I'm about to do a BIG job change and I need some input on my situation, and when is the best time to make the leap.
Currently work in an office and bring home $900 a month.
I'm also currently taking an internship to complete my degree in Web Design.
The internship expires in December, at which time they have guaranteed to hire me on. It is a new business so at this time we have no idea what kind of money I will be making because I will be paid per project. So far I am loving every second of it, and can't wait to do this full time. It will be a mostly work from home job. In every way it is my dream job.
I have decided to quit my current job at the end of December, and take the plunge. I will also go work 2-3 days a week for a local restaurant as a waitress. I'm guessing around 15 hours a week. This would be to bring in a small but steady income to depend on, but mostly just for the social aspect and to get out of the house a couple times a week.
Sounds all good, but I'm having issues.
My current job has became increasing stressful, and I am hating it. I'm also trying to do my best for my internship, which means every evening and every day off I am working on that. It's becoming too much to juggle, and I am finding my work performance is starting to slide. I'm also having trouble sleeping (especially when working into the night), and husband is getting upset that I am spending every evening on the computer playing catch up. Internship employer would love for me to do more and devote more time, but I'm pushed to the limits.
I also do freelance work on the side, and have so far been successful. I have brought in around $3,000 this year, or an average of $300 a month. I feel like I could easily increase that number, but have not been advertising at all because I am already too bogged down, and have put it on the back burner for several months.
Ideally I would like to quit my current job now! But I would like to give them at least 6 weeks notice to find a replacement. So even if I quit today that would already put me into middle of November.
My problem is, I'm scared to jump from full time employment into the unknown. Friends and family are urging me to do it, because they know how stressed I am, and agree this is the opportunity of a lifetime. I keep thinking of the "what ifs. What if the new business can't take off and I can't bring in any income? What if I can't get anymore freelance work?
After doing and redoing the math. It looks like I need to bring in a minimum of $400 a month to pay bills, pay for gas, and have a tiny bit of barrier. But it doesn't leave much room for error, and/or any savings.
If I get the restaurant job. (Confident) At the low end I would work 12 hours and get paid $8.25 an hour. Napkin math says after taxes that is $80 a week or $320 a month. Which is already putting me close to my minimum. I have no idea how many hours they would be willing to give me, so I don't want to count on anymore.
Certainly I could come up with $80 a month right... I would go out and mow lawns if I had to...
But what if the fridge breaks? How will I pay for that?
For full disclosure my husband has a steady job, that leaves him an extra $300 a month on average. That covers unexpected expenses, shopping trips, dining out, etc.
I honestly don't know how much longer I can do all this anymore. I have been working full time, going to school, and trying to establish myself as a freelancer for over 6 years now. I'm to the point where I think it is damaging my health. But I'm also scared to leave my job at all. Even in December, because the risk of the unknown.
Help! Do I wait until January, or do I put my notice in now, and get out in November. My peace of mind, is on the line.
Am I crazy to quit full time steady work for freelance?
Currently work in an office and bring home $900 a month.
I'm also currently taking an internship to complete my degree in Web Design.
The internship expires in December, at which time they have guaranteed to hire me on. It is a new business so at this time we have no idea what kind of money I will be making because I will be paid per project. So far I am loving every second of it, and can't wait to do this full time. It will be a mostly work from home job. In every way it is my dream job.
I have decided to quit my current job at the end of December, and take the plunge. I will also go work 2-3 days a week for a local restaurant as a waitress. I'm guessing around 15 hours a week. This would be to bring in a small but steady income to depend on, but mostly just for the social aspect and to get out of the house a couple times a week.
Sounds all good, but I'm having issues.
My current job has became increasing stressful, and I am hating it. I'm also trying to do my best for my internship, which means every evening and every day off I am working on that. It's becoming too much to juggle, and I am finding my work performance is starting to slide. I'm also having trouble sleeping (especially when working into the night), and husband is getting upset that I am spending every evening on the computer playing catch up. Internship employer would love for me to do more and devote more time, but I'm pushed to the limits.
I also do freelance work on the side, and have so far been successful. I have brought in around $3,000 this year, or an average of $300 a month. I feel like I could easily increase that number, but have not been advertising at all because I am already too bogged down, and have put it on the back burner for several months.
Ideally I would like to quit my current job now! But I would like to give them at least 6 weeks notice to find a replacement. So even if I quit today that would already put me into middle of November.
My problem is, I'm scared to jump from full time employment into the unknown. Friends and family are urging me to do it, because they know how stressed I am, and agree this is the opportunity of a lifetime. I keep thinking of the "what ifs. What if the new business can't take off and I can't bring in any income? What if I can't get anymore freelance work?
After doing and redoing the math. It looks like I need to bring in a minimum of $400 a month to pay bills, pay for gas, and have a tiny bit of barrier. But it doesn't leave much room for error, and/or any savings.
If I get the restaurant job. (Confident) At the low end I would work 12 hours and get paid $8.25 an hour. Napkin math says after taxes that is $80 a week or $320 a month. Which is already putting me close to my minimum. I have no idea how many hours they would be willing to give me, so I don't want to count on anymore.
Certainly I could come up with $80 a month right... I would go out and mow lawns if I had to...
But what if the fridge breaks? How will I pay for that?
For full disclosure my husband has a steady job, that leaves him an extra $300 a month on average. That covers unexpected expenses, shopping trips, dining out, etc.
I honestly don't know how much longer I can do all this anymore. I have been working full time, going to school, and trying to establish myself as a freelancer for over 6 years now. I'm to the point where I think it is damaging my health. But I'm also scared to leave my job at all. Even in December, because the risk of the unknown.
Help! Do I wait until January, or do I put my notice in now, and get out in November. My peace of mind, is on the line.
Am I crazy to quit full time steady work for freelance?
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