In a perfect world, employment fulfills the needs of personal satisfaction, professional advancement, and income stability. In reality, CBS News reports that over 55 percent of Americans are unhappy in the workplace. If you are among the disgruntled workforce, the time to find better employment is on the horizon.
While securing your dream job is a tall order, credit repair goals require a steady income to accomplish their objectives. A positive career should also help you focus on the areas of:
• Debt reduction: Almost every consumer faces the burden of debt at some point. While a moderate balance can actually help your credit score, too much debt can tip the scales against you. Find an income that allows you to keep your credit utilization ratio below 25 percent.
• Timely payments: Payment history accounts for 35 percent of your credit score. Maintaining a steady income guarantees the cash flow needed to keep your bills current and avoid credit repair blunders.
• Savings: When you can’t predict the future, liquid savings are imperative to protecting yourself in cases of financial emergency. Finding a job that provides a fair income allows you to give this credit category the consideration it deserves.
So, how do you know it’s time to find a new gig? Review the signs below.
1. You have no benefits
Benefits extend beyond happiness in the workplace. If your employer offers no medical coverage, paid time off, or 401(k) matching, the time to find another position is now. Unpaid medical bills and lack of income are among the top reasons for credit repair. Protect your future by ensuring that health and welfare are a part of the employee package.
2. Layoffs are imminent
Thousands of companies are facing layoffs in this tough economy. Credit repair goals can’t survive without income, so take some action before receiving a pink slip. Look for employment that offers more stability than your current position. Job hunting with an income will help you avoid desperate decisions and give you more freedom to choose the ideal position.
3. You are losing money
It’s sad but true: In some cases, keeping a job can actually cost money. If your salary is modest, the cost of commuting and buying lunch could equal a huge chunk of your paycheck. If you have children, working long hours usually means inflated daycare costs, an expense that can easily eclipse a sizable paycheck. Find a position that understands the need for work/life balance. If your goal is aggressive credit repair, find a job that allows you to achieve it.
4. You are undervalued
Fair market value is a concern in any job description. Are you working for a bargain price? While many companies cannot afford to reward their employees with merit-based raises, you should be provided with compensation to cover inflation. Do a job search to see what your colleagues are earning elsewhere. Don’t allow your qualifications to remain underrated.
5. You hate your job
An unhappy worker is usually an expendable worker, a trait that will not help you with credit repair. Employers are looking for an engaged and effective staff. When nonchalance consumes the workday, the chances of losing your job are high. Change your attitude by finding a position you enjoy. Credit repair needs are best served by a long-term career, one you can build with the right tools.