This is the first post in a series I’ll call Making the Money Work which will look at 1. Living costs, 2. Income, and 3. Savings.
Now that I’m embarking on escaping the 9 to 5 office job, one of the first things I need to address is the finances. Before I can “have a little chat” with my boss I need to know:
1. how much money do I need for the next 6-12 months to to keep me out of the gutter (living costs)
2. how much money can I expect to generate in the first 6-12 months of leaving my office job (income)
3. based on the first two assumptions, how much do I need saved before I can finally turn my back on that sweet, sweet weekly pay check AND how long is it going to take to get there (savings)
I am going to go through each of these processes over the next few weeks and keep you posted.