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Williams earned $115,000 as a senior data analyst before quitting her job in 2022 to run a new social channel full-time. By the end of the year, she had paid herself about $150,000.
Her business took off and by 2023 her salary had increased to $200,000. But after hearing that some brand partners were looking to cut her budget and hire more staff, Williams decided to reduce her salary to $125,000 a year by mid-2023. .
Hannah Williams from Salary Transparent Street.
Credit: Brandon Showers Photography
Williams says it was difficult for her to resist lifestyle inflation due to salary adjustments. Especially since she spends so much time on social media and is bombarded with ads at every moment. “It’s always there, always,” she says. “It’s really difficult.”
But the TikTok star says there are two main strategies to prevent lifestyle derangement.
When Williams is tempted to buy something she clearly wants rather than a necessity, she waits 24 hours before making the purchase decision.
It’s an important step when she’s at work or scrolling through Instagram and comes across an ad for something appealing, like the $60 sweater she recently bought.
“Every time I told myself to wait for the next day, I completely forgot about it. [it]“My life is the same without a sweater, but in that moment, when I want a sweater, I sometimes convince myself that I need it when I don’t.”
Williams says if she’s still thinking about a product after waiting 24 hours, she only buys it if she can think of three specific situations in which she would use or wear it. This exercise helps her “validate what she buys and make sure it’s something special and meaningful to her, rather than something that impacts her lifestyle.”
Then, a bigger purchase is on her mind. “Because sometimes I think I can afford a Prada bag just out of her head.”
In such situations, Williams says she analyzes the cost of a major purchase based on how many hours she would have to work to make it. “If it’s important to you, it gives her a new lens to consider the purchase, even if it means she has to work an entire week to validate it,” she says.
“If you think about how much you’re working and compare that to the result of getting a bag, sometimes they’re not equal,” she added. “So if we can find a way to compare costs and give us a baseline of how much it actually costs and how much effort we’re putting in compared to our budget, we can get a glimpse of reality. You can do it and get back to reality.”
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