From permanently couch-surfing, to pulling a Michael Wigge and traveling the world for free, there are some crazy ways to live jobless. Tiring of the 9-to-5 experience is relatable. Perhaps you want to spend more time traveling the world, exploring a freer lifestyle, and richer social connections. Perhaps you want to bow out of the capitalist economic system. Or maybe finding a job is just not within the realm of possibilities during the COVID-19 epidemic. Your reason for living without a regular job will dictate how you can live, but there are surprising and uncommon lifestyles that may be just what you’re looking for.
Diversifying your income will be a lifesaver.
When exploring how to live outside of the regular work grind, one of the first suggestions you will come across is to diversify your income. If those words make no sense, have no fear. Diversifying your income just means to branch outside of earned income. It is the most conducive way to quit your job and still afford a mainstream lifestyle.
Income streams can come from many sources, and if you’re thinking of quitting your job but still requiring money – short of receiving a large inheritance – you will need an income stream. Diversification can be as simple as setting aside a room in your house to rent, or perhaps an entire floor. This can bring in extra cash flow to your budget and allow you to breathe a little easier. Other ways to diversify include low-risk investing or creating small side hustles that you enjoy.
Speaking of a side hustle…
If your end goal is to have a zero-work lifestyle, think big (and usually more risky) investment or get back to work. If your goal is to reduce work hours, then your best option may be a part-time side hustle. Try to find a side hustle that minimizes effort – or even better, is considered ‘passive income’.
Passive income is revenue coming in that requires no work from you. This could include allowing advertisements on your blog or website or writing a book that continues to pay royalties after the initial hard work.
Keep the purse strings tight.
Tracking and controlling your spending will be helpful to you. There are many ways to keep track of your expenses that don’t need complicated spreadsheets. Try using an app like Wally to manage your finances.
As you pay attention to your spending, consider cutting costs where you can. Pay attention to costs like entertainment and eating out as those bills rack up quickly. Consider water and heating costs, grocery costs, etc. You may even live rent-free by living out of your vehicle.
Don’t hustle, just bustle.
For those of you searching for a way to live ‘moneyless’, consider the life of Mark Boyle – The Moneyless Man. However, one thing to note for those wanting to explore this side of living, it requires work. Rather than working on investing, side jobs and passive income, you will focus on foraging or finding food and other needed resources. Dumpster diving is a legitimate way that people find food in the city, just look out for spoiled food.
If you’re adventurous and motivated, try it! Mark Boyle is a well-respected author of living minimally and is now (ironically) earning some nice passive income from his books.
About the Author
Simon Chou is the Vice President of Operations and Growth at BCjobs.ca. Over the course of his career, he carved a niche in brand development, marketing strategy, and online presence for startups. Prior to BC Jobs, he served as a marketing advisor for high-profile blockchain projects including Litecoin, NEM and Ripple. He’s also worked with fortune 500 companies in the healthcare space.
