Money Fix: The merits of moonlighting

With the economy showing signs of life and a little easing in the job market, taking a second job to pay down debt or to shore up depleted savings seems like a good idea. Maybe, maybe not.

Before you moonlight, here's what you need to know:

Be strategic. Find a second job that complements your current position, takes advantage of your skills and experience, or aligns well with your personal interests, says Bob Kovalsky, senior vice president with Adecco Staffing in New York City. It's also great if it broadens your skills and network.

Avoid conflict of interest. Check your company's rules. Working for a competitor could get you fired.

Ask lots of questions. What are the hours and expectations that come with job No. 2? Do not overcommit; know what you're getting into.

Sharpen organizational skills. To make this juggling act work, you'll need to be a planner extraordinaire. Be prepared to map out things you need to get done daily and weekly, with a game plan for how you will do so. Realize this may mean handling tasks on your lunch break or between jobs to keep things on track.

Is it worth it? What's your financial goal? Will the job net you what you need?

Are you really ready? Your wallet may say yes to more money, but how will you manage the work-life balance? Can you make the sacrifice, physically and emotionally?

Moonlighting is only good if it fits in with the big picture.