SDH 040: Savvy Solutions to Leaving Your Job with Jocelyn Paonita Pearson

Jocelyn Pearson graduated from college and started working a corporate job full time. She began her mornings working on her book The Scholarship System and then headed off to her nine to five job. After planning in advance, crunching numbers, and receiving a little help from her passive income streams, Jocelyn was able to leave the corporate world and enter her own world. Now, Jocelyn is focusing on helping people face the financial burdens of school with her book and enjoying the newly found freedom of working on her own time. Jocelyn’s Fresh Financing Topics -Jocelyn’s experience with a full-ride in college and how she began saving her money -Advice on how to schedule a routine -The passive income streams that helped her leave her corporate job -Tips on how to save money on your wedding -Why having an “accountability partner” is important to save money -Strategies on how to be your own boss -Resources she uses to spend less Securing Success Jocelyn’s Way “If someone told me my junior year of college that I would be leaving my job in a few years to do my own thing, I would’ve thought they were crazy.” “If the job is a bridge job, and it’s actually connecting you from A to B, and it’s helping get you to where you want to go, then there is nothing wrong in staying with it.” “I sat down and crunched numbers. You know me, I’m all about the numbers. I tried to figure out if I really had a year to 18 months of [a] nest where I could survive if I didn’t have any income.” “Between my rental income and my book, I am pretty much covering my own rent, my car expenses and groceries. So, my main living expenses have officially been covered and I have only been three months out of a job. ” “Sure, I am making a lot less money than when I was in a corporate job, but I am making enough. It’s that ‘new rich’ mentality where I don’t want to be a mega millionaire, but I do want time freedom, and ability to travel. That is the financial goal I am trying to get to, and these things help me get there.” “I would allow myself one or two major shopping sprees a year, where I had a set dollar amount. So I did treat myself, and I did get a new wardrobe, but because I did it in one big day, and I had this set amount. I think in the end I saved way more.” “Do a quick budget. All you have to do is write down rent or mortgage, the major expenses, and keep it to ten. That first step of looking at what you think you are spending, can be a great first step.” “You should be saving a good 10-20 percent of your income. I know that’s a lot, but if you can set that at the top [of your budget plan] as one of your categories, and put savings. Count that as one of your expenses because that is going to help you quit your job, if you are in a job you don’t want to stay in, or do the traveling you want to do.” “It’s hard when you are not bringing in income to sit down and spend a whole day planning because you want to just focus on items that are bringing in revenue all the time, but having that overall picture is so important.” “You don’t have to cut back on living.”   [Connect with Jocelyn  Facebook, www.thescholarshipsystem.com Email:[email protected]]   RESOURCES: AirBnB Dave Ramsey Every Dollar app Mint.com (money manager) The 4-Hour Workweek by Timothy Ferriss Launch by Jeff Walker Think and Grow Rich by Napoleon Hill