How to live off a part time job: 9 steps to afford working part-time. How to survive by working 25 hours per week or less instead of 40 plus.
Most people would prefer to work less days per week.
However, they either can’t afford to work less, or their ego can’t handle the status downgrade.
In short, they prioritize status over day-to-day life.
For those that realize life is short and that time is limited, though, it’s totally possible to afford living off a part time job.
I switched to a part-time job back in 2019 and I am absolutely thriving.
I haven’t been forced to dip into my savings once, my blog is growing, and I have the best day-to-day lifestyle ever.
My plan to free up more time by working a part-time job is a great success in my view.
It was either this or work a soul crushing full-time job until I saved up enough money to retire early. After nearly two years, I am more than certain I made the right choice.
In this post, I will show you how to live off a part-time job so you can live your best life ever too.
Let’s get started.
How To Live Off A Part Time Job
How To Live Off A Part Time Job
1. Keep Your Fixed Expenses Low
If you want to add more time to your life, you have to make tradeoffs.
To put it bluntly, you must keep your fixed expenses low.
This means you don’t want to sign up for a car loan or any expensive monthly payments. It might even mean avoiding a mortgage payment.
Because if you add a car loan to your expenses, you also add insurance, gas, and maintenance that will subtract from your income.
If you add a mortgage, you add maintenance, property taxes, insurance, lawyer fees, and more to your expenses.
Essentially, your goal is to live off the bare minimum. Think back to when you were in school and you could survive off almost nothing.
To afford living off a part-time job, the only expenses you should have are what you need to survive: shelter, food, and transportation.
2. Lower Current Expenses
Of course, there are some expenses you won’t be able to eliminate.
And there are some expenses you won’t want to eliminate. We all have our vices and things that add value to our lives.
With that said, you can still lower the cost of those expenses to have a more flexible budget.
You can look at ways to lower the cost of rent or downsize your home if you are overextended.
Alternatively, you can sell things that are a waste of money to stop wasting money on them.
You can build better habits and look for ways to start saving money on groceries.
The lower you can get your expenses, the easier it will be to live off a part-time job.
3. Get Rid Of Debt
Debt is truly awful.
It’s like a ball and chain that keeps you trapped at your job.
It takes your motivation away and it causes people to make stupid decisions with money.
Furthermore, student loan debt causes young graduates to have a nihilistic approach towards money.
Even if you are not interested in having more time, you should eliminate debt. It will make you happier, provide you with more job flexibility, and make managing finances a lot easier.
If you want to live off a part-time job, eliminating debt is a major key. By not having debts to pay off, you won’t have to earn as much money.
4. Build Up An Emergency Fund
Depending on your financial situation and the type of part-time job you plan on getting, it’s a good idea to have an emergency fund.
Because part-time hours are not guaranteed, there could be months where you need extra money.
As long as you have an emergency fund, you have nothing to worry about.
This could also be the case for people who work commission jobs. If your income fluctuates, it’s a good idea to have an emergency fund.
In my case, I don’t have an emergency fund because my part-time jobs covers my bills, I have multiple income streams, and I have an investment portfolio to fall back on.
Related article: How Much Emergency Fund Should You Have?
5. Build Up Income Streams/Side Hustle While You Work Full-Time
Rather than impulsively quitting your job to start a side hustle, you should create a side hustle that earns income before you quit.
Not only is this a safer way to pursue what you love, it also eliminates the pressure and gives you a better chance at succeeding.
Impulsive people quit jobs without thinking things through.
A lot of artists tend to go this route too.
They can no longer tolerate their soul-crushing day job, and they want to work on their craft so bad they quit.
But there is a smarter, safer way to work on your side hustle.
It just takes a few years of careful planning and sacrifice.
6. Work Out The Bare Minimum Amount You Need To Live Off
Before you take the plunge into the part-time lifestyle, you should work out the exact amount of money you need to survive.
This will help you decide on what type of part-time job you should get, because you will know how much you need to make.
Instead of just wishful thinking, it will turn your part-time job dreams into a realistic plan.
To work out the bare minimum, you will need to create a monthly budget to track how much you are spending.
7. Find A High Paying Part-Time Job
Believe it or not, there are high paying part-time jobs available that allow you to work half the time and get paid the same as a full time job.
You just have to know where to look.
In my opinion, obtaining a high paying part-time job is the best way to side hustle or start a business.
Because you get to add a lot of time to your life without sacrificing income.
It alleviates the pressure to earn from your side hustle, so you can focus on building your business the right way.
Rather than trying to make as much money as possible, you can focus on the best moves for long-term growth.
Alternatively, if you just want more free time in your life, a high paying part-time job might be the fastest way to obtain it.
For example, you might have to work full-time for five to ten years at a job you dislike to reach early retirement.
But it’s possible to switch to a high paying part-time job in less than one year. You could be working half the time within a few months.
Instead of living to work, you can work to support your life.
8. Consider Jobs With Downtime To Side Hustle
If you don’t have enough job experience, it could be challenging to find a job that pays you well enough to afford working three days per week.
If that is the case, you could look for jobs with a lot of downtime.
This way, you can earn enough to support yourself but still have time to work on your side hustle.
9. Aim For The Simple Life
Instead of trying to impress people with fancy suits, big houses, expensive cars, job titles, or with other material things, aim for a more simple life.
Start to get comfortable with less.
Focus on buying things that provide you value rather than trying to obtain status.
By switching to a more simple lifestyle, you will make your journey to part-time worker a whole lot easier.
Another surprising side effect of the simple life is that you will end up being a lot happier.
How To Live Off A Part Time Job – Final Thoughts
Now you know how to live off a part-time job.
If you were wondering if it was possible, the answer is yes. I can assure you that it is because I’ve been doing it for nearly two years.
Because I live a simple life, I feel like I haven’t sacrificed at all.
My day-to-day life is better than ever since I switched to a part-time job.
Moreover, I view working a part-time job as time acquisition.
Time is our most valuable resource.
It’s a fleeting resource that we can’t get more of.
If you value time over money and status, and you’re not financially independent yet, working a part-time job is an excellent way to get more time.
Related Articles On Flexible Work
9 High Paying Part-Time Jobs To Free Up More Time
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