now reading:

7 Steps To Save Money And Quit Your Job

share post:

back to top 

Set Yourself Up to Quit Your Day Job

Career + Finance

7 Steps To Save Money And Quit Your Job

August 23, 2018

by: The Dimple Life

Over the past few weeks, I’ve gotten countless questions on how I was able to quit my day job. I really value stability but even more than that, I value freedom. Two qualities that sometimes don’t mix well when we’re talking about a job. I knew that at a certain point I wanted to quit my job but would have to do it in the least risky way possible. It took some planning and months of saving up for the right time! I thought now would be a great time to share with you all exactly what steps I took to quit my day job (as comfortably as I could).

Calculate your monthly living expenses

I summed up my monthly mortgage, credit card balance, car payment, utilities, groceries, and my average monthly miscellaneous shopping expenses. This is so important to know the minimum you need to make in order to live for a month.  I also further broke down the miscellaneous expenses into separate categories – meals out/entertainment, beauty (for example, eyelash extensions, mani/pedi), clothes, and home supplies. Once I laid everything out, it was eye-opening to see exactly where my miscellaneous money was going. So much was spent on FOOD. Once you actually see where your money is going each month, you become a bit more mindful. I know I did!

Which brings me to point two…

Reduce your miscellaneous expenses

Knowing that food was a big expense for me, for several months prior to quitting, I started cooking more. I genuinely love cooking but sometimes I get a little lazy in the kitchen! So even when I was tired, I would cook at home instead of order delivery from Postmates (deleting the app helped!) or buy quick food. Over months, I saw my food expenses go down by thousands. Spending $15 at sweetgreen or on a poke bowl – it all really adds up!

Find ways to be able to cut costs. This will not only help you save so you can quit but also teach you better spending habits once you do quit. Keeping costs as lean as possible means maybe I won’t go out to every social occasion, or spend frivolously when I’m shopping. Time to rethink the $6 matcha!

Play games with yourself 

I actually used to create games or challenges for myself. For example, today, I will spend $0 and let’s see how many days I can go without eating out, without buying something unnecessary at Target, etc. If $0 is hard, give yourself a minimal budget each day. For me, when I made it a challenge to myself, it was more fun and less about what I was missing out on.

Save at least 6 months worth of living expenses

I thought I could do it with 3 months of savings but I’m glad I was patient and saved up more. A month goes by quick in freelance/entrepreneur world. Six months is really a minimum. I would even save closer to a year’s worth of minimum living expenses to truly feel comfortable and give yourself time to excel in your next endeavors.

Eliminate your credit card debt

The last thing you need is credit card debt with a high interest rate to worry about. Take care of your credit cards and zero out the balances before you even think about quitting! I’ve never shared this but many years ago, I had up to $15,000 in personal credit card debt. At the time it was so stressful to know that I had such a large balance but now it’s such a relief to know I don’t have to worry about seeing that high number on my credit card statement! As unhappy as you may be at your job, it’s even worse when you don’t have a reliable job and have debt!

Diversify your income sources

Outside of your main salary or paycheck, have additional income coming in already. I was making money from brand sponsorships on social media and also bringing in consistent income with my own independent digital marketing consulting before I could even think about quitting.

It’s scary enough as it is to quit your job but it’s even more scary if you quit without having other money come in. A savings is great but you’ll need income coming in right away so you don’t deplete your funds within a few short months.

Now I’m also making supplemental income from Shop Your Element. Diversify! If one income source were to ever drop off for whatever reasons, I know I’ll be ok because I still have other revenue streams.

Have an emergency fund

I have a separate savings account where I have 3 months of emergency money. You never know when a huge expense could hit you so it’s best to be prepared and not take money from your living expense savings.


I hope these tips were helpful to you! I know these helped me along the way and got me to a point where I’m now pursuing my passions in health and wellness, as my job.

