Making a Leap: Reducing Employment Hours to Increase Self-Employment

Looking back to 2012, one of my goals was to increase my self-employment income to be more than 15% of my income for the year.  Three years later, I've surpassed this goal!  Although we aren't at the end of 2015 yet, I can estimate my numbers quite well.  There is a possibility that my self-employment income will be more than I have forecasted.

Primary job: (25 hours/week)
  • 2012: 79% of income
  •  2013: 75% of income
  •  2014: 80% of income
  •  2015: 70% of income 
Secondary job: (average of 5 hours/week)
  • 2012: 12% of income
  •  2013: 13% of income
  •  2014: 10% of income
  •  2015: 10% of income
Self -Employment:
  • 2012: 5% of income
  • 2013: 11% of income
  • 2014: 10% of income
  • 2015: 20% of income
Other Income:
  • 2012: 4% of income (Maternity Employment Insurance during January)

WOOT!! This year my NET self-employment income will be 20% of my total income.  I've grown business slowly, quite purposefully.  I havn't advertised due to fear of growing too fast, and not having time to allocate to new clients.  New clients currently come via word-of-mouth from current clients. 

I've been hesitant to reduce my hours at my primary job up until now, because it pays well, has employer paid RRSP contributions, and paid sick time. It also includes FULL medical benefits while working Part Time.  There are not many places where you can obtain medical benefits working part time!

I'm making a leap in 2016.  I've already discussed with my manager permanently reducing my hours at my primary job, probably starting in February.  I'm not reducing by much, but I will have an extra two days a month to have available for self-employment work, or a small amount of contract work elsewhere.  Maybe I'll even start blogging more or pursuing more within the social media world. I will probably even advertise my services a bit this year. In case you are wondering, I do Income Tax Preparation and E-Filing, Payroll, and some Bookkeeping.  I'm also open to new opportunities!

It's a big jump to do this, because reducing my hours means that I lose medical benefit coverage.  I'm earning enough in self-employment to both purchase medical benefits for my family, (medical benefits are EXPENSIVE), and to cover the wages for the number of hours that I'm decreasing by.

I'm excited to make these changes, and to leap into them in the New Year.

Ready to jump!  (Not really!) See my husband at the bottom? 1/2 way up Dorset Tower


  1. Well done! It think it is so important to set realistic goals (and write them down)! My goal is to retire completely from my full time job in 5 years! Slow and steady wins the race :)

    1. Slow and steady works for me! :) Now on to make new goals for me. :)

  2. That's awesome - all the best with your self-employment!

  3. This is my goal too! Fewer cubicle hours. More laptop no pants hours.

    1. I can't go with the no pants because clients come to the house, but I like being able to take a nap when needed if I'm really tired, or being able to bring dd to appointments and activities.


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