Saving/Earning

[rockundergirl]

I don't know if this is a question so much as it is a statement.
I wonder why we all talk about how to save money so much, but not how to earn more money. It seems like the best way to improve anyone's lifestyle/comfort would be to earn more income.
I think I'm going to change my thinking a little, don't get me wrong I do ok and all. But I wonder if I took all the time I spend trying to get a deal/ budget a vacation/ shopping around for everything I buy etc, and instead took classes towards new certifications ( I work in tech)... what would happen ?

 

[GoldieSaysMeep]

Honestly? Not to discourage you but you'd probably just end up having to pay for the classes and not see a significant increase in income. Not these days. Probably not for a long time.

People talk more about saving because earning more is not easy in most professions. Also, earning more often comes with more stress, more hours spent in the office and less time for leisure.

 

[MissBritt]

what was that 90s song about the more money you come across, the more problems you see...?

looking at our nation's trends and habits in regards to spending, i think the majority of people would spend more if they made more.

 

[Disneefun]

Earning more is great, but only up to a point. Most people tend to spend up to what they earn, so earning more doesn't necessarily mean you'll be better off in terms of net worth. You may have more stuff, but unless you are disciplined to save, it won't change your overall picture.

Saving is talked about so often because it's often easier and doesn't come with the stress that earning more often does. Earning more also often comes with expenses: Classes, lunches out, new wardrobe, longer commute, child care, etc. etc. All of that will eat into any extra income you make, so you'd better make sure you're earning enough to offset those expenses, otherwise you're gaining nothing.

Plus, anything you earn will be taxable income, whereas savings are "tax free." If you can cut $100 from your budget every month, you get that money free and clear. If you earn an extra $100 per month, you really only get probably $70 or so.

Now, if you're living hand to mouth or you have a boatload of debt to pay off, earning more may be the only (and better) choice. But for many people, simply cutting out the waste in their budgets will net them a better financial future.

 

[rockundergirl]

what was that 90s song about the more money you come across, the more problems you see...?

looking at our nation's trends and habits in regards to spending, i think the majority of people would spend more if they made more.

Yeah , lol
Well I guess what I'm saying is I want to spend more. I want more lux in my life if that makes sense?

 

[tfoley427]

OP, That's a great idea. However, Goldie does make a good point. Your raise most likely won't offset the costs of your certification tests for atleast a few years. But that doesn't mean don't do it. I totally agree that working more/harder/smarter is the way to go. Saving is an extremely important thing to do in these economic times. You can't spend your days sitting there trying to save a dollar or two though in my opinion. Maybe ask for a weekend shift, or an extra few hours.

What I did a few years ago to help my fiancee and I get out of debt was deal at poker games. I love poker, however, being an actual player wasn't the best way to save/earn extra money because of the down swings. My friends would host tournaments amongst themselves (no outsiders) and I told them I would deal for $50 dollars a night. They were happy with that. So I would make about $100 a weekend doing something I loved.

I also found ebay to be extremely helpful. When I was a kid WWF Hasbro Wrestling Figures were one of my most favorite toys. Come to find out there is a huge market for them on ebay. So I went upstairs at my parents house found all my old figures and began to sell them. I sold one figure for about $70 dollars (Dusty Rhodes). I then bought more and more figures and resold them. That also helped.

There are so many ways to make money in this world but a lot of people have fear to do it. Who can blame them though. This economy is frightening.

 

[QVCshopper]

I don't know. My BIL is a dentist. Good career, right? Well, he also bar tends, teaches at a dental school, and works for the army fixing soldiers teeth. And for what? To afford his rather lavish lifestyle, including three new luxury cars in the past five years (he keeps trading up I guess). I would bet a ton that DH and I have a lot more money saved them him, simply because we live differently. We definitely make less, have kids, etc., but when it comes down to it, how you spend your money really makes a difference.

That said, I think making extra cash like a previous poster did with poker is a good way to get more income without changing your life too much. What about all of those people who go broke after winning the lotto? Too much of a good thing? And what about those stories of the couples who never made much but were millionaires? Making more doesn't mean you'll have more. Just my honest opinion.

 

[QVCshopper]

Yeah , lol
Well I guess what I'm saying is I want to spend more. I want more lux in my life if that makes sense?

I would look at luxury items differently. I wanted Uggs, so I got two pairs of camo ones for less than the price of one pair of solid colored ones, I guess because no one wants camo. But who cares? Uggs are Uggs. I have lots of lux items, have always stayed at lux hotels, but use Priceline and special deals. Honestly, lux doesn't mean better. My BIL lux cars have broken down twice on the NJ turnpike, including his Porche and Audi. My Hondas? Not yet, lol!

I tell me kids to be happy with what you have. If we were all just happy, this world would be a different place.

 

[okeydokey]

If you don't have enough money, you can cut stuff or you can earn more. I agree, you can only cut so much. Earning more is the way to go.

