Job Security vs. Independence, Yakezie Round Up, Uncommon Money News
|August 31, 2010||Posted by Roshawn Watson under Uncategorized|
By: Roshawn Watson
Study hard, get good grades, and get a nice secure job is the mantra that’s continually reiterated as the “right path.” This is what we are taught to aspire to from our youth. There is certainly nothing inherently wrong with job security in that we should all strive to be indispensable regardless of employment status. However, I believe our emphasis is misplaced. All to often, we will focus more on job security than financial independence.
It is so easy to become trapped by the need of job security because most people are one of two paychecks away from financial ruin. Indeed, a whopping 61% of Americans live paycheck to paycheck. People are so conditioned to being trapped that they no longer understand what freedom even tastes like. Felix Dennis, one of the richest men in the U.K., referred to to this conditioning. He wrote receiving a regular paycheck is similar to using crack cocaine. Are you addicted to your paycheck? Of course, the primary reason so many people are at the financial brink is debt: student loans, car loans, and credit cards. Sure there will always be ways to rationalize how they got into the mess, but we can concern ourselves with that at another time.What is important is that their debt restricts their choices, hence they are trapped and financially needy. Personally, I feel debt is the ultimately form of arrogance. In taking on debt, one makes arrogant assumptions about his future financial solvency. However, life happens. Sickness, a missed bonus, or a job loss could quickly push a whopping 61% of American over the proverbial financial cliff. With globalization, one’s job loss could easily not be his fault…just business.
Consider some key points about debt-freedom.
- Debt-freedom gives you choices. I believe this liberation enriches your soul in ways that are indescribable.
- Debt-freedom is hardly a panacea. There are problems no matter whether you have debt or not.
- Debt-freedom is vastly different from financial independence. A homeless person can be legally debt-free but does not have an enviable financial position. However, there is a clear and significant inverse relationship with your consumer debt load and your level wealth that is worth your consideration.
- Debt-freedom takes work to achieve. Those who expect to reap the blessings of freedom, must, like men, undergo the fatigue of supporting it. ~Thomas Paine
If debt is the reason you are in fear of losing your job, don’t cling to job security without addressing the underlying financial problems. Take the plunge. Decide today to eliminate your debt. Begin to see the purpose of work as more than meeting a financial need because its meaning can go infinitely beyond financial provision. Visualize a world where you no longer need a paycheck. That will likely mark the contextual change in your thinking that will lead you to financial independence.
Thought Question: What is the biggest threat to financial independence in your mind?
Now, it’s time to do the weekly Uncommon Money News and Yakezie Round Up.
Uncommon Money News and Yakezie Round Up
In preparing to write my posts, I often come across noteworthy and sometimes bizarre financial and business news. Below are links to some of these sites. Enjoy!
This week I participated in 4 carnivals:
- Carnival of Financial Planning at Intelligent Speculator
- Yakezie Carnival: The Next Challenge Edition atCool to Be Frugal
- Festival of Frugality at Canadian Finance Blog
- Carnival of Personal Finance at Budgeting The Fun Stuff
Included posts: The Rich Don’t Need The Rest of America, My Big, Fat Trashy Home: The Fall of the McMansion, Is extreme frugality for you?, Economists Blame ME for the Slow Recovery, Why Is Debt Really Decreasing?
Thank you Time Magazine for including me amongst your money blog recommendations!
Also, I am honored that Is extreme frugality for you? was included in Wisebread’sBest Money Tips Ways To Teach Kids About Music, Family Balance Sheet’s Odd and End, and Move to Portugal’s Link Love; Blog Carnival Edition round ups.
Joe and I also did much discussing about My Big, Fat Trashy Home: The Fall of the McMansion and he was kind enough to include it in his Retirement Lane Roundup round up at Joe Taxpayer.
In Barbara Friedberg’s No brainer money management for college students, she did a mini Yakezie Round Up and included Watson Inc. Thanks!!!
To my readers: I am so honored by your support. Thank you for reading, subscribing, and for voting for articles from this site on social bookmarketing sites such as stumbleupon, reddit, delicious, digg, propeller, twitter, and yahoo buzz. Together, we are telling thousands of the importance of financial literacy. I absolutely could not do it without you. You are vital this this site, and I appreciate your! Thank you sincerely
Posts Of The Week
Is Facebook Now ‘Worth $33 Billion
Housing news continues to dominate the economic headlines
Low prices and rates can’t slow fall in home sales and Home Sales Plunge 27 pct. To Lowest in 15 Years
Entertainment Money News
Been bombarded with images of Vampires lately? Me too, from the Rolling Stone cover to the small screen and movie theaters, these undead creatures are everywhere!
Vampires Suck Us Dry: Why the Sexy Beasts Are Making Billions
Recently release actress and sometimes singer, Lindsay Lohan, on the hook for $40K a Week for UCLA
Did Avatar Just Flop? Movie critic Joel Ryan thinks so
Free Ways To Teach Your Kids About Music at Wisebread
Do Dividends Matter? at Joe Taxpayer
Small Business Owners Fire Employees Before Tax Hikes at Financial Samurai (Bury your politics before you read)
Lawn Care to Treat or Not To Treat at Family Balance Sheet
Copyright 2012, Roshawn Watson, Pharm.D., Ph.D. All Rights Reserved.