The Shift Worker’s Ultimate Guide to Monthly Earning Goals

As a shift worker, you’re most likely working irregular hours as dictated by your contracted work schedule.

Therefore, it can be tricky to accurately track your monthly earnings and set appropriate goals, in comparison to if you were to work a traditional 9 to 5.

In this guide we’ll break down all there is to know about the strategies shift workers can use to set clear monthly earning targets, and how to smash them each month. By setting clear goals you will give yourself a strong platform for financial stability so that you can worry about money a little less and spend more time focussing on the important stuff.

Monthly Earning Goals and How They Can Help You

Monthly earning goals are simple, they’re clear financial targets for how much you hope to earn each month. Your goal can be solely dedicated to your shift work, or they can be widened to include any income you may receive from side hustles, freelance work, or selling your second-hand stuff.

An example of an earnings goal for a UK shift worker is £2,000 per month, which will result in a post-tax annual salary of £20,344, according to 2023 tax rates. Aside from the obvious advantage of helping dictate your financial income, setting monthly goals will support your motivation and improve your financial control. Having clear monthly earning goals is vital for ensuring clarity in your work focus and it will help establish your desired work-life balance.

By having an earnings target that reflects your financial aspirations, it is easier to decide whether to take on extra shifts or not, so you can prevent your work hours from unnecessarily spilling over into your free time.

How to Set and Meet Your Monthly Earning Goals

So, now we’ve covered the benefits of setting monthly earnings targets, let’s take a look at the key strategies a shift worker can implement to take control of their monthly earnings.

Assessing Your Current Financial Situation

Before you start thinking about how much you want to earn each month, it’s imperative to understand your financial situation. Make sure you know your average monthly expenses, your current monthly income, and any upcoming events that may impact these numbers.

Be sure to record everything - even the seemingly unimportant things, like a Netflix subscription, are a part of your financial profile. It can be helpful to record your finances using a digital application like Microsoft Excel to get a clear insight into your money and where it’s going.

Setting Realistic Monthly Earning Goals

Now for the most important part. Consider your current and future financial needs and dictate a monthly earning amount that will help you fulfil them. It is recommended to break

down your goals into manageable milestones, by using the SMART criteria – make sure they’re Specific, Measurable, Achievable, and Relevant.

Also, keep in mind that it’s fine to be flexible. If you’re a student, a parent, or it’s just likely that your situation may change, your targets should change with you. Do this by setting targets as ranges, for example, a monthly target of £1,500 - £1,800 a month, or even set different targets for each month to account for busy periods or holidays.

Track Earnings

Once you’ve established clear targets for how much you want to earn each month, it’s vital to keep on top of how much you’re earning each month.

Stay on top of your monthly earnings by utilising a digital application that enables you to monitor income sources and compare them to your predefined targets.

This proactive approach will not just let you see how much you earn, but it will also give you key insights into any reasons for not meeting your goals. Being able to address any issues for not earning as much as you’d hoped, is a key step to maximising your earnings as a shift worker.

Overview

Now we’ve looked at the strategic steps for setting your monthly earnings goals as a shift worker, it’s up to you to get started on your journey to financial control. Every step of the goal setting and tracking process is necessary to establish direction and motivation within your role.

Keep on top of your finances and implement these steps into your regular financial planning. Earnings goal setting is a key habit of successful shift workers because it empowers them to work for their own demands and not lose control of their work-life balance.

Don’t let irregular working hours confuse your monthly earnings expectations and targets, but instead create tangible and trackable outlines for your shift work today.