Income & The Boogaloo of Week Two

Eleven days into this one month pledge. Where does the big plan and the sprint sit: there’s progress.Did I think this month was going to be filled with wonder and magic? No. I figured it would be a month of focus and the less definable universal alignment of wishes and results.

Income Incoming

On June 1st, I got a really good lead: an ongoing position. The timing and the dynamics of the position couldn’t be better. To qualify for the ideal mortgage terms, I needed to nudge my income upwards. I have a regular job: a three day per week position. I love the place even if the income isn’t as high as one would see in the private sector. My intention was to use the two days per week for consulting. That happened for a short time, then I got lost in renovation land. Last month, I got back to consulting and that has been prosperous. The problem with self-employment: banks hate the self-employed. For my self-employment income to count in the eyes of a bank, I would have to show off a two-year history and they’d likely look at the poorer year as the income level I was capable of. So be it. When I spoke with my mortgage broker and we ran the numbers, we qualified for a decent mortgage– one capable of giving us a perfectly acceptable townhouse. What if we wanted more wiggle room? I couldn’t invent two years of financial fortunes in six months. Even if I clocked in at $100k per month, they would look at 2015, when I took a year off from consulting and say, “looks like things aren’t very good.

The alternative to time travel or a lottery win? A job. I asked my mortgage broker: “What if I got a job for those couple days per week? How would that change things?” I gamed out the what-if based on my likely private sector income and done as an employee. Presto-chango: the mortgage numbers would look awesome. I was contacted via LinkedIn with a job offer. I came back with a lot of swagger: something to the effect of “I make a lot of money consulting, I only want two days per week, and I want to work as an employee to qualify for my mortgage.” The prospective employer said, “sure.” We juggled around some details as of Tuesday night, it looks like it’s a go. It’s not $10k in June– not all by itself. But between my 3-day gig and this 2-day gig, I get two-thirds of my way to my goal. I still have a healthy amount of consulting work coming in, so my task now is how to handle this influx of work. How do I deal with having a lot of work coming in? Triage and skills division.

Triage

The high level stuff I do is hard for others to accomplish. It’s not an elite set of skills: it’s just uncommon. Some of my work is very turn-key and mundane. Those tasks are trainable. For the work, only I can do, that stays on my plate. For the lower hanging fruit (data entry, site set-up, domain transfers), I can task that off to my partner. As serendipity would have it, her job shifted from full-time giving her more time to help with my work. While giving her work and income is great, no one buys ⅓ of a puppy. Her capacity and incomplete skill set coupled with my limited capacity but full skill set means we can combine our strengths. I can figure out the game plan of a given project and keep the tasks that can’t be easily taught, then give her the remainder of the work / money. The upshot: with her help, we could make a healthy amount this month and my chunk of that work could allow me to hit my June sprint goal.

Am I “there” on the June sprint? No. Am I on my way? Hells, yes.