A frugal fable. . . . .

In keeping with my current thoughts about the definition of success in my life (more money, or more time?) I'm reading a great book right now, entitled "Beating the Success Trap: Negotiating for the Life You Really Want and the Rewards You Deserve", by Ed Brodow. I just wanted to share a fable that is included in the beginning of the book:

"A businessman is vacationing in a sleepy fishing village in Maine. He meets a local fisherman who is docking his small boat, which contains a few fat fish. The business admires the man's haul of the day and asks how long it took to catch.

'Oh, a couple of hours', is the reply.

'Why didn't you stay out longer and catch more fish'?

'Because I already have enough to feed my family.'

'Well', the businessman continues, 'what do you do with the rest of your time'?

'I sleep late, play with my kids, make love to my wife, walk into town every night where I have a glass of wine and play cards with my buddies.'

The businessman hands him his card. 'I'm a business consultant. I can help you out. You need to spend more time fishing. Then you could sell off the extra fish and buy a bigger boat with the money. With the income from the bigger boat, you could buy several more boats. If you play your cards right, eventually you could have a fleet of fishing boats and your own cannery. You could then move to New York where you would be able to oversee your growing operation.'

'How long will all this take?' the fisherman asks.

'Twenty years.'

'Then what?'

'Then you would go public and sell your stock for millions.'

'Then what?'

'Then you would be able to retire. You could move to a small fishing village where you could afford to sleep late, fish a little, play with your kids, make love to your wife, and play cards with your buddies every night."

Wow. I mentioned before how I often come across the perfect article (or book!) when I'm trying to figure out something difficult or serious. This gives me something to think about---continue my frugal ways, live simply (no more fish than I can possibly eat) and enjoy my time now, or work long and hard, strive for more money, and enjoy it all at a point somewhere in the distant future?

Frugal exercise. . .

I've noticed a subtle thickening around my waist and hips, over the past six months or so. My doctor says that some weight gain is normal as women age, a comment I'm trying to ignore. It's probably no coincidence that this began around the time I terminated my gym membership while simultaneously beginning to socialize more (meaning, I eat---and drink---"out" more than I used to). I certainly don't want to spend any more money on a new---larger---wardrobe, so what's a gal to do when she's trying to budget AND lose some weight?

In the summer, it's not been difficult to get myself down to the track for a run---free exercise! And yesterday, I spent a grueling few hours in the front yard making a dent in the weeds that have suddenly sprung from the earth. I probably did the equivalent of a hundred lunges and squats yesterday, just pulling, gathering, and depositing in the green waste can.

Now, though, I'm starting to worry about fall and winter, when it's literally dark when I get home from work, meaning I can't just run down the street to the (unlit) track, let alone run on the paths in Mt. Tabor park. Is it better for me to spend the $35 a month on a gym membership, to avoid having to spend more money on better fitting clothing?

At this point, I'm saving money on food, since I'm trying to eat smaller portions, with more fresh fruits and vegetables, rather than the tons of pasta, rice, and noodles I generally eat. I'm also cutting back on my alcohol consumption, which is saving me a pretty penny. But I'm still not debt-free (I still owe $1800 to my credit card), and I wanted to use the gym membership as a 'reward' of sorts, when I was able to finally close that card out.

Although I haven't yet decided on the winter gym membership question, here are some habits I can develop now, to help me save money on exercise:

• Use free weights; I actually already have these, in 2 lb and 8 lb (ouch!) weights. All I need to do is get into the habit of using them regularly.
• Utilize the internet. There are actually short 'podcasts', or online videos, that go through exercise routines that I can do at home.
• Buy a jump-rope. Even if I can't run (and I LOVE running), using a jump-rope might give me the same cardio workout, possibly in less time. And it's CHEAP!
• Check out an exercise DVD from the library. It might be fun to check out a different DVD every week, so I have some variety in my exercise routines.

So there it is. There may be some alternatives to restarting my gym membership; at the very least, I'm going to give it a shot and see how I feel.

Benefits of a frugal salary. . . .

Or, more appropriately, the drawbacks of a large paycheck. On Wednesday, I wrote about the constant battle I wage within myself, trying to decide whether it would be better for me to seek a higher-paying job, or whether I should continue to pursue a frugal lifestyle that will eventually allow me to pay off my debt and live more simply (with the added benefit of having more flexibility and leisure time). It's a tough call, and one that I think many of us struggle with.

Often, when I write a blog post about some question I'm grappling with, I come across the perfect article within a few days, which helps me to see things in a different light. This is exactly what happened today!

While perusing the CNN website (reading about the awful plane crash in Spain), I came across a piece from CareerBuilder.com that discusses the drawbacks of having a larger-than-average salary! If I ever needed to know that making a lot of money isn't all butterflies and sunbeams, it's now. Here's what Rachel Zupek, the author of this particular article, thinks:

• Having a higher salary than your peers may make you target #1 when it comes to layoffs. I've never thought about this, but my relatively small salary makes me fairly 'cheap' when it comes to economizing and gaining value on the university's dollar. My higher paid colleagues do the same job, and I think a cynical manager might zero in on them first (unless the union has anything to say about it) rather than sending a pink slip in my direction.
• Higher salaries also make you an IRS target. It's possible (although not in my world) that a substantial raise might elevate you to the next tax level. Which means, of course, that the hefty raise you just received might be diminished by several hundred dollars a month anyway. I receive a refund every year---primarily because I pay so much in mortgage interest---but it feels good to know that I have a chunk of change coming back every spring, regardless of the penny-pinching and extreme budgeting I do throughout the rest of the year.
• A high salary may doom you to staying put. In other words, if you're at the top of your salary rate in your chosen field, you may not be able to find another job that pays as well, for the same work. If you love your job, that's just fine. But if not, you may have to make a tough financial decision in order to find a position that is more fulfilling. In my case, for the position I hold, I think my current salary is higher than I would find as an entry-level employee at another university in this area. I'll either need to change careers entirely, stay where I'm at, or deal with a lower salary if I moved into a similar position at another institution.
• Beware the glass ceiling. Again, this has never happened to me or to anyone I know, but it's possible that you could hit the top of your salary scale in your particular company---where there's no more room to move upward in terms of salary. So you either stay put, or move into another position at another company to try to get around the glass 'salary ceiling'. What do I think about this one? I should BE so lucky! With miniscule raises in the field of education, I'd have to be here for 30 years to hit the salary ceiling.
• A higher salary doesn't equal more happiness. This is what I've read over and over again. Once you hit a certain level where your basic needs (shelter, food, clothing, etc) are met and you feel comfortable, additional money adds zero benefit to your sense of well-being. Of course, extra money placed into the appropriate retirement fund would definitely benefit you in the future, but as far as present-moment happiness, there's not much difference between a $60,000 and a $100,000 salary (again, I should BE so lucky!)

So there you have it. More money might bring more trouble than it's worth. Has this article helped me solve my dilemma? No. But I definitely have some additional ideas about salaries, money, and career choices, which are now percolating through my head as I attempt to create my September frugal budget. . . .