What are the most efficient ways to build real financial security in the fast-paced digital age? Step one is to get a college degree. Then, find a job as soon as possible after graduating. Once you’re in the working world, make a sincere effort to live below your financial means. One way is to avoid buying a new car and rely on public transportation as much as possible. Finally, follow the AHASH, or Always Have a Side Hustle, principle to supplement income. Here are details about each of the five steps.
Get a College Degree
Earning a formal, four-year college degree is an indirect way of earning money. No one pays you to attend school. On the contrary, you pay the institution for the privilege of attending classes. But once you graduate, employers are willing to pay a substantial amount more to degree holders in every imaginable field of endeavor. First, you need to come up with a plan for paying for school. In most cases, that means applying for student loans.
The wisdom of using loans to pay for a four-year course of study is that anyone can fill out an application online and get a response in a matter of just a day or two. If you work with an experienced lender, expect to get competitive interest rates, reasonable terms, and a payment schedule that fits your budget after you begin working. Graduating from college is one of the go-to techniques for boosting your lifelong earning potential and finding a career that suits your skills.
Don’t Be Too Picky About Jobs
In a global economy that is increasingly volatile, workers in the digital era should not be overly particular about the jobs they take on the road to a career. College graduates tend to ruminate for days and weeks over that ideal first position. Even if you find ways to make money while you look, a wiser course of action is to start work as soon as possible after graduation day, regardless of how perfect the job is. Another one will always come along.
If you’re already employed and earning money, it’s much easier to land a career-focused position. Hiring agents pay attention to industrious habits, and they view hard-working young people in a generally favorable light. So, don’t feel as though you need to tick all the boxes on your job search checklist. Find something that pays the bills while you continue to seek something more in line with your specialty and long-term career goals.
Live Below Your Means
It’s common to hear people say, live below your means, but rarely does anyone go into detail about what the suggestion entails. There are several pieces to the puzzle, and they all require a decent amount of self-discipline and patience. First, to spend less than you make, it’s essential to make a monthly budget and follow it closely.
That means tracking how much money you spend and being keenly aware of changing income, expenses, and savings balances. After several months of practice, however, most working adults get the hang of it and figure out that living beneath their means is just another way of saving money on a regular basis. Amounts vary, but once you get into the swing of the program, it’s possible to save between 5% and 10% of your monthly income on a consistent basis.
Be Smart About Transportation
Be aware of public transportation choices where you live and work. Don’t assume you need to own a car, especially if your job is in a major metro area. Even if you choose to purchase a vehicle, avoid buying a brand-new one. It’s possible to save a substantial amount by opting for a two-year-old car and still getting several years of bumper-to-bumper warranty. New models suffer a major depreciation hit the minute you take them off the dealer’s lot.
Live the AHASH Philosophy
One of the best things about the digital era is that anyone can earn money from a part-time or micro job online. Millions have side hustles, which is why you’ll see the AHASH acronym in media stories about the digital culture. Many take the suggestion to heart by striving to keep at least one online gig alive at all times.
College students are noted experts of the side hustle because they have grown up surrounded by online employment opportunities. What can you do to follow AHASH and sock away some extra cash no matter what else is going on in your work, education, or social life? Visit a few of the internet job boards that cater to at-home workers to get a feel for the kinds of things you want to do. Many 9-fo-5 workers discover that they enjoy performing search engine evaluations for a few hours per week. Other jobs that lend themselves to flexible and short hours include content creation, website creation, resume writing, and tutoring.
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