On finding balance and stability
Many remote workers earn 6 figures per month but still live paycheck to paycheck. Worse, they are tied to their desks, juggling two or even three full-time clients.
It pains me to see this among remote professionals - probably because I've experienced the same struggles myself.
To create successful and sustainable remote careers, I’ve learned that it is not enough to close deals or command high rates. Work-life harmony and strong financial habits are also necessary to enjoy the fruits of your labor.
Here are some hard-won lessons on finding balance and financial stability as a remote worker:
Build genuine relationships
Feast and famine cycles are common in a remote work setting. One month your schedule is filled with client work. The next, you get crickets.
Lean seasons are part of every business, but you can minimize their effects by building genuine relationships with your clients.
Investing in your relationships fosters trust and opens many opportunities for longterm work — or in some cases, business partnerships.
Shepherd was built on trust
Before co-founding Shepherd, I worked as a general manager for Need/Want, Marshall’s holding company. I was in charge of operations for one of his businesses in the US.
In the beginning, I treated this role like any other transaction. But over time, Marshall and I built a connection based on mutual trust, respect, and friendship.
We eventually became business partners because of the relationship we’ve cultivated over the years.
You, too, can build genuine relationships with your clients by:
Caring about their business like it is your own
Being a partner for growth
Proactively sharing your ideas
Doing good work consistently
Checking in, even if it’s not work-related
Bottomline: relationships are like seeds. Nurture them and you'll reap their benefits over time. They are an essential part of longterm success.
Beware of lifestyle inflation
Lifestyle inflation happens when your expenses increase along with your income. Instead of saving more, you end up spending more.
Now, this isn’t necessarily a bad thing. That’s why we work hard, right? So that we can create a better life for ourselves and our loved ones. The problem happens when you don’t keep track of your expenses or worse — fall for the “deserve ko to” trap.
The “Deserve ko ‘to!” trap
“Deserve ko to” is a common motto we Filipinos tell ourselves before splurging. Again, there is nothing wrong with treating yourself every now and then. But when we use this “deserve ko to” mindset to make unwise financial decisions, it becomes a trap.
Here’s what happens:
You work hard, working long hours or juggling multiple fulltime clients
You end up stressed
You compensate by buying more expensive things
You work even harder to fund your expensive lifestyle
Rinse and repeat
In many cases, one’s health and personal relationships take the toll of this cycle.
How to break free
To prevent this cycle, it’s important to have strong financial foundations. I highly recommend creating — and sticking — to a realistic budget.
Contrary to popular belief, a budget doesn’t restrict you from enjoying the fruits of your labor.
Instead, it helps you:
plan for your needs and wants
anticipate your workload
create equitable rates
avoid impulsive purchases
minimize the negative effects lifestyle inflation
Since I love traveling, for example, I keep a separate account and budget for my travel expenses. I set a budget goal for a certain trip, taking into consideration expenses like airfare, hotels, meals, and pocket money. I only book the trip once I’ve met my budget goals. So far, this method has helped me travel to many destinations without straining my finances.
For me, a budget is like a map. Follow it and you’ll set yourself up for remote work success.
Be present
While remote work unlocks a significant amount of time, it also blurs the line between your job and life. This is especially true when you work from home. It could be difficult to distinguish the beginning and end of your work day when your home also serves as your office.
As a result, many remote professionals work more than 40 hours a week. Instead of spending that extra time with loved ones or on activities that contribute to overall balance and wellness, we spend it on more work.
In my experience, overworking created a void that I tried to fill with material things. Many of my personal relationships suffered because of this.
It costs nothing to be present
When you break it down to the basics, all our loved ones want is our time and attention. It costs nothing to be present for them. In my experience, the gift of time is more precious than any material thing you can buy.
Instead of spending extra long hours at work and compensating your absence with expensive things, be mindful of how you spend your time. Create healthy structures and boundaries for yourself. Most importantly, be present.
As you embark on your remote work journey, don’t lose sight of why you started it to begin with.
My final thoughts
Remote work offers many benefits, but it also takes hard work. You can make things easier by building genuine relationships, sticking to healthy financial habits, and staying present. Which of these habits will you practice today?
If you found these useful, I would appreciate you sharing this with your network.
Until the next post,
Joemer.
