Debt Free

Prosperity depends upon industry. Both as a nation and individuality, the height to which the economy rises can be directly linked to the industriousness by which we go about our business. Working hard is a tradition in America and many millions have been justly rewarded for their efforts. Our history is replete with tales of poor souls rising from the street from whence they came to command great personal wealth. So to, has our nation risen from humble beginnings of a few intrepid souls seeking opportunity and prosperity in a new and uncharted land.

Given there is a direct correlation between industry and prosperity, you may be thinking, “Great, I'll just go out there and work even harder than I do already. Then I'll find the success I've been looking for.” That would be great if that's all it took. However, with any endeavor, your reward is not always directly proportional to the effort expended. Sure, you've got to work hard, but it's even more important to work smart. There are thousands of day laborers out there that work damn hard every day, toiling away in the hot sun or freezing cold, but many of them are still deep in debt and/or living paycheck to paycheck.

The father of a good friend once responded to the statement “ Gee dad, I wish I had your money.” with “Son, if you had my money, you wouldn't have my money.” In addition to working smart, you've got to be smart with at least some of the money you're pulling in every day. The amount of money you've got to be smart with is directly proportional to your income. If your income is comparatively low, you need to be smart with every last dime in order to get ahead. If you've climbed the income ladder a few rungs, you have a bit of discretionary income to play with.

Here are some question you can ask yourself to make sure you're working smarter, not just harder.

1 – Am I leveraging any assets? Leverage is the key to wealth. One way to work smart is to multiply your efforts so your results are far in excess of what you'd expect. If you're not leveraging any assets with the effort you're expending, how can you incorporate leverage in what you're doing now to increase your productivity and profitability? If you are in sales or run your own business, how can you use your existing accounts to bring in new ones? If you're in production or construction, how can you multiply your effort in order to do more without expending any more effort. Can you capitalize on the efforts of others?

2 - Am I getting paid what I'm worth, or the top dollar in my field? If you're aren't maximizing your income for the time you're expending, why not? Do you need a raise? What's keeping you from getting one? Seriously think about that question for a few minutes. Actually make a list of what you feel it would take to achieve a raise. How can you maximize your perceived value to your employer? What must you do in order to get a raise. Like any other endeavor, you need to set goals and objectives, map out a plan, and focus on achieving it. Weather you shop your talent to other employers, or maximize you income with your current one, make sure you are getting paid all you're capable of.

3 – Is it smart to be in my field? Face it, there are some endeavors where the return is limited. No matter the skill, dexterity and intellect with which you attack them, you'll never see much return for your efforts. In that case, it's time for a change. You don't want to be personally limited by inherent limits of the job or business so that you'll never bring in the income you desire, no matter the level you may attain. You can be the best damn buggy whip manufacturer the world's ever seen, and business just ain't going to be that grand, right?

You may be unable to achieve a level of income in your field that will provide income satisfaction (although studies have shown that income and job satisfaction are not directly related). A study of German workers found that on an income satisfaction scale of 1 – 10, with 10 being completely satisfied, just over 50% of workers reported income satisfaction rankings of 7 or lower. Given that, you may want to expand your options.

If you work smart, not just like a dog on a treadmill, you'll stand a much better chance of ending up happy and debt free.