✨New Blog Post Alert✨!
This month’s blog post is about living on your own terms without the trappings of wanting material things you neither need nor really want. Living without #debt, saving, and #investing for any #goals. Read more – https://t.co/PufDazChLi#OnTheBlog pic.twitter.com/duARIO6q8u — Sisanda | Virtual Work Manager (@vwm_official) April 1, 2021
It was in October of 2019 when the dream of quitting my job became more than a simple wish or daydream and my financial freedom journey began. I didn’t know this at first; I simply cared about having no debt. At first, I wanted to wait until I could ‘afford’ to be without a monthly income but it made no sense to stay. The reason for this was that I couldn’t even afford to start saving some money to finance this venture. Being employed is costly; there’s fuel, traffic, car service, clothing, food, and a million other inconveniences!
My salary literally covered the rent and that was it! I started frantically searching for the perfect job, with the perfect salary and the perfect title. I very quickly realized that this did not exist and so the only option I had was to quit with the hope that I’d be able to make this work.
I didn’t and things got dark very quickly because I’ve always been financially independent; so I had to learn to accept not having things. I was unable to get things I wanted or sometimes needed and I felt as though I had made a terrible mistake. I went as far as considering returning to an old job for a lower salary (which was complete bullshit by the way). I didn’t and it took a while for me to navigate this new life – I had to learn a lot of new things (which I loved) and I’m learning every day. In fact, I make it a point to complete at least 2 online courses to develop myself and my business because that’s what I am now, an asset in my business. I work my own hours, with driven people who teach me every day about the hardships and pleasures of working for oneself.
Yes, starting this business was hard but every difficulty was a lesson and so were the victories. I have grown as a person and as an entrepreneur – I definitely make better decisions. Most importantly, I no longer allow myself to make decisions based on fear of failing.
In April of last year (2021) I started investing more aggressively toward paying off my personal debt. The biggest remaining thing is my credit card and I know it might not seem that big for someone who is employed. I didn’t think I owed that much too until I couldn’t afford the minimum monthly payments with the additional interest they add onto the debt monthly. I came up with a plan to invest over 60% of every invoice payment I received and have outdone myself! The goal was to save enough to be able to pay off the credit card at the end of August 2022. I am happy to report that I am way ahead of schedule so much that I have completely paid off this credit card! I have closed the account and thanks to the pressure of saving to get rid of the credit card, I’ve learned to save. I’m currently saving towards some equipment and software I need for work and to make myself happy… and I’ve started a ‘Rainy Day Fund’ investment plan … not to pay off anything, just to have it!
Related: How to Live on your Own Terms
I’m all about that BUJO life but sometimes I need an actual binder to fully capture what goes on in my head. I use the attached printable to stay on track in my financial freedom journey. Maybe it can help you too! Share your experience in the comments and definitely let me know if you found the free planner inserts useful.
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