We all experience trade-offs. One of the most significant ones is time and money. If we have money, we can use it to buy services that give us more time. Another trade-off is status and money.
___
Hear George & Mary-Lynn talk about today's post on The Bigg Success Show! Click the purple player: Play Now | Play in Popup | Download
Hear George & Mary-Lynn talk about today's post on The Bigg Success Show! Click the purple player: Play Now | Play in Popup | Download___
Status at work
We may ask our boss for more money, but he or she tells us that it’s not in the budget. So instead, we’re offered a title – it gives us more credibility but it doesn’t line our coffers.
___
When I was starting out in my radio career, I helped out quite a bit in the production department putting together commercials. I eventually became the go-to person when the production director wasn’t available. When I asked for more money, I was told it wasn’t in the budget but they gave me the title of Assistant Production Director. This helped me negotiate for a higher salary when I left for a different market.
___
So sometimes the title can lead to more money. If that’s the case, great! But we need to go into it with eyes wide open because status without money usually doesn’t do us much good in the short- or long-run. We may have to work more hours because of our new title. We may be held more responsible. So we have to weigh the benefits.
Bringing it home
We also often fall into the status trap personally. We buy things, such as cars or houses that we don’t really need or want. We do it to keep up with our friends and neighbors.
___
Two of my friends are best friends. They don’t do this anymore but, when they were first starting out, it was almost comical to watch them compete with each other. One bought a new car; within a month or so the other got a new car. One of them bought a new house; the next thing you knew the other one had his house on the market and was buying a new one. One got married; soon the other was engaged. One had a kid; soon the other one was an expectant father!
___
The point is to recognize when you’re about to do something solely to increase your status. It may hurt you financially! Which means, in the long run, you’ll have less status than you would like.
It’s funny … what often keeps us from getting rich is acting like we’re rich before we are rich!
___
| Get the tips and tools you need to be a BIGG success. Subscribe to the Bigg Success Weekly – it’s FREE! |
|---|
___
Next time, we’ll discuss one more thing to add to your schedule to keep you on schedule. Until then, here’s to your bigg success!
Subscribe to The Bigg Success Show in iTunes.
Subscribe to the Bigg Success feed.
Related posts
Getting Aggressively Passive: Creating A Passive Income That Sets You Free
6 Easy Steps To Financial Freedom
(Image by Jayded74)
Shhhh! You have to read this quietly. We’re at the library!
