Tag / money

by Nathan Coumbe

Two ways to have more

The first way is the one we most often focus on: earn more money.

Get a higher-paying job to buy a nicer house, go out more, and live a life of luxury. In short, you want to earn more money to have the freedom and flexibility to live a better life.

But there’s an inverse to this idea: needing less.

Lower your expenses by moving into a smaller home, downgrading to one car, or making more meals at home. Decrease what you need money for, and you get the same effect: more freedom and flexibility, but with the money you already make.

One isn’t better than the other, but one might be easier to obtain.

Subscribe to receive the blog delivered directly to your inbox!

by Nathan Coumbe

Life lessons from the last 18 months

Cherish your loved ones – they’ll be taken from you when you least expect it.

I’ve lost three close family members in 18 months. My father-in-law dropped dead of heart failure in December 2019. He was in perfect health.

My uncle died of cancer 6 months later. I had just seen him at Thanksgiving the previous year, and he seemed to be doing just fine.

Then my dad died in May. I had just spoken with him on the phone a month before… He sounded just like his old self. By the time I got to see him, he couldn’t speak or see me. I was able to say goodbye, but I’ll never know if he heard me.

And I might be losing someone else soon.

Tell your family you love them after you finish reading this. Then do it every day from now on.

Serious illness—or even death—can strike you down no matter your age or health.

My wife and I took the COVID-19 pandemic seriously. We quarantined, wore masks, and did all we were advised to do by the CDC. And both of us still managed to catch it.

My wife had a fever for eight days. I ended up in the ICU on forced oxygen for eight days gasping for breath. Wondering if this was what it felt like to die. The doctors told me had I not come in the night that I did, I would have died in my sleep.

I spent Christmas and New Year’s in a hospital room isolated and alone—except for the occasional nurse or technician. Eight days. And there were people around me even worse off than I was.

I was 30 years old and in perfect health. And I’m still recovering.

Never chase money – you’ll always end up miserable.

I was in my sweet spot at a job I enjoyed—teaching classes all day and putting my creative skills to use on a daily basis. But I felt I wasn’t making enough money, so I took a promotion.

The money wasn’t as good as I thought it would be. And I wound up in a miserable role that stressed me out more than I could have ever imagined.

Then another offer came my way, a chance to escape that misery, and it came with a decent bump in pay. But I had an uneasy feeling about it during the interviews.

I took it anyway, and it left me just as miserable as I was before, but for different reasons.

It might be a cliche, but find something that makes you happy. Then find a way to make a living doing it. Don’t take jobs you know don’t fit you simply because they offer you more money.

Take any or all of these lessons to heart. Let them guide your actions for the last half of 2021 and beyond.

Subscribe below and get daily insights delivered straight to your inbox.

by Nathan Coumbe

Why is freelancing so terrifying?

We human beings like security – it encompasses the first two levels of Maslow’s “Hierarchy of Needs.” It’s fundamental.

To get that feeling of security, we work hourly wage jobs; we try to get hired at famous companies for regular, unchanging salaries with hopes for a 3% raise every year (which doesn’t outpace inflation).

Freelancing – being “a knight without a king” as Seth Godin likes to say – seemingly goes against that feeling of security. There is no guarantee; you don’t get paid simply for showing up somewhere for a specified amount of time.

But it’s better.

The illusion

There is no security in hourly rates; there is no security in working for a famous company. As the COVID-19 pandemic has shown us, the moment something bad or unexpected happens, your security is at risk.

The security is an illusion. No longer can we work at the same company for 20 years, slowly moving up a corporate ladder, waiting for that day when we call it quits and HR hands us a gold watch and the envelope containing our pension information.

There is no security anymore. There is only you.

“Security lies in our ability to produce.”

–General Douglas MacArthur

Make your own security

What do you already know or do well?

Can you write? Create websites? Draw and paint? Build things with your hands? Sell?

Maybe you’re a whiz at smoothing customers’ ruffled feathers. Perhaps you have a knack for motivating and encouraging other people.

There is something you already do, or something you already know about, that other people are willing to pay for. You simply have to muster the courage to offer it to them.

Each of us must explicitly state to ourselves what we know how to do and do well. That knowledge and the willingness to execute on it are the only things that give us any sort of real security in the workplace.

