Frugal Feature: How Can Quitting your Job Help You to Save More?

Save Money Working for Yourself The following Frugal Feature is a guest post from my blogger friend Jonha:

Wanting to earn more than I currently make in my day job, I decided to take the path of freelancing as a Social Media Strategist. When I quit my day job, the one where I stayed for more than 4 years, I already had a goal of not just earning more but most importantly being able to save more than I used to.

I thought freelancing could open a much larger cash flow for me. However, things didn’t go as easy and as fast as I’ve expected it to be. It’s not just like shopping, or finding the best satellite tv deals on the web, or deciding which makeup to put on. When freelancing, you have to constantly compete with other freelancers in terms of rate, deliverables, speed and over-all performance whereas with your day job, the competition seems to have watered down. It’s like you don’t have to worry about other sharks constantly waiting and on the look out to snatch your current projects – unless of course if you’re VP on that competitive executive level.

The kind of competition with the freelancing world has helped me strive to prove a little more, double my efforts and be constantly motivated to reach my financial goal – to earn more than I used to earn at my nine-to-five job.

Quitting my day job and deciding to focus on freelancing wasn’t an easy decision but has proven to be a good one as it have helped me save even more with the following steps and due to the following reasons:

1.  Have a specific goals and stick to it

Decide on what you want to achieve whether it be short-term or long term. Having specific and detailed goals will give you better chance of reaching them. My main goal was to earn and most importantly, save more than I used to.

 2.  More control on how much you can earn

When you’re with your regular nine-to-five job, your monthly income is fixed and restricted as to how much your basic salary is. Minus the taxes and other mandated contributions for employees. However, with freelancing or working at home, your monthly income may be unlimited depending on how hardworking and resourceful you can be.

 3.  The challenge is always on

Once you reach your original goal, you move on to the next level. There’s no stopping you to grow. The constant challenge to do more, earn more and save more is quite like a constant motivating force that has helped me to take one step higher and just keep moving.

 4.  Lesser Expenses

I don’t’ know about you but I think working at home or freelancing has helped me lower down various expenses such as travel expenses as I don’t have to commute anymore. Another expense which has dramatically dropped down is the clothes expenses as I don’t have to constantly update my wardrobe just to fit in the office style. No one really cares if I’m working at home in my pajamas.

 5.  Save more time for your time

The only thing that you can recycle once wasted is time. It is therefore important to spend it with things and people that matter to you the most. I’m happy that quitting my job has not only helped me to save more money but also helped me to save enough time to spend with my mom who is my sole family. I have also saved more time to do the things that I really love.

 

While I don’t really encourage everyone to go work-at-home and take the path of freelancing like I did (I don’t really want you all to compete with me ;), I suggest that you go over your financial goals one weekend and see if your current status is helping you to achieve them.

Don’t be afraid to take that courage and step onward towards your goal as the only to get to where you want to go is to leave where you are.

 Jonha D. Revesencio is a freelance Social Media Strategist, curator of Epic Infographic and a personal finance blogger at Saving is Sexy.

 

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