7 things I learned that helped me quit my day job and follow my dreams

For real

7 things I learned that helped me quit my day job and follow my dreams

Ola! Long time no see! Apologies to my die hard fan for being out of touch for so long (hi, mom!).

The editors of WellSpent have asked me to pen a final article for the “Journey” series of articles, the first crucial steps in financial Doing-It-Yourselfness.

They asked me with a certain long-suffering look on their faces that, as a scatterbrained creative, I’m very used to. You see I haven’t posted on this blog in a few months, because I’ve been…sidetracked. My own journey took a massive left turn when I decided to quit my job and take a year-long sabbatical to pursue a number of my own creative projects, rather than my clients’ work.

Because I’m essentially living off of my savings, a lot of the WellSpent financial “Journey Series” doesn’t really apply to me, since I’m not saving for retirement right now, I’m not diversifying or investing or indeed doing very much other that trying to keep my expenses low.

And I couldn’t be doing this now if it wasn’t for the Journey Series.

Over the months that I spent following the advice of the WellSpent editors I learned a LOT:

  1. I completely rethought my relationship with money and figured out exactly what it means to me. (I don’t need things; I need experiences and a little peace and quiet).
  2. I’ve found out that it’s never too late to start getting your finances in order.
  3. I set up an emergency fund that will cover me for a few months if I suddenly lose all my income.
  4. I tracked my expenses meticulously for a month, and now know more or less how much I spend every month and on what (90% coffee, 5% rent, 5% sundries).
  5. I now know how much money I’m going to need if I want to retire with the quality of life that I want.
  6. I got myself a financial advisor, who is very nice and is, as it turns out, a human.
  7. Thanks to my financial advisor, I’m now fully insured, and don’t have to worry about being left with a massive doctor’s bill if my health suffers.

Thanks to WellSpent and the editors, I’ve gone from desperately wanting to take a break to creatively recharge, but having no idea how to do it, to taking the plunge.

I worked out a complete budget for the year, noted all the risks, balanced them against the rewards, and now I can happily take my sabbatical, knowing exactly how much time I have, and therefore not worrying about where I’m going to get my next paycheck from.

And now that I’ve had a taste of financial freedom, and freedom from my desk job, I don’t think I ever want to go back.

If you haven’t already read your way through the easy-to-read but information-packed Journey Series, I urge you to head to the beginning of the article timeline, and read the whole thing. It’ll be time Well Spent.

(see what I did there?)

Regards and best of luck

Jon.

 

 

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