They say that money is the root of all evil, but actually money makes the world go around. The amount you have will always depend on the path you take in your career, but truthfully, there are no boundaries when it comes to earning. It all depends on your own ambition. You don’t have to be among the amazing savers or the millionaires to be wealthy, but you can change your wealth while you work. Fattening your paycheck relies on you and your desire to do more and earn more.
Getting to that millionaire status is a goal for everyone, and whether you’re working in retail or on the high-flying career ladder, there are plenty of ways you can expand your wealth while you work. We’ve put together some of these for you here:
1) Location, Location. Believe it or not, part of building your wealth is working somewhere wealthy. You are far more likely to build your income if you are working in a city that is financially flush. Minimising what you spend on housing while maximising your earnings is important, but so is working in a city!
2) Be Bold. Part of working means standing up and asking for what you would like. A lot of companies do an annual review every year, but that doesn’t mean you shouldn’t stand up and be counted by asking for what you feel you deserve. Asking for a raise isn’t being out of step, but it is a way to ask to be recognised.
3) Build Your Skills. Part of earning more money means having something to offer your work. An online MBA that you study on your own time can make a huge difference to your skillset. By being able to study further, you can offer more on your resume and therefore justify asking for a raise. You need to gain experience while you gain your qualification so that you can really offer something further!
4) Switch Careers. Almost every role has a ceiling involved that puts you at the top of the food chain for you team, but gives you no more wiggle room to keep moving. Switching your career and doing something slightly different could give you more space to earn more and progress. It may not have been your original plan, but it’s certainly better than getting to the top of your game and going stagnant.
5) Redesign Yourself. Part of earning more on the job is making yourself more attractive to your management team. You want to be given better opportunities and chances to take on more responsibility. Adding to your skillset with education, volunteering for overtime and generally going above and beyond in your role so that you can be better recognised as someone who works especially hard.
There are so many more ways than these you can build wealth in your current job, but you have to be willing to work for it so that you can eventually have the dream career you have always wanted to have.