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10 Reasons Strong Personal Finances Are Critical To Your Professional Career

This career coaching post originally appears in my Work In Progress blog for

It’s income tax time. For many people this is the biggest personal finance project of the year (even if you hand off the calculations to an accountant, you still need to pull together all that documentation). Don’t let this be the only time in the year that you review your personal financial situation. Strong personal finances give you a professional advantage. Here are ten benefits a strong financial foundation gives your career:


  1. A stronger job application as some employers run a credit check as part of the hiring process
  2. More time to search if you are in-between jobs as your savings can extend your severance
  3. More patience to wait for the ideal job as you know your savings can meet your household obligations
  4. More confidence when you negotiate for an offer (or a raise or promotion) as you know you have financial alternatives
  5. Stronger boundaries on the job as your financial alternatives enable you to walk away from a bad situation
  6. More time for your work as your budgeting savvy enables you to invest in household help and other support
  7. More focus on your work as you don’t have anxiety about your finances
  8. Deeper renewal and refreshment as you can invest in pursuing passions and self-care
  9. Longer runway for your business to take off (because career success sometimes involves a side or main entrepreneurial venture)
  10. Diverse earning potential as an investor (because there are alternatives to employment or entrepreneurship)


A strong personal financial foundation benefits your professional career. Make the time and effort to develop a spending plan that matches your priorities, adopt a savings plan that gives you a financial cushion, and manage your finances for peace of mind and added confidence. There are many resources if you need to improve on the basics: classes, magazines, books, websites, TV programs, there is a medium for however you like to learn. Financial knowledge improves your career prospects even if you aren’t a tax professional, accountant or banker. Don’t make tax time the only time you spend on this critical career advantage.