Dreams Archives - The Happy Homeowner

Why I Will Never Regret a Dime Spent on Vacations

Posted on May 6, 2013 by Jen

Photo I took while diving in the Great Barrier Reef

For as long as I can remember, I’ve had an insatiable desire to see the world. For me, seeing the world means traveling as much as possible and truly immersing myself in the local cultures and customs of the places I visit. This desire to travel the globe has turned into a reality where I’m usually either taking a trip, planning a trip, or just returning from a trip.

While this is certainly not a bad way to live, it can be an expensive one if you’re not careful with your travel expenditures. This is why I’m always on the lookout for the next big travel deal, why I get creative when it comes to paying for vacations, and why I’m constantly working to bring in more money in order to cover the costs of my various adventures.

After traipsing the globe and being fortunate enough to have set foot on five of the seven continents so far (Africa and Antarctica are in the works–especially after missing out on the Kilimanjaro trip last year due to a stupid stress fracture), I can say one thing: I don’t regret a single dime I’ve spent on my various vacations.

When I Buy a Vacation, I’m Paying for an Experience

Despite being a PF blogger and fully understanding how saving now is one of the only ways to guarantee a better financial future tomorrow, I still continue to spend around $10K or more each year on traveling. This is because I’m not out spending frivolously on clothes, bags, and shoes–I’m paying for an experience; one that I’ll remember for the rest of my life.

If you ask me about the clothes I bought back when I was in my former spendaholic days, I couldn’t remember a single detail about any of them.

But if you ask me about the trips I took to Chile, Japan, Italy, Hawaii, and Australia during the same time period, I can pretty much regale each adventure in detail–from randomly going scuba diving in the Great Barrier Reef instead of the snorkel trip I’d signed up for (I’d never even held a regulator in my mouth before, let alone actually went diving) to watching a car fly off the switchback of a mountain pass in Chile after getting a bit too overzealous about finally being able to drive down (the lanes are so narrow that they’ll stop traffic at the top where the ski resorts are and only open it after a certain time–let’s just say that it’s pure chaos when they finally set the cars free!).

In each case, I spent money to get to those places, and I spent more once there. Even if I broke the budget a bit, I’ve never once returned home to think, “Wow, I shouldn’t have spent so much” because I’m usually thinking, “Damn, that was a hell of an adventure!” I’ve of course gotten better with my budgeting system so now my trips don’t get in the way of other goals such as long-term and retirement savings, but I still don’t regret spending any of that money.

Money is a Tool for You to Live the Life You Dream of

My dreams have always included traveling, working for myself, and having a happy, loving family. I’m well on my way with the first two, and I know that my understanding that money is a tool has a lot to do with why I’ve been able to achieve these dreams. I no longer look at money as a means for instant gratification, a green light to spend myself into oblivion, or something that can be used/abused without consequence

If I had continued to abuse money, there’s no way I’d be able to travel so much. If I had continued to be intimidated and clueless about money, I would never have been able to quit my full-time job to become my own boss. Once I truly understood that I’m in control of my financial destiny, I began to use money as a tool that allows me to shape my life into the one I’ve always dreamed of living.

Considering that you can’t take a penny with you once you’ve passed away and that when you’re in your last hours the last thing you’re going to want to talk about with your family is your budget, I can’t imagine ever regretting the choice to fill my life with experiences and stories from my travels–even if it did cost me money to do so. I hope one day to instill this same love of adventure and realization about money in my future children so they, too, can live their own lives in the manner they dream of.

What are your thoughts on spending money on vacations? Yay or nay and why?

Financial Freedom Doesn’t Just Happen; It’s Earned

Posted on April 1, 2013 by Jen

Have you ever wanted something so bad that you can taste it? That’s how I’ve felt for the past few months when it comes to the idea of financial freedom. While it’s not exactly consuming all of my thoughts, it’s definitely taking up real estate in the conscious and subconscious regions of my brain. I have an insatiable desire to be free from the shackles I wear due to my debt and lack of passive income.

Granted, most would think I’m pretty darn close to being financially free because the only debt I have is “good” debt–a wee bit of student loan debt locked at 1.625% for life and my mortgage, which is locked at a low interest rate as well. I’m also doing well with my efforts as a freelancer, bringing in over $10,000 last month.

But I disagree because my personal definition of financial freedom is being 100% debt free and, in turn, being able to do whatever I want with ALL of my money. I look forward to the day when I can live my life as I see fit and have the financial means to do so. Hey, a girl can dream, right?

Or more fittingly, a girl can work.

