Experts say these two financial decisions can have a huge impact on your career

Some 17 percent of Americans have listed hitting a career goal or getting a new job on their 2026 New Year’s resolutions, according to a survey of 1,104 adults by polling firm YouGov.

If you’re one of those millions striving for career growth or a job change, the financial decisions you make can have a significant impact on your life beyond the workplace.

The Independent has asked multiple financial experts to answer a critical question: What's the one financial decision that could have the biggest impact on your career?

Whether you’re looking to advance in your current position or prepare yourself for a new job, several experts emphasized the importance of investing time in professional development.

open image in gallery

“The most impactful financial decision you can make for your career is deciding how and when to invest in your own continuing education and skill development,” said Derek Brainard, director of financial education at AccessLex Institute, an online resource for law school students.

Bobbi Rebell, a certified financial planner and personal finance expert at credit card site CardRates.com, also noted that investing in your skills helps keep you nimble in a rapidly changing world.

“So many of the careers and jobs that are most in demand these days did not exist a decade or even a few years ago, and while some skills like communication are evergreen, the reality is that being forward-thinking and seeing ahead of time what skills will be in demand is crucial,” Rebell told The Independent in an email.

Be smart about any debt you accrue for your professional development, Brainard also wrote in an email to The Independent. Only borrow what you can realistically pay back based on salary increases tied to your knowledge and skill improvement.

“Formal education, certifications, or specialized training can dramatically expand your earning potential, but only if any debt you take on is aligned with realistic salary outcomes,” he said. “Making education decisions through a return-on-investment lens can shape your lifetime income just as much as, if not more than, your everyday financial choices.”

Monitor your credit scores effortlessly.
Create an account today.

Terms and conditions apply.

LEARN MORE

ADVERTISEMENT

Monitor your credit scores effortlessly.
Create an account today.

Terms and conditions apply.

LEARN MORE

ADVERTISEMENT

The prospects of a raise or new job with higher pay can be exciting, but be careful, two experts said. It can be easy to outspend your salary, negating the added income and eliminating the chance of earning a return on extra earnings.

“The single biggest financial decision for your career is to live on less than you earn and automatically invest the difference,” said Linda R. Jensen, certified exit planning advisor at Heart Financial Group.

open image in gallery

Turning extra salary into investment dollars isn’t just about making a return, but creates the freedom to make more career moves due to relatively stable finances.

“When you consistently save 15–20 percent of your income, you buy yourself choices: you can leave a toxic job, take a pay cut for a better role, or start a business without panicking that one paycheck change will sink you,” Jensen told The Independent in an email.

Kyle Paxton, CPA and tax director at accounting firm James Moore & Co., also pointed out the flexibility that measured spending provides.

“Keep lifestyle below income level,” Paxton told The Independent in an email. “Healthy margin gives freedom to say yes to the right opportunities, invest in growth, and avoid feeling trapped by bills.”