How To Import Fixed Width Data Into a Spreadsheet via R: Playing With IPUMS-CPS Data

The end result of this walkthrough is a XLS file which you should be able to import into your favorite spreadsheet program.  Here you go, if you want to skip to the good stuff: ageyearincomeaverage It has four sheets, which I will explain briefly.  I compiled some data on average incomes by year and split up by age.  I also have the 'overall' … [Read more...]

There’s No Such Thing as a Free Lunch (Or Gas Mileage)

Setting aside my esteemed co-writer's obsession with hypermiling (not practicing, mind you, joking about), there really is no such thing as a free lunch - especially when it comes to fuel economy.  The Government, however, as demonstrated by recently finalized mileage laws, wants their lunch on the house. As the saying goes, "you can't legislate … [Read more...]

The Philosophy of Don’t Quit Your Day Job…

One of the interesting things about writing on a Personal Finance site is that while you write for your readers and yourself, you are part of a broader community which informs your opinions and gives you reason to examine your own views on many topics. We at Don't Quit Your Day Job, as of today, have now been around for three years, covered a large … [Read more...]

The DQYDJ Weekender (Week of 12/19/11)

Welcome to the Christmas/Holidays/Winter Solstice version of the DQYDJ weekender!  The three writers on the web site are Catholic (we're from Boston, remember?) so this is being sent out on Christmas Eve for us.  Happy Holidays to you and your families, and enjoy this wrap up. We'll be back next week with more controversial stuff, but for now we … [Read more...]

Carnivals and Links, Week of November 7, 2011

First off, welcome The Frugal Toad to our blogroll!  Great content is being produced over there all the time, often of a frugal nature.  If you like saving money, go check out The Frugal Toad today! Another week, a few more Twitter followers - up to 61. Not bad, considering we had 0 a few weeks ago. We added a Facebook page. Go like us. Or just … [Read more...]

Why You Should Stop Worrying About Median Wage Decreases – and Keep Worrying About Unemployment

Oh no! The Social Security Administration recently released it's Wage Statistics for 2010 to little (official) fanfare. To read a little financial press, it's the end of the American Dream (buy guns and gold!), however. Here's a little secret: the problem isn't that employers are colluding to ratchet down the income of the United States. The true … [Read more...]

Is Operation Twist a Failure? The Fed’s Two Left Feet.

"Oooh-yeah just like this Come on little miss and do the twist" - Chubby Checker, The Twist I thought the quote was pretty clever, but you could also attach one of a couple of subtitles on this post: "Why Thomas Sargent Deserves Half the Nobel Prize" or, if you like classic entertainment, "A Funny Thing Happened on the Way to the Dance"!  Let's … [Read more...]

Tax Exemption of Charitable Contributions

Reverend Lovejoy in Viva Ned Flanders (The Simpsons, Season 10): "And, once again, tithing is ten percent off the top. That's gross income, not net. Please people, don't force us to audit." Some of our more popular articles at DQYDJ have been on charitable giving. My colleague PK has written about giving time as opposed to money here, here, and … [Read more...]

Live Blog on 11/2 Midterm Elections

Cameron Daniels blogging live watching on CNN (the best technology) to keep you updated on the tightly fought midterm election races. (All Times EST) 7:00 Here's what I will be watching this hour: Indiana: The Hoosier state has many election oddities.  Polls close at 6:00, which makes it the earliest poll closing in the United States along with … [Read more...]

Substitution vs. Income Effect (and its Implications)

Let's start with a thought experiment: if you were to receive a 10% increase in your hourly wage, would you increase, decrease, or maintain your hours worked?  Believe it or not, any answer is correct, despite many assumptions regarding the positive slope of labor supply curves.  The reason that any answer is correct lies in an understanding of … [Read more...]