If you can find someone and offer them something they are willing to pay for, and do that over and over again, you are a freelancer. You have no boss, no one telling you what to do next, but also no one telling you, “I’m sorry but we have to let you go.”

You have no guarantee of income – in either direction! You can make as little or as much as you want, as long as people are willing to pay for it. But I’ll bet you got stopped on the phrase “no guarantee” or “as little…as you want” while glossing over the rest of it.

As a freelancer, you determine your job, the work you do, your hours, the people you serve. Perhaps it’s not the loss of security you fear: it’s the fear of complete and total responsibility for your success or failure.

We aren’t used to that, but it’s the only way we’ll survive.

Secure your own future today. Don’t wait for someone else to do it for you.

Join 904 other subscribers
by Nathan Coumbe

You are self-employed

All of us, if we do work that causes us to get paid, are self-employed. It doesn’t matter who signs our paychecks–we work for ourselves.

What does it mean to be self-employed? It means you are your own boss. It means your income is based on your work.

If a freelancer or entrepreneur doesn’t show up for work–if they don’t create enough value for another person–they don’t get paid. This is obvious when you don’t work for a big company with payroll every two weeks.

What about the salesperson working on commission who does have someone who signs her paycheck? If she doesn’t contact the customer, provide value to that customer, and make a sale, she doesn’t get paid.

What about you? The hourly worker or the salaried cubicle-dweller (perhaps virtual cubicle-dweller is more accurate right now)? What happens if you don’t show up for work?

You don’t get paid.

What happens if you fail to create value for the company that employs you?

You get fired.

As soon as you realize you are self-employed–as soon as you realize that you are responsible for the value you create and the income you generate, regardless of how you get paid–you will secure your future.

Even if you are laid off, the attitude of self-employment will cause you to stand out from droves of people who want to know what a company can do for them rather than what they can do for their potential employer.

Adopt the self-employed mindset and you’ll rarely have to worry where your next paycheck comes from.

Join 904 other subscribers
by Nathan Coumbe

Make a huge difference with one small behavior change

In his second great book, The 8th Habit: From Effectiveness to Greatness, relates the story of Muhammad Yunus, an economics professor who founded the Grameen Bank – an institution that makes microloans to the impoverished citizens of Bangledesh. His story deserves to be quoted at length, but I will not do that here. What follows is a summary.

Muhmmad Yunus Saw a Need

Muhammad Yunus earned a Ph.D. and began teaching economics at a university in Bangladesh. While he was inside lecturing on macroeconomic principles, the citizens of Bangladesh were struggling to survive in a life of abject poverty.

One day when Dr. Yunus walked out of class, he passed a woman making beautiful, handmade bamboo chairs. Upon further discussion, he determined the woman was making two pennies per day.

Why? Because she was in a terrible arrangement with her supplier who only allowed her to sell the chairs back to him. Dr. Yunus then discovered that the woman only needed $0.20-0.25 cents to buy the materials herself, then she would no longer be in bonded labor to the supplier.

He discovered that other citizens were struggling in much the same way. His assistant went around asking how much money different people in his neighborhood needed to make a living: he reported back that all together they needed $27.

TWENTY-SEVEN DOLLARS! Dr. Yunus took that money out of his wallet, gave it to his assistant, and told him to tell those who were receiving the money simply to pay him back whenever they could (which they all did, eagerly and quickly).

Dr. Yunus Met a Need

There is much more to the story than that, including a long battle with banks in the area who did not believe anyone would pay back the money that was loaned to them (which they did). Dr. Yunus discovered, simply by opening his eyes and talking to people around him, that while he might not be changing the world with a $27 loan, he was changing someone’s world.

Dr. Yunus went on to create and found his own financial institution, Grameen Bank, which specializes in making small loans to people all over Bangladesh so they can create businesses, making a living, and pull themselves out of poverty. To this day it has loaned billions of dollars in microcredit to hundreds of millions of citizens, and it changed their lives.

Why am I telling you this story?

What You Need to Do

Change how you move through the world. Today, and each day for the rest of your life, when you drive around town, walk outside, or even scroll through social media, pay attention to the people.

What are they doing? What are they posting on social media? Can you identify a need in what they are saying? Are they struggling to accomplish a task or project?

