Keeping your overhead low is one valuable lesson I’ve learned over the years. Low overhead gives you flexibility and margin in the event of an unexpected situation. Resist the temptation to spend more with every financial increase. Having liquidity (aka cash money in the bank) gives you options and the ability to negotiate better. Cutting things too close are a situation (or two or three) waiting to happen.
My suggestion for those with high overhead is to simply cut back or downsize. Some might need to cut your losses. Don’t let emotions and fear keep you from truly moving forward. Don’t look the part! Be the part! It might hit the ego for a moment but in the end it will save your sanity and bank account. .