Be Careful How Much You Pay For Your Money
A few years ago one of my friends shared a job posting with me and asked me if I knew anyone who might be a good fit. The job posting included the compensation, which was very high. I jokingly told her, “With that compensation I might be interested.” She responded, “As my mother always says, ‘Be careful how much you pay for your money.’” I had never heard that sentiment said that way and I really like it because it makes so much sense.
Be careful how much you pay for your money.
I love transformation stories about people who decided that they were “paying” too much for their money and changed their lives. I’ll share a few examples to demonstrate the point but it’s important to note that each of these people could have just as easily decided that they were not paying too much for their money and stayed the course. The important point is:
Every person gets to decide what is important
to him or her at any given point in time.
In making these types of decisions each person evaluates the sacrifice being made relative to the benefit or reward being experienced. This is a personal decision that should not be judged by others. Right vs. wrong and good vs. bad are measured relative to one's values. Values are personal and often reflect what an individual had or did not have growing up and what type of life the person wants as an adult.
Consider for instance co-workers John and Bob. Both are 40 years old and have the same job that requires frequent business travel. John and Bob are both married and both have 2 children who happen to be the same ages – 6 and 8 years old. While their adult lives look very similar from the outside looking in, their childhoods have led them to have different values in terms of their roles in their families.
John decided that he would rather not be on the road so much as he missed being home for his kids’ events, dinner, helping with homework and tucking his kids into bed in person. Ultimately, John and his wife decided that he would change jobs so that he would no longer have to travel even though it meant that he would have to take a decrease in pay and they would have to make some financial sacrifices.
Bob also recognized and acknowledged that he missed being home for his kids’ events, dinner and bedtime rituals but he and his spouse decided that the sacrifice was worth it because Bob’s job paid him enough that they could afford to send their children to private school and allow them to participate in various extracurricular activities and camps throughout the year.
Whether John or Bob made the “right” decision is a question that only they can answer. Here are a few examples of other people who decided they were paying too much for their money and ultimately made changes:
- An attorney who was miserable for years as he convinced himself that he had to continue practicing law in order to pay off his crazy high student loans left the practice of law and opened a bakery.
- Another attorney who had convinced herself that she had to continue practicing law lest people think she couldn’t hack it eventually decided her life is her life. She quit her job as an attorney and went to work for a legal research and information company.
- A mother, who dreamed of going back to school but felt guilty because doing so would require her family to make some financial sacrifices and share in some of the household responsibilities she had handled for years, decided that her desire to pursue her dream outweighed her unearned guilt.
- A highly compensated man who worked for a company that required him to behave in a way that was not consistent with his values decided that he would rather make less money and be able to sleep at night.
With time and a commitment to being open to looking at their situations in a different way, each of these people ultimately decided they were paying too much for their money and they created more fulfilling outcomes.
Remember each person gets to decide what is important to him or her at any given point in time.
How much are you paying for your money?
In order to answer this question, evaluate the sacrifice(s) you are making relative to the benefit you're experiencing. This is a personal decision so answer the question without considering what others want for you or from you. After all, there are only 1,440 minutes in each day you are given and when one day comes to an end it is gone forever. Your life is the culmination of how you use the 1,440 minutes you are given each day. Your life is your life. How do you want to use it?
The choice is yours.
- Lisa Johnson
