Comments on: I make $10.50 an hour http://doyoudaveramsey.com/1050-hour/ Practical ◦ Entertaining ◦ Personal ◦ Finance Wed, 08 Sep 2010 09:51:17 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: Dave Ozment http://doyoudaveramsey.com/1050-hour/comment-page-1/#comment-489 Dave Ozment Tue, 14 Apr 2009 05:22:44 +0000 http://doyoudaveramsey.com/?p=885#comment-489 I think that's a great approach.... I was leaning straight towards the income side of the equation and I think we need to learn to open the door or take the lid off our potential on that end. At the same time, and at the other end of the spectum, we need to tightly manage and oversee our outflow. Thanks for adding that nugget to the discussion! Dave I think that’s a great approach…. I was leaning straight towards the income side of the equation and I think we need to learn to open the door or take the lid off our potential on that end. At the same time, and at the other end of the spectum, we need to tightly manage and oversee our outflow.

Thanks for adding that nugget to the discussion!
Dave

]]> By: Debbie http://doyoudaveramsey.com/1050-hour/comment-page-1/#comment-470 Debbie Sat, 11 Apr 2009 11:52:47 +0000 http://doyoudaveramsey.com/?p=885#comment-470 How much I make depends on what I am focused on. For my financial security I focus on my salary for the year and the real possibility of even small yearly raises making my salary grow beautifully. For wanting to purchase an item like say my new laptop, I focus on my hourly NET pay. Then I think about how many hours I must work in order to fully purchase said item with cash. Much easier to decide if what I get out of an item is worth working that many hours. My new laptop took 58 net hourly pay and for me it is worth it but I thought about it for quite a while. <abbr><em>Debbie’s last blog post..<a href="http://feedproxy.google.com/~r/GottaKnit/~3/mS8Tf0Z52LU/the-latest.html" rel="nofollow">The Latest</a></abbr></em> How much I make depends on what I am focused on. For my financial security I focus on my salary for the year and the real possibility of even small yearly raises making my salary grow beautifully.

For wanting to purchase an item like say my new laptop, I focus on my hourly NET pay. Then I think about how many hours I must work in order to fully purchase said item with cash. Much easier to decide if what I get out of an item is worth working that many hours. My new laptop took 58 net hourly pay and for me it is worth it but I thought about it for quite a while.

Debbie’s last blog post..The Latest

]]> By: Dave Ozment http://doyoudaveramsey.com/1050-hour/comment-page-1/#comment-133 Dave Ozment Wed, 18 Mar 2009 19:53:18 +0000 http://doyoudaveramsey.com/?p=885#comment-133 I love the idea of passive income streams so I'll have to check our your site... I still think there's a mentality at work when we lift our view from short to long term horizons. There may be income structures that pay out by the hour - even doctors and high profile attorney's have hourly bill rates but they view their income on an annual scale. To be fair, my inspiration was a caller on a radio program several weeks ago. The man was a truck driver and when asked how much he made he responded proudly that he made $10.50 per hour. When the host responded, "ok, so about $21,000 per year", you could hear the realization and disappointment in the caller's voice as he agreed. It lasted half a second but it was chilling. It was the back scene in a movie you miss the first 2 times watching it... and clearly it resonated with me. That is some wicked budget calcs if you have all your expeneses aggregated and allocated to the hour. That's pretty neat. I have to say it, day trading scares the crap out of me... but kudos to you if you can make it go! Thanks for reading and commenting. I'm forever interested in the reactions and discussions. I hope you'll stop by again... now to find that link back to your site! I love the idea of passive income streams so I’ll have to check our your site… I still think there’s a mentality at work when we lift our view from short to long term horizons. There may be income structures that pay out by the hour – even doctors and high profile attorney’s have hourly bill rates but they view their income on an annual scale.

To be fair, my inspiration was a caller on a radio program several weeks ago. The man was a truck driver and when asked how much he made he responded proudly that he made $10.50 per hour. When the host responded, “ok, so about $21,000 per year”, you could hear the realization and disappointment in the caller’s voice as he agreed. It lasted half a second but it was chilling. It was the back scene in a movie you miss the first 2 times watching it… and clearly it resonated with me.

That is some wicked budget calcs if you have all your expeneses aggregated and allocated to the hour. That’s pretty neat.
I have to say it, day trading scares the crap out of me… but kudos to you if you can make it go!

Thanks for reading and commenting. I’m forever interested in the reactions and discussions. I hope you’ll stop by again… now to find that link back to your site!

]]> By: HS http://doyoudaveramsey.com/1050-hour/comment-page-1/#comment-131 HS Wed, 18 Mar 2009 19:04:54 +0000 http://doyoudaveramsey.com/?p=885#comment-131 I would say we make $50 an hour but after taxes and expenses that probably comes out to $23 per hour. To me its all about the passive income, on a good day if I trade stocks I can make 3,000 in 4 hours. HS <abbr><em>HS’s last blog post..<a href="http://www.ourdebtblog.com/2009/03/citi-forward-card.html" rel="nofollow">Citi Forward Card</a></abbr></em> I would say we make $50 an hour but after taxes and expenses that probably comes out to $23 per hour. To me its all about the passive income, on a good day if I trade stocks I can make 3,000 in 4 hours.

