The Link Between Passion and Savings For A Happier Life

Riley Blue
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Here are two questions you can ask yourself before quitting your job to pursue your passion full-time.

1. Do I have an emergency fund?

Life as a freelancer isn’t a cakewalk. Most self-employed people live from paycheck-to-paycheck, at least in the beginning. To quit your cushy job, make sure you have enough savings to see you through tough times.

Here’s how I diversified my savings portfolio:

  • Calculated my average monthly expense and kept 12x that amount in a separate bank account. This serves as my emergency fund as I can liquidate that whenever I need it. Even if push comes to shove, I know this can sustain me for at least one year.
  • Invest everything else in mutual funds, stocks, provident funds, gold bonds, and cryptocurrency. More on that here.

Save enough to sustain you for at least six months before you quit your job. That way, even if all your income streams dry up, you won’t have to resort to taking loans until you can build something new for yourself.

2. Do I have something to make my heart happy?

For most people, pursuing their passion means turning their hobby into a full-time job. But if you put pressure on your creativity to make money for you, it ceases to be an enjoyable process.

When you once used to create for the love of it, you now start thinking of it in terms of money and deliverables, making it hard for you to keep pushing ahead. Your work suffers, your passion dwindles, and you no longer have any ways of destressing.

“The reason I always maintained other streams of income was because I never wanted to burden my creativity with the task of providing for me in the material world.” — Liz Gilbert, Big Magic

Even though writing is my primary way of paying the bills now, it is still something I do to sate my heart. Here are some ways I plan to ensure that I continue having fun from it while also not worrying about the money:

  • I keep separate time slots in the day for “writing for myself” and “writing for money.”
  • I’m working on my novel — a work of fiction — which I know might not make me rich, but it gives me immense satisfaction.
  • On Medium, I never follow the trends that guarantee “virality.” Instead, I treat it like my online resume and only write what makes me feel fulfilled.
  • I have other hobbies that keep me happy — like going on solo walks in nature, reading, and kirigami.

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