Do you see a money tip here?

by Nick on August 28, 2010

Next up in CNN Money’s 21 best money tips ever is John Challenger, “employment expert.”  His advice:  “Get involved and network.”  Huh?  Here’s the rest of it:

Become deeply engaged in civic, professional, and educational organizations that matter to you. And constantly build new relationships with people through these affiliations.

Yep.  That’s it. 

My take:
I get it.  I really do.  If you network and are involved in things you’re passionate about you’ll likely do well professionally and make a steady, stable income (are there still stable incomes these days?).  You’ll likely be one of the best at what you do and people will recognize that about you.  So you’re probably less likely to lose your job.  And if you do, you’ll likely have plenty of connections to find another one quickly.

But seroiusly?  Couldn’t Mr. Challenger give us something more than “get involved and network” and a two-sentence elaboration?  Couldn’t he give us some application to money based on his “expertise”?

So here’s me trying to finish his thoughts:
Controlling spending through careful budgeting, saving and smart investing are, collectively, one side to the financial-independence equation.  But the other side of the equation are income.  (Remember, there is income and “outgo.”) 

So, doing what you’re passionate about with people who are also passionate is one of the best ways to steady employment and rising salaries – and securing the “income” side of the equation.  Then you just have to master minimizing your “outgo” and you’ll be well on your way to financial independence!

So get out there and do what you care about!  Bring home that bacon!  Then set your budget, save and invest.  And, of course, put your credit card down and slowly step away from the mall!

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