Taking a leap from working for a company to self-employment is not easy, but if you're thinking about doing it, you'll be among many other ambitious women. According to Forbes, self-employment rates went up among us post-pandemic. Women represent at least 40 percent of all self-employed professionals, an increase from 34 percent in 2016.
According to other research, among women-owned businesses, 90 percent have no employees. Ninety-six percent of Black-owned businesses, overall, have no employees. Self-employment has also been deemed an “essential part of the economic stability of mothers,” with women launching their own sole proprietorships and side hustles (or freelancing their skills to brands and companies) in order to have time and earnings flexibility.
Women left their jobs in droves during the Great Resignation, and although some have returned to work, many, like myself, are still riding self-employment until the wheels fall off. Leaving a stable job with benefits to go off on your own, you might be thinking, "Well, how will I pay my bills? I've got a lifestyle to uphold."
Here's what has helped me and many others in planning to make an exit from a 9-to-5 to pursue dreams of working for ourselves:
1. Tighten up that spending and map out an adjusted budget for your future self-employment life.
This is almost like budgeting backward. Think about what you'd like your life to look like once you've gone off on your own, and figure out a ballpark figure of how much that lifestyle will cost. Be sure to note the non-negotiables first (like childcare, housing, food, education, social life, church, and other expenses already part of your budget that you refuse to compromise on).
Get clear on why you're pursuing self-employment in the first place (i.e., to travel full-time, downsize in order to live simpler, focus on mental health, prioritize stay-at-home parenting, or retire early) and what lifestyle aspects might change because of your choice.
This will help inform the budget you put together that will prompt actions to lead to your tomorrow, not those that are sustaining you today.
Do you need to fast from Amazon purchases for six months to a year in order to save up? Do you need to purchase more insurance policies? Do you need to set aside funds to invest in a website or get more training in order to step fully into self-employment? Do you need to move to a smaller home, get a roommate, or decline more than a few happy hours in order to have enough money to feel confident in leaving your job?
2. Set a number and a deadline for when you'll resign so that you can follow a deliberate savings plan to reach a specific goal.
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If you want to have a certain quality of life once self-employed, figure out that dream number and then work toward achieving that (or at least build habits that will get you to that number once you're self-employed for good.)
And set a deadline for leaving in order to plan savings accordingly. For example, if I were working a 9-to-5 and needed $20,000 in order to feel secure enough to quit my job (with the consideration that I might possibly be without steady income for the first six months and need to cover basic bills during that time), I'd need to save up little over $3,300 a month for six months in order to do that.
You can break down the cost in months, weeks, or years, depending on your deadline, timeline to resign, and financial obligations you'll still need to cover once you quit your job.
3. Talk with a financial adviser, bank rep, or accountant to help you crunch some numbers.
If you find the thought of leaving a job and going the self-employed route stressful when it comes to financially planning the shift, get some help. Many credit unions and banks offer resources and professionals who can let you know what shifts you might need to make financially or give you a real sense of how you're already spending money so that you can adjust your budget to save and plan financially for your new future.
Be sure if you go with an accountant that they're certified and that they have experience working with entrepreneurs or self-employed professionals. They might also be able to suggest ballpark figures for changes in taxes and interest rates that might need to be considered (or at least lead you into thinking about those things so you can take your questions to a tax expert).
Get the help you need so that you can arm yourself with information to fight fear and really take the action you need to set yourself up financially to transition into self-employment.
4. Use spreadsheets and other tech tools to help you track your plan and allow you to easily see the progress you're making in saving up and prepping for self-employment.
Sometimes spreadsheets can seem a bit complicated and annoying to use, but if you're good at creating and using them, please do. If you're not, there are templates you can use for budgeting that are perfect for setting up your "Quit My Job And Go Self-Employed" budget. You'll want to think about how much you can reasonably save, plus other ways to cut costs that won't drastically impact your quality of life, work output, or mental health.
If your bank has an app that tracks your spending and allows for organizing the information to track it, use that feature. You can also use budgeting apps to track your spending, offer reminders, or alert you of limits you've set so you can reach certain goals.
