We often get caught up in the idea of making more money. While almost no one will mind having a little extra cash each month, the reality is that earning money costs us in other parts of our lives. Time, for instance, is an finite resource we often give up just to get more into our wallets.
Is more money always worth having less time for everything else? What about the freedom and flexibility that having more time will offer? How do you value those?
I know for certain that I value freedom and flexibility more than I value money. I’m willing to make less money if I can improve my quality of life.
Freedom and Flexibility
Freedom and flexibility are the two most important items for me in my life. I like to be able to set my schedule, work on different days, and have the flexibility to engage in other pursuits that I find worthwhile. This includes being involved in my community and spending time with my son.
Since moving to Idaho, I’ve been able to cut back on work a little bit. Yes, I am building my investment portfolio and looking for other ways to build passive income, but at the same time, I’ve also cut back on the amount of paid work I do. Charging higher rates helped, but a lot of it has to do with moving to an area with a lower cost of living, and wanting to be involved in a number of different projects.
Being willing to work less, and get by with less money, allows me a little more freedom and flexibility. As long as I have enough to live comfortably and prepare for the future, I’m not too picky about making a huge fortune. In fact, there are plenty of other things I’d like to do with my time and energy, and just having more money doesn’t matter that much to me.
How about you? What do you value?
Quality of Your Work Life
I’m not alone in valuing the quality of my work life. I like the freedom and flexibility of my work, and I like that it gives me a chance to feel as though I am doing good and fulfilling a purpose. Others feel the same way, especially people younger than me. According to a a study from Fidelity, Millennials are willing to take an average pay cut of $7,600 if it means that they can enjoy better work life, including things like career development, purposeful work, and a good work/life balance.
I’ve long been willing to make less money if it means that I can better balance my life with my work, or work on projects that I’m passionate about. It also helps that the costs of living in the area I’m in is cheaper, and…