We haven’t written on BFC for a while, and really I’ve struggled putting pen to paper over the past few months to talk about personal finance. So much has happened over the last 8 months and I had to muddle over how these changes have impacted my view and relationship with money.
The most important lesson, diversifying income. I had always talked about having a side hustle, but I never “felt” that I had the time or the headspace.
Forced Pause Lead to a New cup of ambition
Reflecting back to March when everything slowed down, we had just closed on Lady Winthrop and I was thinking about cabinets, tile, and then full-stop, I lost a role that I thought had been my dream job. I surprised myself by the fact I didn’t throw myself into a job search, I focused on securing tenants for April 1st, I started helping my dad with the renovation on the house beyond just picking out materials, and most importantly, I created an UpWork account and landed my first client.
I created a website for job search strategy resources and slowly, but surely I landed clients and developed a small brand as a job search strategist. I loved the independence of it, but I also missed the routine of a full-time role.
I’ve since started a new role which I’m very grateful for, and I also continue to work with clients outside of hours. My friends have asked me whether or not I’m still working with clients, and the answer is 100% yes.
Creating a ship to come In
My side hustle has made the difference in continuing the home renovation project and now, it’s pushed me forward in my savings goals. While I work with a limited number of clients, the additional income has made an impact in my total income, and it’s allowed me to have more ownership and control over my income. The “work” is something I love so it also doesn’t really feel like “work”.
This leads me to my second lesson, I’ve realized that I like having some feeling of control over my income. In any full-time role, that is less of the case and that would be true no matter the organization because compensation growth happens through yearly reviews.
Working 5 to 9 (what a way to make a living)
The change in mindset means that I am more focused and efficient with my 9 to 5 so that 5 to 9, I can focus on my consulting business. I wasn’t sure if I was going to be able to keep up with my clients, but a key lesson has been learning to really monitor and maintain my energy levels by being really conscientious on the work that provides me energy and vice versa. Moving forward in the future, I’d love to continue building out this side hustle so that it is a core part of my total income year over year.
These changes in mindset are simple once written down, but the journey to discovering and building out a side hustle has been a journey for me and one that I am proud of.
You’ll be hearing a lot more from us moving forward and I’m excited to continue sharing our finance journey.