Hopefully, you didn't run to this article thinking we had a magical way to avoid adulting and the responsibility that keeps us tied to the stable income source we know as a job. Unless you're prepared to live off the grid in the deep woods by a lake and hunt for your food where you bathe, or you happen to be the one in 5 million to actually hit the lottery, we'll have to go a different, more realistic route.
If you want to quit your job, the 1st thing you have to do is devise a plan. Let's start with the aforementioned reason we tend to be employed in the first place. EXPENSES. What are your monthly expenses? Be sure to include monthly subscription services like Netflix and Amazon. Having a clear picture of your expenses allows you to set an income goal and make a plan to achieve that goal. For instance, if your monthly expenses are $2000 that's $500 you'll need to be earning per week to cover those expenses. $500/week is your new income goal. Now, let's take it a step further and decide on the date you'd like to be your last day clocking in. Please be sure to be realistic and avoid the disappointment of not reaching your goals.
The second thing we'd recommend is eliminating unnecessary expenses. Now that you have a clear idea of what you're spending every month. Take a look at which items may be expendable. Are you subscribed to Hulu, Prime, Disney+, and Netflix? Options are great! But, choosing one or two is more favorable to your budget. Find areas of opportunity and knock off a few dollars wherever you can!
The third thing you may want to do, if it's at all possible, is start saving. Many of us are familiar with living "paycheck to paycheck". If you're not familiar, that means there isn't too much left over to save when that deposit hits and expenses are taken care of. So, saving seems impossible. But nothing is impossible. Look into getting a side hustle. Research ways to make extra money while you work so that you can have a little something extra to put away. The goal here is to have a cushion when you're ready quit your job. You can do it!
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Last but definitely not least, implement a means of reaching your financial goals. You know what expenses need to be covered, you've minimized those expenses to the best of your ability, and you've started saving money. Now, it's time to work the plan and replace the money your job provides. Will you be starting a business? Well, congratulations are in order! The truth is, not many businesses make money right away. Be sure to keep your income goals in mind as you ponder the decision of quitting your day job. Remember, as an entrepreneur, it's important that you prioritize your expenses when revenue comes in. Unlike the job we're preparing you to leave, entrepreneurship can be the most lucrative thing you've ever done in one season - with a month or two of, "How am I supposed to live like this" in between. Plan. Prioritize. Save.
Nothing is out of reach.
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