Economics

Doing what you love is not always a completely awful financial strategy

There’s been a lot written lately about the danger of doing what you love (“DWYL”). Miya Tokumitsu floated the anti-DWYL thesis in Slate in January, noting that DWYL’s “real achievement is making workers believe their labor serves the self and not the marketplace.” DailyWorth picked up on the piece in an essay called “Why Doing What You Love… read more »

The economics of writing — or how to write for a living and not starve

In the comments yesterday on the Why Am I Not in STEM? post, we got into the topic of writing as a career. It is not known as a particularly stable or high-income line of work.
However, it’s not inherently grim. People who call themselves writers do not, on average, do badly. According to the BLS, there are 41,990 Americans who call themselves “writers and au… read more »

In which I borrow a blog post idea: What would you do if your income doubled?

Over at Grumpy Rumblings, NicoleandMaggie posed the question of what readers would do if their incomes doubled. This is, obviously, a nice question to be able to ask. The one who’s the econ prof recently faced this question because her husband got a new job. They’re pre-paying the mortgage, beefing up contributions to retirement accounts, taking on de… read more »

Biking: The not so cheap sport

I love biking. I like that you’re outside — like running — but you’re moving faster. We’ve been diligently trying to turn biking into a family activity these past few months.
But boy, has it been an expensive hobby, both in terms of money and time.
First, we had to buy bikes. That’s fine — I’m happy to have one. But we also needed gea… read more »

How to save $30 in 30 seconds

I’m not a huge fan of coupon clipping. I find that shopping store sales, buying produce in season, and stocking up when I find a regular household item at a drastically reduced cost are all more efficient ways to save cash. For instance, when I was at Target the other night buying school supplies, I noticed that the Mack’s ear plugs I buy — which I pay $6… read more »