Saturday, July 10, 2010

Hourly and Monthly Wages

When you get paid hourly or weekly your psychology is totally different.  You start working for the hour, counting hours to complete your job.  Finish the task and go home.  It's done and there is no tension about the job.  But you keep worrying about payment dates.  You are thinking twice about spending money. 

Most of the problems are associated with money.  And most people of hourly tribe worry about small things in life, paying bills, buying small things, getting happy on buying and fighting over small issues.

When you get paid monthly you work for a company with more responsibility.  You are more attached to the company. You take it seriously.  But still there is a problem with both weekly and monthly mindset. 

When you get paid monthly or to be precise on a regular basis you are used to spend so and so much money.   Because you know you will get paid next month so you don't worry about saving.  Sometimes you even get broke because you knew that by next paycheck it will be alright.  This psychology is not good for business. 

Business is one thing is certain : Uncertainty.  What will you do if you are uncertain about your next paycheck, customer order, contract renewals.  What happens when you own a business?  Do you worry about getting paid every week or month?  Do you work for money only?  How your worries shall change?  Will you spend money the same way you used to spend?