One phrase I often hear is “Michelle, you’re just lucky. Your story doesn’t really apply to anyone else.”
Someone even tweeted me yesterday and told me that while they liked my story, that it’s just not realistic.
I even had a friend tell me the other day that she hated her job and she felt like she was having a quarter life crisis. She didn’t know what to do next – leave her stable, but stressful job, or finally pursue something she wanted to do?
One of my top tips for anyone who wants to pursue a job they want is to work towards being more financially stable.
It makes the whole process easier because you won’t have to stress about money (as much) and you can focus on other things in life. Being financially stable can make getting or keeping your dream job more possible for many people.
First, lets not confuse what I’m talking about.
The job you want to pursue doesn’t necessarily have to be your “passion” or dream job. The job you are wanting can just be something that allows you to lead a less stressful life and do what YOU want to do outside of work. That could be spending more time with family, traveling, and so on.
Not everyone wants to combine their passion and their careers, and that is completely fine.
However, I don’t think anyone should ever completely hate their lives and their jobs. There are ways around that, and if you are spending a fourth of your life at your job then I think you should at least somewhat enjoy it.
It won’t always be easy.
I say this all the time, but great things in life don’t come easy.
A goal wouldn’t be much of a goal if you could reach it with no real effort.
Before I was able to leave my day job, I was working like crazy. I worked full-time jobs while also having a full course load in high school, undergraduate school, and graduate school. It was tough, but well worth it in the end.
You might have to work long hours in the beginning, take on side jobs (more on that below), sacrifice your social life, and more. However, it’s all about that end goal!
Related article: How I’m a Work-Life Balancing Master.
Cut your budget.
If you don’t have a budget, then you need to start one now.
If you don’t feel comfortable leaving the job you hate to pursue one you want, then you might want to see if there is anything in your budget you can cut. You can even go a little crazy and create a “bare-bones” budget where you cut everything you can so that you can reach your dream life a little more quickly.
Related article: 6 Ways To Be More Frugal and Save Thousands.
Pay off your debt.
Many people say that they don’t feel comfortable leaving their “stable” job because they have debt. Well, pay it off then!
I know that’s easier said then done, but you can always start paying it off now. Create an action plan, pay off that debt, and live a debt free life sooner rather than later.
You need an emergency fund.
I am a big believer in a well-funded emergency fund. We have a large emergency fund and we always have. The peace of mind it gives is well worth it.
An emergency fund helps me feel more confident in my business because I know that if one large expense pops up, or if I have a bad business month, then I can fall back on my emergency fund without feeling like I need to give up on my dream life.
If an expense pops up, you don’t want to stress about how you are going to pay for it. You also don’t want to put a large unexpected expense on your credit card that you can’t pay for because that will just lead to debt and interest charges you can’t afford either.
Pursue income on the side.
In some cases, you may need to pursue additional income in order to live the life you want to live. This might mean starting a part-time job, creating a side hustle, or adding passive income to your income stream.
I pursued side income for many years, and it helped me pay off my debt quickly so that I could leave the job I did not like and pursue my business full-time. It was hard in the beginning, but it all paid off and I would say that it’s one of the best things I have ever done.
Related page: Extra Income.
Have insurance.
Okay, this might sound like an advertisement, but I promise it is not. Having insurance (such as for your car or home), can help you lead a more stable life.
Too many people enter rougher times and eliminate their insurance policies. This can be a disaster because when you finally need to use that insurance, you may no longer have it.
I remember hearing about families who skipped out on paying their annual fire department bill (in some cities you have to pay this separately), and when their homes caught on fire, the fire department saved the people in their homes, but let the animals and the home burn down. Whether or not you agree with that, it has happened in the past, and it can happen again. It’s best to be insured.
What are you doing to become financially stable?
Do you have the job you want? Why or why not?
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Great point about your passion and your career. They can be seperate but your career should be enjoyable.
Thank you Ced!
I don’t think your story applies to other people because other people don’t have your work ethic! You’ve outlined how eliminating debt, becoming your own boss and amassing a hefty e-fund can all be done at a young age, but the bigger message is that you worked your tush off. So many folks (and at times myself included) want to just come out and watch TV and do nothing. I can’t image you really let a single moment go to waste while you were paying down debt and hustling to build your own business. Plus, not everyone wants to be their own boss, so it’s about finding your own priorities. All I know is that I have tons of admiration for you and what you’ve built!
