Monday, October 11, 2010

Thoughts on Underearning

My roomy will (hopefully) be getting a new job soon. Its something she's passionate about and at a place she's volunteered for ages. The only problem is this will be her only source of income and will therefor be the least amount of money she has made. I did a quick number crunch number and realized after the main expenses are knocked out she would still have a substantial amount of money left over (intentionally vague to keep you guys from hitting her up for loans).

I asked what she needed so much money for?

I've been thinking about underearning a lot lately. As I keep blogging, I was laid off last year and have turned to freelancing as a means of making money without commuting. I make enough to pay all the bills and visit my drugstores but am not saving as much as I did in prior years.

Of course the Roth is fine and I think I'm putting a few hundred into savings a month. I don't want for food, clothing or shelter. Past Anny would be shocked to know I am so lax about my saving and even unsure of how much is set aside but I've learned to be more relaxed about finances.

Although part of me wonders why I should need to work more in order to save more.

When I worked full-time with all of my side gigs I saved a ton of money but did not have the time or energy to enjoy it. I'd come home from work and either work or cook and then collapse.

What is worth sacrificing myself now in order to save for in the future?
  • I don't plan to own a house although I would love to rent where I could garden.
  • I never had children.
  • I don't have outstanding bills or loans.
  • I don't foresee a major change in lifestyle which would call for my needing more money.
My financial raft has been set afloat and is directionless. I feel societal pressure to take advantage of these years so I can loaf later but I'm secretly convinced I can just loaf always. So then I feel guilty about that and fret some more.


FB @ said...

I feel somewhat the same. Everything on automation and I am not too keen on saving so much now to live a grand life later when I am too old to enjoy it

I'd rather spend the money now within reason and see where things go. It's nice to have a plan but to be flexible as well