Being Wealthy is Only a Feeling

by MoneyNing · 13 comments

Even the worst possible news can lay the foundation for a positive future.

“It’s all in your head”, as someone wise once told me. There are always two sides of the coin, and always another way to look at something. Consider the following examples.

  • Workaholic or Responsible – Some people work day and night, and many consider them workaholics. But I was speaking with a gentlemen yesterday about why he works so hard, and he told me that he vows to provide as much financial support for his family as possible. It may cut into time he spends with his family, but at least they don’t have to worry about money.

    Is he a workaholic, or is he just responsible?

  • Lazy or Clever – This one is dear to my heart. For years, everyone keeps reminding me how lazy I am. Yet, this character flaw has a minor benefit. Due to this “laziness”, I am always thinking about ways to be more efficient every day. I may not succeed all the time, but I keep trying and it helps once in a while.

  • Taking Advantage or Creating Harmony – I’m extremely lucky in that I’m well loved within the family. (My parents especially. Thank you Mommy and Daddy!) and they would go to great lengths to help me.

    When they are doing something for me, the whole family seems to have a happier mood than normal in the whole process. I’m having difficulty illustrating this in words, as it’s almost magical. Yet, it’s very apparent to everyone who knows us.

    If I were to ask my family for help, am I taking advantage or am I just creating harmony?

  • Saver or Spender – If I told you that someone’s credit card bill is $10,000 this month. Is that person a saver or spender? Now, what if I told you that he made $100,000 this month, and all his expenses are on his credit card? $10,000 is a huge amount of money, but saving 90% is AWESOME. (This deserves capital letters, don’t you think?)

We Know All This, So What

For some of you, there will come a time when you are no longer earning more money than you spend. At that point, living beyond your means will have a whole new meaning. A few of you will have the confidence that everything will work out, but many of you will not.

If you are afraid, first understand that you aren’t alone. No matter how much money you have left, seeing a decreasing balance is always scary. It’s okay to have doubts, and the only solution is through planning and knowledge. The more you know, the less you worry.

Even if the worst case scenario plays out, tons of people are living happily without much money. It’s really all in your head.

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{ 13 comments… read them below or add one }

George January 14, 2010 at 7:19 am

I think workaholics are lazy. Lazy in their thinking.

In this culture “hard working” is regarded as a wonderful character trait. But I am not so sure if it is really that wonderful. I think if people stop working to think about how they can work more effectively, they can increase their work output by a factor of 2, 3, 5, or 10.

Case in point: the 4-Hour Workweek. Have you read it? I am like you, more lazy. But I think it is still possible to achieve wonderful things. It’s more important to choose something worth doing, and find effective ways of doing it, than just working long hours.

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MoneyNing January 14, 2010 at 8:55 am

I haven’t read the 4 hour workweek, but I’ve heard great things. I believe it’s difficult to achieve efficiency in a standard 9-5 type job, because you aren’t rewarded for it. With a job, the faster you get tasks done, the more is shoved your way and the longer hours you end up working.

If anything, I would suggest most people to work their day job and have a side business, where they really work on their efficiency. Some people may even find that having a second income will give them added confidence to perform better at their primary jobs too.

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Craig January 14, 2010 at 8:19 am

Basically everyone has different situations and you can’t judge or fully understand unless you are in their shoes.

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Carl Grace January 14, 2010 at 8:39 am

I think workaholics either have good intentions or are rationalizing their behavior. Oftentimes, workaholics are in a salaried position and therefore do not earn more by working extra hours. Sure, all professionals need to put in some free overtime to get the job done now and then, but I have met many people who think of their job as some kind of crusade. These people are easily taken advantage of by their employers.

We all (especially in technology) have met people with no outside interests or hobbies besides their work. This is probably not healthy. Like many have said before, no person on their deathbed says “I wish I spent more time at the office”.

As for providing for their families. That is a good goal. If the family is struggling to make ends meet, this may be the best, but unfortunate decision. But, many workaholics I know live above their means, or could make different choices. My father was not a workaholic, but I can say that among my friends with workaholic dads, they would have preferred to have their dad around to watch them grow up then to give them private school tuition or a new Nintendo set.

My point is, sometimes it is unavoidable, but in my experience most workaholics I know are not being responsible. They may think they are, but they aren’t.

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MoneyNing January 14, 2010 at 9:03 am

Well said. I wish more companies would offer programs outside of work so their employees have a more balanced life. I bet it will create a happier mood, and everything gets done at a quicker pace too.

On another note…

For everyone who is reading this and wished they don’t have to work overtime without compensation, consider finding a similar job at a different company.

I find that, more often than not, the overtime mentality is largely on either the supervisor or the company itself, so if you aren’t making more but is being unfairly treated, brush up your resume!

The economy is bad, but there are still employers who are hiring.

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Carl Grace January 14, 2010 at 9:34 am

I guess it depends on your industry, David. I have worked at three companies in electronic design in my career (two in Orange County, one outside the State), and while some were better than others, it is clear to me that the companies depend on free overtime in their business plans. The schedules are simply too aggressive to complete with 40 hour weeks, given the staffing levels!

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MoneyNing January 14, 2010 at 9:50 am

Most try to squeeze their employees these days (especially the small companies). If you can’t find a good company that treats their employees right in your industry, try another.

For example, cell phone manufacturers might have insane hours, but printer companies might not. You can still be in the same field but in a totally different industry.

I know people in the electronic design field that work 8 hours a day and no more, while I know others who work 18 hour days constantly.

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Cd Phi January 14, 2010 at 8:42 am

I totally agree with you, Craig. Some workaholics may just have to work that much so that they can make enough money to support their family. Certain situations call for different attitudes/adjustments that must be made to fully adapt to the environment.

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marci January 14, 2010 at 10:35 am

Having “enough” is a different level for all of us.
Each person needs to find their “enough” level at some point in their life.
And then ENJOY!
For me, under $20,000 is still “more than enough”… and I live well.
And Time – the older one gets – seems way more important than money anymore!

I think for each ’season’ of your life there is a different level of ‘enough’…
And yes – it’s all about attitude – and it IS all in your head – and your heart!
Enjoy!

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Robert January 14, 2010 at 10:41 am

“If I told you that someone’s credit card bill is $10,000 this month. Is that person a saver or spender? Now, what if I told you that he made $100,000 this month, and all his expenses are on his credit card? $10,000 is a huge amount of money, but saving 90% is AWESOME. (This deserves capital letters, don’t you think?)”

Saving 90% is better than awesome. It’s….well, it’s super awesome!

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John DeFlumeri Jr January 14, 2010 at 5:32 pm

Working smart is better than just working hard. If you want something done fast, have your laziest man do it.

John DeFlumeri Jr

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MoneyReasons January 14, 2010 at 5:42 pm

Wealth is relative once you get past the basic needs (food, shelter, clothing). Unless your Bill Gates or Warren Buffet, there is always someone more rich than you are and someone more poor than you are.

Try to make as much money as you can while still enjoying life!!!

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Moneymonk January 29, 2010 at 12:37 pm

Good response Money Reasons.

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