Let’s talk about “the bleed”. This is my way of describing the tough times I face when I’m not working on a contract.
Working as a stage manager, I’ve spent loads of my career on contract-based work. When I’m on a contract, money flows in and since housing and food are typically covered, or there’s an allowance (per diem), it barely feels like I’m spending anything. But when the contract ends, the cash flow dries up, it’s an annoying part of contract work.
Take for example, the glorious year of 2016 when I barely had three weeks off work and managed to sneak in vacations during two of them. Each contract was neatly lined up before the previous one ended. Minimal anxiety and steady income, everything’s great, right?
Fast forward to 2019, when I intentionally worked less to spend time with my mom at home. Sadly, things didn’t go as planned and I found myself dealing with grief and boredom for months until I took on a new job like my regular ones in June.
During this downtime, I felt “the bleed” – the money drain when you’re waiting on your next paycheck. While between contracts, every day you spend money can pinch and it adds up. If it’s just a few weeks before the next job, it’s not that noticeable. However, when it’s close to 7 and a half weeks, you really feel it.
To manage these times, I do a few things to earn a bit of cash which I like to call “pin money”, borrowing from my grandma’s terminology. Here are a couple of things that work for me:
UserTesting, eBay, Craigslist Gigs, Pinata/GoGetter Brand Ambassador App, Substitute Teaching, VIPKid.
Each of these gigs helps, especially down the line when accumulated. Even better, being a brand ambassador and substitute teaching means I’m occupied for a few hours, so I’m making and definitely not spending money during those times.
These aren’t a lifeline for someone deep in financial trouble but they’re great for someone who is financially stable, trying to meet their goals, avoid dipping into savings, and maintain cash flow during dry periods.
So, what do you do to earn a bit extra and balance your budget during such periods? I’d love to hear your tips and experiences.