Last week, I read an article on regarding the Top 10 Careers that top $30 an hour, and made me realize two things:
- I expected some of these careers/jobs to be paid more.
- I’ve personally hit this mark myself as well, but I thought I would be better off financially or more comfortable.
Although the article reads generically and offers a mean hourly wage for the career and most likely a median salary as well, it got me thinking. In a certain sense, I felt proud that I hit this point in my career, basically doubling my salary since graduating college; but I also felt disappointed and a bit let down.
Perhaps I need to be better at financing or realize I can do more with less and control my spending. However, I don’t believe I am a big spender or impulse buyer. Heck, both my cars are paid off in full. Perhaps, groceries and eating out is costing much more than I think. I completely cut out my night life routines so there is no spending at clubs, bars, etc. In honesty, I thought I would be much more comfortable such as having more in savings, being able to afford a vacation out of States like go on a cruise or to some tropical destination. I would think I could afford to lease or buy a nice automobile like a BMW or Lexus. Even to have some cash to invest in a stock portfolio as well.
Sure there are some things missing from my life but then again, the same can be said of others as well. I also watch others and see their career progress, whether I know them or not. I find it strikingly hard to believe the type of cars some drive and homes they rent and living lavishly. I wonder how much credit card debt or just overall debt period do they owe. Another one is exactly how much expenses do they have? I am fairly certain we share similar expenses and income. Unless we all secretly have a second job to help pay such luxuries I witness from them or they are extraordinarily lucky to have rich relatives that help support them as well.
Perhaps life is credit; or so it seems. Every business operates on credit and good faith that they will eventually generate enough revenue to pay back what they owe and profit a little. So I guess it should be alright to owe $40,000 to drive a BMW because I need to project a particular type of image in order to operate my business, right? Whether my business is a real estate agent, a wannabe actor, an aspiring musican artist, etc. Perhaps…
In the end, I will choose the path to control my expenses with a clear budget and set financial goals one step at a time. Whether it be for retirement, for a vacation or just for a rainy day. I rather not owe or generate a debt just so I can project a lifestyle I really cannot afford. So what if I make $30 or more an hour; I still can’t afford that BMW or Lexus!
What is your income and do you feel comfortable? How do you control your expenses and do you keep track with a budget? Share your opinions with me. Thanks.