Walter Okpala: How do you manage your income?

Walter Okpala: How do you manage your income?: One of the problems facing workers is their ability to manage their incomes. The reason is that workers always receive their pay checks on ...

How do you manage your income?

One of the problems facing workers is their ability to manage their incomes. The reason is that workers always receive their pay checks on defined dates. Sometimes, the money is finished before the payment day. And that is the reason for the question: how do you manage your income?

     It is important to remember that your income is your wealth. The only way one can build wealth is through his or her income, period. So, if you do not build wealth with your income, how else can you do that? "One's ability to build to be wealthy does not depend on how much make, but on how much was wisely invested". In the next posts, we will look at how workers can build wealth from their income.   

Walter Okpala: I lost my job despite --------------- 2

Walter Okpala: I lost my job despite --------------- 2: In my last post, I wrote something about the possibility of one losing his or her job despite having good skill and good behavior. I mentio...

I lost my job despite --------------- 2

In my last post, I wrote something about the possibility of one losing his or her job despite having good skill and good behavior. I mentioned that one of the reasons is related to market forces, that is, external factors. 

     Another reason is not caused by external factors. A worker may have good skills and behaves well with everyone. However, he or she may lack the ability to work effectively or have productive result in teams. This condition may have been identified by assessment and feedback. But, the worker may not have improved on the subject and, consequently, be fired. Organizations do not tolerate this flaw. 

     Although an employee has good skills and behaves well individually with colleagues, he or she does not repeat that at the collective level. So, you should beware of this!      

  

Walter Okpala: I lost my job despite ..................

Walter Okpala: I lost my job despite ..................: In my earlier posts, I have written about having the right skills and good behavior. However, some people told me that they have got all th...

I lost my job despite ..................

In my earlier posts, I have written about having the right skills and good behavior. However, some people told me that they have got all those requirements, but lost their jobs. What should I do?

     I know many people are also asking the same question. Before, we look at what one should do, let us first understand that there are many reasons why companies fire their employees. You may lose your job, not because you are bad, but because of market forces and their consequences. A company may lose its market share or affected by new government policy. It may also be forced to relocate to a cheaper country in order to meet the competition. In all these conditions, a company is obliged to restructure and reduce its staff.

     It is also good to say that no organization likes firing its staff. However, organizations do so under some circumstances. Now, how does one know he or she was fired as a result of incompetence or because of external factors? One can note this by observing your superior when giving you the information. When caused by external factors, some of the bosses almost starts crying when giving the information because they are losing a valuable staff. When the cause is incompetence, there is no emotion attached to it because they want to flush out a bad staff. 

     IN my next post, we will look at another reason why companies fire employees with right skills and good behavior.          

  

Walter Okpala: Good careers for the future 2

Walter Okpala: Good careers for the future 2: In my last post, I asked some questions which should be answered in order to prepare for a good career in the future. However, it will be g...

Good careers for the future 2

In my last post, I asked some questions which should be answered in order to prepare for a good career in the future. However, it will be good to firstly define what is meant by a good career. I understand that different people have different needs which when attended, gives them satisfaction. But, whatever our needs may be, there are fundamental ones that must be met. They are food, shelter, clothing, and utility bills and tax. 

     I included tax here because many people forget that one must pay tax. This is one of the barriers in financial planning of workers. For example, a worker on $100,000 salary per year should not have lifestyle of someone with $100,000 income, but a lifestyle that supports about $70,000. Other variables like shelter and clothing depend on the individual. In other words, one must determine what type of neighborhood he or she wants to live in and the types of clothes he will like to wear. In the same way, he should determine the type of car to ride. Also summing educational of children and their maintenance. 

     Through this simple arithmetic, one can estimate the minimum amount necessary to satisfy his or her needs. It is ironical that many people do not think about these factors while choosing their careers, but the should. With the exception medicine and allied courses which will always be in demand, one has to look for information about other majors before embarking on them in order not to suffer deception or depression after graduating. Think about this!      

  

Walter Okpala: Good careers for the future

Walter Okpala: Good careers for the future: What are the better careers for those preparing for the future? How are you preparing your children for their careers in the future? How ca...

Good careers for the future

What are the better careers for those preparing for the future? How are you preparing your children for their careers in the future? How can you predict that a certain career will be good in the future? How do you define a successful career? These and other questions will be dealt with in the coming posts. So, watch out!