A woman is thinking of a paycheck which is not enough!
Paycheck is the income or wages that employees receive after the agreed period. It is generally recognized as a salary or compensation.
Millions of people wake up every day heading to work in different parts of the world. The most significant percentage of these people depend on their salaries all their life. Everything they do surrounds their paycheck. If the paycheck stops, their lives become miserable.
Let’s answer some questions;
What will happen if you got sick and you are unable to work again for a period of time?
Your paycheck will stop, the daily or weekly, or monthly salary will stop flowing in, but the bills won’t stop stressing.
Your trusted boss will not wait till you get well if you are diagnosed with a long-term disease. Instead, he will have a meeting with the human resource manager to discuss how to replace you.
You will be at home, weak, and unable to feed your family while your role at the company is given to someone else.
Your boss needs you only for the time you are young and strong to do the work. That is the reason people have to retire at a certain age.
What will happen if the company you are working for collapses?
We have all heard of big companies collapsing, and it’s not something new in the vocabulary. When this happens, the employees pack and go home back to the roots.
The paycheck will stop. This happened a lot in 2020-the year of coronavirus, as I noted in my previous article. Only the people who have planned will survive. There is no guarantee to get another job immediately.
Getting a job, leave alone a well-paying job, is not a walk in the park; I am a living witness to that, and many more can attest to that.
What will happen if you are fired or your contract is terminated?
Your paycheck will stop immediately. If you had no savings, you would start from scratch. If you had savings, it all depends on how you will use them.
A lot of people leave job every year with some savings from company Sacco’s, retirement plans. But, unfortunately, the most significant percentage are likely to misuse the money. It’s sad because it will take the shortest time possible.
No one will pick your calls or reply to your messages, even the people you called friends and family when you had the money. People will fear you like a plague; no one will want to be associated with you. Unfortunately, this is normal in the world that we’re living in.
What should you do when you read the above content?
It’s not easy, but it’s simple, leverage your time. They say time is money, and yes, it is indeed. You work for your boss for 8 hours a day, and you are left with a whopping 16 hours for a day. Do something constructive to your life. Most workers watch TV, go to the gym, or shop after 8 hours in their boss’s territory. Plan your time well and focus on climbing the ladder for long-lasting financial freedom. This is because when you are working for your boss, you are trading your time for money. In his book The parable of the pipeline, Burke Hedges explains vividly how you can leverage your time to build ongoing residual income.