Unexpected Income Loss As a Contract Worker and How to Survive It

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This sure was pretty to look at. How you’d feel if you were lost out here makes it a great representation for sudden income loss:  lonely, isolating, stressed and anxious

To kick off financial literacy month, I’m focusing on my recent experience of a unexpected income loss as a contract worker and how I’ve learned to survive it.

For those just tuning in, spring was mired with indecision on whether to take a sabbatical; then fate decided and catapulted me into one, right at the start of summer no less. How lucky is that?

I turned my unexpected loss of income into a summer sabbatical, which came to an end in early September. Gone are the days of gardening at sunrise, daytime eavesdropping expeditions at coffee shops (you’d be amazed how interesting people’s lives can be), last minute plans to visit family and friends and fire & ice vacations! In return though, income is flowing again!
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Contract Work: What Happens When There’s Gap?

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After a few weeks of radio silence, I’m back!

The expression deer in headlights has been on my mind lately. Have you heard this expression? I think almost everyone are familiar with it. Have you ever been in a position where you’ve felt you’re the said deer? Paralyzed by a situation, unsure what you’re next move is? This doesn’t have to be a negative situation.

For the past little while, I’ve been locked by indecision: Path A or Path B? Maybe there’s a hidden path C? Options are a funny thing. We all want options when we feel trapped. When luckily presented with several good options, we can get paralyzed with choice. Thus it’s been for me: take a much needed break from work and delay savings goal timeline or continue working and stay on course for savings goals.
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Finding Contract Work

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Have you decide to switch from a full time to contract position? Are you wondering how to find a contract?

Deciding to switch from a permanent to contract position is already a big leap. I teetered back and forth for at least a few years before an organizational re-structure had me take the leap to my first contract position. Once I committed myself to only seek out contracts, there was a whole other little mountain of questions I had. The first being: How on earth do I get my first contract? I had a vague notion about some basics: online presence, networking and recruiting firms.

Do you remember the nerves and uncertainty finding your first co-op, internship or job? Looking for my first contract position didn’t feel too different. But don’t worry, you can totally get that first contract!
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Is Contract Work Right for You to Increase Your Income?

Contract_work_increase_incomeIt was mid-winter 2015. I had trudged through the snow on my usual 20 minute walk to work. What I really wanted to do was call in sick. I was exhausted from working all weekend implementing a software upgrade. But I had a meeting first thing with my director; I thought I was walking into a 1:1.

But instead: Lay off… Shock… Confusion…
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