I never want to come off like I’m bragging about my life and work situation these days, because I’m so thankful about where I’ve come from and every job I’ve had in the past. Even though I didn’t always enjoy them, I learned a lot about life and about myself along the way. These lessons made me so much more appreciative of what I do now.
I love working from home and I love what I do and I really don’t want to ever give it up and go back to the 8-5 lifestyle. But I have thought quite a bit about what might happen if things don’t work out with my business. If I fail and find myself running short of fulfilling my financial obligations, what would I do?
Of course if I had to, I could always get another job. But first I’d try to trim my budget.
Seeing as how I’m not very frugal, it might seem like I should have already given up these things in the name of becoming debt free, but I haven’t. I’ve cut back on my spending A LOT from where it used to be pre-blog. But I know I could cut back on it more if I meant the difference between continuing to work from home or going out to get a job. Here are 5 things I’d cut from my monthly budget so I could keep working from home.
Eating Out and Entertainment
This would be the first thing I’d cut out of my budget in order to keep working from home. It’s hard for me to say this one because I seriously love eating out (and that’s what most of my “entertainment” budget goes toward). Going out to eat with my friends has been one of the weak points of my budget from day 1.
Luckily it’s gotten a lot easier now that my friend S moved away and I spend most of my time at home in my pajamas. The motivation to go out to eat is a lot less since I’d probably have to put on real pants so I don’t look homeless. Just keepin’ real! #truth
Netflix or Hulu
Even though I cut my TV subscription a few months ago, I could still save more money in the TV category. Currently I pay $7.99/month for Hulu and $16.64 for Netflix. The Netflix gets me 1 DVD at a time and online streaming. The reason I decided to keep getting DVDs from Netflix is because some of the shows I want to watch are not available on instant streaming. That said, I’m thinking about cutting that anyway because most of the time I’m too lazy to get up and take DVDs in and out of the machine anyway, so 99.99% of my TV viewing is via instant streaming of Netflix or Hulu.
If it got to where I needed to cut my expenses, I could cut this down to one service or the other and I could cut the DVD portion of my Netflix subscription for sure. In fact, I might do that anyway.
Less Hair Cuts
Having short hair is amazing. It only takes me about 5 minutes to do my hair everyday, which means more time for sleeping! I seriously love it, except that I have to get it cut every 6 weeks in order to keep it looking decent.
If I had to lower my expenses, I might be able to stretch my hair cuts to 8 weeks or I could grow my hair out again. 🙁
I have already cut my hair maintenance budget a lot as I used to get my hair colored or touch-up colored every 6 weeks as well. Not my salon cost is about $35/6 weeks instead of $100+/6 weeks. I do still hate my natural hair color though, so there’s that.
My Cleaning Lady
This one is pretty far down the list. I love having my cleaning lady come every 2 weeks. She leaves my house sparkling and smelling amazing. It’s not too expensive in relation to what I get out of it: a clean house and saving a whole day’s worth of wasted time. When she cleans, she’s able to get my house cleaner than I can and in far less time. This expense is totally worth it to me and I’d hate to cut it from my budget.
Shopping or My Smartphone
When I got ready to talk about the last thing I’d cut from my budget I had a hard time deciding between shopping or my smartphone.
I love both of these things a lot. I know it would be hard for me to cut anything on this list, but these two would be EXTREMELY hard for me to cut.
Ultimately it would make more sense for me to cut shopping instead my having a smartphone. I could down grade to a dumb phone, but I use my smartphone quite a bit for business purposes and I’m able to write off some of the expense.
Shopping doesn’t benefit my business or my tax situation, so it should be the thing I cut.
Of course, I hope it never comes down to making these decisions so I can keep working from home. That’s why solopreneurs can never quit hustling! Even though I feel like my business is exploding right now and I have more than enough work, I’ve still always got my eyes open for new opportunities.
One thing I’d never want to cut though is Freshbooks. Freshbooks has been the best thing for my business because it makes it easy for me track my invoices and expenses.
If you work from home, what would you cut in order to keep working from home? If you don’t work from home, will you be cutting something to lower expenses so you can work from home or work your business full-time?