5. Start landing contracts and clients while you're employed.
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It might not be ideal to fast-track your quit date if you don't have savings or some other form of financial help, but if the pressure will motivate you, by all means, put things into high gear. I had very little savings when I left a job to go self-employed, and thank God it worked out, but I've learned through the years that the transition would have been a lot easier had I saved a bit more before resigning. I literally could have stayed an extra nine months to a year, gotten more clients and experience, and been a bit less stressed in my self-employment transition.
Even if your plan is two years from now, within those two years, you should be building up a framework that allows you to make more money today. Network, build that website, start offering your skills on a freelance basis as a side hustle, and funnel that money into savings for your future when you're fully self-employed. Talk to someone about investing some of those savings so that they can grow.
As long as what you're doing on the side is in alignment with any employment contracts and policies and does not jeopardize your standing at your day job, you can start squirreling money you're earning today doing what you will one day leave your job to do full time.
When I left my job years ago, I got my first client through a referral from someone I knew in my industry. My next one was also a referral---someone I'd worked with while being employed full-time at a company. By the time my little savings had run out, I'd already landed contracted work that guaranteed a certain amount of money, covering my bills through a certain period of time.
From there, I planned accordingly in order to increase my earnings, adding in clauses and other amendments in contracts to protect myself financially.
Transitioning into self-employment doesn't look the same financially for everyone, and some of us have to make real sacrifices in order to build up to the future life we want. For me, that included radically cutting out a few things I loved, leaving an apartment and going fully digital nomad, and maybe even taking on a few odd jobs in order to add to my savings in order to quit.
For you, it might look like cashing out that 401K (I did that, too, but beware of the penalties, as this should really be a last resort option.) For others, it might be using that "new car fund" to fund your life while you're working to land new clients from a beach paradise somewhere or living the exact same quality of life you had at your 9-to-5 because you were great with your savings, have help in the form of a spouse, or come into a cash settlement or inheritance.
However it looks for you, be smart with what you have, think positively and strategically about how you can realistically finance your transition, and utilize an exit plan that makes the transition much easier.
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In an xoNecole exclusive, the mom of two opened up about many things, including starting her wellness journey at 13 years old. However, a near-death experience during a procedure at 20 made her start taking her health more seriously.
“There's so many different levels, and now, I'm in a space of just integrating all of this good stuff that I've learned just about just being human, you know?” Dreka tells us. “So it's also fun because it's like a journey of self-discovery and self-mastery. That's what I call it. So it's never-ending.”
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If you follow Dreka, then you’re familiar with her holistic lifestyle, as she’s no stranger to promoting wellness, self-care, and holistic living. She even lives part-time on a Mississippi farm, not far from her grandmother and great-grandmother’s farm, where she spent some summers as a child.
While her grandmother and great-grandmother have passed on, Dreka reflects on that time in her life and how having a farm as an adult is her getting back to her roots. “So the farm was purchased back in 2017, and it was like, ah, that'll just be a place where we go when we're not touring or whatever,” she said.
“But COVID hit, and I was there, and I was on the land, and I just started remembering back to going to my grandmother's during the summertime and freaking picking peas and going and eating mulberries off the freaking tree in the bushes.
“And she literally had cotton plants. I know some people feel weird about picking cotton and stuff. She had cotton plants and I would go and pick cotton out of her garden. And she had chickens, and I literally just broke down in tears one day when I was on the farm just doing all the things, and I'm like, ‘Oh my gosh. I'm literally getting back to my roots.”
"I literally just broke down in tears one day when I was on the farm just doing all the things, and I'm like, ‘Oh my gosh. I'm literally getting back to my roots."
You can catch glimpses of Dreka’s farm life on Instagram, which shows her picking fruit and vegetables and loving on her animals like her camel Eessa. Her passion for growing and cultivating led her to try and grow all of her ingredients for her wellness brand, Dreka Wellness. However, she quickly realized that she might be biting off more than she could chew. But that didn’t stop her from fulfilling her vision.
