Upgrade Skills?

During the last few weeks, I have been debating if I should upgrade my skills at my current position at work by taking some extra classes during the evenings with the possibility of gaining a certificate in my field. Currently, I am having a hard time figuring out  if the extra money invested in education will be worth it in the long run in terms of my overall financial health.

The position I am currently in doesn’t have the most room for growth available without furthering my eductation as the industry I work for is very specific. I currently enjoy the field I work in but it will not be something I would want to do until retiremement. This has nothing to do with the job I am currently working for as it is more myself and the need to be free from work eventually. Since I am expecting higher pay by upgrading my skills, I am hoping this will result in more money saved and a faster road to financial freedom.

After viewing all of my options, I have broken them down to the following:

Option 1: Upgrade my Skills by furthering my eductation

This requires the most money from the 3 choices but can prove to be the most beneficial in the long run. I can realistically expect at least a slight increase in pay and more opportunities of getting a better job in the future if all doesn’t go well at my current employer.

Option 2: Look for a higher paying job

I tend to find this a little risky since the job I am currently in has been tolerable for the most part compared to jobs I had in the past. However, there is always something better out there and I might find some luck if I look hard enough.

Option 3: Wait it out

I work for a pretty big company so there is bound to be some form of opportunity in the future. I just feel that I have more potential in terms of responsibilities and income and feel the need to act now in investing in my career by upgrading my skills.

With classes starting in September, I have some serious thinking to do in order to come to the conclusion that I feel comfortable with and feel that will truly help me financially. Here’s hoping that I make that right choice!