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Does Your Career Affect Your Lifestyle or Vice Versa?

linkedHere’s a story we’ve been told our whole life:

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You choose a career.
You get a job.
It pays the bills.
Life is good.
You live happily ever after.
If you’re lucky. Because …

If you’re lucky, you love your job.
If you’re lucky, your work is stimulating.
If you’re lucky, there is room for growth in your chosen career. 
If you’re lucky, you earn enough from your job to support your desired lifestyle.
If you’re lucky, your job also affords you time to enjoy the fruits of your labor.
If you’re lucky, you realize that luck is only a small part of all of these things.

As the old saying goes, “It’s better to be lucky than smart.”

Lifestyle costs affect career decisions
However, smart decisions often increase your chances of getting lucky. And who doesn’t like to get lucky?

You get a job to support your lifestyle. But how does your lifestyle affect your career?

  • If the costs of your lifestyle put too much of a demand on how much you have to make, you may have to take a job that you don’t love just to pay for your lifestyle.
  • If your lifestyle consumes every penny you make, you may have to jump at the first offer that comes along instead of being able to select the job that fits you best.
  • You may have to take a job that takes up all of your time. You have no time to do anything else including things you love to do or spending time with people you love.

Find harmony between the two
The two are completely interdependent. Your career choices affect your lifestyle. That’s certainly true. But the piece that’s missing is that your lifestyle also affects your career decisions.

In other words, how you spend your money may determine how you earn money.

Bigg success is life on your own terms. The five elements of bigg success are money, time, growth, work and play. The bigg idea behind bigg success is that there is synergy between these five elements.

You are the entrepreneur of your life. It’s implicit in our definition of bigg success. You and you alone are in charge. Successful entrepreneurs understand that their business finances and their personal finances are linked.

Their business has to make enough money support them. But that’s only half the story. They also have to be careful that they don’t put too much of a burden on the business with their personal financial decisions.

Even if you aren’t an entrepreneur in the traditional sense, it’s helpful if you see yourself in business for yourself. You may have just one customer – your employer. Your lifestyle affects your career and your career affects your lifestyle. Find the harmony between them and you’ll find bigg success!

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Thanks for reading our post today. Please join us next time when we discuss the one thing you need to face challenges with confidence. Until then, here’s to your bigg success!

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The Trap That Keeps You from being Financially Free

money_trapYou’re probably familiar with the old saying, “Be careful what you wish for because you might just get it.”

Bigg success is life on your own terms. The terms we use to define our bigg success are incredibly important.

When we get what we wished for, it better be what we really wanted!

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For example, we may seek financial security. How do you define financial security? Is that what you really want? Or is there a better term for what you seek? Are your actions consistent with your definition?

These are a few of the questions you might ask about a term which is a goal.

Financial security

Financial security means safety. You have a refuge from any storm. This is the reason a lot of people like having a regular job. They feel like it gives them some sense of security.

We often confuse financial security with financial stability. One of the reasons we like that job is it provides a steady income. That’s not security; it’s stability.

This highlights the importance of understanding what a term really means to you.

Does a job or a career offer you financial security? We think it doesn’t.

You have to create financial security for yourself. But that’s just the first level. You may really want more than just safety.

Financial independence

You may seek financial independence. You want to be self-reliant. You don’t want to depend on anyone or anything to meet your financial needs.

You’re able to live a comfortable life. You may have a job but you also have investments or other sources of income in case something happens with your career.

Financial freedom

The next step up is financial freedom. You’re free to live the life you really want to live. Your income exceeds your lifestyle costs by a significant margin.

The trap that keeps people from financial freedom

Randy Jones, author of a book we highly recommend to you, The Richest Man in Town, wrote about the trap that keeps many people from reaching financial freedom on his blog a while back. He said:

A stable salary can be addictive: like a drug, it feels good, helps you cope with the ups and downs of life, and it is very hard to give up. But dependence on a salary is a major impediment to becoming the richest person in town. The regular fix of a paycheck from the other guy makes you risk-averse, and the ability to take risks is one of the qualities that defines an RMIT.”

So if you want to be free from money worries, you have to take risks. Risk is the opposite of security. But you have to take those risks to reach the level of financial freedom.

And by our definitions, a person who reaches the level of financial freedom is also financially secure … and then some.

