Tuesday Tip of the Week: Your Greatest Asset (continued)
Welcome back to another edition of “Tuesday Tip of the Week.” Yesterday I spoke about our most valuable asset, our employment. The main goal of bringing this topic up is for all of us to truly understand what employment means to us. Most of us think our job is here to give us money and then we buy stuff. That is only partially right. The acquisition of money is what allows everything in our lives to occur. It dictates everything from paying bills to saving for a house, to protecting our families and saving for retirement. I see one thing a lot with the younger generation. Even some older people have a nonchalant attitude towards work. This is extremely detrimental to your livelihood. Here is my ranking system when it comes to priorities:
1) Family and certain friends
2) Work
3) Everything and everyone else
Period. Here’s why I feel this way. This isn’t because I love working 14 hour days. It also wasn’t because I enjoyed slinging beers to people for 12 years. It was all about the money baby. Money bought me debt freedom. Money bought me savings. Money bought me the opportunity to change careers and actually do what I love, help others with their money. It was taking my employment seriously that allowed all this. Here are some things you can do to really focus on your employment.
1) Make yourself irreplaceable
This is simple but effective. Work your ass off. When it comes down to laying people off or downsizing who do you think gets to keep their job? That’s right, the people who bust their butts. Does it suck when places trim staff? Yes, it does. Does your boss deserve your love? Probably not. Here’s the point. We need to stop thinking about working hard as something we do for someone else and more of something we do for ourselves. By working hard we secure our position and make ourselves irreplaceable. Just from doing this it doesn’t mean you are untouchable, but your chances are better.
2) Upgrade your skills
Does your job offer on the job training? Do they offer education matching? Do they offer anything? Well if they do take it. Take it all. First aid, WHMIS, volunteering, health, and safety are all decent upgrades. Think of it as constant resume building. If your boss all of a sudden decides to replace you with a robot what are you going to do? Many of us feel that our work experience alone will land us that next job. What do you do if the next guy has the same experience but also a ton of volunteer experience? Life’s a competition and you have to win every day. Differentiate yourself and transcend always.
3) Cherish and Protect what you Have
I say it a lot but you have to protect your income. What that means is saving a portion of it instead of blowing it on stupid crap. It also means being protected against injury or illness. If you have group insurance through work make sure you know what you are covered for. If you don’t have group coverage look into getting personal coverage. If your income were to disappear because of health it could ruin all your goals and dreams. Having coverage can allow you to still do the things you want to do in life even if you stop working.
Work has to be taken seriously. Not because you love it or even like it. Every day you go to work you are building equity in yourself. Little by little you are adding to your skills and adding to your bottom-line. You have to build that equity, enhance it and protect it. When you focus on that equity you then have the grounds to demand the type of respect you deserve. If your employer won’t give you that respect, find one that will. It is because you know you are worth it and if your boss doesn’t know it, tell him to kick rocks. It all starts with you though, so get going.
Thanks for reading my Tip of the Week. Tune in tomorrow for WTF Wednesday, my weekly rant on things that waste your money!
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” – Thomas A. Edison
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Joseph James Francis is a Financial Advisor. You can find him on various social media platforms and at budgetboss.ca.
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