How to Live Well if You Work in a Low Paying Field
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In Part 1, I responded to a reader who wondered Why I Freelance for pay well below my normal hourly rate of pay. I talked about a variety of satisfactions I get from educating others about personal finance and wealthy living.
In Part 3; How You Turned Your Passion Into Cash, others share success stories and welcome your input as well.
This question got me thinking about the millions of folks out there who are passionate about doing work that does
not pay well. These fields include acting, music, the arts, social work, community service, non profit work, lower pay administrative work, service jobs, restaurant work, retail sales, and many other jobs. In fact, there are probably more lower paying jobs than those that pay well.
Pay level satisfaction is impacted by your own perceptions. Many newly employed college grads, are thrilled to have a job at any pay grade!
I am certainly not imposing my personal values on whether your job is “well or poorly” paid. I’m offering suggestions to live wealthy, regardless of income.
You may be in a lower paying job, either by choice or by default. Here are some ideas about how to live well and build some wealth in spite of your pay grade.
Adjust your expectations; Forget how anyone else lives. I’ve been fortunate to travel the world. In most countries even the wealthy live in what we in North America would consider small apartments. No matter the size of your family, you do not need a large home. Scale back, live in a smaller home or apartment than you thought was comfortable. Add a roommate or two. You may be surprised at how little you really need. Want some privacy? Go to the library or for a walk.
Take public transportation; Although El Carino and I both have (old) cars, I take the train or walk whenever possible. Jennifer from Little House in the Valley rides miles on her bike.
Use your tax dollars; You pay for parks, libraries, free community art and theatre programs with your tax dollars. Get that money back by using those resources for your entertainment and enjoyment. There are tons of “free” events in most major cities, especially around the holidays.
Eat well and cheaply; Stick to a simple diet. Consider some vegetarian dishes spiced up to make flavorful and delicious. I love a meal of beans and rice. Make a big batch and freeze some for later. Buy in season fruits and vegetables. Go light on meat and prepackaged processed foods. You’ll be thinner and healthier as well.
Spend mindfully; Make it difficult to overspend, don’t spend your leisure time at the mall near temptation. Think before you spend and plan your shopping trips.
Save something, no matter the amount; Get in the habit of saving. Have a small amount transferred from each paycheck into a savings account.
Get out of debt; However you do it, you cannot live on less with debt! For debt help, read these recommendations from top personal finance bloggers; Consumerism Commentary, NoDebtMBA, Debt Sucks Blog, Debt Free by Thirty, Fat Guy; Skinny Wallet, and Money Help for Christians.
Enjoy what you have!
Make sure to read Part 1: Why I Freelance; How to Live Well When your Passion Doesn’t Pay Well.
And Part 3; How You Turned Your Passion Into Cash; be sure to chime in with your story.
image credit: Cuba Gallery
