Is it Worth Moonlighting to Subsidize Your Income – Only You Can Decide

As oil prices rocket and push up inflation, more and more people around the world, are looking at ways to subsidize their income.

In the U.K. a foreclosure is called a repossession. Market analysis shows U.K. mortgage issues mirroring trends in the United States, as home owners find it difficult to refinance. The Council of Mortgage Lenders said the global credit crunch was exacerbating trends that were already emerging in the housing market. It said it had already been expecting arrears and possessions to rise, but the situation would be worse than previously expected because of the tighter lending criteria many mortgage lenders are now imposing.,

More people now, experiencing the “credit crunch” are “Moonlighting” with the sole purpose of generating an extra income to survive and which before, used to be to afford luxuries.

Moonlighting takes on various forms, ie those that take a second job over and above their normal job and the other individuals who also have a regular job, but who are skilled in what they do and offer a service to anyone prepared to pay them outside of normal working hours.

With the latter type of “Moonlighter” this can be a win win situation for both the consumer and the moonlighter alike.

The consumer gets a job done by a professional for a fraction of the normal cost of hiring maybe the same professional through the Company he or she works for. Add to this, the benefit of the moonlighter offering his or her services outside of normal business hours. ie no need to take time off work to wait for the washing machine engineer to call and fix your broken appliance.

The moonlighter gets an additional boost to his or her normal income and he can build up his client base part time, until he feels he has enough clients to branch out on his own with his own full time business.

Needless to say, there are risks associated with this practice, for both the moonlighter and the consumer.

From a Consumer point of view, if wishing to use the services of such a moonlighter, it makes sense to use only someone recommended or at the very least, ensure that he or she has suitable liability insurance cover for any unforeseen accidents etc.

The greatest risk however, is for that of the moonlighter.

Most employers, will take a very dim view of anyone carrying out or offering a service in the same field as which the moonlighter is employed by them. Anyone considering this route would do well to check their contract of employment to ensure that they do not breach the terms of this and which could lead to dismissal if found out. If in doubt ask!

Moonlighters should always make sure they have adequate liability insurance, to cover them against claims for accidental damage or even negligence etc.

There is another type of moonlighter. Those individuals and there are more and more of them, who start an on line home business part time. The attraction of being able to make a substantial increase in income on line, is drawing in hundreds if not thousands of people daily. 

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