Life has been pretty hectic over the last few weeks, and a lot of changes have taken place. I wanted to go back to working 70 hours/week like I was doing prior to moving to Europe… but once I got back, I realized that lifestyle isn’t really going to work for me anymore. While I don’t regret that crazy work schedule (and it was actually a lot of fun!), there’s so much more that I want to do with my time.
One of my goals for 2013 was to cut down my workload down to (hopefully) 50-55 hours/week. I spend 40 hours/week at the full-time job, which leaves 10-15 hours/week for freelancing. I think this is a good balance for me, and I can always tweak it down the road if I find it’s not what I need.
In order to achieve this work-life balance, one of the first things I did was to step down from my position with the Toronto Star’s Moneyville.ca. It was a really, really tough decision because I’m one of the original bloggers that my editor hired. I’ve been writing for Moneyville for 2.5 years, and I’ve learned so much in that time. But I just can’t conduct interviews and follow-up with stories/leads during the day when I’m at work. It’s sad, but I’ve made some terrific industry contacts, and I’m still going to be writing for the Toronto Star on occasion.
I’m not sure how that will affect my 2013 income goal of $85-90k, but I’m still going to try as hard as I can to get there. I’ll need to make between $1,500 and $1,600 each month in freelance income in order to hit that target. So far this month, I’ve pulled in just under $2,000 – so it’s possible as long as I keep on top of everything.
As for the full-time job, it’s been great so far. Although it feels weird to be a decision-maker (and a boss), I’m really enjoying the challenge. The people I’m working with are nice, and I think this is a great next step in my career. I was really nervous about being able to handle such a crazy position, but it turns out all of the experience I’ve had in past jobs has really prepared me for this one. Plus, it looks like down the road there could be some major international travel involved. So fingers crossed. :)
Anyway, with the extra time I had on my hands over the weekend, I was able to accomplish a few things to get my finances back on track:
- Increased my mortgage contributions back to accelerated bi-weekly payments with an additional 20%.
- Created a spreadsheet to track my 2013 income.
- Submitted paperwork to turn my TFSA with TD Canada Trust into an e-series mutual fund account.
- Started sorting through my 2012 receipts (this is going to be a long process).
- Started looking for an accountant.