I have been offered a longterm job which is great for my career has a basic salary plus overtime.
But I am in sooo much debt which basically I have given myself until the end of the year to clear. Would it be totally selfish to go after this job even though it may mean that I will not be able to support my family and pay off my debts.
Or shall I go for something that pays twice as much and hence I can fulfill my financial obligations but there is no guarantee of any future work and it mean doing things that may not be off that much of interest.
How will you be allocating the salary, i.e. what expenses will your salary be paying for? And why can't you make payments towards your debt (even if they're modest payments) - will someone else be responsible for paying for your debt?
You know i was just thinking about this exact thing last night....go for something short term that will have alot of pay or something with lower pay that will lead to something...
Its a tough choice.....
With the first one....would you still be able to support your family with the bare minimum and still be able to pay off your debt...albeit a little bit more slowly? Cut back on certain expenses etc?
The future is like an undiscovered country; none of the two positions are certain to last forever. Get a position which will land you debt free ifaster. How did you land up with so much debt? Please learn from the past and avoid getting into such a position again. I am against all sorts of loans, yes even student loans. Living debt free lets you stars savings, so its financially more viable. Not only can you retire earlier and enjoy life; you live longer not having dealt with the stress that being in debt might cause.
I'd go with the first one ... it might take a lil longer to pay your debts but in the long run it'll be well worth it ... you can never know what tomorrow holds but look at the bigger picture and if you're standing 5 years down from tomorrow how what decision will make you feel better about yourself
Usually I would say go with the job that offers you long term stability and better future prospects, but as we've all seen the job market is so unpredictable right now so there's really no guarantee any way. In this case, as you have a lot of debt, it would probably be best to take the second job and pay off your debts faster and once that's done you will be in a better position to pick and choose what your next career step will be.