Thank you! Yeah, I’m the type of person who likes to rush through things, but thankfully I’m taking life somewhat slower now 🙂
Great post this is essentially a nice manifesto on becoming completely financially stable. I’m all for people finding a job that makes them happy but it needs to be realistic in a way. Because I love basketball and love making money, I think I would be very happy if I was a player in the NB., But that will most likely not happen. But if I can find a job that keeps me happy with a good standard of living while allowing me to play basketball for fun, that’s something I would look for.
Thanks Syed! Haha playing basketball for a living would be fun 🙂 What do you do for a living currently?
I’m an optometrist. Which is great, but not as fun as playing basketball 🙂
Haha yeah not the same 🙂
Yes, getting started is a great motivator!
Hi Michelle, actually, I didn’t expect that working online would be the best job for me. I was working as a personal secretary and I think that was the best, until I found out that I wasn’t happy after all.
Are you happy now? 🙂
I think my job is right for me right now. Does that make sense? I’m only a few months in and still on a huge learning curve going from one part of our business to another, as well as from finance to accounting, but I think it’s hard to know whether a job is right for at least 6-12 months. But I think you give some great practical advice here. I think forcing yourself to pursue something on the side first is a good way to judge whether you ever really want to pursue that thing full-time. There are plenty of careers that pay well – trust me, I work with people who are making much more at a career job than most small business owners I know. But anyway it’s an individual choice everyone has to make.
Sounds like you are doing well DC! Good job!
You know, I hear similar comments. Choosing to live on less than we make and save to create an emergency fund allowed my husband and I to make a number of career decisions that have paid off nicely. But looking at us people don’t see the choices (that we still make today) to work extra and live smaller — they just see the end result.
Congratulations on your choices to prepare for the long term!
Thank you Jean! 🙂
I’m not really trying to pay off debt any faster, but I am trying to shore up my emergency savings and pick up extra income. I would LOVE to have a better work/life balance, but I know I have to be patient! Btw, for what it’s worth, I think your story is realistic and I would LOVE to be your protege if you ever start a mentoring business 😉
Thanks Melissa! I have been thinking about expanding my mentoring business. I haven’t made it public yet (I mainly just mentor St. Louis small business blogs), but I do offer it to anyone who emails me, just so you know 🙂
I must work up the courage to come up with thoughtful questions and not waste your time, then! 🙂 Thank you, Michelle!
Haha welcome Melissa!
i hate cutting my budget but alas its a necessity
You can do it! 🙂
I’m not gonna say there is NO luck in life, but to attribute ALL success to luck is crazy. Just another way people deflect personal responsibility and allow themselves to feel victim to their circumstances. The only reason I’m becoming a successful writer is because my original career path, acting, was so freaking hard and unlucky. Gotta always be looking for opportunities to create luck.
I love everything you just said Stefanie. Yes, there is luck, but not all success is attributed to it. Sounds like you are doing well even though your original career path was unlucky. Your blog is one of my favorites! 🙂
I’m working to pay off (a lot of) debt, which will make a huge difference in my family’s financial stability.
I think we’re so lucky that the definition of work has expanded so much, and we can find creative ways to balance it with our lives more. This is especially important for parents, since working from home, working for yourself, job-sharing, and other tools make it possible for both parents to find a way to work.
Good job on working to pay off that debt! 🙂
This is good advice to prepare for before anyone can make the leap into self-employment. Finding that one thing, which you can do on the side that makes you money, is the enigma that we all need to solve.
Thanks! 🙂
I do think you are fortunate, Michelle, but I also know you created your good fortune through your incredible work ethic. I’m of the belief that if you truly want something, you’ll figure out a way to overcome all those obstacles. A lot of people get stuck in rut and someone succeeding where they cannot scares them. Love your steps, especially having an emergency fund and insurance. I have never met anyone who lived an emergency-free life. Things always happen and sometimes all at once. And I love how healthy yours is because it frees you to focus on finding new clients when have a bad month, rather than worrying about paying your mortgage.
Thank you Shannon 🙂
Starting is the hardest part, for a lot of people, I think. I know it is for me. I have a million and one ideas, but actually executing them is the tricky part!
Your point about insurance is key, and for Americans, having a plan in place for health insurance, too. That is, if your plan is to become self employed, or to resign without a new job on the way.
Yes, insurance is very important! I have been going through all of our insurance policies this week to make sure everything is correct.
I am looking to get a full time job again so that I can eliminate my debt. I’m currently working two jobs and I’m not making enough money to actively attack this debt.
I hope you find the perfect full-time job. Good luck!