Shouldn't invest before paying off debts.
But you're right, money generates money. That said, in today's environment you need a lot to be able to generate a living from it.
Just want to be minted.
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Shouldn't invest before paying off debts.
But you're right, money generates money. That said, in today's environment you need a lot to be able to generate a living from it.
Some value isn't tangible like a sale, or a product being made.
I sit at a desk, my output is my designs/documentation that give the guys the build the things the guidance and knowledge they need to do the job well and effectively. And to make decisions when things don't go as expected.
Contrary to popular belief, people are paid amounts because that is what they are worth to 'someone' with the money to pay. If you aren't worth the money, they can let you go, if they don't pay you enough then you can move on.
I'd be interested to know what you do?
I'm not 'minted' but will soon have near 2k disposable per month.
The journey here was luck, then hard work and aptitude.
I went to University to pursue a career in IT, but soon grew tired with the subjects taught on my course. So after completing year 1 I moved to a different course at a different University. A few months in, I was again unhappy with the course material. I felt I could learn far more myself with books and hands on work, so I quit.
My intention was to learn more about web development and try and get in at the bottom. So I took a job at Currys while I tried to learn in my spare time. Taking the job at Currys was perhaps one of my luckiest decisions ever. After a year, one of the guys there left to become an IT recruitment consultant. Several months into his role, knowing that I was an "IT guy" wanted to put me forward for a job he had. A company weren't able to find enough skilled consultants, so they wanted candidates with aptitude to train. From 50 applicants, I was one of the 5 offered the job as a trainee consultant.
It was a niche role. I would be trained to install and configure enterprise monitoring software (IBM). I knuckled down and learnt the in house training easily and started to excel. I was the first in pass my exams and get on site for customers. The other 4, by the way, had degrees and I didn't.
The next 4 years I worked hard, working on many pretty rubbish projects in the middle east, but I was doing well and recognised within the company as being good at my job. After sometime however I wasn't happy with the travelling aspect so spoke to management. They found a new position for me working as a remote consultant handling "support" - same stuff as on site.
A few years in this role and I noticed that work was dwindling and at the same time, I was approach by another company to work for them. Seems that one of my old managers had a good word to say for me in his new company. I did well in the interview, and was offered the job, however I was countered offered and stayed in my role with promise of new training.
The work started to dry up within my role after sometime, and I noticed some of the consultants were leaving. It's worth noting at this point that along the way our company was bought by a larger company that specialised in many different software. They were focusing on cloud software, and the area I worked in ESM was dwindling. I took this opportunity to cross train (which I was promised in my counter offer) into the new cloud software which was a saving grace, as the ESM side of the company completely collapsed.
I was now working in a traditional style support role (level 3) on the cloud software. It was more my thing with elements of the web dev I had once long ago had a passion for. So with some aptitude and hard work I was able to become very technical and valuable within my role. My manager left and I was offered the job, and I turned it down, I didn't want to be a manager, I preferred a technical role which is where I do well.
Fast forward a few years, I'm now essentially a senior technical consultant, working remotely on a variety of projects, from home 3-4 days a week. From being hired as a trainee to today it has been 10 years with this company (although we have been bought a few times). My drive to be the best at my role has made me very valuable to my company, and working hard on all my work means customers sing my praises (this is important). I'm now earning £72k pa working from home under a manager who is a dream.
I guess what my story is trying to show is that it's not a straight forward, clearly defined path. There are however themes for success, that without those I wouldn't be where I am today.
The journey here was luck, then hard work and aptitude.
I went to University to pursue a career in IT, but soon grew tired with the subjects taught on my course. So after completing year 1 I moved to a different course at a different University. A few months in, I was again unhappy with the course material. I felt I could learn far more myself with books and hands on work, so I quit.
My intention was to learn more about web development and try and get in at the bottom. So I took a job at Currys while I tried to learn in my spare time. Taking the job at Currys was perhaps one of my luckiest decisions ever. After a year, one of the guys there left to become an IT recruitment consultant. Several months into his role, knowing that I was an "IT guy" wanted to put me forward for a job he had. A company weren't able to find enough skilled consultants, so they wanted candidates with aptitude to train. From 50 applicants, I was one of the 5 offered the job as a trainee consultant.
It was a niche role. I would be trained to install and configure enterprise monitoring software (IBM). I knuckled down and learnt the in house training easily and started to excel. I was the first in pass my exams and get on site for customers. The other 4, by the way, had degrees and I didn't.
The next 4 years I worked hard, working on many pretty rubbish projects in the middle east, but I was doing well and recognised within the company as being good at my job. After sometime however I wasn't happy with the travelling aspect so spoke to management. They found a new position for me working as a remote consultant handling "support" - same stuff as on site.
A few years in this role and I noticed that work was dwindling and at the same time, I was approach by another company to work for them. Seems that one of my old managers had a good word to say for me in his new company. I did well in the interview, and was offered the job, however I was countered offered and stayed in my role with promise of new training.
The work started to dry up within my role after sometime, and I noticed some of the consultants were leaving. It's worth noting at this point that along the way our company was bought by a larger company that specialised in many different software. They were focusing on cloud software, and the area I worked in ESM was dwindling. I took this opportunity to cross train (which I was promised in my counter offer) into the new cloud software which was a saving grace, as the ESM side of the company completely collapsed.
I was now working in a traditional style support role (level 3) on the cloud software. It was more my thing with elements of the web dev I had once long ago had a passion for. So with some aptitude and hard work I was able to become very technical and valuable within my role. My manager left and I was offered the job, and I turned it down, I didn't want to be a manager, I preferred a technical role which is where I do well.
