Your point about having a backup plan is spot-on. When I bought my first home, I thought I'd planned for everything financially, but unexpected expenses still popped up and caught me off guard. Freelancing seems similar—there's always something you didn't quite anticipate. Still, I think it's awesome you're considering the leap and being so intentional about it. Even if things get bumpy, your thoughtful approach will probably help you navigate through it better than most people would... Good luck!
Having a solid backup plan is definitely crucial, but I'd also suggest building in a financial cushion specifically for those unexpected hiccups. When I transitioned to freelancing, I set aside an emergency fund covering about six months of expenses—honestly, it saved me more than once. You're right though, even meticulous planning won't catch everything. Still, your careful approach puts you ahead of most people who jump in blindly. Keep tracking your budget closely and adjust as you go... flexibility is key. Good luck with the decision.
Six months is a decent cushion, but honestly, I'd aim for closer to a year if you're jumping into something truly uncertain. I've seen too many people underestimate how long it takes to get traction in a new venture—especially freelancing or self-employment. Your careful budgeting is smart, but remember, unexpected expenses don't care about your plans. Keep your eyes open and stay realistic... optimism's great, but skepticism can save you from costly mistakes down the road.
Totally agree on the timeline—six months can vanish quicker than you'd think, especially once those surprise expenses pop up. One thing I'd add is to map out your monthly costs clearly: mortgage or rent, utilities, insurance, groceries, even subscriptions. Then factor in a buffer for emergencies (think car repairs or medical bills). When I switched careers, having that detailed breakdown helped me feel more prepared and less anxious about the unknowns... it might seem tedious now, but trust me, it's worth it in the long run.
Mapping out expenses definitely helps, but honestly, life has a funny way of throwing curveballs no matter how prepared you are. When I jumped into property development, I thought I'd covered every possible cost—then bam, zoning issues and surprise inspections popped up. Ever tried budgeting for bureaucracy? Not fun. Still, having a rough plan kept me sane-ish through the chaos. Curious though, did anyone else find that even with detailed planning, the unexpected stuff was still the biggest hurdle?
