Earlier this week, my employer announced that everyone would need to take 5 days off unpaid every 3 month period until the economy recovers so that we don’t need to lay anyone off. In addition to my 3 weeks of paid vacation time which cannot be applied to these unpaid days off, I now have 7 weeks off per year.
In my unpaid time off, I feel that I need to focus on generating passive income. My main source of this income over the past several years has been selling my photography at istockphoto.com (it’s not easy and it does require the right equipment and technical skills, but if you’re otherwise passionate for photography it may be a good option for you too).
My favorite way to do my photography is while traveling (I love architecture, scenery, and wildlife) so it’s time to utilize my vacation fund. I’m saving $450 every 3 months which will be my budget for my trips. It’s important to have that vacation money saved up in advance of spending it, especially in the current economic climate. I don’t expect I’ll be able to travel on all 5 of my unpaid days off on that budget but I should be able to do 3 or 4 days at a time. I live in California and am looking at traveling to relatively close locations like Arizona, British Columbia, and Colorado.
These photography trips will allow me to multitask during my forced time off by vacationing while generating more passive income. That passive income will smooth over my budget while my regular income is lower than usual.
Featured in the Festival of Frugality at Funny About Money.
Featured in the Money Hacks carnival at MoneyNing.
Related posts:
- ING Sub-accounts for Travel and Auto
- Meal Plan 4/12
- A Week Without Spending
- What Does CRV Mean and How Does It Work?
- Is This What I Want Most?
 Subscribe via RSS |  Subscribe via Email | learn more about subscribing |
Comments on this entry are closed.