Inflation: What to Do If Your Salary Is No Longer Sustaining You?

Inflation: What to Do If Your Salary Is No Longer Sustaining You?

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What Do You Do If Your Salary Is No Longer Sustaining You?

This is a question most salary earners have often asked themselves, especially in the current economic downturn. The inflation in Ghana is constant, the economy is not stable. You can go to the market today and buy something at one price and return in a few days and it’s a higher price. Unfortunately, your salary remains the same.

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If the prices of your needs are increasing and your salary is not increasing to match the cost, then you will definitely agree with me that there is a problem.

-So What Is the Solution to This Problem?

There are four practical options you can exercise depending on what is most suitable for you:

-Master A New Skill

If you want to earn more, a good way is to master a new skill. It has to be a skill that you can actively use in your job description and produce better results. It could be a new certification, training or learning a second language such as French. Apply these skills in your daily tasks and call the attention of your direct supervisor to them.

-Change Your Location

Geographical location also affects inflation, so where do you reside? Where do you purchase your needs? It is possible that all of these have a high effect on the area you are based. This is because the standard of living is not the same.

For instance, accommodation, feeding and other life necessities are more expensive in some part of Accra hence Geographical location is very important.

-Get A Side Hustle

Don’t start a side hustle if you don’t have passion in that area. Many people fall victim to these. If you don’t have passion in the area that you are starting your hustle when things get tough, you will burn out. So, when starting always consider if you have passion in that area.

-Consider A Career Change

A poor salary is more than enough reason to start looking for a new job. Most people work to earn, and if you’re not earning enough, it is good to explore other options. Another option is to transit. Most people these days are transiting to tech by acquiring the required skills and applying to jobs based on those skills.

The truth on the ground is, the average of those who are already working are trying to keep their jobs increases, others try to reduce their age to avoid retirement and so it is more difficult for young people to get employed.

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A lot of graduate are busy looking for a good paying job here and there everyday. But the truth is, the world of work is shrinking by the day and as such there are no jobs to absorb the number of graduates been produced by our universities any longer.

So, my brother and sister stop looking for white collar job and dirty yourself to survive.

By: Michael Djan

French Tutor and Digital Marketing Blogger/Content Writer and GhanaWeb Professional Reporter/ frencheducationgh.com

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