How to move closer to your dreams while paying your bills: five simple steps

Is your job something you do to survive, while you constantly dream of a different life? Frances Cook outlines the steps to take to move toward what you want, realistically.

If you’ve ever scrolled through job listings, sighed, and thought “none of this fits,” you’re not alone.

At least, certainly not in the current job market. Unemployment is currently at 5.2% and “under-utilisation” even higher – that is, those people who technically have a job, but not as much work as they’d like, and it’s not really covering the bills. Think part-time workers or contractors who need more hours. That’s all the way up to 12.8% of New Zealanders, and shoots up to 21.4% when you look at the 20-24 age group (according to Stats NZ reporting on the June 2025 quarter).

That means plenty of New Zealanders are stuck between two realities right now; stuck in work that doesn’t pay enough to live well, while probably nursing a dream of doing something different which feels too risky to try.

Maybe you’re working in the media, when you’d really rather be podcasting or writing books. Maybe you’re slaving in the kitchen of a franchised restaurant, when your dream is to start your own catering business. Whatever it is, there’s a gap between what you want to be doing and what you're required to be doing each day.

But here’s the good news. You don’t have to quit your job tomorrow, sell everything you own, and go “all in” on your passion.

There’s a smarter, calmer middle ground, where you build a financial runway before taking off.

And it starts with numbers, not vibes.

Most important is understanding your bare-bones cost of staying alive.

Forget pie graphs and fancy budgets. You’re not designing the perfect financial life here. Instead you’re working out the minimum monthly amount that covers rent, food, transport, insurance, and a bit of buffer for those unplanned “life happens” moments.

If you’re younger, frankly, this can be made a little easier. You might be ready to live cheaply by flatting in a larger shared house, or eating very basic meals.

If you’ve got a family, it may be more complicated. But it’s still worth looking at the reality of the situation, what you could cut if you needed to, and what you can’t.

After that, it’s time to decide how much work you’d need in order to cover those minimum expenses. If you can hunt out a part-time or contract job that covers that amount, that’s your safety net that lets you dedicate the rest of your work time to building something of your own.

Knowing that figure turns your dream into a math problem. And math problems are solvable.

Extra income is useful. But extra time is freedom.

Sometimes the trick isn’t to earn more, or save more. It’s about looking for where your money will make the biggest impact, and focusing your efforts there.

That might mean staying in your current job a bit longer to stockpile savings. Or picking up a flexible part-time contract to keep bills covered while you build your side project.

Every bit of breathing space you create buys time, and time is the currency that lets you think clearly, make better decisions, and take smart risks instead of desperate ones.

It’s not about giving up small joys or policing every coffee. It’s about protecting your mental space so you can focus on what’s next, not just what’s due.

It’s also the difference between being forced back into a job you hate because rent’s due, and being able to say “no thanks, I’ve got a plan.”

A side hustle could create a new job that replaces your old one. Awesome.

But that doesn’t have to be the goal at first. First, the goal is to test.

Test if there’s real demand for your idea. Test if you even enjoy doing it once it stops being a hobby. Test whether you can handle the admin, tax returns, and endless emails without wanting to cry.

You can do all of that part-time.

In fact, the smartest entrepreneurs often start their businesses while employed. They use someone else’s payroll to keep the lights on while they figure out what works.

It’s not glamorous. But it’s safe, and safety buys creativity.

If the new project makes consistent income for several months in a row, then it’s time to think about whether you can turn it into a real job that you rely on.

Until then, think of it as a financial prototype.

Multiple income streams sound great until your accounts look like spaghetti.

Keep things clean. Open a separate account for business income and tax. Set up automatic transfers on payday, such as 30 percent to tax, 10 percent to savings, and a buffer account for extra bills like ACC or insurance.

If the freelance income is lumpy, pretend you’re your own payroll department and “pay” yourself the same amount each fortnight. Consistency keeps your budget calm.

And for anyone using a home office, remember: you can claim a portion of your power, phone, and internet as business expenses.

Tools like Hnry can help work out tax deductions for side hustlers who don’t want to live in a spreadsheet.

There’s a fine line between ambition and self-destruction.

Keeping a regular job while working on the exit plan in your down time can help financially, but it’s going to be a juggle time-wise.

If your side hustle starts costing you sleep, health, or relationships, that’s not building freedom. That’s trading one boss for another.

Even one set “no-work” night a week can stop the spiral.

Remember: you’re building something to make life better, not smaller.

Still, it’s a way to build stability on your own terms, instead of waiting for someone else to hand it to you, in a world where work is changing and no stability is guaranteed.

The content of this column is general in nature and should not be read as personal financial advice.