You know what it is you would love to do but the fear around money holds you back.
The mortgage, the kids, the pension, the insurance: – it all weighs heavily on your shoulders and you believe that there is no way that you could ever follow your passion.
Not so very long ago, I worked in the highly stressful world of Investment Banking in London (you can read more about the story in my article Why I Quit My $100,000+ Job For My Dream Life). Now I am a full time blogger, freelance writer and life coach.
At the time, I was terrified of not being financially secure and it paralysed any dreams I had of working in a job I loved. It even made me believe that I didn’t even know what my passion was.
So I know all too well how it feels to have the financial weight of the world on your shoulders and be crippled by it.
That’s why I have written these practical tips that can get you to start seeing a new perspective:- that having your dream career is NOT out of your reach, and that money does not have to stand in your way.
It is however important to be sensible and I see no reason why that cannot go hand in hand with pursuing your passion.
1. Do It On The Side
Whatever it is that you would love to do, start doing it in your free time. Writing, cooking, coaching, teaching – no matter what it is, you can begin doing what you love right now. Write for magazines/blogs for free, put up an advert in your local newspaper to offer coaching gratis, offer a teaching class within your community.
Let go, experiment and have fun.
Benefit 1. You keep the money rolling in from your existing job and don’t put any unnecessary pressure on yourself to make money from your passion asap. That way you can really enjoy it!
Benefit 2. The more you pro-actively follow your passion, the more you build up your knowledge, experience and your people network in the industry. Slowly but surely, you will find that you are in fact building a business, that you could charge for your work and/or a contact may offer you an amazing job.
2. Go Part Time
As you start developing a business doing what you love, you may find that you have in fact created another income stream for yourself. It may not be much at the beginning, but that $10 per week will grow to $250 before you know it.
You can then choose whether to go part time with your existing job and use the additional income you have built up to make up the shortfall.
Benefit 1. Getting to a stage where you can devote an extra day (or 2 or 3…) will only make your business flourish. The rate of increase in your income will step up another gear and you will eventually find yourself in a place where you can work on your passion full time.
3. Save A Pot Of Money
Another strategy is to actually save enough money to cover your expenses whilst you pursue your passion for a set period of time. For example, you may take a 6 month sabbatical and dedicate all of your full time to your new business.
Benefit 1. Being able to throw yourself 100% into your new business means that progress is made far quicker and you don’t have to split yourself between it and a job you don’t enjoy.
Warning. Don’t underestimate how long it can take to build a satisfactory income stream from a new trade and how much pressure this approach can put on you. Remember that it is all about enjoying the process of following your passion, not about creating more stress in your life.
4. Reduce Overheads
Sit down and analyze all of your overheads with a fine tooth comb. Really question how much you need all of the things that put so much financial pressure on you. Could you live in a smaller home, could you cope without such a smart car, could you skip dinners/drinks out for a while? Perhaps you could find a more competitive deal on your insurance if you research?
So often we keep ourselves trapped by our own financial commitments and don’t take a step back to really think about it. How much more joy would you gain by doing what you actually love?
Benefit 1. Taking the burden of a huge chunk of financial overheads off your shoulders affords you the space, time and peace of mind to go after what you really want. Less money unnecessarily down the drain, less stress and more joyful passion.
Benefit 2. Opening your eyes and freeing yourself from all the material ‘stuff’ that keeps you trapped is liberating. Seriously liberating.
5. Volunteer/Do Internships
If you can find time, get some practical experience working within your loved industry.
Benefit 1. You discover how much you actually enjoy the reality of working in your desired field, without having to make any immediate life-changing decisions.
Benefit 2. Not only do you gain invaluable experience and knowledge, but you also rub shoulders with people who already do the work you would love to get paid to do. Never underestimate the power of relationships in business and how many exciting, fruitful things can lead from knowing the right person.
At The End Of The Day
You are the only one standing in the way of you pursuing your passion. Anything is possible.
You don’t even have to have it all figured out. It always works out just as it was meant to.
You just have to face your fears, take action and make it happen.