My Philosophy for Achieving Financial Freedom

I’ve read a plethora of articles and blog posts about the idea of financial freedom. Of the hundreds I’ve come across, I can’t remember a single one that highlighted how to achieve financial freedom other than giving the standard tips of pay off your debt, invest your money, reduce your spending, blah, blah, blah. While these things are important, what’s missing is the idea that you have to work for it–that even if you follow all of those wonderful 5 or 10 steps, you still have to keep hustling to make your financial dreams come true.

If you don’t do the work, nobody else will. And making haphazard attempts to get closer to your goal won’t cut it either. You need to be dedicating consistent effort and time to your quest for financial freedom, and you have to realize that it won’t happen overnight. There’s not going to be some magical day where you wake up and decide, “I now have financial freedom!”

Sounds like a no-brainer, right?

Today’s Choices Impact Tomorrow’s Opportunities

Unfortunately, so many people spend their time paralyzed with money fears or spinning their wheels doing things that derail them from their progress that they lose sight of the end goal. Sometimes they’re so focused on the day-to-day and immediate gratification of the now that they can’t understand how today’s choices impact tomorrow’s opportunities.

These behaviors do nothing more than cause people to lead a life of paying others first, relying on others to pay them so they can live their lives and worrying about how they’ll overcome the obstacles and challenges life so regularly presents us with. None of this will help you achieve financial freedom–it actually confirms you’ll never have the freedom you so desperately crave.

But…there is hope if you’re willing to work for it.

How I’m Working to Achieve Financial Freedom

Each time I write a goals post or recap the previous month’s success (or struggles), I do so in order to analyze what’s working and what’s not working. I track my numbers in an effort to maximize my efficiency and to make room for bigger opportunities that can help me reach my goal of financial freedom even faster.

When I find something that’s working for me, I give it more effort, attention and time. I might celebrate a large milestone with a short-lived “pat myself on the back” moment, but then I’m right back at it instead of resting on my laurels.

If something isn’t working? I consider other ways to make it successful before abandoning or replacing it, but I won’t waste my time with trying to put square pegs into round holes. My time, work ethic and motivation are my greatest assets and I’m not about to squander them on fruitless efforts that detract from my ability to meet my goals.

In other words, I work for it. I’m constantly striving to better my financial situation, and I’m always learning from my mistakes just as much as I’m capitalizing on the opportunities that come my way. Thankfully, somewhere along the way in this crazy financial journey of mine, I realized that financial freedom doesn’t just happen; it’s earned.

How are you working to achieve financial freedom?

Photo credit: meddygarnet

I Quit the 9-5…Forever

Posted on February 12, 2013 by Jen

That’s right!

As of Thursday evening, I will no longer be working the typical 9-5 job that I’ve had for so many years. In fact, I’ll only be “working” four hours/day in a traditional role. What will I be doing for the remainder of my time?

Working for myself.

My Choice to Can the 9-5

It’s no secret that I’ve been (consciously and subconsciously) planning this leap of faith for quite some time. Last year as I was transitioning jobs, I wrote about my back-up plan and why it’s important to always have options for yourself. I’ve also written about how to start a business while keeping your day job, I’ve challenged my readers to critically evaluate if they’re using their time wisely, and I’ve discussed why it’s paramount to not sacrifice passion in lieu of paying the bills.

What do all of these posts have in commons? They’re all paving the way for strong foundation that would allow someone (me in this case) to venture off on their own professionally.

Evaluating the Past

As I was reading through my archives in an attempt to write this post, something jumped out at me: I’ve switched jobs two times in the last two years. Despite my initial love for each position, eventually the “honeymoon phase” was over and I returned to the idea of starting my own business.

Looking back, I’ve realized it wasn’t the change or the new, exciting nature of each job change that kept me happy in the beginning–it was me lying to myself. I was avoiding the nearly insatiable desire I had to chart my own course; to make a go of employing myself by forcing myself to “love” what I was doing. The truth was that I’ve never been happy in a traditional 9-5 marketing or office role….

Don’t Let Fear Rule Your Decisions

Essentially, I was letting fear rule my life. I was fearful of what striking out on my own meant. I was fearful of the potential for epic failure. And I was fearful of not living my life in the conventional manner I’ve been groomed to be accustomed to (go to college, go to grad school, get a good job, climb the corporate ladder, blah, blah, blah).

Thanks to some surprising events at my current job that I felt uneasy about (lots of restructuring, people shuffling and strategy changes), I came to the conclusion that it was high time I faced my fears head-on. This is my life, those are my bank balances and I’m ready now more than ever to be successful in my own way.

Staying Realistic–and Positive

Of course striking out on my own isn’t a rash decision, despite the lack of disclosure I’ve had about it here on The Happy Homeowner. For the past few months, I’ve been testing the waters with my new business–and I’ve been pleasantly surprised with the results.

