Life as we know it has changed so much in these last few months and for the majority of this year, in fact. We have had to stop socialising, home school and work from home in many cases. Lockdown has been hard. But one big impact that it has had will have been on your finances. While the world isn’t getting back to normal quickly, we could all do with putting some plans in place to help increase our financial prospects as we head to Christmas and beyond into next year. With that in mind, here are some of the things that you can plan for long term and short term.
In the long term
Sometimes it is good to think about the future in the long term and where you want to be. Doing so can help you to make small changes now that can have a real impact. So let’s start thinking big. Maybe you want to move house and start fresh somewhere else. This can massively help with your finances as equity in your home could go towards a new place or even some used to pay off debts. It could be that you want to move to another country even, and while speaking with immigration’s lawyers about paperwork and what it involves, financially this could be good for you. Some people get paid much more doing their jobs in other places that value those skills and experience. In the long term, it might be that you want to consider changing your career or even starting your own business. This could impact your finances initially while you make the changes but in the long term, it could be so beneficial. More time with family, taking a higher wage and earning more money than you are perhaps doing so right now. It is good to have big goals, so take time to think about where you want to be.
In the short term
Of course, having long term plans is great but we all have to think about Christmas, birthdays and also just making ends meet right now. This is when you may want to make some changes and plans that can help impact your financial situation right now. This might be taking on extra hours at work if your job allows, going for a promotion in your current line of work or speaking with an employer about a pay rise. However, with many businesses struggling you may want to use your spare time more wisely. Side hustles like filling out online surveys, selling things you don’t need online, or even mystery shopping can help you to add more funds into your pot. Even using cashback applications on your phone, photographing receipts or looking online for one-off freelance jobs that you can do, they could all help you to make some extra money that could help you financially right now.
Hopefully this has given you something to think about when it comes to future plans and increasing your financial prospects.