Do You Think Earning A Higher Salary Is the Endgame Of Improving Your Finances?
People ask about your profession, and that's a very common question. When you say you do a job, the next question people might ask is about your salary. People might guess how much you earn when they get to know what you do for making a living. That's a sensitive question. Most people may not ask this question directly.
But most people are interested to know how much you earn as a salary. If you get a higher salary, it is assumed that your financial condition is pretty good and vice-versa. Do you think earning a higher salary is the endgame of improving your finances?
Of course, when you make more money, you can do a lot of things. You will have more options to do with your earnings. And its impact will be higher. People show their work and skills to get a higher salary. Sometimes people switch from one company to another company when they get an offer of a higher salary.
What you do with your salary can change your financial situation. You have to spend money to live and that comes from your salary. You can create a budget and spend money accordingly. You are in control of what to do with your money. You buy what you need.
In case you don't have any savings, you will be in a vulnerable position if you lose your job. So you save money. Only having idle fiat currency in hand is enough to lose money. You don't see any loss because you have the same amount of money. As a matter of fact, the amount is the same, but you will not be able to buy the same thing next year.
The value of money falls over time. Inflation can eat your money in front of your eyes. You can definitely feel it every time you go to the market to buy something. If you cannot beat inflation, you are losing gradually what you hold in fiat currency.
Having a higher salary can be a starting point for improving your finances. You have to save, invest and manage your finances to improve your financial situation. Two people's financial situation can be different in spite of earning the same figure as a salary.
So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
If i will be having a higher salary then it is time to think of investments and businesses. I don't want to spend all my money and nothing will return.