Maybe you hate full time jobs.
Or, like me, maybe you find the jobs interesting for a few months at most, and then you’re ready to do something else.
But hey, you still have to pay the bills, right?
So, can you survive without a full-time job, or even without a job at all? You can if you develop enough others Sources of income.
But it is not so simple. You also need to know how to handle the ups and downs of life without a weekly or monthly paycheck.
Here’s how I manage to avoid jobs most of the time and pay bills. Of course, your results may vary, but here’s a basic overview of how you can live without working:
1. Take control of your expenses
If you want to avoid posts, this is useful Being a little frugal.
but Try to spend less It does not necessarily mean sacrificing something important. It can be a way to get more of what really matters.
So, if you want a richer lifestyle through frugality, watch how you spend your money.
And when it comes to living without a regular job, you don’t always have to think in terms of savings.
You just need to control your expenses to spend less than you earn. If you double your income and spend 50% more, you’re doing just fine, right?
Keep your fixed expenses (which you can’t quickly reduce or eliminate) low, and you’ll be able to withstand the ups and downs. irregular income.
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2. Diversify your income
It is useful to have multiple sources of income, so that losing one of them does not lead to your candidacy. I am looking for a job. You can write for content sites, Selling used booksAnd Rent rooms in your house and earn money By collecting deposit boxes and bottles.
“Last year, like the year before, my wife and I had over 20 sources of income, and none of them accounted for more than 25% of our total income. Since we controlled expenses and lived on about 75% of our income, we could have lost No source of income and we still get away with it.” Mr. Dominic said.
You should also strive to diversify the types of income you receive.
Here is an example of some of the things you can do in each of the following three types or categories:
- Business (including self-employment): You can make money from websites, write in blogs, or even collect royalties from books.
- Temporary employment (we’ll get to that in a bit)
You can find many other ways to make money here on Dofinpro, including 50 ways to make money from home (Yes, I’m writing this at home in my pajamas.)
Of course, unless you have a “regular” and successful business (which sounds like a job to me), all of the examples given so far provide fairly unpredictable income.
This is why you should…
3. Always money in the bank
If you have enough money aside, your income fluctuations are not that important.
“A few years ago, changes to the Google search algorithm caused our site’s revenue to halve in one day, and it has continued to drop, from over $10,000 a month to about €200 a month now.
Honestly, we are so stressed about this “small” change in our lives. But at least we saved some money during the good times.
It’s up to you how much is enough for you, but I wouldn’t feel comfortable if we didn’t have enough savings to pay the bills for a year or two.
Even with money in the bank, said Mr. Dominic, my wife and I don’t wait for this or that source of income to dry up so we can act.
4. Create a side business
Create a secondary activity means you are going Start your own business next to. It will be like a second job, apart from your main job.
It can be very rewarding to create something out of nothing. You’ll want to start by creating a business plan.
This plan doesn’t need to be formal, it’s just a way to put your ideas, plans, and goals on paper.
Then, as you progress through your work, you can refer back to your plan to see if your current journey aligns with your goals.
Examples of businesses you can start:
- mobile authenticator
- Digital marketer
- E-commerce store owner
- Accounting assistant
- Pet nursery
- baby sitter
- Installing floor coverings
- Furniture assembly
- CV writing
The list is long!
Consider your passions and experiences to determine the type of business you can run.
5. Only good debts
“Bad debt” is money you owe for consumer goods or anything that doesn’t improve your financial situation.
“Good debt” is one that generates or allows income to save moneyfor example by borrowing for education which improves your ability to earn money, by borrowing for rental property, and even by borrowing for your home – assuming that it actually lowers your costs compared to rent.
Only aim for good debt if you want to live without a regular job.
6. Plan changes
Sometimes you know you will lose your income, like when you plan to say goodbye to your boss.
But also be prepared for unexpected revenue losses.
Almost any source of income can slow down or dry up unexpectedly, so plan ahead. emergency plans.
What would you do if you got injured and couldn’t work for a while? What will you do if this or that source of income disappears? And if you sold an investment – where would you put the money to generate income?
If you ask yourself the right questions and make some contingency plans, you’ll be less stressed when life throws surprises at you.
Do that and use the other strategies outlined here, and you can track the ups and downs of income without ever resorting to a 9-to-5 position.