So many times, you may find yourself in the position where employment becomes the only option and a salary as your prime source of income. The sweet part of having to work under a boss or for a company is that you don’t get to work out everything all by yourself. You may work with a team and just play the part that you were brought onboard to do. Once you get your part done, you are good to take your salary on the pay day.
Unlike entrepreneurs who swallow both profits and losses, the ordinary employee or salaried worker enjoys only getting paid and nothing else.Whether the company gains or loses, the agreement is to get paid for the work done.
Even though the normal 9-5 salary work can be somewhat appealing and risk-free, there are some commons mistakes many employees do that usually render them broke until retirement and sometimes till death.
Mistake Number 1: Overspending or borrowing ahead of your payday
Human needs can never be met no matter how content one may be. No matter how much your salary maybe, don’t overspend or borrow before your pay day. Salaries are meant to be spent throughout the month ahead and as such your salary expenditure must be based on your budget after salary payment. If you over spend or borrow, you may get broke before you get paid and as such you have to adjust your expenditure for the month ahead. This we all know will make you stranded for the entire month.
Mistake Number 2: Making your salary your only source of income.
The experience of having one source of income is a very tough one especially when you are on a slim budget every month because you just finished high school or university and found one local agency to grant you an employment.
You can be working but you still have to depend on someone especially your parents, friends or maybe your partner to get some basic needs for yourself before your pay day. The hustle can get better if you find a good part time or work from home job that can randomly drop some coins or papers in your account balance each time. There are lots of part time jobs to choose from especially in the millennial generation where internet work is very easy to come by. But hey, beware not to get scammed by anyone in your quest to find a part time job. The best way to get your own online business or part time local business is to learn a skill that can earn you commercial value. For example: you can learn website designing,graphic designing,social media marketing or search engines optimization if you have basic i.t knowledge, you can learn to sew, shop online and sell in bits to your friends and people around you, etc.
Mistake Number 3: Compromising on your job security.
One key factor to take into consideration all the time as an employee is your job security or insurance. Just like the government, at any point in time when your employer feels that he/she is making low profits on his/her investments (which include salary payments), the only alternative in reducing his/her inputs to correlate her outputs (profits) is to lay off some of his/her employees. The only time you get is a three months notice or less (and that is only if you find yourself in a good institution that follows the labour laws of the country).
If you are lucky to find yourself in a somewhat good institution where profits keep growing and your boss growing some pot belly (sorry if you are a boss reading this lol 🙂 ) then that’s your luck but hey, don’t forget that incidents and accidents may slide in anytime and your job security is still not assured. We always have to remember that your job security lies in the hands of one person or incident hence the need to get it insured by finding an alternative job or skill to supplement your income should the unfortunate happen.
Mistake Number 4: Failing to Upgrade Yourself
The world is moving at a faster pace, and you may get lost anytime soon if you don’t join the race. Your qualifications, ideas and skills are what keeps you in your current job position. There is therefore the urgent need to upgrade your ideas, qualification and knowledge to meet the ever changing demands of your employer before you become a liability on your employer.
Mistake Number 5: Relaxing Comfortably in your current position
The world is a bigger place with lots of amazing places to see once you have lived on the planet earth. Your family can’t afford to see you every now and then spending good times with them. Your current employment position should be a stepping stone to reaching your physical, financial and emotional goals. Don’t settle for the mediocre, there is a potential in you that the world must see as well. Use your current position to build on your skills in other to start your own dream with enough ideas and skills. That is when you realize the feeling of having to control your own time and destiny. The future is in your hands, don’t fall for mediocrity, you deserve better than that.
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