![]() That can help you gauge whether going part-time is realistic. Try living on a part-time budget for at least a month or two while you still have a full-time salary. If you’d need to slash your spending significantly, consider a test run. Otherwise, look for expenses you could shave from your budget. It’s a good sign if the reduced paycheck would still leave you taking in more than you’re spending. If you share expenses with a spouse or partner who works, consider their income as well. Then calculate how much money you’d earn from your part-time salary, plus any additional income sources you have. Look back at the past three to six months and average your monthly expenses. To estimate how prepared you are, first figure out how much you spend each month. The most obvious thing to consider is, can you make a part-time paycheck stretch far enough to cover all your expenses? Could You Pay Your Bills on a Part-Time Salary? Here are five questions to help you evaluate whether you can afford to switch from full-time to part-time. If you’re considering the shift to part-time employment, you can’t ignore the financial consequences. But can you afford it? Making the Move to Part-Time: 5 Factors to Consider One solution is to scale back from full-time to part-time work. But if you’re juggling a full-time job with a hodgepodge of other responsibilities, time is often in short supply. ![]() No matter how hard you work, there’s one thing you can’t buy more of: time.
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