Most of the working adults worldwide – no matter what their career may be – at some point in time think about escaping the 9AM-5PM routine but very few actually follow through. The reasons could be many, lack of guts, inadequate savings, complacency or simply no solid idea to build off of. Whatever the reason may be, it’s simply not justifiable, for everyone with enough guts and brain power could escape the rat-race. That’s got to be the stepping stone for more meaningful and rewarding life.
Think about it, if you’re like great majority of the world population you most likely work 9AM-5PM, five days a week. In other words, average working adult spends 33% of his life between the age of 20 to 65 working for someone else. To make maters worse, most jobs people do are truly trivial and contributing to very little other than the company owners bottom line. Life is meant to be much more than that, don’t you agree?
So, should you quit your mundane job today? Absolutely not, you’re far from ready unless of course you’ve been planning your way out and into the freedom for quite some time now. If you haven’t, here’s what you should consider doing before you depart.
No matter what your salary may be at your current job, make a habit of paying yourself first. In other words, as soon as your salary hits your bank account, before you pay the mortgage, rent or any of the utility bills, pay yourself first. Set up a separate savings account or buy a safe and put aside anywhere between 5%-25% of your income on monthly basis.
Next, you’ll need to consolidate all of your expenses and have a clear picture as to your monthly running cost. Try to find the ways to tie up any of the loose ends which might be draining your hard-earned cash.
In parallel, consider making some extra cash to get you to where you want to be quicker. Before you can do that you must first optimize your spare time and utilize it to the best possible use. For example, instead of laying around with brain in neutral browsing Facebook, Snapchat, Instagram research various freelancing platforms i.e., Parttimerz, PeoplePerHour, etc. and see which one is best suited for you. Set up an account, select the services you’d like to offer and set your hourly fees. The beauty of freelancing is that you – not your boss or anyone else – set your own hourly rates. Brilliant!
Finally, based on your monthly burn rate, project how much money would you need to run at your current standard of living for the next 10 years. Once you’ve arrived at the figure, do the GAP analysis i.e., desired state in $ vs current state in $ and pace yourself for it could take some time. Stay focused and freelance your way our of the rat-race and into freedom.
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