Always feel free to reach out to me if you have any questions! I’m happy to help you achieve your goals! xo

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *

I'm looking for support with:

explore the blog

More on the Blog

I'm looking for support with:

self growth

career + finance

food

movement

home

beauty

relationships

do good

It is hard to know where to begin with volunteer work. Here are a few resources that can help you find the cause that is right for you. #Volunteerism #Volunteer #SocialImpact #NonProfitOrganization

There are so many opportunities to become involved in our communities to really make a lasting impact in our world. It can be overwhelming though when you don’t know where to start. If you are someone with many different interests and don’t know which cause specifically would be best to get involved with, starting anywhere […]

Non profit organizations that support teachers and education.
Where to purchase a coronavirus non medical grade face covering or mask. Here is a round up that can help protect you and your community. #COVID19 #coronavirus #healthylifestyle #TheDimpleLife
It can be daunting to make friends as an adult with limited outlets the older you get. But that doesn't mean it's not possible. It takes getting out of your comfort zone and knowing where to look but know that it is possible with the following tips. #Friendships #Relationship #MentalWellness #MentalWellbeing #TheDimpleLife

It can be really daunting to create friendships as an adult. When you grow up, it seems like there’s more opportunity to create relationships with your classmates in school, with your coworkers at work, and through various social settings. As you grow older and enter different phases of your life though those outlets can shift […]

Why teaching 'family first' doesn't work all the time. #FamilyRelationships #HealthyRelationships #Boundaries #TheDimpleLife

Ever since I was in elementary school, I can remember a school project where I presented that the most important motto to me is “Family First”. This thinking was engrained into my upbringing from a very early age. On surface level, it’s quite beautiful. Family truly will always mean so much to me. However, at […]

The five love languages explained so you can discover your own.

Do you know how you appreciate receiving love? Do you know how you appreciate giving love to others? These are all tied to your love languages. This may be from learned behavior you’ve seen or experienced growing up – knowing you loved when the special people in your life showed love in specific ways or […]

How to transition to a clean skincare routine and clean skincare products #CleanSkincare #NonToxicSkincare #NonToxicBeauty #TheDimpleLife #CleanLiving

When you have your set routine of products you enjoy using, it can be hard to transition away from your beloved products that may not be deemed as clean. But if you are determined to transition into a more non-toxic lifestyle, your beauty and skincare products may be the easy entry you are looking for. So […]

The top natural, nontoxic, clean face cleansers. If you start anywhere with beauty, start with a clean face! #naturalskincare #cleanbeauty #cleanskincare #holisticwellness #TheDimpleLife

I’m a firm believer that if you want to invest in any kind of skincare, you should start with the first step: nontoxic, clean face cleansers. You don’t want to put a bunch of serums and moisturizers on skin that isn’t clear of dirt, oil, and other impurities.

What is gua sha? Learn how you can get the benefits of a luxe facial massage, from home. #guasha #guashatechnique #facialmassage #TheDimpleLife

Gua Sha, also known as spooning, coining or skin scraping, has increasingly been mentioned by my friends over the past year. Based on their feedback and my never-ending pursuit of glowing skin, I decided to delve in and learn more. In this article, I want to break down exactly what it is, what the benefits […]

Sleeping in an unfamiliar room or hotel can be difficult when you're traveling. Here are a few essentials to help you relax and get the sleep and rest you deserve. #Sleep #SleepRoutine #TravelEssentials #MindfulTravel #TheDimpleLife

Traveling can be an exciting adventure, a relaxing escape, or something in the middle, but regardless of whatever type of travel experience you have coming up, the quality of your sleep (or lack of it) is a constant to be mindful of. It can be difficult to be away from your routine, your bed, and […]

How to create a peaceful bedroom environment.

It can be hard to keep your home tidy, especially if you have pets, kids, a partner or other people who you share space with. The one non-negotiable I’ve learned over time is the importance of creating a calming and peaceful environment in my bedroom. My bedroom is my sanctuary – it’s the area where […]

The top 20 list of the most sleep deprived cities in America. #SleepDeprived #RestfulSleep #NighttimeRoutine #TheDimpleLife

Living in a big city definitely has its benefits. There’s more opportunities to meet a wide, diverse range of people, more stores and businesses, and generally more activity happening. However, it’s still surprising to see certain cities listed as one of the most sleep-deprived cities in America. There is some research and original data reporting […]

For anyone in LA that has never thought to try a boxing class but enjoys group HIIT workouts, I highly recommend checking out one of these boxing studios. #gymbox #bestgym #gymslosangeles #losangelesathleticclub #gold'sgym #bestgymsinlosangeles

