The first rule of budgeting is to spend less and earn more. The easiest way to do that is to find a higher paying stable job with good benefits. While in theory, this sounds easy, in reality for most people it is not.

Many people that are stuck in a situation of poverty are there because they do not have the opportunities that others have. They may not have attended college or have the skills to be marketable. It is not always big emergencies that can cause financial ruin.

A Better Job Could Have Prevented Bankruptcy

My financial problems stemmed from a multitude of situations. I was underemployed and had inadequate insurance. My wife was unemployed with a major illness. If any one of these things had changed we may have avoided bankruptcy and might have been in a much better position.

A co-worker years ago mentioned to me that they thought I was one of the most undervalued employees that he had worked with. He knew the true value of my experience and felt that I in a way ‘sold myself short.’ At the time I lacked the confidence to make the change and was content with my situation.

As time went on I realized that if I was going to get a better position and focus on my career I needed to spend more time investing in myself. I knew how. I had done this when I was just starting out. I spent some time researching local organizations that I could get involved with and found one that needed board members.

Within a year of joining I was president of the board. I had also built a fairly good network in the industry. I had told my spouse that I wanted to be considered an expert in my industry and was finally on the way to doing that.

Grow Your Network

Having made new connections and built up my network I began to focus on one of my major weaknesses, public speaking. My first attempt since college I was a wreck. By the third minute of a five-minute speech, I was drenched in sweat and wanted to run off the stage.

I promptly joined the local Toastmasters group and started my journey to becoming a better public speaker. It was during this period that my employer decided to shut down our office. Luckily from some networking opportunities through the local organization I already had a job lined up and within a month I was working at my new job.

Toastmasters opened up many more doors for me. Through the local organization, I became involved in the International governing org. I soon became part of the committee that organized the yearly conference. I had already given about a half dozen speeches at other conferences and was becoming a prominent figure with my peers.

I went from that five-minute speech to speaking to a group of 500 people within two years. My network grew from local to national and now I have a network that consists of thousands of people all over the world.

Networking Can Boost Your Income

My networking has led me to several new opportunities. This led me to my latest career which has boosted my salary by as much as 30 percent in the past two years.

Recently I began volunteering to write articles for my profession. My minor in college was technical writing and journalism so I was not a novice writer, but it had been years since I had been published. This year I have already had one article published on a major website as well as an additional article that will be coming out in a few weeks.

Another way that I have grown my networking and advanced my career was mentoring. I am an instructor for a leadership academy teaching management and leadership to aspiring professionals. This not only helps the next generation of leaders but expands my network and career outside of my local area.

Each opportunity has been a step forward in my career. This has allowed me to invest more in my profession and myself. My last two career advancements have been a result of my investments in networking and volunteering.

Social Networks Can Help

If you have the time, look for local organizations that can help you network. In addition to the local groups, LinkedIn can also be a great resource to help you connect with peers and other professionals. When I published my first article on this blog I used LinkedIn to promote it and had over 350 unique views the first day.

Make sure you polish your professional presence online, especially if you use other social media. While a good profile can advance your career, other posts and information can set you back.

Start by adding your profile and find local groups to join. There are many local networking opportunities that cater to specific professions. Look for contacts that perform similar work and connect with them. Your network will grow quickly once you find the groups and people to connect with.

I am now on an international board for my profession, a college advisory board. I instruct a leadership class. I am published in an international newsletter and have been asked to speak at multiple conferences. I receive opportunities for employment on a weekly basis and owe this primarily to my networking and volunteer opportunities.

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Always Keep Growing

My next career goals are to finish my MBA and become a keynote speaker for a major conference. All these opportunities are possible if you have the time to put into it. We should always be constantly investing in ourselves and our careers. It is the easiest and fastest way to become financially independent.

Even if you are struggling financially, you can still build your network and grow professionally. Much of the work only involves your time. This can be difficult if you are working two or three jobs but opportunities can come from your current employment as well. While working my second job I met someone that introduced me to an extremely influential person.

This professional relationship became a friendship that I have utilized many times in the past few years. He has been a reference for both my current job and my MBA program and has helped me be much more successful. Do not ever shy away from the opportunity to grow.