We all have different reasons for keeping our current jobs or why we want to look for new one. Whatever reasons that you may have for staying with your current employer or moving out, it still is a valid reason as long as it will help you meet your personal needs. Each of us may have other reasons for staying longer with our employers, but we all share common needs- which are probably the same reasons why we’re also still working for our current companies.
Our Common NEEDS
- Bills payment (Mortgage, Rent and Utilities)
- Educational Expenses
- Food Expenses
- Saving up to start a Family
- Travel & Transportation Costs
But what if your current employer can no longer help you meet these needs or help you prepare for your future? The driving force that you have to look for a new job should be strong enough to fuel you to find a better one that will help take care of yourself and your families’ needs.
How much salary do you need to pay for everything that you need, like bills and other expenses? The amount that you need is unique and will ultimately depend on your needs and wants in life. If you want to own your own house in the near future, then you will have to aim higher. Even sending your child to a private school will require you to aim even higher. Your present job should be able to at least pay for your basic needs, but if it no longer does, you could possibly do the following:
- Learn to Spend Wisely. All your basic needs for paying food, water electricity and even internet connection should be taken care of by your salary especially if you’re the bread winner. If the amount that you get from your salary is not good enough to sustain these needs, then it’s time to look for a better paying job that can help you pay for your basic needs. Set aside a portion of your earnings for savings (preferably 20%).
- Plan a Budget. Following a strict budget can definitely help. Spend only on things that are absolutely necessary such as food, clothing and transportation. Do not waste your money on things that are outside your budget and which are not essential for your daily survival.
- Create other sources of income. Put up a small business that will not require much of your time if you’re employed. For example, if you have a small space at home, you can probably use it to put up a ‘sari-sari’ store or a food stall. As long as your interested and familiar with the products that you can sell, earning extra will help you meet you rising costs of living. Online selling may also be an option if you have something to offer.
- Apply for a Promotion. Probably the hardest but the easiest way to increase your salary is getting a promotion. If you’re confident to pursue and own more responsibilities, getting a promotion is your easiest ticket way up for a better salary package.
- Look for another Job. Although it is not that easy to find a new job, you may want to check your options with PhilJobNet to plan ahead. Looking for another job can widen your window of opportunities to grow as an employee and even increase your chances of getting better pay with other companies who can give regular salary appraisals.
If you’re already considering to take option number 5, we are here to help you find new career options to help you get by with life’ increasing demands and be on track with the career direction that you really want.
Do you have other tips on how you can increase your income? Share it with others using the comments below.
Photo Credit: Getty Images