Today we will have a guest post from Mari, she will be sharing some quick tips for the young professional who are just starting with their career about leveraging time and talent in order to achieve their financial goals in life.
Welcome to the workforce graduates of Batch 2016! Whether you already have a job or are looking for one, it’s wise to spend time to set your career goals and financial goals first. As a young professional, doing this will enable you to set your focus and direct your income on things that will help you build a well-off future. But with all the goals you’ll probably want to reach, where should you start? How best to set realistic long and short term objectives to increase your chances in achieving them? Based on the success stories of business tycoons and investors, time and talent are two of the best weapons you can use to increase your net worth. How?
Showcase Your Talent to Develop a Personal Brand
Having an unwavering desire to do what you love is a common trait among the world’s most successful people. So for starters, it’s good to discover what you love to do and make these the foundation of your career. Whether you like visual arts, architecture, law or technology, it helps to seek employment in an industry that you like. If the current skill set you have doesn’t make you qualified for your ideal job, it’s best to start looking for work that will equip you with the skills you need. This will give you enjoyment and a sense of fulfillment at work. As a result, promotions and recognition would come easier for you. By doing these, you’ll be known for what you love, which is the key to build a solid personal brand.
Invest Early to Leverage Time
Financial experts always advise people to start saving early in life. Good for you if you already got a job right after graduation because you can start earning immediately and put aside a portion of your income for savings or investment.
When it comes to saving and investment, it’s a good start to understand the power of compounding and how to make time your friend. Compounding refers to the growth of your money as the interest accrues each year for several years. For instance, if you put PHP 1,000 in an investment vehicle that gives a 3% ROI per annum, the annual yield will be PHP300. Cumulatively, the PHP 1300 will again grow at 3% per year to reach PHP 1690 on its second year. The cycle goes on and on. Imagine how much your money will earn after 10 years by just investing PHP 1000? And that’s just passive income, which means your money has grown while you sleep.
Starting the habit of saving early in life allows you to take advantage of your peak earning potential, putting your hard-earned cash where it will grow. By the time you have enough liquid funds, you’ll be able to buy properties or start a business. Thus, achieving your financial goals
It really takes discipline and consistency to control your money and achieve your financial milestones. By leveraging your talent and time, rest assured that you’ll be on the right track. Just browse financial management sites (e.g., Loansolutions.ph, Entrepreneur PH, Bloomberg, abrahamrlee.com) to educate yourself and stay up to date with the latest advancement in the industry.
Mari writes for Loansolutions to help educate people in making informed-decisions on taking out loans and becoming responsible borrowers. Being the COO, she feels it is her social responsibility to do so. Learn more from her as she shares tips, advises and stories on finance. Also, she’s fond of 9GAG, so you might read some random stuff over there.”