4 Financially-Savvy Career Moves

Even in the most prestigious and well-paying professions, job security is hard to find. Instead, financial stability now comes from treating yourself like your most important employee. That means investing in yourself, paying yourself well, and otherwise making sure you’re operating at full speed.

Here are four tips, adapted from Generation Earn: The Young Professionals Guide to Spending, Investing, and Giving Back by my friend Kimberly Palmer, for taking your career to the next level:

Invest in yourself. Professional coaching can turn you into the star podcaster you’ve dreamed of being, or it can teach you how to be a better leader. Sometimes, a career coach or development course can help you get “unstuck” from a career rut. Less formal advice can come from meeting with more experienced colleagues and mentors over lunch or coffee; they will often be happy to talk with you.

Raise your rates.  Chances are you’re not getting paid as much as your worth. Do some research on salary comparison websites, such as salary.com or payscale.com. If you’re close to a coworker, then ask that person what he or she thinks the pay range should be for a variety of jobs at your workplace to get a sense of how you stack up.

Get a second job. Diversifying your income is the best way to create job stability. Could you start selling your crafty inventions on etsy.com? Do you enjoy organizing other people’s desks, or designing T-shirts? Or do you have an unusual skill, such as woodworking, that you could advertise on Craigslist.org?

Free up your time and energy by outsourcing chores. Think of money spent on a cleaning service or getting your grocery as investments in your career, because they free up more time (and energy) for you to focus on your day (or night) job. Instead of vacuuming the living room, consider scheduling a creativity session: Block out an hour on the weekend or evening to dedicate to exposing your mind to new ideas.

Comments

[Meghan Kirk]

My name is Meghan Kirk with WomensJobList.com, the largest job board for women.

We recently opened up our job feed and are reaching out to a select few sites to see sign up as syndication partners.

After you install the jobs widget on your site, your logo will be featured on the WomensJobList.com home-page with a link back to your site.

The customizable jobs widget can be found here.
http://www.womensjoblist.com/widget.php

We have a few slots for logos to appear above the fold so let me know if you are interested and we will get your logo up asap.

Thanks for your prompt response.

Best Regards,

Meghan Kirk

[Owen E. Richason IV]

It is great to consider raising your rates...some people aren't being paid what they are worth!

[Karl Staib - Work Happy Now]

Getting a second job is great advice. I talk with a lot of people who hate their job and they think that a new job will make everything better. It doesn't.

By creating a small business on the side like you suggest you can dive into a whole new world of connecting with some amazing people.

[Dawn Lennon]

A terrific post! Amazing how it really doesn't take much to take charge of our own careers. I'm a huge proponent of taking an entrepreneurial approach to our own lives and that means the way we view and manage the jobs we take along the way.

I especially like your point about adding other income streams, that old "ace in the hole." It sure has worked for me both financially as as a way to build skills in other areas. Your advice is spot on!

I'm happy to have you on my blogroll! ~Dawn

[Alexandra Levit]

@Dawn: Great points. Whether you work in an established organization or not, entrepreneurial skills are becoming more and more critical.

@Karl: I agree. Changing jobs should involve a switch to work you feel more passionately about, not just something that's "newer."

@Owen: Now if I could just figure out the best way to do it!

@Meghan: Please e-mail me about such opportunities at arl@alexandralevit.com. Thanks!

[Evelyn]

Hi,

I just began reading your blog yesterday. Can you please delve into the first bullet, "Invest in yourself" a little more?
How does one go about finding a coach or a course? Would you be able to give some recommendations?

Thank you!