Are you looking for how to find a career?
“Planning is bringing the future into the present so that you can do something about it now.”
I’ve read amazing blog posts and points in personal finance books where the author mentions how they break down their paycheck and how they track where all of their money goes. This is amazing. I hate tracking my spending, yet there’s people out there that have conquered their finances just by doing so.
Personal finance advice usually assumes that one has a steady income (aside from raises and random windfalls). Why is this? Why do we assume that everybody has a predictable income?
My question to you guys is: do you want career with a predictable income?
With the end of my college run coming up in less than a month I’ve been really pondering this thought. I went from thinking that moving up the corporate ladder was just what business management college graduates did, to realizing that there’s more out there.
One can take risks and try something outside of the box.
Today I wanted to open up the discussion of a predictable income and financial tools.
Benefits of a predictable income:
You can plan well in advance.
With a steady income you can budget your money (retirement contributions, savings, vacation, and debt payments). You know how much money that you’re going to make and you can plan around this. This way you can set goals for how much money you’ll allocate towards each area.
You can sleep well at night.
For those of us that are not as risk averse as those that invest in the stock market and quit jobs when they’re not happy, we want to sleep at night knowing that we have a steady income and that our bills will be paid. A predictable income is ideal when you don’t want to deal with the swings that come with working for yourself. It’s much easier to sleep well at night when you know that money isn’t a problem.
Now that we looked at the main benefits, let’s take a glance at the setbacks of finding a career with a predictable income:
No entrepreneurial vision.
Okay nevermind, where are your guts? This is what I ask myself. How could I be afraid of income? Am I not smart enough to make money? Is my work ethic not strong enough to survive? When I think about holding a steady job, I think about why I’m not willing to take on a little risk.
You don’t exploit your situation.
As a twenty-something, living at home still or even living on your own, your actual fixed expenses are not that high at all. You don’t have to worry about kids. You don’t have to worry about feeding anyone but yourself. Why not exploit this situation? This feels like the ideal time to ditch the steady paycheck to take some chances.
At the end of the day, what kind of income do you want? Do you want a steady paycheck or do you want to take some risks with your income?
When looking at tips for how to find a career, please try to consider pay stability in the mix.