How to Survive Without a Salary in the "Rat Race"

Surviving without a salary can turn into a successful, independent career.

Leaving the security of a salaried job in the rat race can be overwhelming, especially when the pay checks stop flowing in. However, there are ways to survive and even thrive in the business world without being on a company's payroll. Some people even find this professional change to be liberating and refreshing. Making a few adjustments to your lifestyle and having some ideas on how to make a non-salary income are the keys to surviving in life outside of the rat race world.

Instructions

1. Apply for unemployment benefits for temporary, government-supported income. Not all unemployed people are eligible for benefits, so check which criteria must be met by applicants and file an application accordingly.

2. Take stock of your spending and adjust your budget to work with the money that you now have to live on. Stick to the budget. This could even mean living without credit cards for a while, depending on your financial situation.

3. Offer skills and services for a freelance or contract rate. In contrast to a regular salary, freelance income is based on the type of job completed or the time it took to complete the job. This can include even casual work, such as mowing lawns or performing minor household repairs for neighbors.

4. Swap and barter to get the things you need for little or no cost. Barter for items that will save you money or services that will help you expand your own small business or freelance practice.

5. Clear out the clutter in your home and turn the usable things that you find into money, either by using them to barter or selling them online or in a garage sale.

6. Continue to save money when possible. You should have at least a long term retirement fund and a short term emergency fund.

References

• "How to Survive Without a Salary"; Charles Long; 1996