Welcome to Worth Your Time Weekly – April 27, 2018
Each Thursday, I do a quick post with 3-5 links I come across (or were emailed to me by you!) that I think are worth your time. Here are the links for this week (and don’t forget last week’s WYTW)!
Here come the Links!
1. The best “side hustle” for a pharmacist might actually be Overtime?
It seems like everyone is looking for a “side hustle” now-a-days (myself included – see my first side-hustle post about how to dip your toes into real estate). “Pharmacist side hustles” was a topic a couple of my finance students asked about this past year, but I wasn’t able to address it sufficiently. This is a great article that has spawned a post idea that I plan to explore. Is a pharmacist better off just working some OT instead of spending time working on a side hustle? Earning 1.5x your normal salary doing something you are already good at sounds pretty good. This link provides some other great reasons to work some OT early and often.
2. Interested in some general money tips aimed at someone starting out in their career?
Here is a fun list of 20 tips that people over 30 years old wish their younger selves knew. My personal favorites on the list are 1) Life style design and 7) Spend less than you Earn.
Life-style design doesn’t have to be super intricate like some might make it seem. Just thinking about how you want your life to go and what you want to focus your time on counts as life-style design. If you want to work 3-4 days per week to allow you to volunteer or read non-fiction books or be a better parent – make it happen. You don’t have to take it to the extreme of living in an RV traveling the country while working solely via email and “free wifi” hotspots.
And the idea that you don’t have to spend your entire pay check and can funnel some earnings toward saving for large intentional purchases/retirement is a novel idea for many people who are just starting out. Learn this concept early, but don’t forget to partition something off to spend on yourself.
3. Ever heard of Buy It For Life (BIFL) items? I hadn’t either until this post
I thought this link/article was interesting since while I definitely appreciate the concept of buying quality for specific items (work shoes, jackets, etc). I didn’t realize it was a subculture too!
My favorite item to buy on the list was backpacks; since it reminded me of why I first thought of the buy for quality concept.
My first “good” backpack was a green Jansport. My mom was vehemently opposed to spending $50 on this backpack for me in 1993, but I pleaded and begged until she relented. Twenty-five years later, I still use this thing at least once a month and I love it.
4. Another good one from my favorite business website 25iq.com
I didn’t know who David Chang was until Bill Simmons (sports personality, formerly of ESPN and now head of theringer.com) started mentioning him on his Podcasts. I still don’t know a ton about him, but Mr. Griffin published another great post discussing Mr. Chang, entrepreneurship, and the food/restaurant business. 25iq is a phenomenal website if you are interested in reading about business concepts applied to real businesses and business people.