How Badly Do You Want the Money?

Serious question. Most people reading this blog are interested in personal finance, budgeting, getting out of debt, or something of that sort. I'd say that most of the blogs I subscribe too are PF-related. And today's selection (along with some older ones) has raised that question for me.

If we're looking to get out of debt, one of the best ways to do that (besides cutting spending) is to make more money and put it towards repayment.

Money Makeover guru Dave Ramsey suggests that people take on a part-time job or two as part of their debt snowball. Other people work 50-60 hours per week to hang onto a high-paying job or get overtime. Some supplement their income with things like E-bay, Etsy, and the like. Some blog for money or participate in other online money-making ventures. Or write novels (which don't guarantee any return).

The trick is in finding balance. I don't think the part-time thing would work out for me. Mr. Micah and I are recently married; I think it's important to spend time together in the evenings, as we do. More importantly, perhaps, we suffer from depression so we need the mental health break.

On the other hand, the online options work better for me, since I love to write and blog.

Debt repayment is a tricky business, as is wealth accumulation. Sometimes the debt seems so overwhelming that we're willing to sacrifice happiness and even well-being for it. Whether by keeping a bad job, taking to many jobs, or just thinking about it too much. That sort of thing might work for a few months, maybe a year or two, but without breathing time, it's not worth it in the long run.

Here's how a number of bloggers reflect on earning money and the balancing act of having a happy life while working and paying off debt:

John, from Queercents, wonders if he sacrificed too much and reflects on what he would have done differently.

Nina, also from Queercents, writes on the art of simultaneous professions.

Kimber, of No Limits Ladies, explains the psychological earnings threshold and how she wishes she'd known about it sooner.

Plus an expose of the world of young magazine subscription sellers (NYT). Earning money really costs these young people!


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