One of the most unfortunate aspects of living in a capitalist economy is the ability of an employer to induce fear and create stress in his/hers employees.
Employers have incredible power because of this.
The obvious foundation for this power is rooted in their inherent ability, to cut off the primary income stream of an employee, by deciding to fire them.
Of course, an employer can make life a misery for an employee, by other means than just firing or threatening to fire. He can make inappropriate remarks or create an uncomfortable work environment – but we still must realize, that the only real power an employer has, is to provide us with a job or not.
If he treats us badly, we always have the option to walk away. Then we lose our job, of course, and it therefore only boils down to whether or not we have a job.
The only circumstance in which this power has any significance to us, is if we are addicted to our jobs. So in reality, this article is actually about how to become unaddicted or independent of your job – financially. If we can achieve this, our boss loses his power to scare us.
(If you have become addicted to your job for other reasons than financial ones, you might have built your identity on your job description – I then feel for you, and I don’t know how to save you. You can’t let this happen.)
Here are my 7 tips for how to become less dependent on your job.:
- Become a minimalist
We have established so far, that the only real thing an employer can give you is a job/money. If you become less dependent on your paycheck, your boss loses his power over you.
I have written a lot about how to become a minimalist on this site, but all you really need to do is stop wasting your money on the unnecessary stuff. That way, you will need way less, and you will need your boss less and less.
- Be frugal
If you begin living frugally in general terms, you will become less dependent on your job too. If you cancel all of your crazy monthly subscriptions for magazines and newspapers, if you stop wasting your hard earned money on lattes and junk food, you won’t depend on your job as much.
- Pay off debt
Once you stop wasting your money on the unnecessary, you will find yourself with some extra cash in your pocket. Use it to pay off credit card loans and other expensive debt. I think this stage will have the greatest impact on your independence.
- Start saving
When all the loans have been paid off, you start putting your spare cash away for a rainy day. That way, if your boss decides to fire you, you will be okay because you have built up a comfortable buffer. This will allow you to be a lot less stressed out if you hear rumors about new firing rounds in the company.
- Get insurance
I am currently a member of a union, where I can buy insurance that covers me if I get fired. Because of this, I sometimes hope that I will get fired from my job. My boss has no power!
However, when the glorious day comes, where I can retire, I will obviously cancel this insurance policy.
- Create a new income stream
Something that will make you truly free from the angst of losing your current job is by finding another way of making money.
How would you feel about driving for Uber for a few hours every Saturday? You could always up-scale that job in case of an emergency.
What if you had two part-time jobs instead of one full-time? That would make you much less vulnerable to being fired.
- Create automatic income
Having automatic income is just great in general, and there are tons of ways you can do it. Start a blog, a Youtube channel, create a drop shipping web store or get into investing.
Automatic income will be your backup mechanism, that earns extra cash for you – even while you are on vacation.
What about you guys?
Do you utilize any strategies, to minimize the power your boss has over you?
Thanks for reading.