What I Did When I Decided To Take A Salary Even Though I Was Not Earning

Posted: April 5, 2016

The one thing I really missed about a job was the regular salary. So I decided on an investment option with monthly returns, giving myself a salary!

After a lot of thinking and introspection, I decided to quit my job. I wanted to try my entrepreneurial instincts. I had these grandiose dreams and visions of me becoming a millionaire!

The first few months of my entrepreneurship journey were dreamy, romantic with the thought of running my own business. But as days passed, just like any other entrepreneur I too had to face many roadblocks. And as it happened things did not pan out the way I envisaged, I burnt some of my hard earned money and unhappily decided to put the project on the back burner. And I moved on to next project, not wanting to give up on my entrepreneurial dream.

Anyway, coming to the main point, once I quit my job, got busy with my business, dealing with the daily chaos. There was something niggling me all the time.  I was always used to working, receiving a salary, spending it freely, the way I want, on things that I wanted or sometimes did not want. More importantly, I never had to ask anyone for money!

Once one of my friends asked me, “What do you miss the most about the work life?” So without thinking, spontaneously the reply from me was, “I miss the SMS that I used to receive from my bank about salary credit.”

And that’s when it hit me, for me; really the most difficult part of not working was the financial dependence. The lack of freedom (self-imposed, I must say) to use the money as and when you please.

Not that I was told not to, neither were there any restrictions, just the guilt that I was not earning (Maybe I think too much!)

Every time I would discuss this with my husband, he would say, “Arre, what’s the issue? Take whatever you want, do as you please, do I ever ask you?” Right, you don’t, but I still have a problem.

Now I am not sure how other non-working women or home makers or stay at home moms deal with it (no offence to anyone here!). Do you feel the guilt of not earning, financial dependence, the need to freely spend your money? I surely felt it, maybe I am wired differently. Maybe it was my working class mentality; after all I have been working for the last 15 years! So I had mentally not transitioned into thinking like an entrepreneur. Or could it be self-respect or worst still ego? And after a point, impacted my self confidence too. It surely stopped me from being myself.

So I decided that I need to resolve this issue once and for all. I decided to take a salary for myself. I did work for so many years and had savings of my own. So I invested in a low-risk Mutual Fund and opted for a Systematic Withdrawal Plan, a facility that automatically withdraws a predetermined amount from your mutual fund and deposits money in my bank account on a monthly basis, like a salary!

I would recommend this to all non-working women, even if you have never worked before. Start with a small corpus even if it’s been given by your spouse or parents. Invest it wisely as per your risk taking ability and take a salary for yourself. Having an account in your name and receiving money in that account on a regular basis gives you a great feeling. What’s more, spending the money from this account gives you a different high altogether!

To many this may sound silly, but it’s okay, I felt good and my confidence returned. That, to me, was more important than anything else.

And of course, I once again started receiving the monthly SMS from my bank.

Image source: woman with cash in hand by Shutterstock.

I have been in the finance and investment field for the last 15 years. I

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  1. Loved it…to the core.Keep rocking.

  2. Hi, read your writing and really found it informative. Just a few points which I want to understand is, does money really boost confidence level. I agree that to the point that having worked on something and getting paid for it gives a work pleasure but getting interest credited on your account from mutual funds is something won’t effect my confidence level. Please no offence but I feel working little, on anything like content writing, or doing other odd job that can bring smile and perks will definitely make me feel good and positive with confidence.
    However investing in mutual funds and equity is really good investment options.

    • Thanks koyel for reading. I completely agree with you. This is no substitute for working and earning. But if there’s an interim period in which you are unable to work, then this approach may help. Secondly, its not about the money, more about dependence that got to me. 🙂

  3. Hi….good thought, loved it. I have a doubt will I get the same amount of interest every month…don’t think so. N what about fixed deposits in banks n post offices. pl advice

  4. I completely agree with you. Can’t discuss also with anyone else as they dnt understand. And we feel tht we think too much.

  5. Hi Sindhura, Thanks for reading the article, you can fix the amount you wish to receive via SWP, the amount will be from the principal. however the remaining keeps earning. Fixed Deposits do not have an option of monthly payout. As far as Post office is concerned, I think there is a Monthly Income Scheme that you can check.Thanks.

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