Joe Pinsker
speaker
1,247 appearances
30 recordings
1 series
first heard Oct 2022
last heard Jan 2025
Joe Pinsker’s voice in public audio — every appearance, attributed to the second.
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Appearances
And this is one of the things I was sort of most interested in as I was getting started on this.
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What are the actual practicalities of making a decision like this?
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How easily or not can people live with less when they make this choice?
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I spoke with a guy named Dustin Stapp in Arizona who had a sort of interesting little insight into how all of this worked.
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He basically said that he and his wife had to start making some different financial decisions.
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They were going to replace his 12-year-old car, and they didn't.
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They've started buying less when they go to Costco.
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They used to buy cashews, and now they don't.
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But also, in the bigger picture, he started putting less into his 401k.
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Another interesting little side note here is that for Dustin Stapp, when he was doing this, the pay cut prompted him to look at parts of his budget that he hadn't inspected in years.
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And so he went back to some recurring bills that he'd had for a long time.
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And by switching providers for car insurance, home insurance, his cell phones, he ended up saving $2,500 a year.
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So a pay cut is less money, but it's also a sort of a mindset shift in what's most important and also how you're going to evaluate your budget.
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Sometimes, yeah.
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I was talking with career coaches for this story, and they were saying that people have it in their heads that making a big career change is something that could come with a pay cut.
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Sometimes it can, they were saying, and sometimes it can't.
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But one career coach I was talking to was making the point that a lot of people default to saying that they're just going to go back to graduate school.
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in order to make a shift into a different industry or field.
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And he was saying that what he does is encourage clients to instead think about positions that are lower paid in their new industry.
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So maybe you take a pay cut now, but it means you don't have to pay tuition.
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Showing 521–540 of 1,247 · page 27 of 63
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