Even if you don't love your job, even if you only go in each day to keep that paycheck coming in each week, even if there is no end in sight, there is one thing that can help make your daily grind more bearable. That thing is 'F-You Money.' And it really works!
Not everyone will recognize F-You Money by this name. You might have heard it described elsewhere as an Emergency Fund, a Rainy Day Account or something else but the concept is similar. F-You Money is a lump of money you set aside -- usually 3 to 6 months worth of expenses -- so that you have the freedom to leave your job and find another one without going broke in the process. That's it.
It's not a complicated concept but it is empowering and it can make all the difference in the world.
You might not like the name 'F-You Money' -- or you might love it -- but the name really is a large part of what makes this particular stash of money so empowering. An Emergency Fund might serve the same purpose but it just sounds so passive! Same deal with a Rainy Day Account.
F-You Money means business and it makes you feel like you've got control over your work destiny ... even if you never decide to use it. Despite what its name suggests, you don't actually have to say "F-You!" to anyone. It's enough to know that you could, if things ever got bad enough. The feeling of control counts for a lot.
Even if you do decide to use some F-You Money you don't have to say those particular magic words. You could say, "I've decided to pursue a different endeavour. Thank you very much for all you've done." Then, as you leave you can think to yourself, "And now we start using that F-You Money!"
Short answer: save. A slightly more detailed answer is to save 10% of your take home pay until you've got enough to cover your 3 to 6 months worth of expenses. Granted, it can take a while to save that kind of money. However, even if you need all your take home pay to cover your expenses, with a little bit of frugality and some dedication you could probably manage.
Let's say that 3 months contains roughly 6 bi-weekly pay periods. So you'd need to save 6 paychecks worth of money to cover 3 months of expenses. If you can cut back your expenses by 10% and save that amount you'll be able to save 3 months of F-You Money in 120 weeks or 2 years and 4 months. Which isn't all that long.
When your job is no longer something that you have to do and becomes something that you choose to do, a huge weight is lifted off your shoulders. Even if you still don't really like your job, the fact that you could leave, even if you don't, will transform your perception. It really is amazing!