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Could Your Job Title Help You Save Money or Increase Your Income?

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Many people pursue certain career paths they assume will be worthwhile. However, they don’t often think about how having a certain job title might help them save money on specific things or increase their overall incomes. When you have a mindset like a CEO, you could enjoy a better personal finance situation even if you haven’t yet reached the top rung of the career ladder.

Ask About Lesser-Known Job Benefits

You probably know if your job offers benefits such as a 401k plan or health insurance but what about discounted gym memberships or savings on opportunities to continue your education? Those perks may also be available at your job but not as widely promoted as some of the other advantages.

Before you invest in something that your job may offer a discount on, it’s worth having a quick chat with the human resources manager or reviewing the paperwork that outlines your benefits. Even if the perk you’re most interested in isn’t offered at your job yet, if enough people ask for it, it may be soon.

Sell Yourself at Your Annual Review

In order to get to where they are now, it’s almost a guarantee that all CEOs had to promote themselves heavily and give hard evidence about how they helped the company cut operating costs, make substantial gains, or figure out better ways to do things. You may not be very comfortable with reminding others of all the great things you’ve done but if you do that while at work, it could result in a pay increase.

It’s especially wise to get ready to sell yourself during an annual performance review. Before going into your review, be prepared to respond as much as you listen. It’s a good idea to anticipate the kinds of questions you may be asked and think about how to respond if they come up. When you can show how you’re composed and don’t flake out under pressure, that’ll speak volumes.

Understand That Some Initially Costly Things Are Worth the Investments

You’ve almost certainly heard about some company executives who have taken what some people would view as major, costly risks that really paid off in the end. Sometimes it’s necessary to do that in your own life too, especially in terms of events that allow you to meet other people in your field and establish mutually beneficial relationships.

For example, if you’re a professional wedding photographer and there is a well-respected conference happening in a couple months, you might think about going. However, if the ticket cost is more than expected and you have to fly to get to the event, you might balk. In a case like this, make sure to carefully weigh the pros and cons. You’ll probably discover that your willingness to invest in the networking opportunity now could help advance your career later.

Know How to Accurately State Your Job Title

When you’re just casually talking to people about what you do, you might not bring up your actual job title and may even try to pass off your career as being less important than it really is because you don’t want to sound like you’re bragging. However, when you’re shopping for insurance to cover a car, the job title you provide could cause premium costs to go up or down.

If you’re not sure what your job title officially is and don’t want to speak to a human resources representative about it, internet-based research about work that’s similar to yours could help you nail down an answer. Your newly acquired knowledge could help you save on something you need to buy anyway.

The tips above may seem like unconventional ways to save money or boost your income, but they could help you make progress. Start practicing them soon.

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