Would You Rather Work For Less Money Or More Money?

Would You Rather Work For Less Money Or More Money?Okay, the question in the title of this article isn’t as easy or even as clear as it sounds. I’m sure everyone would take a job for more money if there was nothing different between the two jobs.

My question today though is a little different.

Would you follow your passion if it meant you were to make less money? Or would you rather work in a position that you really hate so that you can earn more money?

When I decided on my college major, I decided on something that I thought would bring me to a corporate job so that I could make money. I really had nothing else on my mind. I thought having a “safe” major would make me happy enough in life.

Boy, was I wrong! Yes, I had a comfortable job, but I wasn’t happy.

After three years of working as a financial analyst, I knew it just wasn’t for me. Yes, even though I make a very comfortable income right now, my last job was much “safer.”

I was on track to become President at the company, I had a good salary, I received good benefits, and I knew the job and the company weren’t going anywhere.

However, even with all that safety, I wasn’t happy. Instead, I wanted something that I actually enjoyed. I also wanted to do something that would allow me to have a flexible schedule and do other things that I enjoy outside of work.

Even though I love working as a financial blogger and freelancer, I don’t think I could ever go back to a financial firm as an analyst (or any position at a firm). It’s just not what I enjoy. In fact, yesterday I received an email from a headhunter asking me if I would like to take a senior level position at a local financial firm (it’s a big firm with over 100 employees). I had to laugh and file the email away because even though they were offering a hefty salary and even a signup bonus, I knew I was not interested.

Not everyone is the same, and I know many people who are pursuing jobs with a higher income. I also know of many people who are pursuing jobs that they love that pay less.

Below are a few positives and negatives for each side of the argument.

 

Less money may mean a delay in reaching financial goals.

If your main goal right now is to pay off debt as quickly as you can, then you may be interested in working towards making as much money as you can. That may mean working a job you hate, working long hours, working multiple jobs, and so on.

When I wanted to get rid of my student loans as quickly as possible, I wasn’t interested in pursuing my passion. I was interested in eliminating my debt as quickly as possible so that my life could actually “begin” on my debt payoff date.

I was working 100 hour weeks for years. I was going to college, working my day job, and working my side hustles for what seemed like forever. In the end, it all paid off. Luckily, I didn’t have too much student loan debt, so I didn’t have to struggle for a very long time.

However, if you are interested in pursuing your passion, then it may mean that you have to delay your financial goals or even put them on hold. It may take you a little bit longer to reach your goal, but you have to weigh the positives and negatives and you may find it worthwhile (or not).

 

A lesser paying job may mean more time.

Following your passion can also mean that you take a job that allows you to pursue your passion in your free time. Even if it’s not a job that you absolutely love, you might decide to take a job for less money because you are able to pursue your passion outside of your normal work hours.

You might have more vacation time, a better and/or more flexible schedule, a less stressful job, or something else.

For me, I’m all about having a flexible schedule. That is one of the biggest positives for me of the freelancing that I do right now. I love freelancing, but I also love that it allows me to be in control of my day.

If I want to ride my bike on a beautiful trail at noon, I can. If I want to go out to lunch with my friends, I can. I am no longer bound by my work day.

 

Following your passion may mean that can’t retire until later. 

If you are wanting to retire quickly, then choosing a job with less money will not get you there as quickly. I’ve heard of many people taking a job that they absolutely hated, working it to death and then retiring very early.

I don’t think that route is for me, but I can understand why others would choose it. If you “only” have to suffer for a decade or two and then you get to have the time of your life, that would be very tempting.

If you decide to work your passion, you may find yourself working for much longer. Following your passion doesn’t always equal less money, but in many cases it does.

This leads to…

 

Would You Rather Work For Less Money Or More Money?

You may never have to work a day in your life though.

Following your passion might mean that you never actually work a day in your life.

If you truly love what you are doing, is it actually work? Or are you just having a great time?

Following your passion can be great because you are doing what you love to do, and you actually look forward to work. If you are going to spend one-third of your life working, then why not do something that you love?

 

What would you rather do? Take a job you hate for more money, or take a job you love for less money?

 

Images via Flickr by TaxRebate and donireewalker

 

Update: Nine Months of Being Self-Employed

Update- Nine Months of Being Self-EmployedMy last day at my day job was in the beginning of October of 2013.

That means it’s been around 9 months since I left my day job to pursue full-time freelancing.