Fast forward a few years, I'm now essentially a senior technical consultant, working remotely on a variety of projects, from home 3-4 days a week. From being hired as a trainee to today it has been 10 years with this company (although we have been bought a few times). My drive to be the best at my role has made me very valuable to my company, and working hard on all my work means customers sing my praises (this is important). I'm now earning £72k pa working from home under a manager who is a dream.
I guess what my story is trying to show is that it's not a straight forward, clearly defined path. There are however themes for success, that without those I wouldn't be where I am today.
Shouldn't invest before paying off debts.
Oh I dunno - I've a couple of c/cards with a 17 and 22k credit limit respectively, both with 0.9% fee (actually, one's slightly higher IIRC) 0% 20 & 24-month offers. They've both been dumped in my savings.
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@willhub
Did you have look at my post, I think it will help you
Did you have look at my post, I think it will help you
@LiE I followed a similar path (but finished a degree first) and have to agree with what you say. If you aren't lucky enough to have that idea and start your own business then there are two main ways to earn cash;
1) risk/travel based job - those who work away from home tend to earn more through that sacrifice being financially recognised or those who work in risk based industries (cable diving springs to mind) you earn the money but it comes with a personal sacrifice.
2) as LiE says buckle down, work hard and progress the amount of people who whinge about what they earn but then don't want to put the graft in staggers me.
I went through a stage earning an amazing salary for my age (60k+ in early twenties) but left that for family reasons. In my new company I settled down earning around 20k less but I got the work life balance I needed but throughout that I grafted my knackers off and twice turned down promotions offered to me (without applying) because of the reputation and skills I built up. Life changed again recently and I have moved into progress mode and was quickly promoted within 6 month of making the business aware I wanted it. A year after that I've been unofficially offered 2 options for my next step as they expect the incumbents to be leaving which will take me into a global role. Not quite earning the money LiE is earning but not too far off and in excess of what I earned when younger.
If you want money and you aren't lucky enough to inherit it or have that golden idea and start your own business you need to knuckle down and graft and in most companies this will be recognised and you will move on. It does take some sacrifice but there are hardly no jobs where you get a big amount of cash for doing very little, that's just reality.
1) risk/travel based job - those who work away from home tend to earn more through that sacrifice being financially recognised or those who work in risk based industries (cable diving springs to mind) you earn the money but it comes with a personal sacrifice.
2) as LiE says buckle down, work hard and progress the amount of people who whinge about what they earn but then don't want to put the graft in staggers me.
I went through a stage earning an amazing salary for my age (60k+ in early twenties) but left that for family reasons. In my new company I settled down earning around 20k less but I got the work life balance I needed but throughout that I grafted my knackers off and twice turned down promotions offered to me (without applying) because of the reputation and skills I built up. Life changed again recently and I have moved into progress mode and was quickly promoted within 6 month of making the business aware I wanted it. A year after that I've been unofficially offered 2 options for my next step as they expect the incumbents to be leaving which will take me into a global role. Not quite earning the money LiE is earning but not too far off and in excess of what I earned when younger.
If you want money and you aren't lucky enough to inherit it or have that golden idea and start your own business you need to knuckle down and graft and in most companies this will be recognised and you will move on. It does take some sacrifice but there are hardly no jobs where you get a big amount of cash for doing very little, that's just reality.
Shouldn't invest before paying off debts.
Was thinking of student loan and mortgage, though MacRS4 has given another scenario.
Yeah, stoozing. Used to be worth doing, but I don't bother, it's too much hassle for a pretty slim return. Plus being massively drawn on credit cards isn't great for your credit score.
I'm sure there will be exceptions to the rule (0% finance being one), but student loan and mortgage interest rates will (on average) be well above savings rates. I paid my student loan off early - was paying something like 3.5% and that was before they hiked rates up.
A lot will depend on your employer. If you work for a **** company, everything is going to be worse. I work for a people first company, who focus on nurturing the employees.
So yes, move on.
I've made more than it costs, and for zero effort, so it's money for nothing. As for the c/score comment - sure, if I were looking to get a mortgage or something I'd agree, however, I'm not, so it doesn't bother me in the slightest. It's the only debt I have to be fair.
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I know a quote from the first page, but i have only just seen this post.
Well said REGY!, I find this can be very true especially if your use to working for your money with job satisfaction.
About a year ago I took a new contract and went from owning my own business to being employed for the first time in a decade which I thought would be the best thing ever as the pay was silly and the work load was low or rather what I now see is too easy.
Most people think I’m mad looking to give up a well-paid easy job, but I think without job satisfaction money will mean nothing as you will end up with the Monday – Friday blues and then it is all downhill from there.
As others have said there is more to life than money which I now realise after years of climbing the career ladder and trying to earn more and more. Only to find that it can be worse once you reach your goal than being at the start of a career path.
There certainly are
My student loan is something like 1.25%. Some of my shares pay 8.5-9.5% dividends (not your typical high street savings accounts, but still FTSE 100 companies, so not obscure).
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I am not particularly clever, am not in a management position and am also very lazy and have never really grafted during my career. Yet I manage to earn above £50k living in the North East in my mid 30s.... I also mostly enjoy my job and can 100% switch off as soon as the clock hits 5pm. Thinking about it I have never been promoted either.... Guess I just must be lucky.
What industry do you work in?
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Are you after his job
Are you after his job
If he’s not I am.
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