children, I certainly would rather be home 20 hours each week if it was something I could afford, but there are no children at this point.

[MotleyCrew]

Only you can really answer that one. How much do you owe? What do you need coming in to cover expenses etc. You might find with more time available, to dabble in another field that you like even more. My husband recently quite his very good job due to the two hour commute time to work out of the house. I was extremely nervous about it, but since we have no house payment and our credit card is zip, we are finding out that we can do this. We love the 20 second commute we have now. LOL

[Racelady88]

For many working people they barely manage to survive on 40+ hours at full pay.

I could not imagine half the hours at half pay and still be able to make the mortgage payment, utility bills, auto insurance, etc. In fact, at 50+ hours at full pay I was about to go under. No eating out, no premium anything, no hair/nails getting done, no nothing extra.

I imagine that the answer to your question lies in how much you actually make vs. your monthly expenses. Hard to cut your electric bill in half (especially during summer in FL), hard to cut your water bill in half, hard to cut your mortgage payment in half........

[Karla with a K]

Originally Posted by Evey

For many working people they barely manage to survive on 40+ hours at full pay.

I could not imagine half the hours at half pay and still be able to make the mortgage payment, utility bills, auto insurance, etc. In fact, at 50+ hours at full pay I was about to go under. No eating out, no premium anything, no hair/nails getting done, no nothing extra.

I imagine that the answer to your question lies in how much you actually make vs. your monthly expenses. Hard to cut your electric bill in half (especially during summer in FL), hard to cut your water bill in half, hard to cut your mortgage payment in half........

very good points evey

the one thing no one has brought up is
"Would your other half want you home more "
I love it when my hubby has vacation but after a week I am ready for him to go back to work. I have my stuff I do all day and find I would rather do things with him and my routine goes out the window.
He mentioned the idea of his "telecommuting" and I said "everyday" lol
I can see 1 or 2 days a week but everyday

[sweetana3]

Absolutely I could do it. I would ditch the house we have for one $150,000 less (less taxes and insurance and hopefully utitilies). I would ditch the majority of stuff that we surround ourselves with.

I would make sure I had enough yard for a garden.

But hubby would probably not be happy to make the switch. Maybe in a year or so when he retires.

You only get one life to live and finding/buying time is the hardest thing ever.

[southernlady5464]

the one thing no one has brought up is
"Would your other half want you home more "

I did it when he was in between *opportunities* (after he took a buy out and before he got this new job) for 5 months. And altho he did not drive me totally bonkers, I do prefer having some time to MYSELF! Liz

[SpeedyAZ]

I doubt many people could really do this. We as a nation are very consumeristic. We want to buy, buy, buy and always have the latest and newest gadgets, cars, and material possesions. We are also a nation of work-a-holics which would make it even more difficult to cut back. I can barely get all my work done in 40-50 hours a week much less 20-30 hours!

Many Americans have high credit card debt, high mortgages, and high car payments. Many work 2 jobs usually over 60 hours per week just to afford their lifestyle. IF they cut back on their expenses, I do believe that they could work part-time but this won't happen because they won't be able to afford their BMW, their 1/2 million dollar home, their lavish vacations, or their expensive "hobby". Without material STUFF, many will feel inferior as is the general mindet in our nation to not only "Keep up with the Jonses" but to "Beat the Jonses".