No job can make you financially secure. No business can do it. No investment can do it. You have to do it by putting all the pieces together.

It starts by defining bigg success and then going for it!

You’ve heard our terms for money. What are your terms?

Share that by leaving a comment below, e-mailing us at bigginfo@biggsuccess.com or calling us at 888.455.BIGG (2444).

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Get the tips and tools you need to be a BIGG success.
Subscribe to the Bigg Success Weekly – it’s FREE!

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Thanks so much for the gift of your time today. Please join us next time when we talk about an old-fashioned tool that increases your productivity. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

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Direct link to The Bigg Success Show audio file:
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Simply Living Simply

simple_houseBigg success is life on your own terms. Today we’ll focus on money, one of the five elements of bigg success. There’s a tendency to define bigg success as having more money.

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But is it possible to have too much money?

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georgeI remember Donald Trump being asked about the difference between $70 million and $700 million. He said, “A bigger boat.”

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marylynn
Some people don’t need a bigger boat. Other people don’t need a boat at all!

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georgeThat reminds me of something one of my mentors once said, “There are two good days in the life of a boat owner. The day you buy it and the day you sell it!”

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marylynnToys are the fun side of money. It’s the side we usually think about. But more money also means more responsibilities – more legal issues, more accounting hassles, more management headaches even if it’s just managing your portfolio.

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A lot of people think you can just hire someone to do those things for you, but you have to be careful how much you delegate. No one will look out for your money like you will.

A simple choice

While our society often seems to equate bigg success with bigg money, it’s important to determine what you want. Bigg success is life on your own terms. Live the life that makes you the happiest.

For some people, there is such a thing as too much money. They choose a different path to bigg success.

We can reduce this to a simple choice:

  • adjust your lifestyle to your wealth or …
  • … accumulate enough wealth to support your lifestyle.

Now don’t think it’s a rags or riches mentality. You don’t have to live like a pauper if you choose to adjust your lifestyle.

Many people are perfectly content simply living simply, but comfortably. They have a nice house, drive nice cars, and take nice vacations. Of course, you get to define nice.
 

Simply pick your number

Let’s look at the difference between these two choices. First, let’s say you can live life on your own terms with an income of $100,000 a year. Financial planners tell us we can draw down our portfolio at the rate of 4% a year when we retire. So that means you would need $2.5 million of assets to support your lifestyle.

Now, what would it take if you wanted to live large? We hear a $250,000 a year income is now considered “rich” here in the States. So let’s use that as the magic number.

Then you would need a portfolio of $6.25 million.

Quite a difference, huh? You don’t have to stress about accumulating such a large portfolio if you adjust your lifestyle to your wealth.

Some people enjoy a higher quality of life by choosing to simply live simply yet comfortably.

They worry about money less because they have less money.

It’s life on your own terms. You pick the path that makes you the happiest. That’s bigg success!

What about you? Are you happy living simply or do you want to accumulate wealth?

Share that with us by leaving a comment below, calling us at 888.455.BIGG (2444) or e-mailing us at bigginfo@biggsuccess.com.

Thanks so much for simply spending your time with us today!

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Would you like more tips and tools to live your life on your own terms?
Subscribe to the Bigg Success Weekly – it’s FREE!

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Please join us next time when we’ll talk about the one-minute layoff. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00436-071409.mp3

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Who is More Accident Prone – Men or Women?

accident Statistics Canada, Canada’s national statistics agency, released a report on work injuries [PDF] a while back. There were a few things we found interesting. While four percent of all workers experienced some sort of work place injury over the past year, only two percent of the women had. So guys got hurt disproportionately to gals.

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You might hypothesize that perhaps men perform riskier tasks, on average, than women. However, the research showed that men have a higher rate of injury across all job categories.

Can women work harder?

Another point of interest was that, compared to men working less than 35 hours a week, men who work eighty hours a week or more were twice as likely to get injured. Men were forty percent more likely to get hurt if they worked between 45 and 79 hours.

It makes sense, doesn’t it? The more someone works, the more tired they are and the more likely they are to harm themselves somehow. Sounds good, except that it didn’t hold true for women. There was no noticeable difference among women based on the number of hours worked.

Women who worked more than one job experienced more injuries than women who only had one job. There was no difference for men. Finally, we found one in the men’s favor!

Why do we work so much?

