Budget Matters: Financial Freedom Leads to Professional Freedom, It's the 4-Hour Workweek Way!

Budget Matters: Financial Freedom Leads to Professional Freedom, It's the 4-Hour Workweek Way!

Oct 19, 2020

Organizing your budget is the 4-Hour Workweek way to financial freedom.

One of the first things I took away from the 4 Hour Workweek, which inspired me to continue in the direction of professional freedom, was basic: figure out how much money you actually need. Budget matters.

Disclaimer, and in the spirit of being an open book if it helps anyone move forward, when I was laid off, I had two separate 401Ks going and a solid savings account. I also had money in my checking account.

I say all this to say, I knew I had some security in mapping out my lifestyle to live the 4-Hour Workweek way.

a stack of books. Use books that fit your goals in order to plan your budget and grow your business.

Photo credit: Free stock photos from Groove

The budget came first in planning financial freedom to ensuring professional freedom.

I sat down with a notepad and added up how much my bills are each month. I took the money in my checking account and figured out how many months I could sustain with a fair “allowance” for food, travel, extras beyond my rent, car payments, all insurance, and other monthly bills. Then I figured out my worst-case scenario and set “light and flexible” deadlines. In short, I knew when I needed to start making money before I dipped into my savings.

Do this. Because let’s be honest, even if you’re employed, there are no guarantees. Having a handle on how much money you REALLY NEED (because we all learned during COVID, it may not be as much as you think), will help if you are suddenly without a paycheck, like I found myself after working for a huge corporation that decided to do a mass layoff.

Photo credit: Free stock photos from Groove

Back to my sorta bible on getting to the right mindset and knowing it can be done. The 4 Hour Workweek, which is currently free on Amazon as an audiobook, preaches to look at how much money you actually need, and it is different for everyone.

Some of us have kids, a mortgage on multiple properties etc. and others of us rent, or may have expenses we can quickly decrease.

Update in November 2020: I also added GrooveFunnels to my toolkit as a blogger and for my potential other income streams- right now it is free as you read this. I get affiliate marketing if anyone purchases an upgrade. A valuable note on budgeting your lifestyle: take advantage of opportunities to invest wisely.

RELATED: Since original publication of this post, I've worked hard on my Amazon and other affiliate promotion of resources related to ditching 9-5 life to gain professional freedom. And this post is an example!

Photo credit: Free stock photos from Groove

The fun came second and it continues on the path to financial freedom and professional freedom: the 4-Hour Workweek way!

The point is, once you know your true budget and know what you want to save up for (so you can set up a sinking fund like Jennifer discusses), you can imagine your worst case situation and move forward into the super-fun and extremely liberating part of achieving professional freedom: matching up your passions to your skills and living the life you want.

Every. Single. Day. #Cheers!

Book a call with me (free of charge!) if you want to discuss ideas to help you on the path to owning your time and quitting corporate life for good.

Click here to schedule a call and type BUDGET MATTERS in the booking notes!

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