Megan
What is it like to have a job that makes you happy but has very little income?
I'm worried that I'll spend more time worrying about financial issues than I will actually enjoying my job if I end up with a low income job. #general
3 answers
Aishwarya Balchander
Aishwarya’s Answer
What a great question! It seems like just about everyone who has ever addressed a graduating class of high school or college seniors has said “Do what you love, the money will follow.”
Inspiring. But it is true? Couldn’t you do what you truly care about and very well go broke, as the question above (recently sent from one of our readers) implies?
Based on the research we did for our book, we’re convinced that when you’re heading into the unknown, desire is all-important. You simply want to be doing something that you love, or something that is logically going to lead to something you love, in order to do your best work. That desire will make you more creative and more resourceful, and will help you get further faster.
And, it will help you persist. When you’re trying something that’s never been attempted before — beginning an unusual project at work, or trying to get a new business off the ground — you’re going to face a lot of obstacles. You don’t want to be giving up the first time you encounter one.
But, let’s be real. None of this guarantees wealth, or even financial success.
A friend of ours was hanging out at a bar with a few fellow professional musicians after a recording session, talking admiringly about another musician they all know. One of them commented on how fortunate it was for this musician that his music was commercial. In those four words, you will find an enormous truth. We all have our music and there is no guarantee that anyone will buy it. Absolutely none. These are two entirely separate things.
So this reader question attacks us straight on and says, in essence, “I have the desire, but I am pretty certain it’s not going to lead anywhere that’s monetarily profitable. Now what? Should I still go ahead?”
Of course you should.
If you can’t afford to do the thing you’re passionate about — for example, if you do it, you won’t be able to feed your family, or it would keep you from graduating college (which is something you think is more important than whatever you’re passionate about) — then no, you’d better not bet your economic life on it. A basic principle concerning how you should deal with an unknown future is that every small smart step you take should leave you alive to take the next step. So, make sure you attend to your lower order Maslow needs of food and shelter and the like.
But even this doesn’t mean you can’t work on your passion a little — even if it’s just for 15 minutes a day.
Jeff Ayers
Jeff’s Answer
Dan Wolf
Dan’s Answer
If you like your job and the money is enough for you to have a standard of living that you are comfortable with then you should have a wonderful life. I.e. able to do what you need and want to do.
If you are not making enough money to live comfortably then the financial struggles will likely detract from your job satisfaction.
Many people feel they have to spend a lot of money to be happy however there are also happy people who do not feel the need to spend lavishly. Learning to be frugal can give you sense of comfort and confidence knowing that you have enough money to meet your needs.
Money doesn't necessarily make you happy, although having sufficient money will make it easier to be happy by allowing you to better address the factors identified above.
In summary:
1) Not having enough money for your basic needs and wants could be a problem.
2) Having enough money makes it easier to address negative events in your life as well as allowing you time and resources to follow your interests.
3) Learning to maintain a standard of living (i.e spending habits) that agrees with your income is really important.
This was a very interesting question!