Seriously, though, we see that whether we look at hours worked or number of jobs, there is evidence to show that chance of harm increases.

So we wonder: Why do we work so many hours? Why do we need more than one job? In many cases, it’s because of money issues. Might we be better off looking at our budget? Would we better served by adjusting our lifestyles? Then we might not have to work so much and we might not get hurt as much.

More hours. More jobs. Still a lack of money. No extra time. More stress. All of these come into play together.

Speaking of play

Here’s another thing we found very interesting in this report. Only 28% of all “activity-limiting injuries” occurred at work. Now think about that. We spend about half of our waking hours at work, if not more. Yet nearly three-fourths of the accidents that keep us from working happen in our personal lives. What in the world are we doing at home?

The study says that most accidents that occur at work are hand injuries and lower back strain. We don’t know what the accidents are away from work. Are we straining ourselves too much at home?

Maybe instead of a “honey do” list, we should start a “honey don’t” list! 

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Get the tips and tools you need to be a BIGG success!
Subscribe to the Bigg Success Weekly – it’s FREE!

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Check in next time as we discuss how your estimates of future costs should affect your current decisions. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00265-111408.mp3

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Is Convenience Busting Your Budget?

I Need a Day Off

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Is Convenience Busting Your Budget?

time-money The good people at CareerBuilder recently posted the results of a survey of workers. Forty-seven percent of the people surveyed said they “always” or “usually” live paycheck to paycheck.

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Does more money help?

One way to stop living paycheck to paycheck is to make more money. Forty-two percent said an additional $500 each month would help make ends meet.  Fourteen percent already work more than one job.

The amount of money that comes into a household does make a difference, but not as much as you might think. Twenty-one percent with salaries of $100,000 or more said they also live from payday to payday.

We’re working ourselves to death instead of thinking about the other solution to the more month than money problem. We need to look at our lifestyle. We’re so busy trying to make more money to support our lifestyle that we end up spending money we wouldn’t need to spend if we just slowed down and honestly assessed our situation.

Convenience expenses

We’re so busy that we spend more money on “convenience expenses”. We define convenience expenses as the premium we pay for goods and services because we don’t have time.

So we end up in a downward spiral – we work more to have more, but then we
spend more and we don’t have any time to figure out how to do anything differently.

One example of a convenience expense is that we eat out more than we plan to. An appointment runs long. We get stuck in a traffic jam. The boss needs to talk. The next thing you know it’s late. Now we feel we have no choice. We’ve hit that wall. We’re hungry now! We’re too tired to do anything but grab some carry-out or order delivery.

Cutting back

It may seem like a small expense, but it eats away at your budget (pun intended). If you’re feeling like we’ve described you perfectly, don’t feel like you’re alone. We’re right there with you! Here are some ways we’ve found to cut back on this convenience expense:

Always stock some food that’s easy to stick in the oven or microwave.

Then if you’re running late, you can have less expensive convenience food. Plus you’ll save the time of stopping or running out for carry-out.

Plan for leftovers

If our next week’s schedule looks busy, we’ll cook up a little extra food on the weekend so we have leftovers which can be nuked in a matter of minutes. These leftovers are also an excellent way to save money on going out for lunch. There are more productive ways to spend a lunch hour than driving back and forth.

Invest time today to save money tomorrow

By planning next week’s meals, you can find coupons for the items you want to purchase. It’s like printing money legally as we learned from Crissy Thompson, who often spends as little as $10 a week to feed her family of five.

You can also think about where you shop. They’re called “convenience stores” for a reason! We pay a price to be able to run into the store and grab something on our way home.

This is just one example of the many convenience expenses. If you’re living payday to payday or not saving as much as you would like, think about your convenience expenses and the time / money interplay.

There is a huge trade-off between time and money. If you have money,
you can save time. If you don’t have money, it’s important to really
 think about how you’re using your time and try to save money.

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You can get the tips and tools you need to be a bigg success
Subscribing to the Bigg Success Weekly! It’s conveniently e-mailed to you once a week. And it doesn’t cost you any money! But the time you spend reading it will help you make and save money! How’s that for a deal?

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Next time, we’ll discuss how to create wealth in today’s new economy. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Direct link to The Bigg Success Show audio file:
http://media.libsyn.com/media/biggsuccess/00261-111008.mp3

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