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Saturday, September 23, 2023

Get the money you deserve, use it wisely

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There’s been a lot of talk about the wage gap between men and women as well as betwen Blacks and whites. It is all true and the facts are known. General Colin Powell in his presentation in Indianapolis made it clear that when it is all said and done, it is your performance that matters. With superior performance, rewards come your way.

Despite societal ills, it is possible to live well. The real question is: Do you have a financial plan despite your income? If you don’t then you should make one, and if you don’t know how, then I encourage you to take the necessary steps to learn.

Learning how to do great financial planning is the single most important thing a person can do to secure their future, and not just financially. A good plan helps you live your life with less stress, and less stress means better health.

In addition to managing your money better, you can also boost your income. Start with your current job.

Here are three points to consider:

(1) Know your numbers before asking for more. Before asking for a pay raise, first take into consideration the status of your employer in the industry. If the salary increase you are asking for will not affect the financial stability of the company in terms of profits and loss, then ask for it. But if it will cause the company to suffer its own income, then it probably isn’t a good time. Just wait and see if the business improves.

(2) Ask for benefits you may deserve as a hardworking employee. If you are an employee and your aim is to work hard for the success of the company, your high work performance will show. And when your boss notices your good performance, it will be easy for you to ask for any benefits you want and deserve.

(3) Phone benefits to facilitate communication. If your work requires you to make calls on behalf of the company, then ask for a cell phone plan so you will not suffer the burden of incurring and paying phone bills just to accomplish your work. This will help plug a hole in your expenses. Plus, why should you pay for something your company can benefit from? Apply this to other areas too such as gas mileage or business lunches.

The main idea is to show your company that you are worth the extra benefits and income, and that ultimately, your happiness and satisfaction will benefit them.

Jesse Brown is a wealth management and wealth preservation specialist. He is a best-selling author of the books Investing in the Dream-Wealth Building Strategies of African-Americans Seeking Financial Freedom and Pay Yourself First – A Guide to Financial Success. For questions or comments about this column, email browncolumnrecorder@aol.com.

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