Be the best you can be: <br> Mmaximising your financial potential

Work to live or live to work?

If you're anything like me then you fall into the first category. Don't get me wrong, I enjoy what I do, but I do it so I can fund my lifestyle. Now this isn't some extravagant lifestyle that I have to work 12 hours a day, seven days a week to pay for, but when I'm not working I want to be able to relax and have fun.

So no matter what people say, work is about the money. This will only change once your income reaches a level that you no longer have to worry about your finances and you are free to live your chosen lifestyle.

To a lot of people this may seem like an unobtainable goal, and for some of those people it might be, it's a reality of the world we live in. But there are steps that you can take to increase your financial potential.

So where do you start?

The first and most important step is to evaluate your money mindset. Money plays an important role in life and affects both your beliefs and values. Whether you think it is the answer to all your problems or it is the shackles that keep you under 'the man's' control, your attitude towards money will affect your finances.

If you view money as the key to happiness, you'll never be content because what you have will never be enough. Undoubtedly when you view money as the source of all evil the same consequences can be seen. It is a good idea to have a healthy attitude towards money. View it as a tool to acquire and accomplish the things you aspire to.

The next step is to set yourself some goals. This can be a daunting task, so take the time to assess your situation and what it is you want out of life. This will help you figure out what kind of salary you need to earn to get there.

Make your goals attainable. There's no point in setting a goal to earn one million dollars a year, because to put things bluntly, you're most likely just setting yourself up for failure. Sometimes people's goals can go in the other direction. They'll set goals for themselves with no real challenge in them, causing their professional life to become stagnant. So think seriously about your goals, and don't sell yourself short.

What can you do to achieve your goals?

Learn, learn, and learn some more ! Refusing to do so is an acceptance of mediocrity, and a s more and more studies are carried out, there are more and more people coming into your profession with fresh ideas and information, ready and waiting to pull the rug out from under you. The things you know and experience you have gained are becoming less significant as the days pass. So to earn more you must learn more. Gain information and skills that make you a valued employee. In doing so you are ensuring you are up to date with the latest innovations in your field and increasing your earning potential.

You've up skilled - where to from here?

You've taken necessary steps in order to become a wanted 'commodity' within your industry, now you must consider where your current employment is taking you. Is there room for promotion within your company? Or is it time to start looking elsewhere for opportunities?

If you want to stay with your current employer your next step is the one that most often puts people off - asking for a raise. If you just settle for what you already have then you are limiting your potential. Even the most confident person can be reduced to a quivering mess when faced with this task, as the prospect of rejection is often petrifying.

Make yourself familiar with your company's policies regarding raises. If increases in salary are offered once a year, then record your accomplishments as you achieve them, measuring both the before an after affects. It also helps to express the ways in which you aim to play a role in the company's future successes.

Be straightforward and be prepared. Without any documentation of your accomplishments you are only putting yourself on the spot when the time comes to discuss your raise. Tell them exactly what you want and why you deserve it, not why you need it. This way you can easily identify your worth and value to the company once the yearly pay review comes around.

To ensure you are fully prepared, carry out some research into the amount you should be getting paid. How much are others in your position (or similar industries) being paid? How does this compare to your salary? Going to your employer with a reasonable request will show you are serious about your demands and will give you more confidence and make the negotiation process a little bit easier.

It helps to remember that most employers anticipate raise requests. If you deserve a raise and it hasn't been offered, then they expect you to ask at some point. Whatever you do, do not threaten to leave. This will most likely ruin your chances of receiving a raise or any kind of career enhancement in the future.

If your request for a raise is rejected then it may be time to look elsewhere to increase your income. You may have been rejected due to budget restraints rather than your skills and the effort you put into your job so don't be discouraged. Carry out your search for a new job professionally and leave your current job on good terms.

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