From a financial perspective, investing in your career may be much easier than you think. If you are like many working adults, you probably have some discretionary income. Discretionary income is the amount remaining from your income after you have paid your taxes, insurance, rent/mortgage and all other life essentials such as your housing, food, and clothing.
How much discretionary income do you have? Use the Disposable Income Calculator to make that estimate. After completing the calculator fill in the blank for: "That leaves you per hour for whatever you want."
This estimate suggests that you have $ in discretionary income each year.
Can you re-invest some of your disposable income in yourself - without changing your lifestyle? The answer is probably yes.Try the following exercise:
1. Estimate how many books you have purchased in the past year (non-reference). Estimate how many of them you have read or realistically plan on reading in the next year.
2. Count the number of shirts you have that are less than 3 years old. Count how many of those you have worn in the past year.
3. Count all of the items in your refrigerator. Count all of the items that are either past their expiration date or, if they are fresh, cannot possibly be consumed before they spoil.
4. Count how many corded, cordless, wired, or wireless things you own (select your favorite category -- power tools, electronics or kitchen gadgets). Count how many of these you have used more than twice since purchasing them.
Based on this rough estimate, without missing anything you currently use, have, or enjoy, you could reclaim % of your discretionary income or $ by merely protecting it from wasteful spending.
How could you re-invest $ into your career? The possibilities are endless. Here are some examples:
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