SoFi Blog

When New York’s Cravath, Swaine & Moore announced plans to increase first-year associate lawyer salaries from $160,000 to $180,000 annually beginning on July 1, it ended a near decade-long drought during which the cost of living in New York City and student loan debt skyrocketed.

When you work hard, you want to play hard. We get it. You deserve to enjoy the finer things in life, and you can have them—you just have to be smart and strategic with your spending. Sticking to a budget while saving toward financial goals doesn’t mean you can’t splurge a little. In this, our second story in a series on spending hacks, we continue to help you figure it all out. With some savvy tweaks and an eye for planning ahead, you can have what you want.

We’re now in the so-called “gig economy,” where many people juggle multiple income streams. Side hustles—everything from teaching hip-hop dance on the weekends to selling leg warmers for chairs on Etsy—abound. While it’s difficult to quantify the exact number of contingent workers, it’s estimated that millions of Americans participate in the gig economy. These gigs not only bring in extra cash to help pay off debt or save for the future, but can also help you achieve your long-term career goals.

When I moved back to the Bay Area in 2010, I thought I’d find a new job within a few months. After all, I’d found work quickly before. But boy, was I wrong!

Relying on the tried and true methods no longer worked. I applied to dozens of companies and only heard back from a few. It was a tough economy, sure, and mid-management level jobs take longer to get than entry-level jobs. Still, the silence was crushing.

Eventually, I made it to a final round of interviews with three different organizations, but each time I was only the runner-up. A fresh round of disappointment followed.

When you work hard, you want to play hard. We get it. You deserve to enjoy the finer things in life, and you can have them—you just have to be smart and strategic with your spending. Sticking to a budget while saving toward financial goals doesn’t mean you can’t splurge a little. In this, our first story in a series on spending hacks, we get you started. With some savvy tweaks and an eye for planning ahead, you can have what you want.