Life Lessons in How Inflation Impacts Your Salary

Inflation seems to be a topic that is flying around a lot these days. Not the most exciting topic, I know, but it’s definitely something that we all have to think about. Especially when it comes to your salary. 

So how does inflation affect your salary? Well, let’s break it down together. 

You’re making less now compared to years before

Unfortunately, the standard salary increase of 2-7% each year is sadly not having the impact you may think it has. This means that you are making significantly less than you were 5 years ago. 

And too often, what I see is that professionals, and professional women in particular, are staying in roles too long. They're letting these jobs suck the life out of them. They're not making enough money in their industry. And then what ends up happening is that they are like, whoa, I'll just wait till I get a raise or I'll just wait till I get a promotion.

And then they're not really getting the salary increases, the raises, the promotions, or the significant salary benefits that they should be getting given their expertise, and they're drowning in debt. Or they're not being able to save and build the wealth they desire in their life and career.

So today I'm here to just kind of open your eyes to this idea that inflation is a real thing. And if you're not making enough money in your career or you're waiting on your annual salary increase, that may not be enough to really help you advance your career or the vast amount of money you're making at work in the ways that you desire. 

If that sounds like a conversation that you are interested in—to learn more about strategies to actually build wealth with your salary, make more money, and have more impact at work—you are in the right place.

If you started your job three, five, seven, or ten years ago, your starting salary at the time may have been great. It may have been something you were super proud of and felt really confident about. 

But where are you today with your salary? Are you at that place where you think, “I'm not able to save to buy a home. I'm not able to save to go on longer vacations. I'm not able to get a new car. I'm not able to save for a down payment. I'm not able to do the things that I really desire to do in my life and career with this low level of salary.”

Everything has increased in price, especially over the last few months. And while everyone is having to make some adjustments, I don’t want you to feel like you are one disaster away from a financial disaster. 

I talk to women every week who are tired of living paycheck to paycheck. They want freedom and flexibility in the amount of money that they're earning and saving. They want to be able to have some breathing room in their budget. They're so sick of just surviving, just barely making it, or just barely covering expenses. If you are wondering if it is time to leave your current position, read this blog post for clarity. 

If you’re reading this thinking, that is me! Then I urge you to schedule a Mentor Moment today.

Join my other mentees like Dearra, and secure the salary increase you not only need but truly deserve in your life. Don’t stay stuck in the cycle of minimal salary increases that don’t really amount to anything. 

Are you ready to make more money and have more impact in your career? Join the Mentor Me Accelerator program today. 

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Do you want more about this blog post? Check out the Youtube video below.