If you are in the process of looking for a job, it is essential that you know your financial needs. It is important that you realize:
- The income you need may be different from the income you want
- The income you need is often different from the wage or salary offered by the employer
- The income you need may be different from the market value of the job that interests you
Knowing your income needs helps you find the right job faster. It saves you from wasting time and effort trying to get jobs that may not cover your financial needs.
Determine your financial requirements by identifying your expenses including housing, food, clothes, transportation, insurance, taxes, credit card debts, and any other monthly expenses. Be sure to add 15 – 20% to the sub-total to create a buffer zone to cover unexpected monthly expenses. The figure you arrive at is your total monthly financial need.
Once you know your financial need, you can identify the level of responsibility that pays what you need. With this information you can find out what qualifications are needed to rise to that level.
For more information contact GST Michigan Works! at 800-285-WORKS.