none

SAVE AND ACCESS MONEY TO SUPPORT YOUR NEW CAREER IN THE MANUFACTURING INDUSTRY

05-09-2016
by 
in 

When you’re just starting out in an industry, making enough money can be tough.

Yes, you might be getting paid, but if you’re on apprenticeship wages, you can still easily be thrown by unexpected demands on your finances.

A wise man once wrote, “to he who has shall be given”. It might seem like a catch 22, you want to earn money and further your career, but to do so, you need to have money to invest – in such essentials as tools, training, appropriate work wear, and travel costs to your workplace.

That’s not even to mention the financial curve-balls that inevitably come your way in life from time to time.

Perhaps you need to move house quickly to be closer to your new workplace, or maybe your car breaks down, and suddenly you must choose between a hefty car repair bill or being stranded without a way to even get to work!
Unforeseeable circumstances can catch us all out sometimes.

Here are some ways of accessing and saving money when you’re just establishing yourself in a job and need some extra cash to get through.

Short term Loans

If you’re looking for a short-term solution to cover you until you next get paid, a relatively low-interest pay day loan could be just the ticket out of a tight spot. Cash loans are typically approved quickly, with a simple online application process. You will have to meet some basic criteria and provide proof of ID. A payday loan is a great option to cover the costs of a vital house move or car repairs.

Loans from friends or family

Most people can empathise with the situation of getting your foot in the door of a new industry. Particularly, your friends and family who care about you and wish to see you succeed. As long as you are not a serial money borrower, your friends and family could be happy to help. Support from the people close to you could be used to pay for training relating to your new manufacturing role.
Track your spending

It is easy to run out of money when you’re not taking complete notice and responsibility for where it’s all going. Tracking your spending down to the cent may seem a bit extreme, but it is a great way of seeing where you can recoup a few dollars here and there by changing your money habits. Maybe that morning coffee and doughnut expense could be saved for work wear costs.

Create a spending plan

Otherwise known as a budget, a spending plan divides your living expenses into categories so that you can spread out your income to your best possible advantage. Use your spending plan to balance increased work expenses with less spending in other categories. When you gain control of where your money goes, you can save up quite quickly for things that at first seem out of your budget, for example, your industry's essential tools.

Keep your eye on the bigger picture

You might think that having a spending plan is all well and good, but without the discipline to stick to it, it may be useless. This is where your values come in. Remind yourself of why you need to stick to your spending plan. You are choosing not to waste money now so that you can have a better future. Write down your career goal and look at it every day. Carry it in your wallet so that every time you go to spend money, you are reminded of your priorities. Soon you'll be progressing in your new manufacturing career at a surprising pace.

Related news & editorials

  1. 02.08.2021
    02.08.2021
    by      In
    Done well, hydraulic servicing can save money and enhance safety.  It is the key to maximising uptime and reliability as mobile hydraulic machinery gets more sophisticated, and depends even more on fully functional and safe hydraulic hoses and fittings. Without them, machinery just stops working –... Read More
  2. piggy bank
    05.07.2021
    05.07.2021
    by      In , In
    Employers should be aware of a number of important changes to payroll and other obligations with the start of the new financial year,” says Innes Willox, Chief Executive of the national employer association Ai Group.
    “The recent Fair Work Commission Annual Wage Review decision increased national... Read More
  3. Yawei laser cutter
    16.06.2021
    16.06.2021
    by      In , In , In
    A commitment to providing outstanding customer service, staying abreast of local trends, and ongoing diversification led to Jmar Engineering in Shepparton, Victoria, celebrating it 25th anniversary recently.
    Jmar, founded by Mark and Janice Hooper, specialises in component manufacturing, repairs... Read More
  4. Matt and Ross
    09.06.2021
    09.06.2021
    by      In , In
    Simple, high-quality coffee is revered in Italy. So when an Australian of Italian heritage, who has been involved in the coffee business most of his life and visits Italy regularly, tells you that Australian roasted coffee is the world’s best, you sit up and take notice. And when he goes on to tell... Read More
Products
Suppliers