Last month I organized a $1000 cash giveaway. For February they are providing a cash giveaway for $999.99. In honor of Jay-Z, the theme of this giveaway contest is 99 problems, specifically money problems.
I could probably list 99 money problems I’ve had over the years, but instead I’d like to focus on the biggest money problem I’m currently facing: having a job in an unstable industry.
In the past, people would secure a job with a company and work there for decades. These days that situation is rare. Instead people are frequently switching jobs and even completely changing careers. With certain industries this scenario is even more common. Sometimes it is just inevitable to see a higher rate of turnover and people jumping from company to company more often.
Unfortunately the website marketing industry is one such example. When you’re fighting for rankings in an environment with ever changing ‘rules’, it can be tough to keep employers happy. One day your work is producing great results and the next Google tweaks its rankings algorithm potentially putting you back to square one. Employers usually don’t understand this complication and they end up blaming whoever is handling their website marketing.
This situation has put me in a difficult position financially. It is tough to make any long term financial commitments when there is a large degree of uncertainty about the future. Do I commit to a mortgage when there is a decent chance I’ll eventually face periods of unemployment? Sounds like a recipe for a foreclosure. Making matters even worse, I live in an expensive city and this is where the jobs are in my industry.
So what’s a guy to do if he wants to settle down when facing something like this? Well previously I had considered switching careers, but that’s easier said than done. Plus who is willing to make that move while they have a job that is going well? I don’t know about you, but I’d be much more tempted to stick around hoping it lasts long term.
It seems my only other option is to build up a decent side income as backup. In addition to providing safety net income, it would allow me to save up more money and pay off the mortgage quicker. I really should put a chunk towards a decent sized emergency fund considering the circumstances. In all honesty, it’s a big part of why I’ve put the time into building up my blog quickly. If all goes according to plan, this blog will be the foundation for a solid source of additional income.
Obviously my major money problem could be much worse. Still, it is frustrating to have the abilities to make decent money while being forced to have limited optimism about the future.
It all makes me wish I was allowed to enter this cash giveaway. Really though, someone else probably deserves the money more than me. So refer to the widget below to enter today:
What is your major money problem?