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Yes, you read that right.  Mr. BFS resigned from his position as a school librarian last week!!!  Last Friday was his last day!  Today is his first official day to start work from home!!!  HOLY MOLY – WE ARE SMALL BUSINESS ALL THE WAY!!!

Building a Blog and a Business

This all became a possibility towards the end of last year.  My client base was growing very quickly, my income doubled, and my work days were edging up from 8-10 hours a week day to 12-14 hours and big chunks of my weekends too.

For anyone who may have just started reading recently, up until July 2010, I was making about $35,000 a year in a cubicle position.  I started BFS in February 2010 and I started my ad business, Crystal-For-Hire, in April 2011.  By July 2011, my online income was surpassing my day job income and I quit to blog using the best blogging sites and run advertising full time. So yes, you can indeed make money online and even do better than a regular job.

Then everything really went nuts.

It was like everyone was just waiting for me to quit my day job.  Within weeks of quitting, I doubled my client base, discovered a few friendly advertisers, and everything just exploded.  I went from making less than $3000 a month to $25,000 in December 2011 alone!!!  I made nearly $100,000 online last year!!!  Please believe me, it was completely unexpected and I was and continue to be eternally grateful for my success and the luck that helped it happen.

Hubby Stepping Up

I was handling this huge growth by working even more and even longer.  Something had to give.  So last November, Mr. BFS took complete pity on me and started volunteering as my record-keeper.  With so many ad campaigns going on at the same time during busy weeks, records were sucking up 2-3 hours of my days.  This was huge.  And apparently my husband liked it.

After his first real week of helping me daily during the first part of his December break, he really started talking about joining me full time.  We decided then, in mid-December, that he was going to most probably quit his day job at the end of the following semester, so June 2012.

Yeah, We Suck at Patience

Further growth, a closer look at our numbers, and some internal debates led to today.  Mr. BFS just couldn’t see the point in waiting and I really needed the help.  So here we are.  Our entire financial existence now relies on Crystal-For-Hire, which is only 9 months old.  Oh. Holy. Hell.

I am completely excited and sick to my stomach at the same time.  You may pick up on that over the next few weeks.  Our friends and family assure us that we will be great.  We think so too but are too scared to say it out loud too much.  So we will all see.  Just like you will be bombarded with posts over the next couple of weeks about my hunt for the best insurance, handling taxes, handling self employment with a partner, and whatever else ends up on my mind.

Our Finances

As of right now, we have enough cash on hand to handle whatever may come our way for at least a year.  If you take into account our stocks and eventually no mortgage, we can live up to 3 years dead broke each month.  If you take into account our Roth IRA’s, my 401k, and what he has sitting in his pension account, we could technically have no income at all for 5 years and be okay but we’d be living on $2000-$2500 a month.  That isn’t happy but bringing in nothing for 5 years isn’t very realistic either.

By our calculations, we need to bring in $7000 a month to pay for taxes, benefits, and still live on our current budget (which will be updated for you soon).  To pay off our mortgage as planned and keep my stomach feeling happy, we’ve decided to shoot for $15,000 a month just to be on the safe side.  We’ll live on the $7000 and use the rest for the mortgage and a growing safety net. We are looking for the best mortgage lenders for refinancing to hopefully bring that monthly debt down.

Our Eggs in a Brand Spanking New Basket

So yes, all of our eggs are in one very new basket, but we wove that basket well.  I have created a growing business that I love and that hopefully shows.  My husband is fantastically detail-oriented and very intelligent, so with his help, this business will continue to grow, be able to expand even more, and we have always been able to handle more together anyway.  If we can keep up the current pace or set an even better one, we will be financially independent in 10 years or less.  That is an amazing feeling all by itself.  Who saw this coming?  I certainly didn’t.

Move over sanity, the Crystal train is coming through!  WOOT, WOOOOOOT!!!