I quit being self employed not long after I separated.
I already mentioned that I was on a good income as a contractor but my contract at the time was drawing to a natural close. I was faced with finding a new contract or take on a permanent role. I chose the latter.
People told me I was making the wrong decision to move into a permanent role but the benefits of being an employee such as holiday pay, statutory leave, sick leave and employment rights were worth far more to me, and still are.
I figured, sometimes you have to take a few steps back in order to be able to move forward. That was important to me so that I could look after my health and I could get my finances under control.
Whilst my income near enough halved it allowed me to take a breath for some time. Looking back, it was one of the most sensible decisions I've made in a long time, particularly when dealing with the emotional stresses of going through divorce and dealing with the family court process.
It's been a tough road to say the least.
Do not underestimate how stress can impact your health and your productivity at work!
The desire to earn extra money was not a priority for me at this time. My goal was to simplify life and keep it that way until I was ready. I needed income to be predictable and this included getting into a regular cycle with my personal cash flow. Being an employee I had predictable income every fortnight.
Having a fortnightly income and one that was a lot less than I was used to would force me into a budget. Budgeting is important, as is the discipline to keep to it.
