Years ago I decided that I would get a lesser paying job than the one I was working. I never liked the job to begin with. I wanted to have a stress free life. However, since I had a child who would be entering college I wanted to earn as much as I could to help her out as much as I could. I managed to save three years worth of college expenses. She has two years of school left (sad face) but I did the best I could.
When I lived in my big house in the suburbs, I planned to buy a small house in the city. I was exchanging a large mortgage and utilities to something affordable. I accomplished this. I now live in a home where I can earn about 1/3 of my previous salary and still be alright.
I purposely sought out opportunities to reduce my expenses.
- I opted to not have cable and instead subscribed to SET TV.
- I purchased a Honda Accord that I could pay off in four years rather than the five-year loan I took out.
- I moved into a small house with low utility bills and low upkeep.
- I worked from home three days a week and only 3.5 miles from my job so I saved on gas.
- I stopped my personal training sessions which were costing me about $3,600 annually and opted to enroll in unlimited boot camp with an annual cost of less than $1,000.
Reducing my expenses has given me a sense of freedom. I no longer wake up feeling like I have an elephant on my chest and that I HAVE to earn a high amount of money to keep a roof over my head. It brings me joy and satisfaction that I have no student loan debt and so I have options for employment.
I am a lawyer. I do not have to practice law in a large law firm or be an in-house counsel with extreme travel requirements. I can use my law degree in a number of ways and still be happy. I have thought about getting an R-Pod (small RV attached to a car) and traveling around the country picking up contract work. I have thought about going over to over countries and teaching financial literacy classes.
I have reduced my financial footprint and so can you. Even while visions of leaving my job danced in my head, I continued to contribute vigorously into my retirement account. I also continued contributing to my emergency fund. No matter what I wanted to have money in my savings account. I am doing everything in my power to ensure that I have my car paid of by September 2019. I can “save” about $6,000 annually with having no car payments. This money can be placed into my savings account or go towards retirement contributions.
In the movie Spider Man, Peter Parker’s uncle told him, “with great power comes great responsibility.” https://www.youtube.com/watch?v=IKmQW7JTb6s
I do not want the responsibility that comes with a higher paying job. Looking back I only wanted the money and that wasn’t good enough anymore.
Last night, I attended a rap concert. One of the rappers, Yo Yo, told the audience you will never find peace unless you live in your truth. My truth is that I want and have always wanted a simple lifestyle. While others looked at me as this amazing career woman, I just wanted to have a normal job, a small house, and a normal amazing husband who can do yard work and fix anything that breaks. I am not against having a leadership role. I know that I can still be a leader but I don’t want it if it means that it destroys my sense of peace.
These are ways you can reduce your financial or scarcity footprint:
- https://www.ellenrogin.com/steps-to-reduce-your-scarcity-footprint/
- https://www.acast.com/thebpozpodcast/episode-7-reducing-your-financial-footprint-does-it-make-you-happy
- https://tinybuddha.com/blog/9-ways-to-need-less-money-stress-less-enjoy-more/
If you are struggling with whether to stay in your high salaried stress filled job, then think about making a change. The sense of peace that I have is priceless. I instituted a plan and the plan is working. I spend less so I don’t have to earn more. I spend less to also save more. I am in a win-win situation.