The Hedonic Tredmill

The term is used to define our ability to return to our normal emotional state despite having accomplished something incredible or having undergone a very challenging experience. In its economic sense, its our ability to quickly revert back to our original emotional state despite a significant financial loss or gain. A person who experiences a huge windfall or a major loss returns to being his/her normal self relatively quickly. For me, the average time it takes me to revert back to feeling normal and generally “meh” is about two weeks. For two weeks I’m happy, motivated and excited as a result of whatever big goal I accomplished. The most recent one is the fact that I paid a little over $13K towards my credit card debt. I’m currently in my second week of euphoria and can feel that “meh” creeping back in to my life. I want to maintain the excitement, joy and energy I got from having accomplished this goal because in this state, I develop really clear action plans, get awesome ideas and generally feel and exude confidence. Β My solution to prolonging this feeling has been to get small victories here and there that can further my overall goal of financial independence as well as provide me with the emotional reward that I have to admit is important in my life. So, here are the potential small victories that I got lined up.

  • Generate an alternative source of revenue, ideally, a passive one- In order to accomplish this, I’ve decided to rent out a spare bedroom in my condo and increase my debt payoff/savings contributions by that amount. Since I put the word out there, I’ve gotten several responses and hope to actually get someone in very soon πŸ™‚
  • Invest more time and energy into drumming up for my real estate business (which is also another source of revenue, so yay)- This one might generate revenue a lot slower than the first goal, but its something I need to do in order to get my business off the ground anyway. For now, I’ll just take solace in the fact that I’m marketting relatively aggressively. In order to do this, I’ve contacted friends, and former classmates I know that have significant social media following and asked them to help me promote. I have also created pages and paid for advertising on social media sites. Β The response from the people I’ve contacted has been mostly positive.
  • Invest more time and energy into searching for a new job- While I plan to get into real estate full time in one way or another, I would like to allow myself some time to develop a customer base and a network before doing so. In the meantime, I plan to find a regular 9-5 that provides me with a good salary/benefits but also flexibility and job satisfaction. The latter two are a big deal to me and I currently don’t have them in my current job. I’ve been applying to positions and going on interviews, but I would like to get a few more interviews before deciding what to do next. I’m encouraged by the fact that hiring season is around the corner πŸ™‚ and for once, I’m actually ready to go! Resume has been tweaked, cover letter versions have been created, Linkedin has been updated and references are on stand by! Adelante!
  • Declutter aggressively- Clothes, shoes, excess furniture, excess anything! They all have got to go. They stifle my closet, and my life. So this weekend, I’ll be dedicating myself to this task and donating the clothes/shoes/furniture I don’t need to charity. The emotional reward from this is instantaneous and very high!

 

 

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