how much can i make with my position in the company?
being financially stable is the most important to me #finance #money
3 answers
Roger’s Answer
Hi Jesus, Being financially stable is important to me, too !! And how much money you make at a company depends on the type of job that you have in the company, what you contribute to the company, and the responsibilities that you have with the company.
But, to be financially stable, the best advice I can give to you is to “not spend more money than what you make."
You won’t have any money problems EVER if you just spend less than what you bring home in your paycheck.
Be aware of expenses that suck money out of your wallet like expensive coffee, expensive meals, expensive clothes, expensive cars, expensive hobbies, expensive vacations, etc.
When you start working for a company, you should immediately "save 15% of your salary." (Yes, you can do this.... perhaps save even more than 15%.) And, start investing in a 401k savings plan or other retirement plan immediately when you get that first real job. (If you wait, you lose time and you lose a significant amount of money in the long run.)
I am 56 years old. Since 1987, I have been investing 15% of my salary (or more!) every year. In addition, the companies where I have worked for 30 years have contributed an additional 6% of my salary as part of a 401k contribution.
So, for 30+ years, I have been investing a total of 21+% of my salary each year. And, yes, I am financially stable. I don’t worry about money.
You will be financially stable if you start saving at a young age. And, you will be financially stable if you do not spend more money than you make.
Ivan Trajkovic
Ivan’s Answer
Roger provided an excellent answer.
There is an old saying "It's not what you make but what you keep." Be mindful or your daily and monthly expenses, those are the easiest to overlook. Take the time to develop a budget and identify your expenses and set priorities and goals.
Identify people in your life who are successful and willing to coach you. Credit should never be used to maintain a lifestyle but can be incredibly important in business. There are many books on the subject as well. Lastly, protect your credit and credit score. A good credit score will provide opportunity that a bad credit score will not.
Great question!
Renato Akira’s Answer
Working in a Big 4 is a very good opportunity to be financially stable because the career plan really works and you get promotions each 2-3 years until the Director level and salary raises each year.