I needed to be smart about my move from a dependable paycheck to sporadic income as a freelance professional. It was time for new thinking and new financial understanding. To begin, Sharon and I spent time looking at my current finances and talking about how I make spending decisions. Since I tend to avoid thinking about money, these were new and sometimes difficult conversations. Acknowledging my spending patterns was painful. But gradually I was able to review my expenses as a business person. As I learned how to see the numbers as neutral, my mind was clearer. I was free from the emotional responses (shame, discouragement, disappointment) that were reflections of my history and mindset.
The next challenge was finding out how much money I needed to launch and maintain my business. Sharon and I prepared projections to estimate my financial position if I left my job in three months, six months or a year. I found that the best scenario was to follow the spending plan, meet my savings target and leave in one year. Committed and inspired, I was ready to begin my adventure.
Rebecca’s challenge was to keep on track. Throughout the year she was able to maintain her focus, gained insight into her money behaviors, and even felt more positive about her current employment. I’m happy to report that Rebecca made a successful transition from employee to entrepreneur. She now works internationally as a freelance media professional.