Career Tips & Tricks That Will Improve Your Finances
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For most people, needing a job is just a fact of life. There’s no way to navigate life successfully without having access to money. That said, there are some steps that you can take to both improve your career prospects and improve your finances at the same time (besides the obvious). Here are five of them.
1. Participate in Your Company’s 401K and IRA Plans
If your company offers a 401K or an IRA plan (or both), then sign up for these programs as soon as you can. Many people find it difficult to discipline themselves enough to put money away for retirement. Maybe you’re one of them. Fortunately, by contributing to an IRA or a 401K, you’re setting up an automatic savings habit. If you do it as soon as it’s available to you, then you won’t miss the money that goes into the account. It probably should go without saying that your job search should include companies that provide these benefits if you want to take advantage of this type of savings throughout your career.
2. Go After Jobs With a Higher Salary
The more money you make, the better your financial outlook will be. It’s as simple as that. That’s why you should always go after jobs that offer you a higher salary. Sometimes, this happens at the company you currently work for. As you move up in the ranks, your salary should increase, particularly as you move into the management and executive positions. If that’s not happening, then you should be willing to look at other companies that can provide you with a higher income. If you’re looking for higher management or executive level jobs, an executive recruiter can help you locate jobs that may be right for you and your financial plans.
3. Start a Side Gig
Side gigs done right can turn into full-blown careers in their own right. Certainly, they’ll provide you with some extra income that you can sock away, even if you aren’t interested in starting a second career. Nowadays, with the proliferation of freelance sites on the Internet (like Fiverr), it’s fairly easy to find clients for your side business. That said, you don’t have to start your own business to benefit from a side gig. Making some extra money after hours can be as simple as filling out an application at the local coffee shop.
4. Work at Home
With the prices of gas nowadays, driving to and from work takes a serious chunk of cash out of your bank account. For many, the cost of transportation is so cost prohibitive that it costs them to go to work. You might find yourself in this predicament. One way you can alleviate the cost is by working at home if your employer allows it. Fortunately, more and more employers are allowing this because they’ve learned that productivity actually increases when people work at home. If working at home isn’t possible in your current job situation and if you feel strongly about making this goal a reality, then you might have to look for employment elsewhere. You may even have to go out on your own as a freelancer or businessperson to make this happen. However, the money and time savings you’ll get from not having a long commute will add significant amounts of money to your bank account over time.
5. Get Direct Deposit
Many people opt for direct deposit because it cuts down on trips to the bank and keeping track of the paperwork involved. However, according to Money Crashers, there’s another reason to go the direct deposit route. If you have a fairly new bank account, then you might be paying maintenance fees. Getting direct deposits is one way to sidestep this issue and save yourself some money in the process.
Final Words on Improving Your Finances
It’s understood that having a career is one of the primary ways that your finances will improve over time. However, even within the career world, there are steps you can take to improve your finances even more than you would by earning a salary alone. Often, these steps, like the ones outlined above, work in tandem with your career goals.
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