100 Ways to Improve 1% – Part 12
This post will be another part of my series “100 Ways to Improve 1%”.
If you are on the FIRE journey, then chances are you have already modified the “big-ticket” items when it comes to your expenses, this is looking at exploring some more fine-tuning touches you can make to your everyday life.
This list has been derived from the people at ChooseFI
Below are the links to the other sections that are part of this series:
Part 1 – Exercise and Personal Growth
Part 2 – Debt
Part 3 – Emergency Fund Savings
Part 4 – Home Expenses
Part 5 – Transportation Expenses
Part 6 – Groceries and Dining Out
Part 7 – Shopping and Services
Part 8 – Internet, Phone and Entertainment
Part 9 – Travel and Sightseeing
Part 10 – Earning Extra Money
Part 11 – Investing and Retirement Planning
Part 12 – Job and Career
Part 12 – Job and Career
96) Learn How to Negotiate a Raise Effectively
It is important to ask for more money when you deserve it. But how often should you ask? If it has been a year since you discussed your salary with your boss, it may be time to revisit it. You may also want to strategically plan a conversation a month or two before your company will be carrying out their annual reviews.
Before you have the meeting, make sure you have done your research to know what your value would be worth on the marketplace. Do not come in with a combative attitude, express your desire to continue to work as part of the team and then throw out the request for a raise. Make sure you have a specific dollar amount when you ask.
97) Talk With Your Boss About Career Progression
What you have in mind to progress through your career and what your boss has in mind might oppose each other. You need to make sure that these ideals align because you do not want to waste your time progressing yourself in one area if your boss does not believe it to be relevant (unless you plan on leaving for a different job in the future where it would be relevant).
Talking to your boss specifically about what they expect of you will allow you to ensure you are focused on meeting their goals, which should pay dividends when it comes to salary review time.
98) Negotiate a Flexible Work Policy
If you are able to work from home and still carry out your typical work duties, then try and negotiate with your boss to start working one or two days a week from home. You will save money and time on commuting, and if the quality of your work was not impacted then your boss should not have an issue with it.
99) Networking
The industry you are most likely working in is a small one, and throughout your career, even as you change company you will often find yourself dealing with the same people as you progress. Actively networking will allow you to form connections with people throughout the industry, and all of a sudden your name will come to mind when opportunities arise.
100) Save of Invest The Difference With Every Raise or Bonus
You know you are already able to live on your current salary, so every time you start to earn more money, there is no reason why you cannot invest the difference to help build your portfolio. Lifestyle creep is a real thing and is a major reason why high income earners still have relatively low net worth, but if you are able to maintain your low income lifestyle on a high income, and invest the difference, you will be setting yourself up well for Financial Independence.
Part 11 – Investing and Retirement Planning
You can download a complete copy of the 100 Ways to Improve 1% here: