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Ditch Your Day Job

Lesson 7 of 24

How to Save Money

Michelle Ward

Ditch Your Day Job

Michelle Ward

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Lesson Info

7. How to Save Money

Lesson Info

How to Save Money

We're gonna workshop two things right now. We're gonna talk about how to save more money, how to commit to putting more money away and how we could get more money in the door. So let's deal with the saving money first. As I mentioned before, this is not about deprivation, right? I know you love your lot A's in the morning. I know you love going out for brunch with the girls. And as they compete to be life coach, I want you to win, enjoy your life and be happy. And I don't want to deprive you of those things. But I also know that you have to say no to some things in order to say yes to ditching your a day job. Right? Eso this doesn't need to be extreme. This doesn't need to be. I will never order another latte from Starbucks until I'm, you know, making the money, replacing my day job income with my creative business. Uh, but it could be I'm only gonna have my latticed on Monday mornings and Friday mornings. Um, at Starbucks and the other days, I'm gonna deal with the coffee that's in th...

e office. Uh, if you go meet your friends for brunch every week. Maybe instead of going out to a restaurant, maybe you are taking turns hosting brunch at your homes, right? I have that with a group of girlfriends in Brooklyn where we're a bunch of, and I'll talk about this more in the support segment. But we're a bunch of business owners, are aspiring business owners, and we get together once a month. And we met at a restaurant at first and we spent so much money and we got kicked out after two hours. Way wanted more time together that we said, Why don't we each take turns hosting where you only have to worry about food for when you're hosting, and now we host we post like, twice a year, and it's great. We're able to save money so it doesn't need to be extreme, but let's do some brainstorming and Heather, I'm gonna put you back on the spot as to how you can maybe save more money and how much money you think it'll save you. No, things were still really lean right now, but is there anything that you think of that you might be able to cut back on, we're cut out. Nothing's coming to my own things. So okay, because again you have sexual alot margin. That's the right term, right? Eso it's hard and that that's really great, cause you're already your not, I don't know, like wasting your money anywhere. But I love to hear from the shot open and see this. There we go. Look, to hear from the chat some ideas. I'd love to start filling this chart with some ideas we could get a big capital of, like, how to save money and how much money will save lives. What do you got? Um, eating out. Eating? Yes. Cook at home more often. That is a lot. So eating out. So again, not never eating out ever again. And I'm guilty of eating out to, um, and delivery so easy in New York City s so, you know, cooking more so eating, eating out, less cooking more. What do you think? If you've just minimize that a bit, how much do you think that would save you? Just off the top of your head per month? Between that and cutting cutting back on lot, I'd say I would save probably $150. That's great. 150 a month. Anything else that comes to your mind eating out is a good one, not a moment. Okay, what's going on in the chat? So definitely eating out is a huge one, and Kate has a good tip, she says. I find meal planning helps down on Sunday and think up my meals and grocery this for the week. It's much cheaper than running last minute to the grocery store or to get take out. Yeah, have you? Yes. If you don't have things in your house, it's easier to say I want burritos, boop, boop, boop, phone bring and then their burritos that show up during cooking mawr in order to then have leftovers like using a crock pot, you know, are some, uh, so the next one that comes up is Jesse L. The outrageous phone, cable and Internet charges. So delete cable. Simon's thinking says, um, e every there's so many things that you can watch online or delete cable on Just goto Netflix play, huh? Or even you could minimise, kill like sometimes your package includes all these channels that you don't walk shin. If you call your provider and asked like, What's the next lowest plan that I could get? You'll find out you're not even missing anything. So, like less slash no cable, I would think my save another 100 bucks a month, bucks a month, depending on where you live. Totally could. That's like absolutely 80 plus months. Then the next one we have in order to save money, compare insurance plans. So I know like myself, I haven't gone and compared my car insurance, home insurance, renters, insurance, business insurance. You could save $100 a month, probably for maybe not a month, But you could save a lot of money if you just spend that hour and do that work. Absolutely. I mean this probably I'm putting 50 plus dollars a month, but it's probably more more than that. And I think with healthcare also. Besides, you know, the Obama care and and that website where you could look a thing side by side. I didn't even know that this existed until a few years ago. But there are insurance brokers out there that work like mortgage brokers and so you don't pay them. They help you. You don't pay them eso You're gonna be able to say that I'm here. My needs. Here's what I need in an insurance plan and health care, and they're gonna come back to you and say, this is what I have for you. So I love that you do that for health care. You could do that for a car. You could do that for home. And I think Teoh, I'm rolling my eyes at myself because my nickname at home is like Michelle. Can I speak to the manager award? Uh, s So I think if you're not scared to call your your current insurance companies or your current banks, maybe that are charging you a fee that you don't need to have. And you tell them like I'm gonna go to these guys that are charging me lasts. It's really I think it's a horrible way to do business. But a lot of the times you're gonna get deals because they want to hold on to you as a customer. So it might be worth an hour or two to just, like, go through, go through your credit cards with high a PR's go through, go call the student loan people, even though they're ridiculous, and ask them what, if anything, can be done. So that's that's a really great That's a really great. So I have several people talking about libraries See a library, whether it's for buying books, but also for their so many audiobooks right now that you can check out of libraries on. And so that is, that could be a really big and movies to People don't realize this either. You know, movies and TV shows on. I know a lot of library systems. You could reserve things online, and then they're gonna notify you when they're ready to be picked up. So you don't even need to spend time going to the library and try and figure out what you want. You just like go on the website say I want this book and they'll reserve it for you and let you know that's that's a great transportation. It's starting to take public transportation when possibles therefore cutting down on gas and insurance or even getting a scooter. Somebody says, you know, depending on on where you live. In New York City, it's about like less taxis, less taxis like just take the subway less Taxin. But yes, I love this transportation. I mean, that could be an easy 100 bucks a month. Also, because you're saving and lots of different ways, anything else coming through. I love these ideas. I'm looking at looking at refinancing home. Somebody said, I'm so glad that disastrous. I let that Stassi seen stressed. I love Santa Glover, Clark says. Go shopping in your own closet and with remind jazzed up old clothes. And I love the new look. Uh, and with that, I want Teoh add like girlfriend clothing swap. Yes, guys could do it, too, but you might not be interested. But having your friends over and you all bring the clothes that are in good condition that you don't want any more. Um, I wrote shop and own clothes that doesn't make any sense. Uh, shop and own closet slash girlfriend swap because then you're getting things that are new to you without having to spend any money that's so fun. So I feel like battle that'll save $100 a month refining refinancing. Your mortgage, I would think would save could save $100 or more a month. Um, what else just went through my head. Uh, I love this. Save more money. So we have eating out less cooking. More, less lot. 150 months. Lesser. No cable. Another one. But I had a gory Bring your bring your lunch. So for somebody said, especially if you have kids bringing your lunch to work and not eating that lunch out, it could be like 10 $15 a day. Yeah, right. Exactly. So that that could be, like 200 bucks a month. Hello? Yes, it's, ah, selling, selling things that we have a home, that air taking up space. And I'm gonna put that in the next category. But that's a great one. When we talk about how we could make money, I think selling things exactly it. But this is how we can kind of save. And I would say to Jim, less less gym or no gym. Um, because there's ways to exercise without having to spend that money. I know in New York City, Jim's air, like $80 a month on average, sometimes more, Um, but there it doesn't have to be extreme, either. I know that the yoga places near my apartment there lunchtime Yoga classes are cheaper than any other time, so you could kind of look at that, too, and say it's not about never going to another yoga class again. It's about saying, Oh, you know what? I could make that Friday. Lung showed a class, and it will cost me $ instead of $20. And that's gonna be That's gonna be nice to, um, great eating out less cooking, more, less, lot less or no cable. Compare insurance, libraries, transportation, refinancing your mortgage, shopping in your own closet or doing a clothing swap. Your girlfriend's bringing your lunch, less gym or no gym. Yeah, what you got, Heather. My kids were little and required a baby sitter. We would sometimes trade baby sitting with another couple so we could go out without having to pay a baby sitter. And I love this site. And then they could, too, or even just with another mom. If you just need a day for errands or doctor's appointment, just trade. That's huge. That's huge so that that could be like an easy 50 $50 plus a month. Well, I know baby sitters in New York City are actually like 15 $20 an hour. Crazy. So I love that idea. Baby Sitting trade, baby sitting trade 11. It's okay. I mean, I was trying to do some quick calculations if you were to do all of that like, $800 a month that you could be seeing a thank you, but it's an estimate, because based on what we have, right, and obviously not everything is gonna apply to you. But, um, you know, and I and I specifically in the workbook didn't include examples cause I just feel like the possibilities are infinite and it just depends on your own situation. And I hope that everyone has their eyes open now. And as you go about your day and you see, when you're taking your wallet out, you just make a note like eyes there, a way that I could spend last on whatever it is I'm buying right now, right? So it's a really big thing

Class Description

You don’t have to commit your life to a soul-sucking day job. In fact, you can drum up the job of your dreams if you have the right mindset and an action plan to back it up. In Ditch Your Day Job, career coach Michelle Ward will show you what it takes to go from bored-at-work to satisfied and self-employed.

There was a time when Michelle was wasting her days working in finance. She was miserable at work and needed a change. Over the course of two years she cooked up her escape plan and has been perfecting her approach by helping others for the last five years. In this class, she’ll show you how to prepare to leave your day job for a career you love. 

You’ll learn how to:

  • Create a simple plan for getting your business started
  • Establish an emergency fund
  • Identify your existing sources of help and support

Michelle will take the mystery out of starting your own small business and help you zero in on the details that will make it happen. You’ll develop a savings plan that will give you a good buffer before making the leap and get tips on exactly what it takes to make your new endeavor profitable.

If you are done with counting down the minutes at your day job and want to launch your own creative business, Michelle is ready to give you all the inspiration and insights you need to set yourself up with a life and job you love.

As a bonus when you purchase this class, you'll get:

  •  1 Year Membership Free to Bidsketch
  • 2 Free Hours on Breather, to apply towards booking one of their beautifully designed workspaces.


a Creativelive Student

Fantastic course! I highly recommend it. Michelle is a wonderful teacher: energetic, passionate, funny, and encouraging. Kenna is also a great facilitator; the most natural and genuine host I've seen so far on Creative Live! Great job both of you. And a well-deserved shout-out to the in-class participants, who were engaged and candid about their own situations. Best of luck to both of you with ditching your day jobs. This class has given me the structure and several practical tools to facilitate my own transition to creative entrepreneurship and out of a soul-sucking job. Michelle shared many supportive messages that made me look more confidently at my "uniquity" and its value in the creative marketplace; as a result, I am now eager to take the action towards building my art business. I will use my S.N.A.P. to comfortably and confidently get to where I want to be, so that I don't snap at my day job in the process ;-)

Becky Pennington Arce

This course is truly AMAZING! I've been in hyper - forward motion since the first day! Thank you Michelle! This course was honestly different then any other! It gave actionable items, where to find support, and tons of yummy resources (which if very time consuming and somewhat impossible when you have a DAY JOB!) My Day Job is actually "ditching" me but by having a plan (which Michelle gives step by step details how to do), I'm totally comfortable and even EXCITED to be DITCHED! Several items that she shared I've already been able to implement into my creative business plan AND my personal life! Double whammy! I ended up buying the course to make sure I didn't miss anything! Super excited to continue and wish everyone luck on their own creative journey! ~Enjoy!

Heather Young

I was one of the fortunate studio members of this class. Wow! So much great information, step by step instructions, enthusiastic encouragement and fun! Michelle takes you through the baby steps needed to form a solid foundation to get ready to ditch your day job and do it with a plan, a safety net and a support network. A common sense guide to doing something uncommon and (to some) seemingly nonsensical. The videos will teach, inspire and encourage, the workbook will make it real for your own situation and the resources that are provided will be invaluable as you prepare to ditch your day job. You will be so glad you purchased this class!