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Going Freelance? How to Save Up Enough Money to Leave Your Day Job For Good! The biggest fear about leaving your day job to freelance full-time is having enough money to quit your job, continue to live comfortably, and build up your self-employment income. If you don't have money leftover after your paycheck, you're probably finding it difficult to build up the savings you need to quit your job. That's understandable. I don't recommend you leave your job unless you have another source of income lined up and some savings to make the transition easier.How Much Should You Save?Before you start saving anything, you need a goal. Ideally, you should have a cushion of about three to six months of living expenses saved up before you leave your day job. You will use this cushion to supplement your freelance income. The cushion should not be used as your entire income.Before I left my day job, I saved up $10,000. My plan was to pull a maximum of $1,000 from this savings each month to help pay the bills. I only needed to dip into this savings for two months before I was fully supporting myself with freelance income.How to Build the SavingsSaving up a large sum of money isn't easy for...more
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