BAM! Your Income is Decreasing by 33%…and You Want it to?

Matt over at One Million and Beyond is taking a big hit to his income. And, he’s happy with that.

One of my college professors once said that money is not a motivator. I didn’t believe it then, because I thought money made the world go round. Now that I’ve grown up a bit…I understand what he meant and I think it’s true. I think Matt would probably agree with my professor’s statement as well.

I’ll have a few more comments about this later when I have more time, but in the meantime check out Matt’s story.

Posted by Tricia on December 4, 2006 at 2:25 PM in Making Money | 6 Comments »
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Matt responded:
Posted: December 4th, 2006 at 3:10 pm
Hey Tricia, thanks for the link… happiness is worth more than the money. I agree with your prof. to a point… money is a motivator, but by no means the most important one it only becomes one when none of the others are at issue.
SCapitalist responded:
Posted: December 5th, 2006 at 10:38 am
I agree with this post. Money is not everything in life, and it certainly isn’t a great motivator. My household recently took a large hit in our monthly income. My fiance stepped into the teaching profession, and stepped WAY down in pay. However, she now loves what she does, is happier than I have ever seen her at work, and is being recognized for her effort. Was it worth it? You bet!
Hazygrey responded:
Posted: December 5th, 2006 at 3:47 pm
I have a well paid job that is stressful and has long hours. My dream is to find a job that I like, manageable stress level and is under 50 hours a week. I’d be willing to take a 50% cut for that…though not just now, maybe in a couple of years when I’m done with student loans and I have a downpayment saved.
Sara responded:
Posted: December 5th, 2006 at 7:32 pm
We did just that about five years ago. We had a 2.5 year old and a one month old when my husband decided that he was ready to follow his dream and was surprised that I said go for it. We moved into a smaller house, closer to his new job, so he was able to make his vehicle last longer and made other adjustments. Too bad we didn’t plan for the increase in family size, who came with health problems and lots of medical bills! Seriously, though, that job change was the best thing that ever happened to us. My husband is a MUCH happier person with the job he has now, and that makes us a happier family overall! And we love the 1/2 mile commute (that alone gave us 2.5 more hours a day with him and lowered his stress level immensely!) I’d do it all over again if faced with it, and encourage all to follow their dreams!
Mike responded:
Posted: December 7th, 2006 at 9:14 am
Money is clearly and definitely a motivator.

It just isn’t the only (or even most important) one.
Terry responded:
Posted: December 8th, 2006 at 3:51 pm
I earn my state minimum wage, which is indexed yearly to CPI. My job is fairly secure (24-hour busy downtown convenience store with only one employee per shift, i.e. my job can’t be reduced to a half-time employee.

The job and the pay suck bigtime, but it’s unlikely my income will crash.