Meet Susan, 33, from Cincinnati, OH

Since you are aware that you are capable of “blowing major chunks of my hard-earned change on what later seems frivolous,” you can save money by no longer doing this. You’ll not only have extra money, but you won’t have that regret of owning something you know isn’t worth it.

Although I would caution that by entering the world of freelance and buying a new home back-to-back sounds like you’re giving into that “bit of an impetuous, impatient streak.” Just go slow. Perhaps it would be wise to adjust to your new job, see how much money you are consistently bringing in before making any major financial purchases. Wait a year at least.

Talk to any freelancer and they’ll tell you that what you think will happen is not what happens. You can make excellent money doing it, but there’s a time adjustment period that’s very important to keep in mind. If you haven’t heard of Demand Studios, I suggest you check them out. As a matter of fact, one of the freelance writers there has a goal of earning $50,000 this year. He has a FB page about it. I do a different kind of freelance work for them, so I also know what a great company they are. They pay better than anyone else and we receive payment twice a week through PayPal, which is wonderful.

I wish you the best of luck and I’m not trying to be judgmental or hard on you. Just some things that stuck out while I was reading. Take care.

I come from a younger generation who has just been given the royal smackdown in economics. Lehman Brothers will be as bad as any curse word said to me, right there with Bank of America and Citibank!

I digress, to my point, I’ve learned that without a budget (or in my “new-age” words, a plan), it’s like having a small hole in a otherwise sturdy boat. Issue: There’s a hole, which leads to the inevitable, it will eventually sink.

Most people, including me, hate the word budget, because it requires restriction, which requires everything but the word “fun”, “freedom”, and other great “f” words. It’s a problem, but it does have a fix. I would view each paycheck as a obligation that you owe to yourself to pay YOURSELF first. Which means knocking out bills, groceries, retirement, savings, and debt first and foremost. Sounds like a bummer, doesn’t? But it has one advantage:

Anything left over is truly yours to play around with. Once you knock out the essentials, what is left is up to you to do with. You could knock out more debt, or burn it at Applebee’s. It doesn’t matter, the progress of going forward has already been enacted upon, whatever is left is there for you to do as you see fit! Its just a matter of putting your foot down, lifting it up, and moving towards a tangible goal, one step at a time.

With that said, I agree with Victoria. I would caution against moving too quickly. You never want to be in a position where if you fall into bad times (which, lol, happens often with everybody!), you can’t make your mortgage payments. Better to be in a slightly smaller, however affordable, home than to be homeless altogether (a reality a number of Americans are learning real hard, real quickly). Freelance has great potential to be extremely profitable….or it can lead you down to living in a cardboard box. I would get a feel, a real feel for it, before thinking about moving into a bigger house. Really know your market before making an incredible, however awesome, investment.

Good luck! I look forward to reading your adventures lol!!!

Hi Susan,

It’s so good to meet a fellow blogger. I envy the freedom that freelancing can bring you. I hope it goes well for you.

@Headless Mom – Thanks for your support! It’s nice to see some bloggy friends on here.

@Victoria Drake and @Nancy – I hear what you’re saying about the uncertainty of freelance work. However, I am in a good situation with multiple clients and steady, regular gigs that pay promptly. In some ways, I actually feel more secure that many folks in a traditional job.

@Jason – Totally agree that I need a budget and I’m working on one now. Look for my next post to see how far I’ve come.

@Alicia and Jenny – Thanks for the kind words and support!

By the way, I know everyone thinks I’m crazy for buying a bigger house right now, but that’s been the same reaction to nearly all of the best things I’ve done in my life. I’ve done my homework and I believe it’s the right thing for my family. So there you go. If it’s a colossal failure, at least it’ll make for good blog material!

@Jesy – Thanks! I’m glad you’ll be along with me for the ride.

Susan,

From a fellow mom of two young children–good luck on your journey! I am excited to see how things progress for you.

Have you ever heard of the book “My Money Map”? This is a plan to work towards financial freedom. My husband an I, with rather meager incomes, have begun working on this plan, and already we can see that it just might work for us. Check it out if you’re interested in suggested steps towards becoming debt-free and building up your savings.

All the best, Susan! Oh, how to know what to do with the “I deserve it!” voice!

I agree with you on the leap of faith concerning freelancing and buying a new house. Some of the best things I’ve ever done in my life haven’t been the safest, like having kids and moving to the West. Here’s to adventure!

To each their own, but I know I always get nervous when people tell me what God or Jesus thinks I should do with my money, and that’s the foundation of Your Money Map. I’m a Christian, so it’s not like I have a prejudice there.

I too will be following you Susan. I have recently incorporated as I am an independent contractor and am seeking any information I can to get me through the legalities of how this all comes together. I want to make sure I am doing everyting on the up and up.

Best of luck to you !