After 8 years, 2 months, and 28 days of working, working, working, I am taking some time off. I haven’t quit my job, but my company has been generous enough to allow me to take a leave of absence until the end of the year. I am doing this primarily to take care of family matters (which I hinted at in a previous post). However, this will be good for me as well.
One of the perks of simple living is that it allows you to do things like this without much agony. Living below your means equates to more money in the bank and the freedom to take a break when life throws you a curve ball.
Even so, we have been (and will be) making some adjustments to our budget to avoid dipping into savings as much as possible:
- We are holding my retirement savings and savings for college (not a good long-term way to manage a budget, obviously, but it’s a good way to cut some cost while on leave)
- We downgraded our cable to the basic package (we don’t watch enough TV to justify it anyway)
- I removed the data plan from my cell phone
- With Frugal Food Month, we are already eating out less and at less expensive places, so now we just have to continue to keep that up
- We’ll continue our approach of only buying things we really need (it will be interesting to see if our definition of “really need” changes with less money available)
I have no qualms about giving these things up. In fact, I’m kind of excited to be “forced” to be even more frugal, because I know there are expenses we could live without. And having the freedom to take the time off and do what I need to do is absolutely amazing.
In fact, I’ve heard from several people: “Wow, you are so lucky to be able to do that!” and “I’m so jealous.” The thing is, many Americans could have the same opportunity if they moved away from the consumer lifestyle to the “simply enough” lifestyle. And the benefits go beyond freedom… It’s good for the environment and allows you to “share the wealth” with those less fortunate.
During my time off, I plan to experience a few things that I haven’t gotten around to while working:
- Be home when my daughter comes home from school and simply be available
- Practice yoga
- Run as long as I want to
- Write an eBook (or at least get started!)
- Prepare wholesome, seasonal dinners on a regular basis
- Spend more time with friends
I am an over-scheduler by nature, so I’m trying my very best not to plan too many things for the next couple of months. (More on that in an upcoming post…). However, I do plan to write blog posts more often, because it makes me happy.
A couple of question for my dear readers:
- What costs would you cut, if you had to (and how would cutting them make you feel)?
- If you could take two months off from work, what would you do with your time?
See you soon!
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Good for you….When I got retired the best part was and is the freedom you feel from the clock. Hope you have the same. LK
Looking forward to that!
In terms of cutting stuff prob some of the same things- limiting going out more, cutting down our housecleaners to maybe once a month or altogether, figuring out how to lower our grocery store costs.
When I did take a “sabbatical” before I just tried to be and center myself – it was hard not worrying to much about money though.. Good luck and look forward to reading about your adventures. I hope all is ok with the family.
we could downgrade our cable (altho I have to admit shamefully that I love TV!), and I keep thinking about a pay as you go cell phone, as I don’t use mine much. We don’t eat out – good restaurants are quite a drive- but we do get takeaway pizza maybe 2 times a month. Could do without that.
My biggest expense is my horses, which I board. They are very important to me, and I cut expenses in other parts of my life to afford them.
But we have always tended towards frugal, so we could afford the things that realy meant something to us. I have a friend who along with her husband, used to make substantial money. Husband took a buyout from his job, and now makes considerably less. Frugality has never been part of their lives, however I think most of their big expenses have been covered (they are mid 50s). But I do think how much further they would be along the road to economic freedom if they had employed even basic frugality. And I do just THINK this, without ever mentioning it, even tho said friend at times expresses annoyance at my frugal measures.
@Emi: Ah yes, that reminds me… We did also cut our housecleaning service. I figure I’ll have time to clean now and I really don’t mind it if I don’t feel like it’s taking up the only free time I have. I do plan to spend a lot of time with me and try to find that “being in the moment” place. I started today by mindful eating (i.e. not doing anything else while eating).
@Trish: It is hard not to point out how much more improved other people’s lives could be if they didn’t spend quite as much. I think your approach of being a living example of an alternative approach to life is the way to go. Eventually, they may realize you’re on to something!
This is something I plan to do in the near future – figure out where we are “wasting” money. Dan found mint.com that will analyze where you spend your money but I haven’t been able to use it yet to comment on how well it works. We save about 40% of our income right now so we don’t really “need” to cut costs on anything but we are getting ready to move (locally) and need as much money as we can save for the downpayment. And while I’m not to the point where I want to consider cutting down on these things, if I “had” to (which I may find I want to when I evaluate everything) I would cut out my housekeeping service, massages/nails/hair (or at least modify the service – maybe cover the gray myself), lawn service, newspaper, netflix, Schwan’s…I’m sure there are a few I am forgetting. We did cut down on eating out this year. That was where the bulk of our money went to. And then of course for us, traveling. And boating (but of course Dan would cut out food and oxygen before boating). ;)
And as far as time off, I’ll find out soon enough when the baby is born! Of course it won’t quite be the same because I’ll have a baby around. :) But baby aside, I would definitely work out daily, spend more time with Javi, get involved with his school more, get involved with our church more, go to a morning bible study during the week, organize every aspect of my life…I’m sure there are more but that’s what comes to mind at the moment!
Girl, I didn’t know you were pregnant!!! Congratulations! So exciting. :) Enjoy your “time off.”
I fantasize about ditching our TV, but there are other parties who have overruled my suggestion to even get rid of HBO :(
…taking time off was the best decision of my life, although, it took me *several* months after quitting to stop pushing myself so hard to “accomplish” things.
Kudos for you for taking the leap. Change in any form can be scary, even though I’m sure this will be a highly beneficial sabbatical for you & the fam!
You’re one of my inspirations for taking the leap!! Thanks!!!