bookmark_borderWould you change career to earn more money?

People want to earn more. This is a completely natural and understandable desire. Financial motivation is really important in building your life and plans for the future. In addition, the situation may change as a whole: for example, the salary you had for a while and was satisfied with may not be enough if you decide to have a baby or buy a new car.

Options of earning more without changing career

What to do if you want to earn more money? If you love your profession and you have to change it only because it is not paid enough, there are a few options. What are they?

  1. For a start, you can look for an additional source of income. If there are savings, they can be invested in securities or engaged in trading. The main thing is not to take rash steps and study the issue in detail. Carefully study the topic before making investment decisions.
  2. Another option is to try to achieve a salary increase. When talking with superiors, it is important to reinforce the request for a pay increase with actual achievements in the workplace. Make them see that they do not want to lose such a useful employee.
  3. In a number of areas, a monetary increase will be providedin case the worker has a degree. Specialists who have studied abroad are highly appreciated: if there is an opportunity for a year to pause your career and get an MBA, you can count on a higher income upon returning to work. Besides, this year will give you a recharge and you meet many useful people.
  4. In case you need extra money at the moment, you can borrow some money from a reliable lending company.

Consider these choices if they are optional in your case. If you understand that making more money is possible only if you change career or you simply don’t like your job, evaluate other opportunities.

How to understand that it’s time to change career?

Specialists identify very specific symptoms that the old job is no longer suitable for you. Here is the list of the main ones:

  • during work, you constantly feel bored;
  • you do not want to read special literature;
  • it seems to you that in this area you have already achieved everything possible and there is nowhere to move on;
  • you are not satisfied with your salary;
  • you too often find yourself thinking at work about abstract things;
  • your health is deteriorating (in severe cases, neurosis and panic attacks occur);
  • you don’t want to go to work to the point where you want to cry.

Of course, these feelings can be caused by severe fatigue. Therefore, before you quit your job, try an experiment – go on a long-term vacation, creating all the conditions for yourself to have a good rest.In addition, pay attention to the relationship with colleagues and superiors – perhaps the problem is not in the profession as a whole, but in your place of work. And only if, after resting and changing the team, your condition did not normalize, it is worth moving on to the next stage.

Decide on a new profession and go for it!

For some, this part of the journey may seem the easiest – at last there is an opportunity to realize their childhood dreams, find application for hidden talents, turn their favorite hobby into a matter of life. Butfor many, the question “where to go?” seems like an insurmountable obstacle. Then, in search of a new calling, a career counseling specialist can help.

In 60% of cases, people already have a certain topic or area that interests them. Then they should only specify the desire. In the remaining 40%, people will learn something fundamentally new with the help of a specialist.

The main goal of the vocational guidance technique is to identify which profession is suitable for this particular person. To do this, there are many different polls and tests.

Before you go to a specialist, it is important to do “homework”. To do this, ask yourself a few questions: “Where and when did I feel happy, realized?” Take a “tour” of childhood and youthful memories: “Where did I have the feeling that I want to experience now during work? And why did I ever give up on this?” Find your path in life. Feel satisfied and earn enough.

bookmark_border5 proven financial management tips for self-employed and small businesses

Financial management is one of the most important components of any business. If a company or a private businessmanwants to survive in the face of fierce competition in the industry, as well as in a volatile and uncertain economy, he needs to properly manage his finances.

In particular, self-employed people and small businessesneed to be especially careful because they often do not have a financial “airbag”.You must have a proper financial structure that can actually make a profit in the long run. You cannot afford to make basic mistakes. Even one mistake can be enough to bury your business.

Why do people decide to become self-employed? There are several main reasons:

  • tired of working for someone
  • freedom in decision making
  • creative work
  • do what he is passionate about
  • money

So, how should you travel in these complex and dangerous waters of the financial sea? Find below some helpful financial management tips that can help small businesses with their money problems.

Realistic financial budget

Often people think that planning a financial budget is a difficult task that is not very necessary. They believe that this is nothing more than another optional piece of paper.In fact, a financial budget can develop or destroy your business in the long run. Having a budget, especially a realistic one, is important as this financial plan tells you how you can move forward.

The purpose of the financial budget is not to limit you in any decisions. Rather, it serves as a guide for their adoption. A budget can also be useful in figuring out if your projected income levels are worth the plans to expand and grow your business.

A budget helps you determine which aspects of your business you need to pay close attention to, and where to fall back to keep costs at the desired level.

Personal and business finance must be separate

You should never take your personal and business finances as one. Many small business owners  and self-employed people do not realize the importance of separating them until it is too late.You need to separate all your business expenses from personal expenses. This will allow you to track your costs and control them when necessary.

You must have a separate bank account for business finance so that you can make and receive payments without any confusion. Do not neglect this advise if you want to be a successful man or woman.

Maintenance level of money turnover

Even the most profitable enterprises may ultimately go bankrupt if they do not have sufficient working capital. Working capital is essentially the money that you use for the daily expenses associated with managing a business.

How do you buy more goods or pay salaries to staff (including yourself) if you do not have money? If you are faced with a shortage of cash, you can always try to get a loan to finance working capital.These loans are easy to obtain and do not require a guarantor. With their help, you can quickly solve your working capital problems to avoid bankruptcy.

Choose cloud-based financial management solutions

Recently, an increasing number of small enterprises and self-employed persons are starting to use cloud-based financial management solutions.These platforms reduce barriers to entry because they are either free or affordable. It turns out that using cloud technologies is more economical than hiring additional employees.In addition, you do not need to have specific technical knowledge to use cloud solutions.

Avoid unnecessary expenses

One of the best financial management tips for small businesses and self-employed people is to cut spending and avoid unnecessary costs as much as possible.You may be tempted to buy better furniture or a more modern machine. But it’s better to focus on developing your business before making any major investments that can create a hole in your budget.

If you follow these simple rules, you will find out that being self-employed and even running a small business is a manageable task. Just understand that you have to learn a lot to become a specialist in every side of your new business. The more you learn, the better results you get!