Time vs. Money: When to trade DOWN
October 05th, 2012 - 65 Comments
When I graduated from college, I had a job offer from Google. They were great, saying, “You’ve been in school for 5 years…you should take a break!” I was like, “Oh I know, I was already planning it.”
Google: “So how long do you need? 2 weeks?”
Me: “Uh, no. See you in 3 months.”
Google: “That’s not gonna work for us…how about 4 weeks?”
Me: “No, I’ve been in school for 5 years. I love you but I need a break. See you in 3 months.”
During that time, I launched a product called PBwiki with a friend, which ended up taking off. Over the next couple months, I agonized over whether to turn down Google or walk away from this new startup.
I ended up walking away from Google.
One of the things that surprised some of my friends was walking away from that kind of money. It was a lot! Especially for a young kid. But I knew I had more important things than money…and if I made the right decisions and met the right people, I could earn that much in a month…or even a day.
Yet it surprised some people, since in our culture, we’re naturally conditioned to think MORE = BETTER. That’s not always true.
That’s why I love today’s “Ask Ramit” question: Helena wants to know if she should take a lower-paying job if it dramatically cuts her commute.
When would someone take a pay cut on PURPOSE?
Watch to see my thoughts…and as you do, see if there are areas in your life where “trading down” would actually make sense for you.
QUESTION FOR YOU: What’s one area where you could do with LESS? (Don’t just say “eating out” since you know you’re not going to stop eating out. What else?) Leave a comment below.
My friend, a perpetual Manhattan bachelor, just got into a relationship with a sweet girl. So naturally, we invited them ...Read More
One of my students asked this amazing question, and I loved it so much that I want to share it ...Read More