Ask HN: buying your own time. | Hacker News Reader

Ask HN: buying your own time.

7 pointsaarongough17 comments

I've reached the point where I've realized that I need some time to myself to start working on my 'side projects' with the intention that said projects will eventually generate enough income to support me.

To this end I have realized that I need to 'buy' a bunch of my own time. Preferably I would like to buy about 6-12 months of my time which, at my current living standard, would cost about $12-24k to cover my basic living costs.

What I'm wondering is: does anybody have any good suggestions for ways to fund this? I can sell my non-essential possesions etc, but I don't have much in the way of savings. I am very hesitant to go into debt as that will really reduce my future flexibility.

All suggestions welcomed!

View on HN

I turn down about 1/2 of consulting offers (two today, which is a record), spending the time on research, general learning, and the non-tech aspects of living.

For me the trick is: I got an agreement from my wife that it is better to remain on top of new tech than to maximize earning. Also, living in a low cost area helps increase flexibility (Carol and I sold our large house near the beach in San Diego, and bought a small economical house in the mountains in Central Arizona).

The great mythologist Joseph Campbell advised his students to "follow their bliss," and I can agree with that as long as you are supporting yourself and family. In life, try to do what makes you happy as often as possible.

Also, +1 for you for not wanting to go into debt.

What are you doing right now? A job? if so, work and save until you make that $24K and then buy your own time.

I'm working full-time right now. Unfortunately I don't think I'm going to be able to bear to stay in my current job much longer, which is the main reason I'm trying to work out alternatives for a quick way out...

Can't you find another job in this economy?

Though times always come. What about doing some microISV at night? If done correctly this should make you a living.

One option is moving to another country for those six months. Costa Rica, Chile, Argentina if you want stay in the Americas. Thailand, Philipines, India, China if you want to go to Asia. If you don't own a house, this is a good option. Sell your car & you'll have the money.

Do you have savings you can live off of? Normally, people would save up what they need to live off of or just contract or freelance on the side.

edit: i (and i'm sure many others here) have similar aspirations.

I do have some savings, but they're fairly measly at the moment due to complications earlier in the year.

What I'm looking at doing is selling of all of the stuff that I don't really need (that giant TV, part of my vintage guitar collection, etc...). I think of it as trading possessions for freedom.

I'm also looking to see if I can retrieve my past superannuation payments from Australia, which would help quite a lot...

Use mint.com... kidding. Get an extra job freelancing, night shift, whatever - trade your free time now for your 'side projects' time later.

That is basically what I'm doing at the moment. The main reason that I feel that it's not working out for me is because I feel like I'm losing momentum.

On the other hand my day-job has been the source of inspiration for a few of my side-projects... It's always achieving the balance that is difficult...

Move somewhere cheap, like detroit and get a dumpy apartment.

FWIW:

For personal reasons, I've made drastic lifestyle changes. Part of the result is that my expenses have dropped drastically and my concept of "essential possessions" has been radically altered. Although it wasn't done specifically to help me venture out on my own, it has become increasingly clear that it has better positioned me to do exactly that. I currently live without a car. I currently have a lot less clothes than the typical american. We cook most of our meals from scratch yet own one frying pan, one pot, and one oven pan. I have very little furniture. Etc.

It's been very freeing and the result is I have more time, energy and mental focus for working on personal goals.

It's interesting that you say that. I am seriously considering doing something similar.

I've realized recently that I can about halve my rent if I am willing to rent an apartment with other people, and given that rent is my single biggest expense that would have quite an impact...

But to do that I would really have to change how I live. I'm pretty used to having my own space...

You might consider picking up a few books (possibly used or from the library) with titles like "How to live without a salary" by Charles Long or "The Tightwad Gazette" series by Amy Dacyczyn or "How to get out of debt, stay out of debt, and live prosperously" (I don't recall the author). I read stuff like that years ago and was a homemaker for many years when most folks in America today think a family cannot live on one income. I had to get divorced to really escape the rat race of conventional life. But in some sense I have been laying the groundwork for my current lifestyle for decades.

Good luck.

Create a handful of super specific and efficient web apps that have a low monthly fee to use and have a good potential for a user base. Target internet marketing or SEO type apps that help automate things if you want a niche suggestion. Use the income and knowledge gained to step away from whatever obligations you currently have and move onto bigger projects while spending a few hours a week making sure the other smaller projects continue to run smoothly.

EDIT: Spelling mistake in first sentence...

Decrease your spending, then save the difference. The more you can decrease your spending, the more you save and the more time you can survive on the saved money.

Yeah, I'm definitely looking at that. Decreasing my spending has been a big goal over the last year and I think I'm going to make it even more of a priority this year.

Ever thought of going homeless? Rent is a bitch.

Reply on news.ycombinator.com