Changing careers and ‘f*** you’ money

I’ve had a conversation today via DM with someone I haven’t checked in on for a while.

They’re still in the same position they were last time we spoke. Nothing wrong with that, of course, other than they wish the situation to be otherwise. They feel a bit stuck.

I mentioned that if they want to go in a different direction, that reducing their hours to work a four-day week might be a good move. It gives you flexibility to do new things. I’ve certainly gained from it.

Unfortunately, for the person concerned, that’s not a viable option, from a financial point of view. They wouldn’t be able to afford to take the concomitant drop in salary.

The conversation reminded me of some advice that I once received, and have since taken: you should always have ‘f*** you’ money set aside. This gives you the freedom to walk away and have between three and six months worth of ‘runway’ before you have to find something else to pay the bills.

Not easy, but certainly something I’d advise everyone to do as soon as they’re able. The easiest way of doing that, if you don’t have a well-paying job, is to dramatically reduce your expenditure. Again, not an easy step, but it’s the price of freedom.