Literally, there really are two sides! Yeah, you know that already. What I mean there are often two sides to things when it comes to money topics.
- Some people are savers and believe in total responsibility, while others are spenders and want to enjoy every minute
- If you spend money your net worth decreases, but another person’s net worth will increase
- Working long hours might result in a raise, but will cost you precious time, energy, and maybe sleep
- There are times to be patient with money, and times to have a sense of urgency (patient = not panicking with stocks; urgency = saving for retirement)
This all came to mind (eventually) after I checked out some of the things people can buy for $5. If you have never checked out Fiverr, you just might be surprised and even entertained by what people are offering for $5. Here is a sampling of what I saw in a quick 2 minute search:
- Holding up a sign with a “cute” look
- Sing a punk rock happy birthday to you
- Create a cartoon character from a photo
- 15 minutes of Mandarin Chinese instruction
- Create a blog headers
- Record a professional voiceover
- Illustrate a book cover
- Record a birthday party invitation video
- Write a marketing message on her lips – see picture above 🙂
Personally, I think this all pretty cool. There are people all over the world that are willing and able to do all kinds of creative projects for a very reasonable $5 fee. Just go online, and within 10 minutes you could order something like this. Within a few days most likely, the project will be done. Very little time or money invested on your part!
I’ve gotten just a few random tech-related things done for $5 in the past, and they were really well done. That was a huge plus for someone looking at it from the perspective of the customer, and I totally respect those who provide such work.
Takeaway: there is a lot that can be accomplished for very little investment, with the advent of a global market!
Well, I’m guessing that if someone is living in a place with either very low cost of living, or where there might not be as many opportunities at hand, it could work out well. That’s cool!
That being said, it’s also worth paying attention to how a global market can open up the market for things at a low price.
Sure, maybe you aren’t singing birthday songs for a living. But perhaps your work – or that of someone you know – could be done easily by someone else for a much lower price. Someone who won’t ask for nearly the amount of money that a person here in the U.S. would for the same work. Offshoring work isn’t exactly a new thing, and it seems (anecdotally) to be increasing on a macro level.
At the recent FinCon (Financial Blogger Conference), I had a few conversations with fellow bloggers about virtual assistants. I don’t have one, and therefore it was quite eye-opening to find out how little some people were paying for a VA that did a ton of work.
Really, that concept goes back to the notion of supply and demand when making money that I talked about recently. We aren’t entitled to make a certain amount of money now or at any time based on our education, where we live, who we are, etc. Dang, I wish I could look at things the other way as it would make life so much easier! But, it’s better to be real. And I think that reality is that the world and employment market seem to be evolving at an ever-increasing rate of change.
It’s best to adapt, hustle, and always work to differentiate ourselves by adding value. Also, young people should invest wisely in an education that will help increase wealth. That’s an investment in a career, and having high earning power is a tremendous “asset” by itself.
After all, there are plenty of hungry, bright, motivated people in different corners of the world who are hustling for a lot less money, and more accessible than ever. That being said, education alone won’t necessarily insulate someone from changing market dynamics. It’s important to embrace life-long learning to keep up, before even getting ahead in your career.
Takeaway: $5 gigs are a lot better when you’re paying for them, as opposed to being boxed into doing them!
My Questions for You
Have you ever outsourced, and gotten something really useful or cool at a great value? Feel free to share any success stories.
As a wage earner, have you given thought to the implications of the world “shrinking”? By this, I mean in terms of the ability of employers to find much cheaper alternatives based elsewhere?