Investing for the Future – Starting at Work
It’s not unusual to come across people in the older generation who will tell you they’ve been at their jobs for 20 years or longer. In fact, many employers are impressed by the consistency and work ethic of those who work at one company for a long, uninterrupted period of time.
But it’s not always financially possible to stick with one gig for more than a few years. As important as it is to prove you’re a reliable employee, your financial stability is a major part of living a secure, happy life.
New Era Debt Solutions offers the 6 following reasons you may need to reevaluate your career situation:
1. It’s been way too long since your last raise.
If it’s been two years and you haven’t seen a raise in your salary, it may be time to move on. In fact, the ADP reports that in 2016, most employees experienced the biggest pay bump when they stayed at a company between two and five years. But when they continued working past the five-year mark, they did not experience much pay growth at their next gig.
Have a frank conversation with your employer about what your salary is going to look like in the future. If he/she beats around the bush, that is your sign to start looking elsewhere.
2. You’re not being paid fairly.
You should also have a frank conversation with yourself about your value as an employee. Do your research to see if your salary and benefits match those to others in your same job field. If you have great benefits (i.e. vacation time, health insurance, childcare assistance, etc.) that make up for your lower salary, you’re in a good place. But if your salary and benefits package are dismal at best, either muster up the courage to ask for a raise (if you’re deserving) or spruce up your resume.
3. Your company is having financial issues.
You were promised a bonus but it never came through. Your boss seems to have forgotten about that raise that was discussed. You’re seeing some of your coworkers being laid off, some who had been with the business for years. Take these as warning signs that your company is not doing well. Remember, it is much easier and smarter to seek out a job when you’re already employed than it is when you’re out of work.
4. Your work commute is horrendous.
Calculate how much you’re spending in gas or on public transportation fares to get to work. Also, evaluate how much time it takes just to get to the office. If it’s taking you an hour or longer to make it to your job, think about how much time you’re spending in traffic not being productive. And depending on where you live, the cost of transportation simply may not be enough to make your current job worth the commute. Either look into remote working options with your company, or find a new workplace closer to home.
5. You’re taking too much work home.
Do you leave your work at the office, or do you constantly find yourself taking projects home with you? Are you always on call when you’re technically off the clock? Work is meant to be done at work. If you’ve lost count of the family events and milestones you’ve missed because of your career, your current job may not be worth the sacrifices you’re making.
6. You’re unhappy.
Some people are so dissatisfied in their jobs that their physical health and mental wellness are compromised. Don’t spend your hard-earned money on medical expenses (due to the physical stress your job has given you) or therapy (due to the general unhappiness your work has caused). Contrary to popular belief, you don’t have to be stuck in a job you don’t like. As the old saying goes, if you choose a job you love, you’ll never have to work a day in your life.
New Era Debt Solutions has settled over a quarter of a billion dollars of debt since 1999 and wants you to be our next success story. If you need assistance achieving financial freedom, contact one of our friendly counselors at New Era Debt Solutions to learn more about finding the debt relief option that best fits your needs and budget. Our counselors are with you every step of the way.