As of this month, I’m making more money with my new endeavors than I am at my full-time job. And it’s certainly not all about money; I love every second of what I’m doing–from the mundane to the seemingly impossible tasks I’m faced with.

I have been burning the candles at both ends with transitioning out of my job and simultaneously building the business. The funny thing is that when I get home from the office and start the other work on my to-do list, I find myself more motivated than ever. It hardly feels like work even when I’m up past 2AM!

My New Gig(s)

So what exactly is my new business? In a nutshell, it’s a freelance writing, consulting and blogging support operation. While this description runs the gamut of online offerings, it’s important for me to diversify my income-generating options so that in case one thing dries up, there are others that can replace that income stream.

Also, because the nature of online work is highly variable, I’m not quitting the part-time job that I’ve had for the past 6.5 years. Having this job for so long has allowed immense flexibility and I basically work remotely on my own time. There’s a certain economy of scale built in after having a position for so long and I’ve become incredibly efficient with the time needed to perform the tasks of the job.

Additionally, I’ve picked up another part-time job, which is why I’ll still need to be in an office for 4 hours/day (I wanted to make sure I still had a stable, reliable income to cover all of my bills including my mortgage as well as retirement funding and health insurance).

Let’s just say that my new boss has been incredibly flexible with my scheduling needs and has allowed me to create a schedule that I could have only dreamed of in the past–my work day now “ends” by noon unless I want to change up the schedule to fit in other needs. The rest of my day will be spent on all things online, from the comfort of my home. Somebody pinch me!

The Future of The Happy Homeowner

No matter these new endeavors, I will always have The Happy Homeowner as my home base. I look forward to growing this blog bigger than ever now that I have dedicated, consistent time to do so, and I am so excited to have readers like you (both new and old) to be here with me every step of the way.

Viva la Work-Life balance!

Photo credit: renaissancechambra

Why it’s Important to Always Have a Back-up Plan

Posted on June 6, 2012 by Jen

I’ve always been a fan of having a plan. Whether it’s an annual plan of what I’d like to accomplish over the next 365 days or a plan to get me through the day, I’ve found that planning is a vital component to any organized, hard-working person’s success.

But what about when the best-laid plans go awry?

My solution is to always have a back-up plan.

What is a back-up plan?

Just like a back-up dancer lends support to the main performer, a back-up plan gives you support when you need it most. It is your ticket to a less harried existence when your first plan is forced out the window.

It’s also a way to keep your stress at bay and regain your footing when the universe seems hell-bent on knocking you down. And when it comes to finances, it can often be your best friend when the plan you’ve been working towards suddenly gets washed away.

Why do you need a back-up plan?

Anyone who’s lived past the age of 12-13 knows that life doesn’t always move along according to our plan. When setting out on its various paths, nobody originally plans to lose their job, get into an accident, come down with a serious illness, get divorced, etc.

But these things happen and when they do, you need to be prepared!

How to make a back-up plan

It really couldn’t be easier. Write down your main plan, then below each piece of that plan, list some details about what you would do if you could no longer follow the original plan.

For example, if your plan was to go back to school this year but you found out your pregnant, what would you do to still keep working towards your original plan despite a longer timeline?

My back-up plan

It’s no secret that I’m currently between full-time jobs. While I could sit back and just wait to see what happens with all of these interviews (for one company I’ve already had 9 interviews for one position and have just found out I’ve been invited back for the 10th–and final–meeting tomorrow; a daunting process, indeed!), it’s not in my nature to remain stagnant.

Therefore, I’m putting together a back-up plan for what I’ll do in the event that none of these jobs pan out (when I say this it means that either they don’t think I’m a fit or I don’t think they’re a fit–I don’t want to settle this time around!).

For me, the plan is to finally bid adieu to the 9-5 grind and set off on my own course. If I can’t solidify a new full-time job by July, I’ll officially be concentrating all of my efforts on opening my own business.

While I’ve mentioned this before, it’s been a bit of part-time endeavor for me. This is because my full-time schedule has necessitated a smaller focus on getting the business off the ground. But without the 9-5 responsibilities, I will be able to direct my efforts to making it a success.

That being said, I know it will be an immense challenge, but I also know that this is something I’m passionate about. If these new jobs don’t pan out for whatever reason, I may take this as the universe’s sign that I’m not supposed to be in an office anymore.

At the very least, I have a hell of a back-up plan that will keep me motivated for years despite the potential lean times ahead of me!

Do you have a back-up plan? If so, what is it?

Photo credit:NicoleAbalde

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