Watch below as Dreka talks more about her business, her wellness tips, breaking toxic cycles, becoming a doula, and more.
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As far as the dating apps that led to some type of long-term success, a survey from The Knot says that Hinge leads the pack (with 35 percent) followed by Tinder (with 25 percent). Then, if you take into account a Lovehoney survey of 2000 people, which revealed that 60 percent of men and 42 percent of women have admitted to having sex on the first date — uh-huh, now do you see why a piece like this is both relevant and necessary?
Virtual dating isn’t going anywhere any time soon, and although “first date sex” used to be somewhat taboo, clearly, that isn’t even close to being the case anymore. So, since both are a big part of our culture, let’s explore how to approach merging the two (if you’ve been wondering if you should…that is).
What’s the Purpose/Agenda of a First Date?
GiphyOkay, so let’s start by laying a bit of foundation because, personally, I am a big believer that when we don’t know the purpose of something, it’s almost guaranteed that on some level and in some way, we are going to either misuse or abuse it — dating is no exception. And what’s the purpose of a first date?
To get to know if there is more of a connection than just an initial attraction or surface-level chemistry (check out “What's The Difference Between Chemistry And Compatibility?”). And honestly, that’s why all of the social media debates about women expecting a $200 date off the rip and men expecting sex in return if that does indeed go down are nothing short of nauseating to me. ON BOTH SIDES, all it sounds like is a transactional hustle.
Nothing about that type of motive says, “I’m trying to see if there is something real here;” both are about nothing more than how much juice is in the squeeze (and that’s putting it politely — SMDH).
Although there are dozens of reasons why I think dating has become so chaotic for a lot of people these days, here are two of the main ones as it relates to this article in particular:
1) More people need to remember what author M. Scott Peck once said, "Until you value yourself, you won't value your time. Until you value your time, you will not do anything with it." When it comes to first dates, specifically, that’s why I don’t get what all of the drama is behind coffee dates. While TikTok is telling you that agreeing to those means that you are settling, if you value your time, you absolutely aren’t — especially if there have been no real conversations prior to the initial meet-up.
A coffee date or drinks after work doesn’t say, “He’s cheap,” so much as, “If there’s something here, then we can build on that. If there’s not, you got 30 minutes of my time; no harm, no foul.” Time is something that you can never get back, so why waste it? Besides, if you feel the need to brag about going on an expensive dinner, go out with some of your girls, and y’all split the tab.
At least you’ll know that you’re going to have a good time because you actually know those people (by the way, if that triggers you, that already reveals a lot, as far as your motives are concerned). No one should need a date to validate them — especially a first date. If they do, there’s some stuff going on that a date, a man nor a relationship is going to fix (just sayin’).
2) Talk to the long-term couples who are 50+ (if they’re 50, that now means they were in college in the early 90s, by the way). Ask them about what dating was like when they were younger and single. I’m wiling to bet that, for one thing, expensive ass first dates weren’t even on their radar, and two, it was rare that they went out with someone before talking to them, at least a couple of times on the phone.
Yep, as semi-antiquated as it may sound in the world that we live in now, it was pretty standard that if you saw a stranger who caught your attention, you would get their number, talk on the phone to see how the two of you vibe and then some successful conversations down the line, if you both believed that something was there between the two of you, you would mutually decide to go on a date.
And because some type of foundation was already laid, if the first date did end up going beyond just coffee or drinks, it was because the two of you had already invested time — you already knew that you wanted more. And honestly, to me, that is one of the benefits of virtual dating or talking on the phone for a couple of weeks before going on a first date — you can actually get to know someone…beyond what you can get out of them.
“Sex on the First Date” Has Levels to It
GiphyAnd when you take into account all of what I just said, it seems to me that there are two kinds of “sex on the first date” scenarios that should be pondered. One is the kind where you meet someone, text each other about a place to meet up, get to know each other for 1-2 hours max, and then go back to somebody’s place to get it in. The other is when you meet someone and, whether online or by phone, you both decide to ease into things by talking first…for a while. Then, after an awesome first date, sex comes naturally to both of you.
