Six Steps to Living Without a Salary

This morning I re-evaluated my budget. It wasn’t planned to happen until January (I review my budget once a quarter), but with the income situation taking such a shift, and with the finances falling squarely on my shoulder, I want to know EXACTLY what I’m facing.

Many people would completely panic in my position. That’s the normal reaction. We’ve already established that I’m a bit on the peculiar side, so it should be no surprise that I’m feeling a mix of excitement and fear (kind of like I use to feel before a big race). I’m looking for ways to make more income and also to cut expenses.

1. What do I love to do? For years, I have been planning, planting, and tending my flower garden. It’s time to put that to work. By the spring, I will have an online (and on premises) business selling my excess and maybe using the garden for pictures or wedding.

2. What are we doing any way? We live in the woods and we have a fireplace. Every year, we cut and split wood. If we took a few days and did that with all the wood we have just lying around the property, we would be well stocked and could sell off the excess.

3. What are we not using? This land is only being used as a place to mow. 😀 We haven’t done anything constructive with it – just yet. With a little creativity, and a lot of muscle, we could put up a fence for almost no cost. Then we would be able to take in animals.

4. What can I do to expand what I’m already doing? I have a friend that develops websites. I could call him and see about writing content for the sites he’s developing. Who knows! Also, with my grants, I need to get out a letter to the non-profits in the area letting them know that I am available. And, I have to QUERY if I want to get published.

5. What can I cut? The best thing I know to cut is the television (I know, it hurts me to think about it). It will not only save me about $300 per year, but it will save me more hours than I care to admit. Besides, there is really nothing on worth watching anyway. I’ll stick with movie rentals.

6. What can we sell? There are not many antiques in our house, but we do have a few. And I have some jewelry that I don’t ever wear. There are also some tools and things that are just taking up space. If we sell what we don’t use or need (or maybe even want) we could build up a nice nest egg.

The number one key to making this work is to think outside the box. We may not be on a traditional income anymore, but we make money. By budgeting wisely, being flexible, and especially being creative, we will not only survive but we will prosper!