Would You Invest $1.5K for a Non-Guaranteed Chance?

Welcome to 2017 everyone!! Hope everyone had a great break. It’s been a while since I posted. Things have been hectic and I had to move across the country (again) for a permanent position with my current company. Lots has happened to my life that everyone could learn from, which I will incorporate all of the juicy details into my posts. One thing that I will let my readers know is that I received a promotion! It came with a big fat (fattest raise I’ve ever seen) raise, which I am not complaining about at all.

Let’s recap first. In my earlier posts, I detailed that I was losing cash every month because of how much I contribute towards my 401k. The cash problem exacerbated even further when I had to spend $1.3K on housing to move across the country on a chance that I will be placed in the department for full-time work. I had to sell a part of my portfolio ($2,500) to cover the early termination fee of my apartment back in Alabama (which I will get reimbursed later down the road). 

Non-Guaranteed Chance

The thing is, I spent $1.3K on a chance that I will be placed in the department for full time. There was no guarantee. I could easily have been told to come back to Alabama to do another rotation. But I didn’t care. My thought process was that if I didn’t work in the department, there was no way I had a leg up against someone who did work in the department. And I wanted the job.

$1.3K is not an insignificant amount of money. It easily pays for 4 months worth of groceries. It was a risky move. I’m glad to say that it paid off handsomely. I did get the job offer (after what I thought was a grueling interview) and it came with a big fat raise. I won’t get into the exact details of the raise yet but I will say that it was more than a $15,000 raise. Did I know that I would get this big of a raise when I moved here? Absolutely not.  

It was a chance to go after something that I really wanted to do. It wasn’t guaranteed and it was a huge gamble but it paid off. My employer does not know that I spent $1.3K out of pocket to move to the different city. It was agreed that I would spend my days at my friend’s couch or with an air mattress or something of the sort. I couldn’t get any of my friends to take me, so I went with the next best option. I don’t regret it one bit.

Would You Regret?

I wrote in earlier posts that it’s always advisable to spend money on things that give the most value, instead of fixating on price. Having a chance at your dream job for $1.3K (which isn’t a lot of money if you think in terms of a lifetime) I think would definitely raise your utility levels. Taking that chance is almost always worth the price. The million dollar question is to ask yourself and make sure that you wouldn’t regret it if you HAD NOT gotten the job.

I did not do a thorough job and ask myself this question before spending the money. I got lucky though and received the job anyway. If I was given the opportunity again for another job with the future being unknown, I would still do it in a heartbeat. The joys of being not married has a lot of perks!

Conclusion

Would you spend a lot of money to be given a chance at a job that you really want? It’s almost always worth it if you are unhappy with your current situation. I would like to hear any reader’s experiences with this!

Finance Solver

I grew my net worth to $40,000 as a college student through hard work, discipline, and a little bit of luck. I graduated college in 2016 and will be starting to plan for my retirement once I start working.I am planning on reaching financial independence by my early 30's and I will document my moments of inspiration all the way to desperation here.

My goal is to enable your success in personal finance so that you can realize the American dream. The first step is starting today!

Read more about me here.

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5 thoughts on “Would You Invest $1.5K for a Non-Guaranteed Chance?

  1. Firstly congratulations! Regardless of the whacking great payrise (which is a major bonus of course!), its great to be based in the new role and move onto the next part of your career which helps towards secure finance!

    Would I have done the same in your position? Absolutely yes! I moved first to a place I had never been before for a job, then moved to London which I didn’t know well and stayed there since!
    Cheers,
    FIREin’ London

  2. Well done FS! You took a chance on your dream job and took a risk but at the end you won big. It’s not luck, it’s called ‘determination’. You had the determination to do whatever to get your dream job, even if it cost you extra money in the short-term and had to move to another state.

    At the end it was your determination and risk taking that got you your dream job. I am sure your interviewers saw you as a ‘Go Getter’ type. 🙂

  3. It stinks to sell stock to get pay for expenses (compared to saving) but being you are young, $1300 isn’t much.

    If you make more than minimum wage and have a disposable, raise or no raise, I think a one-time $1300 investment won’t break the bank. You can recoup the costs in the coming months by saving money elsewhere like delaying large purchases.

    Congrats on the raise & promotion BTW.

  4. In the grand scheme of things $1300 isn’t much at all for what you’re getting in return. Congrats on the raise and bets of luck in your future!

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