What value do you place on financial freedom? If you place a high value on being debt-free and are consciously choosing how to manage your finances, you can start to mentally “pay yourself.”
Reward yourself for taking the time to map out your plan.
By questioning and evaluating your process of handling money, you can turn off the autopilot mode you were in and begin to explore new options. Navigating this new course may feel strange and uncomfortable at first. Stick with this action plan; you’ll develop new habits to support your dreams, and very quickly, this new lifestyle will become second nature to you.
Find the value in yourself, your relationships and your financial future. If you track your progress, you will see a series of small successful steps – all pointing toward your goals. If you find there are areas where you need help, enlist the guidance of a friend, colleague or family member who can be a champion. For example, if you are not sure how to start saving for retirement or need help setting markers for that big goal, a champion or a mentor can be valuable helping you navigate new territory and get you on the right track.
Explore your value in the workplace as well. Ask yourself, “Do I do everything possible in my position to demonstrate my value?” Determine what level of compensation others in your industry and at your level receive. Is there an industry standard of pay and is there a documented skill level or list of job descriptions you can use to compare with your current position?
You may find that you are under-valued at work and need to share what you contribute each day with your upper management. Do you have advanced skills? Have you taken extra training classes? Worked on special projects? Make a list of what makes you a more valuable employee and ask to be compensated. There are many people who wait for someone to recognize them or offer them a raise. If you ask for higher compensation, you have a better chance of boosting your wages. Ask and you may get it! You really have nothing to lose.
After making industry comparisons, you may also find that you need to update skills or invest in yourself. Take the initiative to make yourself more valuable. Conversely, you may find that it is time to move on.
Exploring, calculating and defining your value gives you the power to control your options. Whether you stay, change jobs, get more education or work harder to be the best at your current position, you have empowered yourself by knowing your value. Now you are better able to choose the best life for you and your family.
Here’s to a life of value!