First thing’s first. I’m like 12/10 lucky. I’m privileged in every way imaginable and I will never deny that. None of this is possible without the advantages I started life with.
During this pandemic, there has been an unprecedented amount of uncertainty.
If you’ve been following for a while, you’ll know I’ve been planning to quit my job and focus on my business for a loooong time. Long before COVID came into play.
And despite this, when my boss repeatedly offered me a contract extension to help me out during the circumstances (an incredibly kind act), I seriously struggled with my decision…
A) Do I play it safe and take the guaranteed income (and do something I’m not crazy about with people that I do really like)…
OR
B) Stick with the plan, give up my guaranteed income, and go all-in (and do something I absolutely love)
Ultimately, the decision wasn’t a decision at all… I had to leave…
Now normally… pandemic + career change = enough challenge…
Not this time!
We decided to move too! Now you might be thinking, Greg, you’re crazy! You’ve got enough going on… well… here’s how it came together:
This summer was beautiful and we didn’t have a balcony (and our windows barely opened), so Ariana and I would only be able to get fresh air like twice a day. The balcony itch was real.
Rental prices plummeted in the city due to COVID.
Our landlord wanted to raise our rent again despite said price plummeting.
A new condo building opened up down the street from us that we absolutely loved.
It was the perfect storm for moving and not wanting to miss the opportunity, I decided to add this additional mental and financial burden on myself in addition to quitting my job.
And yet, I knew everything was going to be okay. Here’s why:
1. I’ve been saving like a madman
Since I launched my side hustle in 2018, I barely spent a dime of that money. It had been accumulating for this exact purpose. For 2.5 years I told myself I was buying time. Time in which I could supplement my income while committing all my time to my business. When I got a raise for my new job in February, I took all the additional income (above my previous paycheck) and put that aside too. I saved over $40,000 (not including my pension or TFSA investment portfolio) so I’m covered for a few years while I build up my business income.
2. My expenses have plummeted
Things I don’t pay for anymore due to COVID: metropass ($150/month), improv class ($180/month), haircuts ($30/month) **Ariana has gotten really good at cutting my hair FYI**, going out with friends ($100~/month), vacation savings fund contributions ($200/month). That’s over $650 deducted from my monthly expenses. Makes life much more affordable.
3. Ariana
First, as the common law partner of someone with a full-time unionized job, I’m covered for health insurance and such. Second, we split the cost of everything (except plants, I tapped out on funding her plant obsession). Also, just having someone around who believes in me has really helped with morale <3
4. Business income ain’t too shabby
I’m already hitting anywhere from 70% to 90% of my living/business expenses between my resume writing, interview coaching, and video courses. That’s going to stretch that $40k even further.
5. Hawaii money :(
Ariana and I spent over a year saving up for our dream vacation to Hawaii. It was scheduled for March 29… obviously, we could not go. We saved up over $7,000 for that trip, budgeted down to the penny. We were so excited…
We were obviously devastated to cancel. And we held onto that money for months but as time marches on, it’s becoming less hopeful that transpacific flights will be an option inside of the next couple years… so we’ve used that money for both the fun and annoying moving costs (elevator rentals, uhaul, new TV, dumbbells etc.). We’ve still got a fair amount in that account, so maybe we’ll have a trip to Hawaii… one day.
As with basically everything I do… these decisions were carefully measured and backed by Excel spreadsheets and long talks with Ariana.
I’m so excited and grateful to be working on my business full-time and live in this great new place. Pictures attached below :)
Thanks for reading
Check out some photos of our new digs!