It feels like it’s been much longer than nine months though. Time is flying by, but it also feels like it’s been forever since I drove to work and sat in my office unhappily for nine hours each day.

I still remember when I first told my employer that I was leaving. I was dreading the day. I was extremely nervous about what my bosses would say (in my head I was a complete wreck), and I kept saying to myself “Six months from now all of this will be long forgotten.”

Now, it’s been nine months and I haven’t looked back once. I still have no regrets and I am EXTREMELY happy with the decision I made.

Self-employment is still going very well. I am enjoying each and every single day. I enjoy waking up, working, having a flexible schedule, and everything else that has been going on.

Below is my update after being self-employed for nine months.

 

Not having a commute is still wonderful.

I don’t see this ever changing. Yes, I like car rides but I don’t like them when the end goal is to take me to a boring and stressful job.

Being able to just wake up and get straight to work is a great thing. Yes, this usually means that I stay in my pajamas for a good portion of the morning (hmmm maybe into the afternoons), but it’s nice to be able to complete so much work in the early mornings.

 

I’m still getting in more “socialization” even though I work from home.

When I decided to make the switch to working from home, many people seemed worried that I would be bored and lonely.

The truth has actually been the exact opposite.

When I had my day job, there was no talking whatsoever. It was extremely boring and not having a single office friend (I worked independently in a field filled with men who were 45 and older) got old really quick.

Now, I can see my friends and family during the day when they are off from work (I have too many nurse friends). I also talk to other bloggers and readers pretty much all day long as well.

 

The thought of unstable income.

The unstable income is something that still gets me every now and then. There are weeks where I will make hardly no money, and, of course, times like those can make a person nervous.

As a freelancer, I’m sure these slow weeks make most nervous because it almost feels like everything has dropped off the face of the earth.

 

Traveling and being location independent.

One big positive of self-employment for me is the fact that all I need in order to work is a laptop and an internet connection. This means that I can pretty much work from wherever I want.

I have been traveling a lot so far this summer (one week in Vegas, 2 weeks in Colorado, one week in the Caribbean), and I worked nearly the whole time as well. I just scheduled as much as I could ahead of time, and then I brought my laptop to complete tasks along the way as well.

I would like to become more location independent then this though. We have been thinking about taking a long hiking/camping trip where we would drop off our car someplace and hike on some amazing trail that is thousands of miles long (okay, maybe just hundreds of miles to start off with).

I’m just not sure how that would work though as I, of course, still need to work.

Any ideas? Or is this completely hopeless? Haha a girl can dream right?

 

I still enjoy freelancing.

When I publicly announced that I was making the switch, I had many people tell me that I would grow to hate freelancing. That has not been the case at all.

I still love freelancing, and I enjoy it more and more every day. It’s great to actually be my own boss. I love how everything I do affects my business and that I am actually growing a business of my own.

 

What else do you want to know about my nine months of being self-employed?

How is self-employment treating you?

 

How To Get A Cruise For Cheap Or Even FREE!

How To Get A Cruise For Cheap Or Even FREE!We’re on Day 3 of our cruise, and we are loving it. We still have 5 full days and nights left on our cruise. We have found that a cruise is a great way to have a true “vacation.”

You just hop on a ship (ahhh don’t call it a boat – people get mad! :) ), relax, eat and drink a lot, it takes you to ports, and it is just overall very relaxing. We have had a lot of fun so far just sitting on our balcony and watching the water.

Yes, I know, we are new to cruising but I have already learned so much.

I am the type of person who researches a vacation like crazy before going on it, so you can bet that I read cruising forums and articles for many, many days until I felt like I have been cruising several times before.

Since I told friends and family that we were going on a cruise, I have had many people ask me about the costs of going on one.

There are many different types of cruises out there. There are expensive round-the-world cruises, or there are cheap ones that are a few days long. There are interior rooms and then there are also large suites that are multiple floors. It all depends on you, where you want to go, and what you care about in a stateroom. Outside of the stateroom, all guests pretty much enjoy the same exact services, so the amount of money you spend all depends on what room you want to choose.

I have seen one night cruises for $50 per person and two night cruises for $99. I have also seen 3 and 4 day Caribbean cruises in an interior room go for $129 per person (yes, that includes food and basic drinks!), not including port fees or taxes. Depending on when you book, you may even be able to book a balcony room for just a few more dollars. If you do one or a combination of the options below, it could be easy to get your cruise for cheap or even near FREE. Who doesn’t like free?

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