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What if one day, the com­pa­ny you are work­ing for just announced that you will not be get­ting a salary increase regard­less of your per­for­mance? How would you feel about that?

  • My morale as an employ­ee will be affect­ed since my expec­ta­tions are not met.
  • I will be sad because that’s the only hope I have right now to paid my bills!

Any of the two above or could even go beyond that will be your reac­tion. And for me, that’s a shock­ing moment that will define whether I will stay longer in the com­pa­ny or not. Because after all the hard work and time I invest­ed in the com­pa­ny, would it be right­ful to ask for a raise right? Well, that’s true but as life is unpre­dictable and so busi­ness is.

Sad­ly many peo­ple rely on a sin­gle income stream, they heav­i­ly rely on what their day job could give to them. I knew some mil­len­ni­als who was not even rais­ing a fam­i­ly, yet was being bom­bard­ed by the bills he need­ed to pay, hence stay­ing out of debt is near to impos­si­ble unless the com­pa­ny gives him a raise to be able to pay his debts and what if not? They will go to a green­er pas­ture.

But what most mil­len­ni­als do when they get a raise? They also raise their stan­dard of liv­ing. From hav­ing a FREE Cof­fee in the pantry, they are now opt­ing to buy a cof­fee from Star­bucks every day. Some save a few amount from their salaries and spend it all on their trav­els. Maybe this is out­ra­geous for you if you are like that per­son, you might be think­ing “Eh? this is my mon­ey, I will spend it because I only live once!”

If that’s how you think, you will prob­a­bly work for the rest of your life. But if you’re one of the peo­ple who does not know what to do when you’re not get­ting an increase, here are the few tips I’ve learned for you to be able to thrive in your work even there’s no salary increase.

1. Set a bud­get

I am very thank­ful for my men­tors who taught me the val­ue of mon­ey. I was start­ed bud­get­ing my mon­ey since last year after I have got­ten out my cred­it card debt. I learned that when you set a bud­get and dis­ci­pline your­self to fol­low it strict­ly, hav­ing a mon­ey won’t be a prob­lem.

SEE ALSO:  3 Truths About Money

I have a Chi­nese friend who was so dis­ci­plined in han­dling every mon­ey he has. He even has his own excel pro­gram that com­putes his dai­ly, week­ly, per­haps month­ly and year­ly expense and you know what he will do if the mon­ey in his record does not equal on the mon­ey he has on his hands? He will think about it for the entire day until he fig­ured out where it goes. And I admire such dis­ci­pline.

If you don’t want to be one of your few friends who com­plained all the time when your next pay­check will be next week, bet­ter set a bud­get. And per­son­al­ly I have my own bud­get and I did­n’t spend more than 10k every month for my expens­es.

2. Get out of debt.

One of the rea­sons why mil­len­ni­als are broke? They either buried in debt or plunge them­selves on what’s new and buy it. Get­ting out of debt could be the sim­plest way to decrease your expens­es and increase your sav­ings.

Most mil­len­ni­als today if they aren’t buried in debt, they’re apply­ing for mobile sub­scrip­tions that they don’t often use just to have the lat­est ver­sion of iPhone or Sam­sung Edge. Or some even dared them­selves to buy a con­do­mini­um or a car via loan with­out even think­ing twice or eval­u­at­ing their finan­cial sta­tus.

And yet, they com­plained every time “where did my mon­ey go?” Isn’t crazy it?

3. Build your emer­gency fund.

I have a friend whom I lend 3,000 pesos just for him to be able to go back to the Philip­pines with me. We are trav­el bud­dies then but when the time he’s hid­ing from me because of his debt, I will nev­er ever invite him because of his atti­tude towards han­dling mon­ey.

Every time I am remind­ing him when he will pay his bal­ance, his usu­al rea­son was some­one from his fam­i­ly was in the emer­gency so he need­ed to shell out the cash he was set aside to pay me. I don’t know if I’m going to believe that but I let God con­vict him of it whether it is true or not.

Build­ing an emer­gency fund is impor­tant because it will save you from a lot of trou­ble!

4. Explore oth­er oppor­tu­ni­ties to earn extra income from anoth­er stream.

SEE ALSO:  What God Teaches Me About Work

One of the rea­sons why peo­ple stay longer in their jobs is because they don’t have anoth­er stream of income that will sus­tain them. Today there are a lot of ways for you to earn an extra income, below are the fol­low­ing that’s very effec­tive.

  • Sell your skills to, UpWork or
  • Mary a rich man or woman
  • Become a youtube sen­sa­tion
  • Start a busi­ness
  • Sell a prop­er­ty
  • Invest your mon­ey in var­i­ous finan­cial instru­ments like Mutu­al Funds, Stocks or you can join PhilCrowd

But in the end remem­ber that more pay does not make the wrong job worth doing. If you think you are in the wrong job, bet­ter quit it and explore where you will fit at. In the end, mon­ey is just a tool and hap­pi­ness in the job you do should be the goal of your career pur­suit.

If quit­ting is not your option, you just need to look hard­er for oppor­tu­ni­ties in your job where you can use your tal­ents and gift­ings as an indi­vid­ual.

And by learn­ing this tips, not get­ting a salary increase won’t both­er you any­more because you are con­fi­dent that what­ev­er hap­pens you are well pre­pared. And besides the com­pa­ny is still pay­ing your time so use it wise­ly!

For me, whether there is no pro­mo­tion or salary increase, I know that every­thing comes from God. He is the one who will pro­mote me, He is the one who will give me a raise and my faith was not on my man­ag­er or how the com­pa­ny will per­form but my faith is of God who con­stant­ly pro­vides every­thing I need.

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I blog about my dis­cov­er­ies and learn­ings with per­son­al devel­op­ment, blog­ging, writ­ing, pub­lic speak­ing, and pub­lish­ing. I am a Jesus fol­low­er. Each month, I send out a newslet­ter with free tips on those top­ics.

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