Why I’m Aiming For Financial Independence

I’ll be honest, I have a lot of goals in my life that I’d still like to achieve. So my aim in the future is to work towards being financially independent, and free from relying on a work that takes my time for money.

Our Current Situation

  • At the moment, this is my situation. I work in a supermarket in a supervisor role. My pay is okay, but nothing special. My job is hard work, because it’s fast paced, there’s a lot to remember and do, and it can be physically demanding. And for 40 to 50 hours a week, it can be a lot to ask for.
  • I live with my partner, who earns roughly the same amount of money as me. He works in a managerial administration role, and sometimes he gets a small commission too. He too works between 40 to 50 hours per week.
  • We are currently renting a house together, we have one car, three house rabbits and of course bills. In total, about two thirds of our money goes to these bills. When food is factored in, we only have a couple of hundred pounds left.

You might find this situation relatable in a lot of ways. We work in basic lower wage jobs with a lot of hours, we are renting a place and don’t own a house. We don’t even have much if anything at all in savings.

Though we work a lot of hours, my partner does roughly a 9 to 6 shift, whereas my hours range from starting at 6am to finishing at 11pm, with a lot of overtime. We don’t feel like we have a lot of time free or together, and in general I’m not very happy with my job either.

Why do I want Financial Freedom?

Obviously there’s quite a lot of reasons I’m looking to be free from my day job.

  • The most obvious is time freedom. With a lot of hours tied to my job, I’d like more spare to focus on other priorities in my life.
  • Have Christmas holidays off, or New Year etc. free. My job means that I can’t book Christmas, weekends or even time off in short notice if someone else has it. This means during Christmas I have no idea if I’m even seeing my family, my partner’s family or anyone. It is tough since I can’t even ask for any specific time in this period, no matter how far in advance.
  • Travel more. In the future, once this year passes, then exploring more ways of life and new places would definitely be very exciting again.
  • Working for myself. I think this is self explanatory, when you’re not tied to a company or boss’s questionable ethics and morals, and being bound by them.
  • Starting a family. This aim is somewhere in the future, but with my current job, being given desirable hours and less physically straining activities seems very unlikely. Being able to support a child emotionally and financially would be hard when a job doesn’t do the same. Even the idea of changing jobs is not ideal right now, as pay and time would still be an issue.
  • Happiness. With time freedom and more choices with my life, I feel this would improve my outlook on life. Since I’d love to live simply and within our means, I’m not looking for an extravagant lifestyle, just a fulfilling one.

How Am I Aiming to Achieve It?

At the moment, there are a few things I’m starting already to build multiple income streams. That’s pretty much the first step to walking away from the day job life.

  • Saving more. This is the first thing I can do. We are planning to find a cheaper rented accommodation to lower our expenses, and review our bills. This can help us put more towards investing in other ventures.
  • Investing in the stock market long-term. This first one I started back in April 2020 as a complete beginner on an online platform, and I’ve been watching and reading a lot of resources for knowledge. It’s not about investing for quick returns, it’s about playing the long game, so I invest in a mixture of stocks and ETFs that both grow in value and pay dividends.
  • Print on Demand. Back in July, I opened up a Redbubble account and started to use designs and photos of mine to sell. It’s been slow, but I have started making a small amount of money. I have also opened a TeePublic account and started doing the same thing.
  • Thrift Flip Furniture. This is something I aim to start at the beginning of next year. My plan is to start finding small bits of furniture that needs minor repair or updating, and do it myself. Then I hope to resell it for a profit and put it towards investing, or even towards buying a house/apartment.
  • Sell some clothes. I still have a lot of clothes that I don’t wear anymore, and I still haven’t sold them. So I going to try to get that done!
  • This blog. I put this last because I know it won’t be my main source. I make pennies or pretty much nothing, but I enjoy doing it. I don’t advertise products or sell anything, and that’s not really in my aims right now. But every penny helps, right?

So this is my way of starting to share my financial journey with you all. It’s something I’ve been thinking about for a long time, and I’m hoping that if it’s possible, that it’s something that can be inspiring for you too. Obviously everything is going to take a lot of work, but the kind of hard work I’m willing to put in is something I’m more motivated for, as I feel like there’s a better end result than my day job.

I will do more posts about my methods of making money so you can see how I get on with them, and I think in general the theory is easy. It’s just the motivation to keep doing it consistently that’s harder.

Thanks for reading this, I’ll see you soon!

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