HS

HS’s last blog post..Citi Forward Card

]]> By: Dave Ozment http://doyoudaveramsey.com/1050-hour/comment-page-1/#comment-123 Dave Ozment Tue, 17 Mar 2009 20:11:19 +0000 http://doyoudaveramsey.com/?p=885#comment-123 Thanks TAM and right back at you, I look forward to reading your work as well. Thanks to Dusty for 'linking' us! Dave Thanks TAM and right back at you, I look forward to reading your work as well. Thanks to Dusty for ‘linking’ us!
Dave

]]> By: Brandon http://doyoudaveramsey.com/1050-hour/comment-page-1/#comment-122 Brandon Tue, 17 Mar 2009 19:37:13 +0000 http://doyoudaveramsey.com/?p=885#comment-122 Dave, Thanks for reaching out! You have a great blog here and I'm excited about digging deeper. I also am a big fan of Dave Ramsey and appreciate the foundation of the financial principles that he teaches. Blessings, TAM <abbr><em>Brandon’s last blog post..<a href="http://www.thealmostmillionaire.com/what-is-a-meme/" rel="nofollow">What is a meme?</a></abbr></em> Dave,
Thanks for reaching out! You have a great blog here and I’m excited about digging deeper. I also am a big fan of Dave Ramsey and appreciate the foundation of the financial principles that he teaches.
Blessings,
TAM

Brandon’s last blog post..What is a meme?

]]> By: Dave Ozment http://doyoudaveramsey.com/1050-hour/comment-page-1/#comment-118 Dave Ozment Tue, 17 Mar 2009 05:54:58 +0000 http://doyoudaveramsey.com/?p=885#comment-118 I mostly agree... we should not enter into an employment situation with our eyes closed thinking that our employer will take care of us. We are in control of our destinies be that through a series of conventional employments or something on our own. There's an author today - I think either Dan Miller or Rabbi Daniel Lappin that says we should treat our employers as our customers... in that way we remain in control and we can follow this model with one or many employers or customers at any given moment. Clearly not everyone is made to start and run their own business, but everyone should enter the job market with appropriate expectations and accountabilities. I personally love the idea of passive income and one day creating enough passive income to enable greater personal freedom (I plan to follow bloggers such as you guys to learn more), but in the meantime, the idea of a more conventional employment model resonates with me - partly because it is what I know and partly because I like being a part of something much larger than just me. But I must enter these arrangements with the proper mindset. Thanks for sharing and advancing the conversation, I hope for more! Dave I mostly agree… we should not enter into an employment situation with our eyes closed thinking that our employer will take care of us. We are in control of our destinies be that through a series of conventional employments or something on our own.

There’s an author today – I think either Dan Miller or Rabbi Daniel Lappin that says we should treat our employers as our customers… in that way we remain in control and we can follow this model with one or many employers or customers at any given moment.

Clearly not everyone is made to start and run their own business, but everyone should enter the job market with appropriate expectations and accountabilities.

I personally love the idea of passive income and one day creating enough passive income to enable greater personal freedom (I plan to follow bloggers such as you guys to learn more), but in the meantime, the idea of a more conventional employment model resonates with me – partly because it is what I know and partly because I like being a part of something much larger than just me. But I must enter these arrangements with the proper mindset.

Thanks for sharing and advancing the conversation, I hope for more!
Dave

]]> By: pfincome http://doyoudaveramsey.com/1050-hour/comment-page-1/#comment-116 pfincome Tue, 17 Mar 2009 01:29:40 +0000 http://doyoudaveramsey.com/?p=885#comment-116 I agree with Lindsay's points about realizing not to rely on a job as the only form of income. I think that is so very important! I agree with Lindsay’s points about realizing not to rely on a job as the only form of income. I think that is so very important!

]]> By: Dave Ozment http://doyoudaveramsey.com/1050-hour/comment-page-1/#comment-114 Dave Ozment Mon, 16 Mar 2009 12:57:07 +0000 http://doyoudaveramsey.com/?p=885#comment-114 @ OD - didn't mean to mislead but glad you read through and added a comment.... I'll have to check out your work as I'd love to set up passive income streams. @ OD – didn’t mean to mislead but glad you read through and added a comment…. I’ll have to check out your work as I’d love to set up passive income streams.

]]> By: Dave Ozment http://doyoudaveramsey.com/1050-hour/comment-page-1/#comment-113 Dave Ozment Mon, 16 Mar 2009 12:54:53 +0000 http://doyoudaveramsey.com/?p=885#comment-113 @ Lindsay - good points all around... bill rates are different from income, and wealth does come from more than just our income. Thanks for sharing! Dave @ Lindsay – good points all around… bill rates are different from income, and wealth does come from more than just our income. Thanks for sharing!

Dave

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