Are they asking a question to which you know the answer or have a solution?

Assume, as Dr. Yunus says, “a worm’s-eye view” of the world. Don’t look for huge problems to solve: look for small, everyday problems. Find someone in need, ask yourself if you have the will and the skill to meet that need, and then do something about it. Show up, solve a problem, and keep doing that over and over again.

Ask yourself if you have the will and skill to meet someone’s need today.

You may not change the world, but you will change that person’s world. Do that enough times, solve enough problems for people, and you might begin to see a greater need that can be met by a business, service, or non-profit.

Find a need, meet the need, and make a difference today.

Join 904 other subscribers

*Note: some links on my site are affiliate links which means I make a small commission for purchases made. This does not affect you in any way.

by Nathan Coumbe

How to get an education that pays during your quarantine

When was the last time you learned something new?

It was probably a few minutes ago when you read an article on your favorite social media site, and you weren’t even aware you were learning. Why not do it intentionally?

Learning and education don’t cease when school ends. If it does, you’ve made a choice, and you will quickly find yourself becoming obsolete.

No one cares about the degree you got 10 years ago. They want to know if you are competent in the areas needed to accomplish the kind of work you want to do.

Learning and going to school are not the same thing. You might have hated school, but you definitely love learning. School requires that you do things you hate, but you aren’t in school anymore. You can learn whatever you want to learn right now.

Always wanted to learn how to draw? Do you want to redo math, not because you have to but because you want to? Maybe you want to learn calligraphy or tennis. Perhaps you want to get a new job, but you don’t have the marketing skills needed by the company. Now is the time, and now you HAVE time.

Learning anything new is part of your ongoing education. Why not do it intentionally? What are you doing right now to invest in your own education?

I’ll give you some ideas.

How to learn for free (or at least cheaply)

  1. Read The 7 Habits of Highly Effective People. If you only do one thing on this list, do this one. The $10 you spend on this book will be the best investment you ever make. It will change your outlook on life, it will improve your relationships with other people, and it will revolutionize how you act.
  2. Take online courses.
    • LinkedIn Learning
    • Udemy
    • Coursera – want a recommendation? Seth Godin has the absolute best courses on Udemy. Start there.
    • Khan Academy (retake high school absolutely free and enjoy it this time)
    • CreativeLive – learn how to draw, take stunning photographs, start your own creative freelancing business, and so much more.
    • Massachussetts Institute of Technology OCW (seriously, take actual courses from MIT absolutely free)
    • edX – Speaking of great schools, this website lets you take real, full courses from Ivy League schools from the comfort of your living room for free. No strings attached. If you want a certificate to hang on your wall or post on LinkedIn, you can pay a small fee and get proof that you completed Ivy League courses.
    • HubSpot Academy – become an expert in marketing for absolutely nothing.
  3. Read books.
    • Libraries still exist. Even if they aren’t open right now, you can download e-books for free from every library in the country. Go read books on subjects about which you are curious. It doesn’t cost you a dime.
    • Download the Kindle app for free on your phone. Then buy The 7 Habits of Highly Effective People. Seriously. You can buy books on every subject imaginable for less than $10 each. Most of the time you can get them for $5 or even $0.99. There is no excuse for failing to read. Swap 30 minutes a day of mindlessly scrolling Instagram, and you will become an expert on a subject in a matter of weeks or months.
  4. Subscribe to magazines.
    • Read the Harvard Business Review. It is well worth $18 a month. Get an entire master’s degree in business for what you spend on lunch.
    • Success Magazine and Inc. are two of my favorites. The former will inspire you to live your best life; the latter will give you much-needed insights on how to succeed in any work or business.
  5. Listen to podcasts – again, FREE.
    • “Akimbo” by Seth Godin
    • “48 Days to the Work You Love” by Dan Miller
    • “EntreLeadership” from Ramsey Solutions
    • “On Leadership with Scott Miller” from Franklin Covey
  6. Watch TED Talks and documentaries on Netflix or Amazon Prime Video.

There is no reason for you not to come out of this crisis with new skills, new knowledge, and an unofficial masters degree in one subject or another.

Be proactive. Take control of your education today.

