One Way to Combat Inflation? Make More Money

Over the past several weeks, we have seen financial media flood televisions and the internet with ways people can save/limit consumption to combat the adverse effects of inflation. While this is certainly a worthwhile exercise to make an immediate impact, I want to offer longer-term advice to help people maintain their quality of life and stay ahead of the inflation that is likely to be with us for a while.

Follow The Welch Group every Tuesday morning on WBRC Fox 6 Money Tuesday segment for weekly insights.

This advice involves simple changes in one’s work mindset to improve your work performance, make you more valuable to employers, and offer greater upward mobility. While these steps are no guarantee of a promotion/raise, your chances of advancement without them are slim.

Show Up to Prove Reliability

One of the easiest ways to improve your value to an employer is to consistently show up on time with a great attitude. As an employee, you want to send the conscious message that your job is meaningful, you are happy to be there, and you can be relied upon to show up on time and ready to work. While this step seems simple, it can be a challenge if you don’t have a healthy work/life balance. Recommendation: Try to separate your work life from your home life. While at the office, give your projects and co-workers your full attention. At the end of the day, leave work in the office and transition your full attention to personal growth. This work/life balance is key to being successful in your profession.

Think Like an Owner

As an employee, there is a tendency to adopt a reactive mindset of executing only assigned tasks vs. being proactive and thinking ahead. To fight this tendency, think about working to a particular standard and not necessarily to a time. For example, if you are a salaried employee and there are tasks requiring you to stay longer than required work hours, be willing to go the extra mile to complete the tasks consistently. Remember, business owners do not have set works hours. They work to a standard, not to a time! The key here is to develop a habit of going the “extra mile” to add value to the organization and create additional value for yourself.

Request Periodic Performance Reviews

One of the best ways to show an employer you care is to request formal periodic reviews of your performance. The primary purpose of these reviews should be to learn about areas you can improve and discuss your accomplishments and goals for the future. These reviews are vital to determining the steps you need to take to advance to higher levels of greater responsibility and make more money. Recommendation: While employers will certainly help your growth and development, no one cares more about your future than you do. It is up to you to take the initiative and take control of your future!

As you continue to grow in your career and increase your salary potential, be sure to consult with your primary financial advisor about adjusting your 401(k) and other retirement savings goals that reflect your new salary.


Marshall Clay CFP, J.D., is a Partner and Senior Advisor at The Welch Group, LLC, specializing in providing Fee-Only investment management and financial advice to families throughout the United States. Marshall is a graduate of the United States Military Academy in West Point, New York, the Cumberland School of Law in Birmingham, Alabama, and is a CERTIFIED FINANCIAL PLANNER™.  In addition, Marshall is a frequent guest on local television stations as an expert on various financial planning matters.




Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by The Welch Group, LLC –(“Welch“), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Welch. Please remember that if you are a Welch client, it remains your responsibility to advise Welch, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Welch is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of Welch‘s current written disclosure Brochure discussing our advisory services and fees continues to remain available upon request or at Please Note: Welch does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Welch‘s website or blog or incorporated herein, and takes no responsibility.