Financially stability is probably every Millenial’s dream. Born in a world of economic meltdowns, fiscal and monetary policy, these individuals often look forward to easing their worries regarding finances.
They start early – they look for jobs and side hustles, build empires and turn their passion into business ventures. Of course, the path to these isn’t easy. It can be a breeze when you know where to start.
To help you get started, here are some hacks to financial stability.
1. Build your emergency fund.
There’s no other solution during difficult times than to establish a sizeable amount of emergency funding. Each day unexpected events happen to each one. What’s worse, the outcomes are unpredictable. Some events result in greatness while others result in depression (not the illness).
These events not only happen to us. They also occur to people close to us – parents, siblings, and children. When these occur, you must be ready to buffer against the hardship. A sudden layoff, sickness, and death entail costs that can eat up your operating expenses. An emergency fund will help you sail through them.
If you’re a regular employee with a monthly salary, it helps to save six months’ worth of expenses. Entrepreneurs, people on commission and those without a fixed income must save a year’s worth for their expenditures.
2. Expand your income base.
It will take you awhile before you reach the ideal amount for an emergency fund if you have a meager paycheck. A minimum wage will only get you so far – utilities, food, other necessities, and the remaining for savings. You won’t have enough for investment which is crucial to make your money grow over time.
Thus, you must get creative and bust some move to gain some moolah. Some people get a side hustle on top of their 9-to-5 job. Others explore their passion until they start making something out of it. There are guides and tutorials on the Internet that can guide you and become your inspiration to grow your money.
3. Explore community services.
Privatization and exclusivity may be convenient and fancy, but it’s highly expensive. An Uber ride to work is double the amount of your daily train fare. Therefore, commuting is highly sustainable compared to other modes of transportation. Exploring the travel route from Trinoma to Vertis North saves you a couple of bills while doing good to the Earth.
The same goes for biking and walking. It doesn’t only decrease your expenses. It also minimizes your carbon footprint. Besides commuting, common areas like public parks, museums, and libraries are sources of culture and entertainment. Most of these establishments offer a small fee (often the entrance fee) to maintain their operation.
TL, DR: You can be part of something without spending a ton of money just because of exclusivity.
4. Set a partition on your utilities.
Scheduling bill payment twice a month between both paychecks is a life hack. It spreads out your money and extends your budget. To do this, include electricity and water bills in the first half of the month. The other half covers the remaining expenses such as cable, Internet and other payables.
You can throw in other expenses such as groceries and household expenses in the mix. You can do grocery shopping twice per cutoff. That way, you can easily track where the bulk of your money goes.
5. Use budgeting apps.
There’s an app for everything. There’s an application for budgeting for sure. Hence, use the power of technology to cultivate lasting financial habits. If budgeting and monay management isn’t your cup of tea, you can rely on apps to balance accounts and compute your expenses for you. All you have to do in input the complete details to arrive at an accurate computation of your payments and net income.
Maintaining a savings account and paying off a loan is easy when you don’t have obligations. Family members can add to the bulk of expenses without contributing to income. Thus, use these tips and hacks to maximize your earnings. Once you have enough, start growing your passive income. Being financially stable is based on a having a fixed passive income.
Photo from Unsplash
Clutter is anything that doesn’t belong in space – whether because it belongs elsewhere in your home, or it doesn’t belong in your home any longer. ~Chrissy Halton
Whether you realize it or not, we have this tendency to keep things in our possession no matter how long or old it is. We just want to have it for as long as we want, since it is our belongings. For some people, getting rid of their things might be a challenge since there is a sentimental value on it, or merely because they grew fond of it. Did you know that this stuff add clutter to your home?
Regardless of the property you’re in—may it be in a house and lot for sale in Laguna or a condo unit anywhere in the Philippines, decluttering is a must if you want to have a clean and healthy environment at home. If you’re one of those people who is having a hard time getting rid of his/her stuff, then these tips below will help you with that matter.
How to declutter your home
Don’t hang on the past
There are just things that remind us of our memories from the past – of what and who we are before. If that particular thing holds a bad memory, then you better get rid of it. This is not the time for you to hang on the past, you have to move on by getting rid of the things that reflect who you are before.
Getting rid of the things that remind of your past is not that hard as you think it is. You just have to make sure that you get rid of that particular thing together with those bad memories that you have with that thing. Well, you will eventually realize that getting rid of it is much better than keeping it in your home.
Don’t get too wrapped up in the future either
Sometimes, we are tempted to buy things for our home even if we don’t need it at all yet. Yes, this might be an inspiration for dreaming of a home where you can have that particular furniture, but if you think that that doesn’t suit your home just yet, then don’t buy it ahead of time. It will only add up to the things in your home.
Limit your emotional attachment to physical things, especially if they’re large things.
One of the main reasons why you can easily get rid of your stuff at home is that you have some emotional attachment to it. Even if those particular things don’t hold any value to you at all, you still want to keep things at home. And if you can’t easily get rid of it, then. As a result, more and more things are placed at home.
However, if you know how to control yourself by limiting your emotional attachment to each of your belongings, then getting rid of it would be much easier for you to do. Yes, there might be things that hold sentimental value for you. But to those things that are not that useful to you or for your home, then you better get rid of it now.
If you are a kind of person who just loves to keep souvenirs even if it’s not that useful to you, then you may want to take some alternatives without taking or bringing things at home. Well, you can take some photographs or pictures with the events that happened in your life. It doesn’t necessarily mean that you should store some things at home for you to keep those memories forever. You can store it on pictures.
When you do such, you don’t just keep your memories in life; you will also have much bigger space at home. Moreover, this is also one of the many ways you can organize your things in an easier way. Well, you don’t have to worry about too many furniture or things in your home. Just have some fun and take some pictures of your life experience.
A lot of people dream of owning their own home and nowadays, there are various ways of achieving this dream. Although a growing number of people are discovering the joys of living in condominiums, there is still a significant number who prefer to have a landed house or a house that is built on a lot. For some people, owning a condominium unit is different from really owning a complete structure on a land that you also own.
For those who aim for a landed house, there are two different paths towards acquiring their home – buying house and lot packages or purchasing lot for sale in the Philippines and then designing and building their own house. If you are considering the latter, then below are some of the advantages of this option.
- Your own design. The biggest advantage of building your own home is that you get to design it. You do not have to choose from any house template; you can just look for ideas from various resources and then come up with your own house design. Even if you do not know much about technical stuff, you can simply express your preferences to your architect and designer and they can help you come up with something that fits your idea.
- Your own timeline. When building your own home, you are not under any strict timeline. Once you have purchased a land for sale, you can start as soon as you want or you can delay it if necessary. If you are under a targeting an early date, you can adjust your resources so that construction can finish earlier or if you have a tight budget, you can postpone or delay it until additional budget is available.
- You can specify and customize everything. You can specify everything – from the smallest detail to the overall concept. Unlike with developer-built houses where most fixtures and finishing materials are predetermined according to their design, you can choose every single material that you want used in your house.
- You can save on costs. If you know some people who would be willing to give you discounts, then you might be able to save more if you build your own house. Many people have enjoyed free services of architects, engineers, and designers that they know in building their own house. You might even know someone who owns a construction company or even a hardware company and could provide you with huge discounts on their products and services.