Hustling is no longer cool
As millionaires and billionaires continue to glorify the grind, everyday workers seem to be on a different page. According to the KeyBank 2024 Financial Mobility Survey, 72% of U.S. adults said they prefer to define success based on “soft-life culture,” which is focused on happiness and fulfillment, rather than “hustle culture,” which prioritizes wealth and status.
This shift could be the result of growing awareness of the mental and emotional burden of stressful work. Recent research from the Society for Human Resource Management (SHRM) found that 45% of U.S. employees said their work made them feel “emotionally drained,” while 51% said they felt “used up” at the end of the workday.
There’s also growing concern about the physical toll of extended hours and stressful work. The recent deaths of two young investment bankers, 35-year-old Leo Lukenas III and 28-year-old Carter McIntosh, has sparked a debate about Wall Street’s notoriously difficult work culture.
For many, the financial incentives of sleeping at the office and skipping weekends with family is simply not worth it. In fact, 63% of Americans said they prioritize work-life balance, while only 27% of respondents said they value a high-paying salary more, according to KeyBank. At the same time, Ford's 2024 Trends Survey found that 52% of workers said they would be willing to take a 20% pay cut to achieve a better quality of life.
With this in mind, here’s how you can improve your life satisfaction and strike a better balance between your personal and professional life.
Kiss your credit card debt goodbye
Millions of Americans are struggling to crawl out of debt in the face of record-high interest rates. A personal loan offers lower interest rates and fixed payments, making it a smart choice to consolidate high-interest credit card debt. It helps save money, simplifies payments, and accelerates debt payoff. Credible is a free online service that shows you the best lending options to pay off your credit card debt fast — and save a ton in interest.
Explore better ratesWork smarter, not harder
If hustle culture is unappealing to you, there are several ways you can strike a better balance in your work and personal life.
Acquiring new skills, whether through online courses, certifications or mentorship, can open doors to higher-paying roles, allowing you to earn more without extending your work hours. Switching careers or joining a new industry altogether could also help you boost the amount of money you make per hour, rather than working overtime at your current job.
Though, you would have to sacrifice a year or two of your time to get the proper education or training for such a transition. Depending on your goals, it may be worth it.
Achieving financial security through passive income is another way to live a more fulfilling life.
For instance, if you earned $20 to $30 an hour, or a salary equivalent to that, and invested $10,000 in a dividend stock or real estate investment fund with a 6.55% dividend yield, you would receive $655 in annual dividends. This investment may allow you to cut back 20 to 30 hours of work every year.
However, if you’re already financially secure and live a modest lifestyle with little to no debt, you could consider flexible work and contract work arrangements to pick your own hours and spend more time with your family.
None of these strategies are likely to make you a millionaire or billionaire, but seeing the faces of your loved ones more often could be worth more.
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