 

[leadfootlevi]

Getting new certifications doesn't always mean you'll earn more. Will your current job automatically give you a raise if you complete a course and/or get a degree? No companies that I've worked for would do this. It seems to me, that once a company has you working for them at $x they have very little incentive to offer you $x+y. I would have to get a new job at a different company to get a significant pay raise. Even a promotion doesn't net that much more, additional income.

 

[Marionnette]

I think that the reason that cost-cutting is discussed more than earning money is that not everyone has the same earning capabilities. We can all use tips on how to get a discount on tickets or even how to make the most of our grocery dollars.

But we're a very diverse group when it comes to earning abilities. Continuing ed might be worth it to you. But for some others, it's necessary in order to maintain a license. Treading water, so to speak. Or going to school is out of the question for some people, either due to cost or the lack of free time to do so.

You do see some discussions here about reward programs and jobs that you can work from home. But with the employment situation being what it is, the availability of those work from home jobs isn't very good. And the rewards programs have their own board where they are talked about more. So I guess that's why you don't see them discussed as often.

Good luck with those tech certifications. Even if they don't increase your wages, they will make you more marketable. And in today's economy, that means a lot.

 

[rockundergirl]

Getting new certifications doesn't always mean you'll earn more. Will your current job automatically give you a raise if you complete a course and/or get a degree? No companies that I've worked for would do this. It seems to me, that once a company has you working for them at $x they have very little incentive to offer you $x+y. I would have to get a new job at a different company to get a significant pay raise. Even a promotion doesn't net that much more, additional income.

Well I have my main job , and then my side work I do. The more skilled I am at my side work ( ie getting certs, or taking classes) the more jobs I can get. Just to shed some light on what I was thinking.

 

[leadfootlevi]

Well I have my main job , and then my side work I do. The more skilled I am at my side work ( ie getting certs, or taking classes) the more jobs I can get. Just to shed some light on what I was thinking.

In that case, most definitely go for it!

I wish I had the time to work a side job.

 

[Swimalie]

My husband and I are constantly talking about what he can do to get ahead at work. He works for the govt so he needs to stand out in order to get ahead. Now, his office is under a reduction of force under the new budget and 13 people will be let go or moved. My husband is looking at being put in to a created position to keep him at the office because he's become valuable at his office. This new position, we know, will help him get promotions in the future. So not only to we talk savings but we are always talking about advancement.

 

[cglaura]

Well around here, jobs are scarce. There was one listing in the paper today. Welder. Not even retail stores are hiring. They are filled. Anything with training or certification is good, but you are going to have to move from here to find work. Some people don't have that option due to whatever reason.

So sometimes, saving is the only option until you can improve the earning part.

In the summer jobs will pick up, we are a tourist town. If you find a good one, and save, then it can carry you over the winter. But if you find yourself suddenly looking for employment, then you're kind of up against a wall.

I'm very fortunate I've been in the same employment for 16 years. I've supplemented it over time with side work and odd jobs, like cleaning, etc. But my main income has been steady.

 

[My2BabiesLexis&Dill]

Going back to school wouldn't help me in my current job position to get a pay increase. I've been trying to get a part time job but no luck yet. I would like to earn some extra money for vacation and extra spending money or to pay more towards my bills.

 

[hoffmann2828]

I actually do agree that getting additional certifications is wise. While it may not lead to an immediate increase in pay, it could boil down to KEEPING the current job you have if they do start laying people off. Showing you are keeping up with certifications, etc. will show people you care about your profession. So, in this economy, no, you might not get a raise, but yes, you might keep your job longer perhaps than someone else. When the economy improves...then you might be able to realize more income.

And, I think the OP's main point isn't just continuing education, but getting out there and doing SOMETHING. If you want an extra couple hundred dollars a month, instead of milking a turnip, find a way to earn additional money. While I don't agree that everyone can and should find a "part-time" job, there is still ways to earn side money!

 

[DisneyKobi]

You go for it girl!

I'll give you an example. I paid just $2000 (myself) because I wanted a Webmaster certification. My boss found out and recommended me for the job creating and managing the corporate website. In two short years, I DOUBLED my income -- all due to the fact that I took it upon myself to educate myself further.

Now...at my advanced age (56) I'm graduating with a new MBA in May of this year. ALL paid for myself. You'd better believe I'm going to get a newer, better higher-paid job. Or, even do highly paid consulting.

Point is. If you have more and better qualifications than the next guy or gal, you are at an advantage in the job market.

Go for it!!!!!!!

 

[Anthony1971]

Getting a higher degree never hurts.. however it is up to you to seek out the higher paying job as it most likely not be handed to you at graduation.....
The other part is simple
you can make 200,000.00 and have nothing as you pay retail for everything and eat and drink the best etc.
you can make 100,000.00 and have your mortgage paid in full no car loans and eat at Olive Grden with a coupon
The choice is individual and what one gets pleaure from may not be the same as the other... If driving a BMW puts a smile on your face and a honda makes you unhappy drive the BMW IF you make enough to pay for it!
Money in the bank is just a number to some and to others it is security and peace of mind.

 

[luvdisney00]

Everyone's situation is different, but sometimes making more money or getting a side job can lead to paying more taxes. You can end up working more hrs for the same or even less money.