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Don’t Want to Work for The Man Again

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The only huge negative about self-employment that is a little rough for me is the feeling that I am waiting for the other shoe to drop.  Having a job that I love for the first time also means worrying a little that it will go away.  So I’ve been thinking about backup plans for our finances so I’ll never have to work in a cubicle again unless by choice.

Lowering Our Monthly Nut

Mr. BFS and I save a lot of our income for different goals and padding.  But our main way of combatting the need to find “real jobs” again is to take regular looks at our monthly expenses and make sure we know what we can cut if necessary.  We just paid off our rent house about a month ago and are also working to pay off our last mortgage so our overhead could be as low as possible if necessary.

Property taxes and income taxes will always mean we need more than we did when we graduated from college, but rental income and more skills also means we’re in a better position anyway.  Overall, the less you need to live on, the more flexibility you have with employment options.  That’s very important to us since we both appreciate working from home more than we ever thought we would.

Backup Plans

Our other way to stop worrying is to remind ourselves of our skills.  Even if blog advertising isn’t around anymore, I know that I could make a living online via blog commenting, staff writing, ghost writing, or even by being a blog manager or assistant.  We only really need $5000 a month to cover everything including taxes, and even in a bad month, I could bring in $3000 online.

Then Mr. BFS could just sign up for more sports officiating to cover the other $2000 a month or more.  He also could use his Master’s of Librarian Sciences again if necessary, although I think he would like sports officiating more.  We both also have more customer service skills than we ever had before and could look into that field for openings too.  If we were desperate, we could even run social media for others and make a decent living (neither one of appreciate social media sites as much as normal 30 year olds).

Overall, between lowering our monthly expenses and knowing what I can do if all else fails, I feel like I am on the right path.  My business is doing well and hopefully will continue that streak for years, but I am the sort of person that needs backup plans in place since change is usually not my favorite thing in the world anyway.

Do you have backup plans for your situation?  Any other job suggestions for me if I’m ever in the market again?

FYI:  I worked at a dead end cubicle job from 2005-2011 for about $30,000 per year.  I went self-employed in July 2011 and make between $70,000-$90,000 through blogging, professional pet sitting, hubby's reffing, and our rental home.  If you’d like to start your own site (link to my free step-by-step guide), I highly suggest checking out Bluehost (my referral link with a nice discount for you, PLUS a free custom header banner from me!).  Please contact me any time at budgetingfunstuff*at*gmail*dot*com with questions or just to brainstorm! I’d love to help!
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14 thoughts on “Don’t Want to Work for The Man Again

  1. You could spread around the risk a little by getting a couple of part-time gigs as a writer for other sites and then hire an additional writer or two for BITFS to get your time back…..

    Being a staff writer for other sites would bring in both steady money and traffic.

  2. I am single and only have myself to rely on so I am continually on the hunt for a workable back up plan.

    I have reduced expenses but increasing my income is the only way I can figure out to stay safe.

    I just have to figure out how to earn more money.

  3. It’s always important to have a backup plan. I think it’s great you love your job so much! Honestly, I’m jealous!!! 🙂 I like my job, but I know it’s not my dream job. Still trying to figure it out.
    If I were to lose my job, I wouldn’t be afraid to do anything. Seriously, if I couldn’t find anything, I would start working at Starbucks. LOL.

  4. Whenever I make a decision, I always have a plan B. In accounting, they call it belts and suspenders. If one fails, the other will keep your pants up. I think it is a good metaphor for life. It is one of the reasons I believe in multiple income streams. In my situation, I have Social Security, pension, IRAs (Roth & IRA), brokerage accounts, blog income and other assets. When I retire, I will have no debt and can easily live on Social Security/pension.

  5. “Lowering Our Monthly Nut” – you know, that would make a good book title. I may have to steal that one 🙂

    I’ve been on a quest lately to cut my own “monthly nut” as much as possible. Retirement is in the rear view mirror and closing, and I’ve got the urge to dump as much money as possible into retirement vehicles.

    If a person takes a good, hard look at what they do shell out a month for the basics and then some, they would find an amazing amount of waste.

    I caught myself whipping into Sonic the other day for a Route 44 iced tea, just because it was Happy Hour and the drink was half-price. I didn’t need tea, I had a bottle of water in the seat beside me. But, that promise of saving money almost made me spend it instead of saving it.

    Old habits die hard 🙂

  6. @Jenny, that’s an idea but people generally lose interest in a site with too many staff writers if it started out as a personal site. That’s one of the reasons that Amanda only posts twice a month. But ghost writing and staff writing are definitely backup options if needed. Thankfully, I have enough experience that I could find a job or two in that field overnight if necessary. Yay for 3 years in the business. 😀

    @Jane, do you like any specific hobby or activity? When I wanted extra cash, I babysat, petsat, and even worked part-time at a bookstore. Good luck!

    @Michelle, thanks and good luck!

    @Savvy Financial Latina, oh yeah, I’m with you. When it comes to keeping my financial butt covered, I would look into anything.

    @krantcents, sounds like you have doubled up with belts and suspenders, lol.

    @Wendy, LOL. It isn’t my phrase, so steal away. 🙂 Oh, and Happy Hour at Sonic is a personal splurge too…yummy Coke Zero with vanilla, baby! Sometimes I just have to nod my head at a solid marketing scheme. 😀

    @Sean, we’ve got our health insurance to $357 a month but we are high deductible through Celtic (which we found on Esurance). For social interaction, we made our friends through a board gaming meetup group and also plan events and activities at least once every week to get ourselves out and about. Good luck.

    @Mike, good idea…like what situations would you plan for?

  7. I still work for “the man” but I really enjoy what I do. However, even in a more “stable” position, it’s always a good idea to have a back-up plan. Mine is taking on freelancing gigs. I’ve been working non-stop since I was 14 and I don’t see that stopping anytime soon. 😉

  8. @LH, you are a hustler! 🙂 I personally just want everyone I know to be happy, so if they are happy with “regular” jobs, woot! I know a few of my friends are only okay with self-employment and a few are only okay when they work for a big company or something stable. More power to anybody that simply finds a job they like! 😀

  9. Ever since quitting my daytime job to write/blog full time, I have made it a mission to cut our fixed expenses by as much as possible. So far, we are paying $25 less for internet/cable. Next on the list is trying out Geico and Geico Advantage (based on your recommendation), as well as USAA in order to lower our auto and homeowner’s insurance. Wish us luck!

  10. Crystal, I have always had back up plans. They help when the middle of the night concerns hit every once in awhile. If for no other reason, that is why it is so important to have as large an emergency fund as possible and build up as big a nest egg as you can. Wealth gives peace of mind.

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