COVID came. Jobs got lost. People went home unprepared for the layoffs. It was worse even for guys that had families and had bills with deadlines.
If you have ever lost a job, then you probably know how challenging it can get to get by without a job.
Some of us have the 8-to-5 jobs that are so demanding and leave you drained, fatigued. So every time the alarm goes off on a working day the first question you ask yourself is, “Do I have to?”
You have constantly thought about quitting over and over but the thought of living without an income makes you wonder how on earth can you live, travel and pay the bills without a proper job? What if you just want to live full-time without having to punch the clock?
Firstly, let's define the term job free as we see it. A Job free life in this case is NOT having that job that runs from 9-5 with a boss. A job from which you get your monthly salary. A job free life is the kind that lets you spend more time with family and lets you plan your day with the activities you choose yourself. But a job free life DOES NOT mean that you do not do anything and just chill out on the beach!
The bad news is that it can be very challenging for anyone interested in taking this direction, but it’s certainly doable with enough and proper preparation.
Changing your mindset can be quite the task as it involves changing how you think about money.
Money is just like fuel, it is only meant to help you survive and it comes and goes.
You have to realize that it’ll always be in your life and you’ll have to treat it well for it to work well for you.
This means having multiple streams of income.
This is great and it’s something you should work hard for because it is a good way to ensure income security; that you’ll have consistent income coming in.
It is possible for someone to diversify their income either with or without an 8-to-5 job. There is a lot of flexibility with this.
You will need a good attitude, internet access and patience for income diversification to work for you.
When you begin this journey, money will not just start coming in by the thousands immediately. This is where having a good attitude and patience come in. They go hand in hand.
You have to exercise some patience to see things through.
Keeping your spending in check and making a budget are two very smart things to do if you choose to stop having a job.
This is because expenses could sum up quickly and if you don’t have a good plan put in place for your budget and spending, you may end up eating all your available money quickly.
You can find ways to spend less. If your concern is about not looking miserable while spending less, check out my article about how to live cheaply but not look cheap
Here are some more ideas to look into:
Make lifestyle changes at home
Cut out luxuries
Go minimalist. This means living on less material things
As I had mentioned before that the key to succeeding at having a job-free life is having various diversified income sources so, it’s essential to, at all times, be on the hunt for any new income opportunities. I would prefer ones that can earn you some income passively.
Two examples of passive income sources you could keep in your arsenal are real estate and investments.
Being more flexible and open to change will take you a long way.
This is because change can or will most likely happen.
Your freelance stream could diminish overnight.
Or, the investment you made could sink unexpectedly.
if life seems to be throwing a wrench in your plans, roll with those punches and maintain a positive attitude
The largest expense for most of us is probably housing.
Yet you will definitely want to keep most if not all of your expenses the lowest possible If you want to live a job-free life. This includes housing.
This may require you to sacrifice some of your wants, at least at the start.
Here are a few ways to save on housing:
Living away from a large city
Renting a room instead of an entire house
Living with other people
Living in an area with less amenities
This does not have to be your life forever but as you build up more and more income streams, it is one of the simplest ways to save money every month.
After housing, transportation is the second most expensive transportation you have after the housing cost.
Here are a few ways you can reduce your transportation costs:
This means making the multiple money sources you already have generate more money for you.
You can achieve this goal this through investing. A few examples of areas you can invest in are:
Stocks and bonds
Bottom line: in order to survive job free and still live a good life, it takes some work.
And, a mixture of good habits, formulating ideas in generating money and saving money.
Is it possible? The answer is yes! Whether it is worth it or not will depend on how well you are hacking it.
The flexibility and freedom of this kind of life is something that not so many people get to experience. Do you live a job free life? Tell us about it. How well is it working out for you?