Give Me Back My Five Bucks

There’s more to life than just money

Note: Sorry in advance, this is a long and rambling post. :)

Balancing actGMBMFB was one of the first personal finance blogs in Canada. Back in 2007, you could count the number of PF bloggers on one hand. I had a lot to work on financially, and this tiny community helped me out enormously. My life has changed a lot in the last 9 years, but this blog has remained constant. I love that I’ve been able to make friends with other bloggers and readers, as well as create a freelance career that I never thought was possible.

About a year ago I couldn’t help but realize that my life had become easy – I was making a comfortable salary, I was on track to retire early, and I was able to travel a lot. This was what I had been working on for years – ever since I started this blog. So I didn’t feel like I needed more. And because I didn’t need more, I had a hard time writing about all of the things I used to write about – like increasing my networth or finding new ways to earn and save money. Life was on autopilot and my finances didn’t motivate me like they used to. So I took a step back from this blog and stopped writing – promising myself that once I figured out what I wanted to write about, I’d come back. But one month turned into six months, and before I knew it, I had stopped writing consistently for more than a year.

Over the last couple of months, I’ve been thinking about personal finance and blogging again, but from a different perspective. Even though I don’t make a lot of money compared to others, I feel really good about where I am and I know my financial situation is solid. My income is enough to keep me on track to achieve all of the goals that I’ve set out for myself. There are still so many paths that my life could take me, so I’m trying to be flexible and open to everything. Maybe one day I’ll be married. Maybe one day I’ll have kids. Maybe one day I’ll own a home again. Or maybe none of that will happen, and 20 years from now I’ll be happily renting a tiny home and living my life just as it is. Whatever happens, I feel like my current salary could support it.

I’ll be the first to admit that I don’t have it all figured out yet, but that’s what makes life fun. I’ve stopped comparing my life to others, and have learned to enjoy what I have. Earning more money isn’t a priority anymore… which is a weird feeling. And the thought has definitely crossed my mind that perhaps I’ve become lazy, or I’m just not ambitious enough anymore, or I’m not acknowledging my full potential by not pursuing the highest possible income every year. But there’s more to life than just money, and it’s taken me a long time to get here financially as well as emotionally.

Almost all of us have heard about that study by Princeton University researchers where they found the salary sweet spot was $75,000. I’ve been earning around $75,000 since 2011, but I’m a lot happier now than I was back then. In 2011, I had to really fight for that money. I often found myself working 70+ hour weeks, and was constantly stressed out with deadlines on top of my full-time job. Life was messy. Sure, I had the income sweet spot, but where was my quality of life?

After I came back from Germany, I told myself I was never going back to working crazy hours, even if it meant taking a pay cut. And I’ve stayed true to that goal. As I enter into 2016, I find myself working 45 hours/week at the very most, and I predict my salary will be around $80-90k for the year. This is a significant change in the quality of my life, and it’s what I’ve been working towards for years – an income level that is comfortable and sustainable.

There are still a lot of financial goals I’d like to achieve (like becoming a more savvy investor). I’ll still write my monthly budgets for this blog, and I’m still going to make financial goals for myself every year. I aspire to do well at my full-time job, and I’ll pursue freelance opportunities (with a work smarter/not harder attitude). The difference now is that my motivation isn’t driven by making more money anymore. As long as I’m achieving all of my financial goals, my only other goals are to be comfortable and happy.

TL;DR – My new financial goals don’t involve increasing my income anymore. :)

Author: Krystal Yee

I’m a personal finance blogger and marketing professional based in Vancouver. I’m a former Toronto Star (Moneyville) columnist, author of The Beginner’s Guide to Saving and Investing, and co-founder of the Canadian Personal Finance Conference. When I’m not working, you can usually find me running, climbing, playing field hockey, or plotting my next adventure.


Comments

  1. jolie says:

    I have been one of your readers since almost the beginning. I have appreciated your viewpoint as you have grown and changed in who you are and what kind of life makes you happy. Thank you for all the great reads.

  2. Jill says:

    thanks for sharing all that you’ve had to share with us :)

  3. Marlon says:

    I really appreciate all the time you’ve put into writing about your journey and the incredible insight into being comfortable with what you have :) I think that should be the end goal for us all, even if it’s a much lower than 75,000 a year salary. Way to go !

  4. Debtman says:

    Your site was one of the first personal finance blogs I read. Thanks for all of your posts!

  5. Peter says:

    hi Krystal

    What is a savvy investor in your opinion?

  6. I love reading your blog – even when you disappeared for awhile. ^_~

    It was one of the first blogs I discovered actually. And I’m in the PF game thanks to you and SaverSpender actually. As a reader and a friend, I’ve seen you and your blog grow and change. I agree that chasing after the dollar isn’t the most important thing. I think many PF bloggers forget that.

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