How to Keep Earning an Income While You’re Between Jobs
When the economy is unpredictable, it can be tough to maintain a steady job. Making ends meet can become a full-time job all its own. But there are ways to ease your stress and fill your wallet up while looking for permanent work and plan for the future. Clover Leaf Financial LLC wants to help, so read on for tips and information.
Making more money right now is your first priority. To get started, think about gig work or jobs you can do from home. Gig work refers to short-term work that you can pick when times are slow. Typical gig roles outside the home include food delivery and rideshare driving. But you can also consider trade jobs gig work; you might put your carpentry skills to use building furniture or put hours in doing yardwork for your community for a fair wage.
Many jobs you can do from home also count as gig work. Working online is also more flexible than heading out to different locations for deliveries or other location-based work. Whether you pursue a new full-time career or part-time employment, working at home with a reliable internet connection might be a quick and easy option.
Think about these types of gig-based jobs and apply your talents:
- Website development
- Virtual assisting
- Graphic design
Starting your own business is yet another potential option. By establishing an LLC, you can establish a legitimate business complete with tax advantages and lowered liability than other organizational models. If you don’t want to spend cash on an attorney and don’t want to deal with the paperwork yourself, outsourcing the job can help you get your business set up.
While making more cash is crucial, you’ll also need to set aside savings. But building a savings account can be a challenge when you’re struggling to pay bills. Creating a budget is the first step toward setting aside money so that you can build a cushion for tough times. The Balance recommends strategies like cutting down your entertainment expenses, changing your grocery shopping habits, and using cash for regular expenses to avoid overspending. Using savings-growing tips like paying for (and paying off) routine expenses with a rewards credit card and automating transfers to your savings account for stress-free saving without any effort.
It can be tough to remain optimistic while you’re struggling to pay bills and build savings. But thinking ahead to the future is a necessity, too. Having a long-term plan can help you prioritize what you’re doing day to day so that one day, your efforts pay off.
Entrepreneurs also recommend looking at your savings and future plans with a diverse mindset. By that, they mean to use your money in multiple ways to build wealth. Investing, choosing the right savings and retirement accounts, and staying disciplined can help you meet your goals.
Even if launching your own business isn’t in the cards right now, it could be a goal that you work toward in the next year or two. Having an idea of where you would like to go can help you prioritize what you’re doing right now.
Getting through a rough patch finance-wise isn’t easy. But with these ideas, you can start making and saving more money, plus create a plan for how to stay proactive moving forward. And while you work toward building solid finances, consider reaching out in your community to build connections and network with other professionals.
Photo via Unsplash
*Content brought to you by Katie Conroy with https://www.advicemine.com/
*The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.