Women’s Personal Finance Wednesdays – Week 18
1. The Life-Changing Magic of Downgrading Your Phone Jennifer T Chan
Downgrading a cell phone seems like such a minor act, and yet I wonder how many people actually go that route – not simply sticking with what they currently have, but actually going backwards. In a society where the expectation is to want to upgrade whenever an upgrade is possible, the intention to do the opposite is a bigger deal than it seems on its face. Hedonic adaptation is a sneaky thing, and we don’t notice the slow creep over time. Arresting that and creating a new baseline can really change the narrative.
Jennifer’s new phone is four versions old, and the same one I have. I knew it wasn’t brand new, but I didn’t realize there were four iterations beyond it. I know myself though, and I’m not sure I would go through the effort of downgrading, so I do another version of this and never upgrade – much like our “starter home.” And if I can blog on this phone, it’s probably good enough.
So much of what we hear in the financial independence space is about how we need to ruthlessly decrease our expenses and that more money is never the key to happiness. While I understand the principal of the concept, there are SO MANY instances when having more money is actually the way to happiness. Perhaps only someone who hasn’t had to attempt to scrape together an impossible amount of money can’t understand the difference.
There are so many expenses that DON’T lead to happiness and instead to stress and possibly more debt, but that doesn’t mean there aren’t at least as many situations where money actually creates more happiness. In this case in particular, I can’t think of a better way to spend that money – $12,000 to be exact.
3. How To Effectively Ask For A Raise (From Someone Who’s Done It Twice) Financial Mechanic via The Luxe Strategist
Well. I would love this to be required reading for anyone applying for their first job (as well as anyone else who is planning to continue working in a traditional job for any amount of time). I was so impressed by this thoughtful, thorough game plan on how to effectively ask for a raise.
I’ve personally only asked for a raise once, and while I was successful, I wish I’d had this post in front of me six months ahead of time because she’s got a way better handle on this than I do even now. If only I was this together at 26 (or even now would be great). If you do anything today, go read this. And then send it on to a friend to read as well.