I checked with HR at Wal-Mart to find out what changes occur when I go from full-time to part-time. The main change is that I will not have sick pay and my vacation pay will accrue at a slower rate. When I get closer to going part-time I will find out exactly what I would’ve had for sick and vacation pay. Before I go part-time, I will make sure that I have that equivalent in savings.
At some point, I will figure out what I want my “benefits” to be as a self-employed woman on her way to financial freedom from passive income. I will have my benfits equivalent in its own savings account. My self-employment income goals will not include my benifit package (savings).
For now I’m very happy and excited to have more than the hours I’m cutting back at Wal-Mart covered with the income I’m getting from writing. I’m also looking forward to having more time to write which will increase my self-employment income. With just the work I have now, I’m under my earning potential due to not enough time available.
I can’t work on savings right now due to I’m in desperate need of the income, but that will pass. By the beginning of the year I plan to have one part-time job and writing full-time! By my birthday I plan to have my self-employment benefits package in savings.