Living Passionately
Your ability to earn money is not solely for the purpose of survival. Ideally, the reason that most of us work or pursue careers is so that we can adequately provide for our needs AND do the things or have the things that we desire in life. Vacations, homes, families, cars, hobbies, and charitable giving are just a small sample of the things that you may be passionate about.
When you understand what you earn, plan accordingly based on your current level of income, and give consideration to your earning potential, you are better suited to ensure that you can provide for your needs and enjoy your passions.
Beyond Paychecks
When you are earning a living there is much more to understand than the money that goes into your pocket on payday. A financially literate person has a well-rounded understanding of exactly what deductions and payments are part of the earning process.
Gross vs. net income, taxes, withholdings, benefits, social security, and other deductions should be understood and not just taken as a necessary evil. When you understand how all of these aspects of getting paid work in conjunction with each other, your long term financial success becomes more of a reality.
Negotiating Your Value
Salary negotiation for most people is an afterthought of the career exploration process. It can be a sweat-inducing and challenging proposition, but it doesn't have to be. With preparation, practice, and data-based dialogue, you can work to ensure that you are being paid a fair and equitable salary based on your education, experience, and unique qualities.
Employee Benefits
When you work and earn an income there are usually additional benefits at your disposal. These benefits are sometimes an afterthought of the employment process but should be given just as much consideration as salary. When you understand the benefits offered to you in addition to your salary considerations, you can begin to formulate a total compensation for your services.
Your total compensation is an essential factor that should be used in your decision-making process with any employer. There are times when you may realize that these additional benefits are indeed more valued and beneficial to you than the pay you are receiving.
If you would like to hear more about this topic, please feel free to contact our office for a presentation, workshop, or individual coaching session. You can also access the Green to Gold Learning Modules for further self-directed learning and content.