So Long, Pay Day

How would you feel about taking a 90% pay cut? Let’s pretend that you and your spouse are in your thirties with a couple kids. Most people I know would be terrified. 

Well, Mr. Sense and I opted to do just that a couple months ago. (Actually, I took a 100% pay cut by quitting my job, and my husband got a part time job as a line cook.) And even though we had saved up for years and crunched the numbers over and over again before I gave my notice, a part of me wasn’t sure how I’d feel once the dust cleared. 

Here were a few things I worried might happen: I would regret giving up a relatively high paying job in our area– what if I never made close to that much money ever again? I might miss being the breadwinner for our household and feeling like I was contributing to my marriage and family. I might not accomplish the goals I set for myself and allow myself to be “just” a stay at home mom. And what if I wasn’t even that kind or patient of a mom once I was home all the time? I might miss getting out of the house and doing something I know I’m good at. Everyone would think I got fired (or got pregnant, or won the lottery), because who quits her job a few months after getting promoted? And of course, it would be so embarrassing if our plans didn’t pan out or the economy crashed and we ran out of money, forcing me to beg for my old job back. 

It’s too early to judge the long term financial implications of our decision for me to take a “mini retirement,” but having agonized at length before making the jump, I’m happy to report a successful launch into unemployment. I’m less worried than I thought I would be about not receiving a paycheck. In fact, I somehow feel richer than I did when the cash was pouring in.  

Here are a few reasons why:

-The other day, I took a short hike with Mr. Sense after we dropped our little one at preschool. Perfect weather, easy pace, peaceful woods… at 10am on a weekday. 

-I eat lunch with PreSense every single day. We usually pretend to feed lunch to her doll, too. 

-I took almost all of my “work clothes” out of my closet and hung up my running shirts, which were previously crammed in a drawer. There’s lots of space in my closet and zero outfits in there that require ironing. (Though to be honest, I didn’t do much ironing before either; rumpled is in, right?)

-When I struggled with a sinus infection, I took lots of naps and baths instead of forcing myself through my to do list. There wasn’t anything on the list that couldn’t wait a day or two. 

There are a lot of things I feel I can’t afford now that most people would say would have been reasonable for me to spend money on a few months ago: a new car (so Mr. Sense and I wouldn’t have to share our economy sedan), a house cleaning service, a newer iPhone and computer. I guess I could technically “afford” those things, in that I could pay cash for them today if I chose. But I don’t even want them. What’s a new iPhone next to a morning walk with my husband or getting to pick up my daughter from school (usually by bike)?

I’m a huge fan of Jillian Johnsrud, a popular figure in the financial independence movement and author of the new book, Retire Often. She’s a proponent of taking lots of mini retirements for all sorts of reasons– to recover from burnout, to learn new things, to travel, and to do anything else you can think of. She was a big inspiration for me as I considered taking this jump. One thing she talks about that really resonated was the idea of “seasons with expiration dates.” There are times in our lives that you only get one chance at, like when your kids are young, or your parents need you during a health crisis, or you have the opportunity to travel for a year because you inherited some money and don’t have a mortgage or a family yet.  

I’m grateful that I managed to talk myself into quitting my job while this season is still unfolding. Mr. Sense seems thrilled to have the chance to think about his own potential career and decide if he would ever want to have a “real job” or run a business. I’m seeing a different side of him– constantly learning new things from library books and friends and actually excited about going to work. On my side, I don’t know what will happen with my running, but I’m showing up to races and seeing real improvement. I haven’t yet found what the limits are for a woman in her thirties who gets plenty of sleep and is able to go for a run or to the gym pretty much whenever she wants. And then there’s the time I get to spend with PreSense– afternoons at the park, the library, and the grandparents’ house. This time is sweet but definitely slips away fast; she won’t be three years old for long. 

And all those things I was anxious about before I quit my job just don’t seem so important anymore. I’m too busy having fun to worry about what other people might be thinking– though I doubt anyone else is spending much time thinking about my career choices, anyway. I haven’t felt stressed about money because we prepared for this and we keep a close enough eye on our expenses and accounts to know well beforehand if we needed to start bringing in more cash. 

If you’re not in a financial position to be able to step away from your job to spend your time differently, don’t worry– I’ll soon be back to writing about how to cut expenses and save more, so you can join me soon if you want! I can’t advocate for quitting your job without solid savings, especially if you’re a parent. But what I’m learning is that financial independence is so much more fun than I thought it was. It’s not about not dealing with your boss or your emails. It’s about everything else that can fill the time that your job used to take up.