Remember how the other week I was asking if anyone had any blogs that were up for sale by any chance? Well the reason for that came out of a convo I had with one of my friends who started thinking of side jobs as ways to pay off specific bills. He told me he was working on a new project that he hopes would pay off his mortgage each month, and then he’d go down the list and find gigs to knock off the other expenses he has too!
It’s pretty much the same thing as getting 1 major job and using the money from THAT to pay off all your bills and expenses and what not (which is what we’re all used to doing, right?), but this *new* way of thinking really resonates a lot more with me lately. The idea that you could knock off each of your expenses by tying it to a certain gig or revenue stream is extremely fascinating! In theory you’d only need a set number of jobs to break even until you wanted to bring on something new, or perhaps start saving for something specific (at which point you’d have to add in a new hustle to account for it).
You could have a whole line-by-line list that kinda looks like this:
Etc. etc. Your 9-5 of course would cover all of this in a perfect world (and your “main job” doesn’t even have to BE a 9-5, it could just be the one you spend the most time on out of the handful of jobs you have) but breaking it down as to WHY, exactly, we need to be making $XX really gets your brain thinking more in depth. Why do we want a job making $40,000 or $60,000? Do those numbers themselves really get you fired up? Or would the idea that your house and car(s), and vacations and savings and play money and everything else that it GETS YOU be more exciting than the actual salary number itself? For me it’s def. the latter.
I’ll give you another example: When I was blogging 40 hours a week and working 40 hours a week at a 9-5 at the same time, my income was pretty much doubled. But do you know what that meant to me whenever I said it out loud or talked it over w/ the wife? Pretty much nothing. I mean – I UNDERSTOOD that $130,000 was a lot more than, say, $70,000, but if you don’t spell out what that REALLY means as far as what it gets you, it doesn’t really soak in as much. Do you know what DID, though? When I started realizing that all this extra money meant I could one day BLOG FULL-TIME for myself! It was something that I could almost touch, and really feel like it was actually *worth something* to me. And it could have been anything else too – A new home, a new Benz, a trip around the world, whatever. It’s the “attaching” part that really hits home for a lot of us.
I remember as a kid wanting a newer car than the one my parents handed down to me, and whenever I brought it up to them or complained about how boring the car was or whatever (looking back I wish I was more grateful!), they’d always say “you want a new car? go get a job,” haha… it’s something I’m sure all of us has experienced growing up at some point, but the message was loud and clear: If you want X, you had to go out and earn $X to make it possible. It’s so simple and clear, yet I don’ t think we’re used to thinking along those lines anymore as we’ve gotten to become much much older (some of us more than others ;)).
Breaking down our “wants” or “needs” so simply like this REALLY adds a whole new perspective to things. You should try it out if you haven’t done it before! And that’s why I’m starting to separate out my own streams of money, and attaching certain jobs to specific bills and goals of mine so I can easily determine what’s WORTH doing so, and what’s not! Breaking it down really helps cut out the crap and junk that easily adds up in our lives too, I feel like. Imagine saying “You know what? I don’t want that expensive car payment anymore. I’m gonna sell it and start using my boring one again and cut out those 10 hours a week I spend upkeeping it all.” SEXY huh?! Or better yet, you could even substitute it out and apply those 10 hours of work towards something even better you’re excited about! In this way, it’s always a conscious decision you’re making.
I think my friend is definitely on to something here. And I think we need to go back to the basics sometimes and remind ourselves as to WHY it is we’re actually working, and if the money we’re spending on things really IS worth it and aligned with our current goals at the moment. If I ever buy up someone’s site any time soon, I’m totally gonna use that money to start knocking off those upgrades on our home improvement wish list I giddily divulged the other week. I can’t justify taking out the money from any of my other “funds” going on right now, but you better believe I could apply any *extra* hustles I got going on towards it! And the beauty of it all is I can stop at any time and still be just fine ;) That’s the power of gigs for goals, baby! It all lies on YOUR efforts!
What would you take on an extra job for if you could right now? Would the extra hours put in *really* be worth the goal at the end?
Jay loves talking about money, collecting coins, blasting hip-hop, and hanging out with his three beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!