Join 904 other subscribers

Note: a few of the links above are affiliate links. I get a small commission if a purchase is made. This does not affect you in any way.

by Nathan Coumbe

Invest in goodness

“Goodness is the only investment that never fails.”

–Henry David Thoreau

The stock market is reeling; businesses are closing; people are losing jobs. Any decision attached to money comes with a risk.

Being generous, kind, and selfless is not a risky thing to do. Sure, you might get taken advantage of or your acts might not be appreciated, but so what? You will always gain equity and compound interest when you are good and decent to others.

Today, and for the rest of your life, invest in goodness.

Join 904 other subscribers
by Nathan Coumbe

How much is enough?

I asked myself this question a few days ago and elaborated on it in my journal. Specifically, I was asking myself, “How much money do I need to make to feel like I am making enough?”

Honestly, making more money right now would not bring me any more happiness. It’s not money that my conscience is crying out to gain: it is meaning, purpose, the ability to use my God-given talents and strengths to serve and help other people.

The income I make now is actually more than enough to satisfy my needs at this moment. So why am I not doing something that fills my cup?

Have you ever asked yourself what enough is? If you made $40,000 a year, could you live on that if it meant you were doing something you cared about so much and so thoroughly enjoyed you couldn’t dream of doing anything else?

My answer is yes. Yours may be different. At a certain point, making more money is just making more money. Studies tend to cap the increase in happiness that comes from money at about $75,000.

So what goal, idea, or passion is the quest for more money preventing you from pursuing?

Are you, perhaps, an artist who wants to paint? A musician who wants to play and teach? Or are you, like me, a teacher who simply wants to teach?

Ask yourself this question: could you, honestly, make a living knowing the starting or average income that job in your head receives? Could you survive, or even thrive, if it meant you were doing what you felt passionately called to do?

The irony is most of the time when you quit pursuing money and start pursuing passion in the service of others, more money than you imagined comes into your life.

How much is enough? Could you make it doing what you love?

Join 904 other subscribers
by Nathan Coumbe

You are doing just fine. Relax.

We are constantly getting caught up – in what we don’t have, haven’t accomplished, how far we have to go, what we need to be doing next to get where we think we want to go.

It’s exhausting.

It’s also very frustrating and discouraging if you are not careful. When you find yourself getting caught up in all the stuff bouncing around your head, it helps to take a step back and look at things from a bird’s-eye view.

View your life on a timeline. I will illustrate with my own:

15 years ago, I was beginning one of the darkest periods of my life: bad relationships, growing up way too fast because my home life was falling apart, deep depression, severe anxiety – these were just a few of the treats I unknowingly had in my future.

10 years ago, I was just beginning college with an idea of what I wanted to do with my life – an idea that changed almost a dozen times in five years.

5 years ago, I was finishing my senior year of college. After graduation, I took a job making money that had me living below the poverty line in Mississippi. I was making about half of what I spent on my college education.

In the last five years, I graduated, got married, worked in five distinctly separate fields, got promoted three times, was actively recruited by a company because of skills I developed outside of college, and more than doubled my income.

It’s easy to get stuck on how far you have to go and all the things you haven’t yet accomplished. Don’t forget to look back and see how far you’ve come. The perspective will instantly change how you feel.

Relax. You’re doing just fine.

Join 904 other subscribers

by Nathan Coumbe

One hundred

There is something magical about the number 100. Nothing that comes before it really has the same feeling of meaning associated with it.

Think of the first time you had $100 in your hand. Today, that really doesn’t stretch very far, but do you remember the feeling? It was powerful, a feeling of wealth, of richness, of feeling as though you could do anything and buy anything you wanted.

Or what about Napoleon’s 100 Days? He escaped from the island of Elba, rallied 1,500 men, marched on Paris, and became emperor once more. Of course, he was defeated at Waterloo and kicked out again, but he still had those hundred days.

Or maybe working out? Have you ever done 100 push-ups or pull-ups? Have you ever put 100 pounds on a bar and lifted it for the firs time?

United States has exactly 100 senators. And the other important thing to many Americans: there are 100 yards between end-zones on a football field.

100ºF is extremely hot for humans; 100ºC will boil water into vapor.

100% is total, complete, a perfect score.

Most great lists of music, actors, artists, influential people, and books are lists of 100.

There is truly something special about one hundred.

Join 904 other subscribers