And how long is a while? I mean, because this platform is for women — until you feel safe. Until you have asked the kind of questions that make you feel like you want to spend more time with him on a deeper level. Until you get that his intentions aren’t just shallow…or physical. Until you know that you aren’t just attracted to him — you know that there are things about his personality and character that you actually like. Until you want to go on a first date.
And unless the two of you are talking for 2-3 hours a day, every day, for a week straight, you can’t really come to this kind of conclusion in record time. It may take a few weeks or even a few months — and that is perfectly fine. Someone who wants to know you for you is going to be okay with communication being set as the foundation of the relationship that the two of you are potentially building anyway, so…by the time that you both decide to meet up for a first date, it will be the icing on the cake.
And, because you actually like him for him, the kind of date that he plans, you won’t be grading it based on nothing more than the price tag; it’s a win for all parties involved.
Okay, so if you do decide to go the route of a “slow build,” you do take your time before a first date, and then you do decide to have sex with him — does it constitute as “first date sex”? I mean, technically, probably. However, the reputation of first-date sex is someone is getting to know everything about you (you know what I mean) without knowing much about you at all. On the other hand, when you opt to communicate for some time before a first date (and the sex that follows), it’s not so casual…and yes, that makes it — different.
3 Questions to Ask Yourself Before Sleeping with Anyone New
GiphyNow that I hope I’ve brought some peace of mind to if it’s a standard “sex on the first date” type of situation if you’ve been virtually hanging out with someone for a while, let’s talk about some of the main things that you should consider before having sex with anyone who you are beginning to interact with on a physical level.
What is the energy like?
One day, I’m going to write about how true it is that energy is exchanged during sex. A big part of the reason is that we are sources of energy — and honestly, the kind of energy that you experience with someone when you’re not in their physical presence vs. when you actually are? It tends to be quite different.
Therefore, it’s a good idea to intentionally “tap in” to see what kind of vibes are exchanged when you’re around each other before deciding to take it there because there is a possibility that how you feel about someone in person may be different than how you do online or over the phone.
What type of sexual accountability conversations have you had?
One of the biggest mistakes that people make is thinking that real life is a soap opera or a rom-com — for instance, you can have sex, and there be no real consequences. Chile, please.
Don’t ever put yourself in the position where you think that the two of you connect so well that you shouldn’t talk about how often you both get tested, what your approaches are to birth control, what your sexual deal-breakers are, and what your sexual expectations may be.
And listen, if all of this seems like too much for a first date, then you already have your answer about if you should have sex after the first date…RIGHT? Because how is it that you don’t want to get into his mind, yet you’re okay with him getting inside of you? Nope. Uh-uh. Nada.
What would sex on the first date accomplish?
Back when I used to mentor teen moms in public schools here in Nashville, I would always call them out whenever they told me that unprotected sex “just happened.” NO. IT. DOES. NOT. There are so many steps involved, from calling the person, setting up a plan, meeting up, pulling off clothes, etc. — all of us have plenty of opportunities to rethink what we are doing. Same goes for first-date sex.
Listen, no matter how much you are feeling the guy from communicating before the date and even more once you meet him, take the time to ask yourself, “What will sex right now accomplish?” An accomplishment is something that brings about credibility. An accomplishment is something that makes you feel fulfilled. An accomplishment is something that causes you to believe that you achieved something great.
That said, if all you’re after is a good time and maybe an orgasm, perhaps sex on the first date will be an accomplishment for you. However, if after starting off solid with this new guy, if you’re not sure what sex will accomplish, in the grand scheme of things, pause until you know. There is absolutely nothing wrong with that — and the right guy for you will agree.
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Bottom line, if it’s a first real date and you do have sex after it, yes — you just had sex on a first date. Although, when there has been a foundation built prior to it, via healthy communication…it’s less risky and something that you (typically) can feel more confident about — especially if you take all of what I just said into (serious) account.
Sis, when it comes to giving any of yourself to someone new — online or not — please make sure that you do.
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