Comments on: Can You Be Too Addicted to Earning Money?

By: GetSomeSavings

GetSomeSavings — Sat, 22 Aug 2015 11:43:33 +0000

Is the sky the limit? I hope it’s not!
The younger we are the more money means to us. It ‘s hard to resist extra cash when your main goal is not defined. Once you have it, it ‘s easier to say no to extra work if it doesn’t add any value which would be in line with the goal.

The flip side is that money is the only goal for some (many?) of us. Is it good? It doesn’t work for me (now… it used to work in the past :) ). Everyone makes the choice and as long as he/she doesn’t harm others, no one should be allowed to criticise it

By: Gen Y Finance Guy

Gen Y Finance Guy — Tue, 17 Feb 2015 22:08:36 +0000

I agree that there is a delicate balance. I recently had to fire my side clients in order to make time for my fitness and time to build my own community at my blog. Although the money was great, making an extra $1,500/month. My fitness was suffering. And in all reality the business was not scalable, it was just another opportunity to trade time for dollars.

But it served its purpose. I got paid to learn internet marketing and other things that I will use to build my own online business, that starts with the blog.

You will know when you push yourself to an extreme. Other areas of your life will begin to suffer.

For me the new focus to make sure I maintain something close to balance is to focus my energy on activities that have the ability to scale. Something that I can put effort into once and reap rewards over and over again. A perfect example is investing money into dividend paying stocks or investment real estate.

But there is of course the chicken and egg problem. Things take money, so as Erin wrote in the post if you are working hard for a certain financial goal, just make sure you pull back on the throttle once you reach that goal.

At the end of the day I think it is important to remember that there is a season for everything. But realize that no one season stay around all year round.

Cheers!

By: Erin @ Journey to Saving

Erin @ Journey to Saving — Tue, 27 Jan 2015 19:53:19 +0000

Beachbudget I would totally take a yoga class with you. =) In all seriousness, I agree – especially on undervaluing yourself. I’ve been reflecting on this lately and it really comes down to what your free-time is worth, and how much you need to make. While I have my student loan debt to be considerate of, sacrificing all my time in favor of working is…not working! The income is great, but when I find myself longing to get away from the computer, I know it’s time to cut back.

By: Erin @ Journey to Saving

Erin @ Journey to Saving — Tue, 27 Jan 2015 19:50:56 +0000

Holly at ClubThrifty Well said, Holly. The loss of free-time can be a serious consequence, though, especially if you’re not careful and put work above family or giving yourself some breathing room.

By: Beachbudget

Beachbudget — Tue, 27 Jan 2015 14:59:56 +0000

I’ve never had this problem. I don’t know if it’s because I’m a Libra or what, but if I do not have balance in my life I fall apart. I’m very sensitive to imbalance (I think my true calling might be yoga instructor-lol). I think when you say yes to everything as well, even table scraps, you undervalue yourself. Now I’m not saying if you are in serious debt and about to be thrown on the street that you should be picky and choosy, but if you CAN at all be picky and choosy, do it. YOLO doesn’t just mean spend lots of money on trips, it means what it means. You only live once, and if you don’t find time to take care of your health, family, friends, etc. life will pass you by and all you would have said you did is work. Can you tell I feel strongly about this? :)

By: Holly at ClubThrifty

Holly at ClubThrifty — Tue, 27 Jan 2015 13:19:19 +0000

It is really hard for me to put limits on my work now that I am self-employed. I’m not necessarily addicted to the money, but I am addicted to saying “yes.” The problem with this addiction is that there are few consequences aside from the loss of free time. Like you said, more work = more money when you are self-employed.

By: Erin @ Journey to Saving

Erin @ Journey to Saving — Tue, 27 Jan 2015 04:22:40 +0000

EmbracingSimple It is definitely a common rookie mistake. Starting from nothing and wanting that success can be detrimental if we don’t keep it in check! I’m glad to hear you’ve worked past it. I think that taking on such a variety of work has helped me figure out what I want to do as well!