Numerous successful entrepreneurs out there suggest us to find or create a job that we’re hugely passionate about, before we eventually achieve financial freedom. However, the million-dollar question (no-pun intended) is that our passion doesn’t quite pay our bills. We need to come to terms with the fact that this might well be the biggest risk if we quit our day job and are unable to pursue our passion
for work afterwards. Or, should we be realistic and find a job that we may well hate pays well? Here, Dr. Partridge shares her insightful financial tips on similar scenarios given from our readers:-
1. “I really want to go out there and explore, and do what I feel passionate about, but I don’t want to abandon my current job either; it’s too much of a risk-taking…”
Unless you have a financial cushion of savings, I don’t suggest abandoning your current job without a clear plan terms of what you need to do next. The fact remains that the financial stress
will not create the space to allow you to explore your passions with ease. So, how can you create that space to explore your passions for work and life
and determine your next career move? Do you have any vacation days that you can use purposefully to explore career options? However, there’s a caveat. Don’t go party with friends on a beach vacation – that’s just a distraction if your #1 priority is determining what career or job you will find most fulfilling
. Instead, plan a staycation, attend a retreat, or go away on a trip by yourself. If you don’t have the ability to take the time off work, start using whatever free time you have - with purpose.
It’s also important to accurately pinpoint where you fall on the risk-taking continuum. Some people are natural risk-takers and actually need a certain level of risk and uncertainty in order to feel motivated to make big life decisions
, such as the best-fit career path. You know—some people will be able to make a quicker decision (actually without a lot of stress) with some fire under their belt! On the other hand, some are viscerally risk adverse and stabilize risks. They need to take very calculated risks after carrying out in-depth research. Determine what kind of risk-taker you are and plan accordingly.
2. “I know that I hate my current job but I just need the money to survive…”