Do you feel that there are just too many things to pay for in this day and age? Yes, while it’s all well and good figuring out how to save money at home, or cutting financial corners, you have still got to think about the long-term. When you’re trying to provide for your children, but you are barely scraping by month to month, this can be very concerning, because what’s going to happen when your children get older? Naturally, they will lean on you for more financial help, but if you can’t give it, you might feel that you’re not able to provide for them in the way that other parents do. And whether you have a job doesn’t pay very well, or you have had a case of bad luck, investments and being shrewd with your money seems to be a decent combination. How can we make the most of this?
If you’re considering investing in the stock market, you might think this will take hours of research first, but nowadays there are some great stock apps available for both Android and iPhone platforms, that can help to make this task much easier.
Think About The Appreciation Of Certain Items
While people go for the big investments, like real estate, when you are someone that’s not able to put down a major payment for something of this magnitude, you’ve got to think in terms of smaller-scale investments. And this is where you may find a very valuable item in your basement. Of course, we don’t all expect to have valuable pocket watches buried within the junk in our spare room, but we’ve got to think about items that are going to be worth a lot a few years down the line. Something like private plates is a very good example. A personalized number plate holds its value because it is so unique. Some people are investing in number plates rather than bonds or savings accounts. Because private number plates can increase in value over the years, it can make you think about other items that can appreciate in a similar way. Look at Disney DVDs, especially the classics; as they are released rarely, you can strike while the iron is hot and purchase them to sell on further down the line. Collectibles are always a good place to begin.
Embracing The Side Hustle
You’re a busy parent, and you might wonder how you can even get the opportunity to do something else on the side. The big trick with embracing the side hustle is to make sure that it’s something you can do at home. Buying company shares is a great way invest your money safely. Always do your research before and chose well known companies. You can buy uber shares for example as Uber is one of the most stable and well known companies in the world. Whether you work a job or not, if you can find an opportunity to do something in the pockets of time when you are sitting around twiddling your thumbs, like waiting for the sink to fill, you can use this time to earn money. One of the biggest misconceptions of a side hustle is that it’s only for the skilled. In fact, there are so many opportunities for you to use your own life skills that you may very well carve out a niche for yourself. We can put ourselves down and feel that we don’t have the necessary skills. But look at what you’ve done; you have raised children through thick and thin, and held a house together. This can make you qualified in the subject of life, and this can spur you on to other side hustle ideas. For example, starting a blog about your parenting could lead to work on parenting blogs. Granted, it can take a long time, but at the beginning, there are websites like Appen that look for people to do work from home, but not during set hours. This gives you the opportunity to work at your leisure.
Examine Your Current Expenditure
You might not think that you’ve got enough money to do anything, but this is based on what is coming in and going out of your accounts right now. For anybody to make a significant saving in their life, they have to alter their lifestyle somewhat. This is something we don’t really like to admit because it can feel like we are going without the relevant funds, or we might think that we have to live on canned goods for years on end. This is very simply not the case. Instead, if you look at what you spend your money on, and then the penny drops- there are ways to get cheaper versions of the same products, or you realize that your spending habits a little beyond what comes into the household, you can then start to change this. This also means that you’ve got to tackle debt. There are so many different debt management plans, like self-managed ones like the debt snowball method, or a financial advisor can craft a plan for you. But as soon as you start to realize that there are ways to save a lot of money, then this could provide you with the motivation to use what you save and put it aside.
Start Now!
It is all about the habits you set up for life. You can worry about not bringing in enough money, but if you have an end goal in mind, such as being able to provide a bit more for your family during hard times, or just a rainy day account, it’s important that you start right now. The act of planning in a financial sense is all about preparing for the long-term. This is why people invest in stocks and shares. It’s not an immediate payout, but it’s all about the long-term. The game of money, where its value can fluctuate, means that we have to invest in it as a long-term endeavor. This means that you can learn all you want about the right investments, but if you fail to start now, think about all the time you may waste in accumulating some decent finances. There is no denying it, saving money can be very difficult, but if you feel that you are struggling, there is no need to go through it alone. You need to save for your family, but you also need to realize that money isn’t the be-all and end-all. It’s understandable that you want to provide for your children, especially when they all need you later on in life, but don’t feel that you have to be consumed by money. It’s all about the wise investments, as well as the long-term plans you have.
Anna Marikar, mum of four and seasoned blogger, has spent over a decade sharing her parenting journey and passion for kid-friendly crafts and free printables.
Her easy-to-follow craft ideas and practical parenting advice have transformed In The Playroom into a cherished resource for parents.