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Are you earning enough?

26 Jun, 2017

“Is the paycheque enough?” This is one question that probably every employed person has pondered upon once in life. Irrespective of the position, title, or the numbers on the cheque every month, the doubt of not earning enough usually creeps in. While the question is eternal, its certainty arises more during the financial breakdown. So, how to find out whether you are earning enough or not? Read these below-listed points and make an evaluation.

Consider your colleagues:

The first sign of not obtaining a good salary may come from the paycheques of your colleagues. If you have been dedicatedly working for this job for a long time, you should have accrued a raise in your salary by now. If a person who has just joined the job is earning same as you, then you must know that you are not earning enough.

Your Value:

Next, you must determine your value to assess whether you are earning enough or not. Ask yourself, how much you would be charging if you were working on your own? If you were to charge for your skills on an hourly basis, would you be making more than what you are earning right now? If you couldn’t find any change, you must consider sharpening your skills.

Your Company:

How is your company doing? Is it earning enough or facing an economic turmoil? If you think that your company is doing really well and you are earning the same as before, it is time to conduct a thorough research. Find out the annual earnings of your company and analysis in which direction the business is going. If you think the company can afford to elevate your salary, talk to your boss regarding it right away.

Using Credit Cards:

If by the end of the month you have to rely on your credit card to meet the ends, this is one of the prominent signs that your income is not enough. There is no drawback of using a credit card unless you can afford the things you are purchasing. However, if you have to use the card for paying the bills of essential utilities, chances are you need an increment in the salary.

Using Savings:

Your savings account should be growing and not decreasing. So, if you are withdrawing from your savings account every now and then, it clearly shows that your income is not enough. To keep the expenses on track, you may even have to modify your budget. Or, you may end up being in a trouble.

If these are the signs you encounter every now and then in your life, you should know by now that it is the time to have a talk with your boss. Modify your skills and ask for an increment before you go broke.

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