Should You Take the Cut?
Here’s a reader question we’ve gotten more than once, one that will likely never go out of style:
Should I take a pay cut to have a more enjoyable work experience?
While we don’t have an answer in the traditional sense of the word, we do have prompts and questions to help you consider and arrive at the best answer for you.
⚠️ Before you dive in: An aside about the illogical nature of personal finance.
Money is objectively countable, and yet, it is subjectively and relatively perceived. The meanings we attach to money vary widely. What “security” means varies widely, as does the level we each equate with optimal happiness.
Criteria the experts have identified in attempts to better define financial security (“feeling in control” or “flexibility to make choices,” for example) are ruled by individual personality, experiences, and perceptions. Even cognitive scientists, who aim to demystify such matters, have found it challenging to define and understand the psychology behind saving and investing behaviors.
Why are we telling you all this? To empower you to trust and accept your own instincts and preferences, regardless of the advice you read and hear. A salary that’s fine for you may seem way too low to someone else, but you’re the one living with it.
⬇ Read on to our next section for question prompts.