Welcome to Part 2 of the How to Quit Your Job Series! Today we’re talking about something everyone dreads but is imperative to speeding up the process of being able to quit your job to work for yourself. Today we’re going to quiet that voice that says “I need money!” and find some ways to save so that it’s easier for you to quit your job.
I see a lot of people who want to quit their jobs and work for themselves avoiding the numbers conversation. They keep saying “I need money in order to do this” or “I need money to quit”, which is correct. The problem is they have no idea how much money they actually need or aren’t sure where to start saving.
The fact is that you may have more money than you think, so “I need money” isn’t really an excuse once you sit down with the numbers and figure it out. If you don’t do this, then you run this risk of never quitting your job. Or, if you do quit your job, you’re in for a hell of a hard time.
I told you from the beginning I’m a practical girl, and I’m delivering with practical tips. In today’s video you will learn:
- How to find money so you no longer need it.
- How to budget your money to prepare yourself to quit your job and work for yourself
- How to determine how much money you need to bring in from your business in order to quit
Check out the video below. Or, you can download the MP3 by clicking here.
I Need Money Video Recap
1. Get Clear.
Whip out your financials and figure out where you stand. This includes tracking how much you have coming in and where it’s coming from. You’ll also want to keep track of how much money you’re spending and create a budget accordingly. You can use the free template below to help you begin this process:
Download Free Income Tracker Template
2. Cut expenses.
Figure out what you value so you can find out where to easily cut expenses. This is how you budget your money without it feeling like a drag. Cutting your expenses also makes it a lot easier to quit sooner because you’re no longer worried about having to make as much money.
3. Get the number.
What number do you have after cutting expenses? This is what you need to make in order to quit.
I often times coach people in Make Money Your Honey Mini Sessions who are convinced that they need to make six figures in order to quit their jobs. This is not true. You just need to make enough to cover your needs after cutting unnecessary expenses. This is so much more feasible than trying to create unrealistic expectations for yourself.
Resources Mentioned
1. Go on a Date with Your Budget Video
2. Money: A Love Story by Kate Northrup
3. Make Money Your Honey Mini Session