After moving to Downtown LA I found myself getting tired with the monotony of the standard workout I was completing in my small apartment gym. In my efforts to branch away from the standard routine, I visited multiple local gyms. I eventually found a love for group High Intensity Interval Training sessions. This new found […]

Top Rated Yoga Studios in Los Angeles

Are you interested in staying fit whilst also focusing on your inner self? You won’t have a hard time finding excellent yoga studios in Los Angeles! I’m not going to lie – it was VERY hard to choose seven winners. However, it had to be done! I’ve made a list of my absolute favorite studios […]

Woman Tip-Toeing On Floor

Sometimes the thought of leaving the house and heading to the gym can be stressful enough to turn a workout day into a rest day. There is no need to let the effort of getting to the gym dissuade you from getting your workout in! I have included below all the information and equipment you […]

Anti-inflammatory juice containing beets, carrots, ginger and more to protect against illness. One of the most refreshing juices I've ever had! #freshjuice #antiinflammatory #guthealth #TheDimpleLife

Beets have always been a favorite for me, whether it’s eating them as beet chips, roasted beets in a bowl, or pickled beets in a salad, there are so many different ways to be able to enjoy this root vegetable. They are known to be a strong source of folate, potassium, vitamin C, fiber, and […]

An easy approach guide to eating well at any point in your life. The way to healthy starts today. #EatingWell #HealthyLiving #MindfulEating #TheDimpleLife

Food and how to eat well are tricky topics for most people. With so many different approaches ranging from a strictly raw diet to being vegan to paleo and keto, it can be very confusing! My approach to food though is simple and broken down into the below guidelines. Before diving in, just know that […]

Korean tteukguk rice cake dumpling new years soup

Happy New Year, everybody! I wanted to share an easy Korean recipe with you today. It’s called “Tteokguk” which translates directly to Korean rice cake soup. Don’t let the name fool you, there are so many other goodies in there that it’s not only rice cakes but it’s also Korean dumplings called mandu, meat (traditionally […]

Money saving tips so that you can be a mindful spender especially during sales. #MindfulSpending #MoneySavingTips #TheDimpleLife

Big sales around any type of holiday can be a very enticing temptation. Who doesn’t want to save 25% off of an item that looks like you might need it in the future. Living mindfully doesn’t only look like journaling and practicing being present but it also means being a mindful person when it comes to your […]

Tips on How to Overcome Anxiety as an Entrepreneur

There is so much anxious with the unknown and entrepreneurship is all about the unknown. There is a Lao Tzu quote that really resonates with me and I remind myself of it often: “If you are depressed you are living in the past. If you are anxious you are living in the future. If you […]

There are 12 stages of burnout – did you know that there are so many? It’s more than just a feeling of exhaustion of overwhelm. There are thoughts, feelings, and actions that amount to various stages of burnout. It’s important to know what they are so that you can identify similar behaviors in yourself. This […]

We all have specific wants and desires in our lives. We want to be healthy, we want to have the time to learn a new language, we want to make more money, the list really does go on. One ingredient that is in the recipe to achieving all that you want is consistency. Tony Robbins […]

As we grow up, we lose our ability to evolve into different life paths. This is your reminder that that childlike curiosity will always remain inside of you. Lean into what is possible and be courageous enough to listen. #PermissionToGrow #GrowthMindset #TheDimpleLife

When we were children, we may have had our favorite toys we were obsessed with for a period of time. Playing with it every chance we could get. Always picking it out first out of the options we may have had. And when we outgrew it, due to boredom or age, we moved onto other […]

Life becomes limitless when you view it as an open, blank book full of possibilities. #PositiveMindset #LoveLife #TheDimpleLife

Being open can sometimes be one of the scariest things. You venture out into the unknown, unaware of what is to come your way. However, you can reap so many benefits to living life with an open heart. I’m no expert, but as a strong believer and practitioner of being open to possibilities, these are some reminders that […]

© 2021 3R Media. All Rights Reserved  |  Privacy Policy  |  Terms & Conditions

Site by Sunday Stories

© 2021 3R Media. All rights reserved.
Read our Privacy Policy & Terms & ConDitions