Last week I shared with you my primary financial goal was to leave my traditional day job. To continue on the same topic, this past week has been amazing. I am happy to say I am well on my way to the first step of that journey. It began with listening to a podcast on mindset while on my way to work.
Am I Underearning?
Earlier this year, I was taking an online course called Blogging with a Full-Time Job (affiliate link) by Natalie Bacon, which led me to invest in another one of her courses focused specifically on mindset, Personal Development for Her (affiliate link).
As a result, I started actively working on my mindset and found immediate improvement in taking action towards some personal goals. From there, I began researching more and came across the concept of underearning by Brooke Castillo.
I never felt I was an underearner. I make a good salary in my traditional job and believe I am paid fairly for the type of work I do and the industry I work in. However, this podcast required me to seriously wonder if I could earn more by working less.
The answer I came to was “yes”.
How My Mindset Created An Opportunity
I began listing out all the possible options available to me within my current position and current company. More so, I was actively opening my mind to opportunities and believing they are all around and available to me. While working on this list, my former boss reached out to me. She wanted to meet for lunch to discuss what I was looking for in my career.
During this discussion, I never mentioned working less or leaving my traditional job. As we left lunch, I didn’t feel there were any great options that would be a good fit for me. Her company wasn’t looking to hire a full-time employee at my pay grade. I didn’t like the idea of being a contractor because I need health insurance to support my family.
And I’ve always been a traditional employee, so per my default thought patterns, I thought that’s what I needed to be.
However, on my drive home from that lunch, I thought about the concept of underearning and the mindset work I was doing. It was then I realized this was exactly what I was looking for and it aligned perfectly with my financial goals.
The Result of an Open Mindset
I had that proverbial light bulb moment.
Literally, like a light switch.
I could cut back my hours while increasing my income.
After revisiting my budget, researching my health insurance options, and learning about self-employment tax, I determined a number I needed to make it work.
I threw that number out there and voila – I now have a new gig as a financial consultant working 30 hours per week making 45% more than I am now.
Of course, some of that will be absorbed by self-employment tax and I will lose my 401k match. On the bright side, my health insurance is cheaper and I will have an opportunity to do some additional consulting work during my transition from my current employer.
I am now one giant leap closer to my primary goal. All because I kept my mind open to the possibilities, and I didn’t limit my beliefs.
Mindset – it’s a powerful tool.
What is your money mindset? Share it with us in the comments below.
Learn more:
Advantages of Budgets (and Limits too)
3 Affordable Alternatives to Health Insurance
Kate Fox is a former CPA, with twenty years of experience in public accounting and corporate finance. Born and raised in Alaska, Kate is currently based out of southeastern North Carolina. She loves coaching others on personal finance and spends her free time traveling with her family or relaxing by the pool with a good book, probably about money.