The concept of a freedom number is crucial for anyone considering a career pivot or entrepreneurship. This figure represents the minimum income necessary to cover essential expenses such as housing, food, and insurance. By carefully analyzing monthly budgets, individuals may discover they require less than initially thought, easing the transition to a new career. If income projections fall short, strategies like saving beforehand or taking on side jobs can help bridge the financial gap. Ultimately, the freedom number is a tool to facilitate informed decisions about career changes.
Calculating your freedom number forces you to think about what you're willing to give up—even temporarily. This process reveals the true minimum income necessary for survival.
The freedom number is the bare minimum needed to cover essentials like rent, groceries, insurance, and utilities, differing from current lifestyle spending.
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