Plan Your Finances Before Resigning Next Year

Submitting your resignation letter and starting a fresh chapter is a significant transition is someone’s career. Before taking the leap of faith, here are some financial steps that you may take.

SET A TIMELINE

Many people may think that there are better career opportunities ahead of them, but that is not always the case. This is why, you must set a timeline for realistic events. Ask yourself certain questions that will answer various outcomes. How long can you afford to take a break while you hunt for a new job? When shall you send out your tailored C.V.s? Do you need to schedule interviews next month?

It is recommended to build your emergency fund during this break. You may also build your networking list. There is no need to start from scratch when switching careers.

SELL SOME STUFF

Selling your old belongings is one of the quickest ways to use your free time and to de-clutter your space. Do an inventory of all your underused or unwanted items and filter out those that are in good condition.

Sell these items at a discounted price to your friends via Facebook groups. I remember selling my old shoes and clothes to help me purchase new ones when I was still a Uni student. To ease my search for a buyer, I made an account on Carousell. Carousell is a convenient marketplace app that is available all over Asia.

ELIMINATE THE NON-ESSENTIALS

Be honest with yourself! Check your monthly subscriptions on products and services. Do you really need to pay for two streaming services (i.e., one local and one international) or is one enough? Can you trim your gym membership and exercise at the park instead? Find no-cost ways to reap the benefits of your hobbies.

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While you may have gotten used to certain luxuries throughout your life, taking a few sacrifices here and there is essential. While you are on a “career break”, you can be conservative with your budget calculations.

SELECT A PART-TIME HUSTLE

Getting multiple streams of income can benefit your situation. By multiple streams, I am referring to either finding part-time jobs or to setting up your own small business. Aside from earning extra cash, you can also experiment with a variety of jobs or fields.

Find a freelance job that you can do at home such as teaching English, selling stock images, or becoming a virtual assistant. You may also open up your own small short-term business. Depending on your skills, you can sell baked goods for the upcoming holiday season or plan events for weddings and birthdays. Who knows? This humble venture may lead to bigger opportunities in the future.

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The Ultimate Guide To Making Extra Income

The start of 2018 sparks new opportunities for growth and prosperity. As we usher in a new year, you must not box yourself to the usual 9 to 5 jobs. Your potential to earn extra income is beyond the conventional choices. Contemplate on these creative ideas:

1. Gone are the days when employers rely on the physical presence of their assistants. Virtual assistants (VA) help ease the workload of business owners through remote support. Become a home-based VA by applying at upwork.com.

2. If you are a skilled driver who seeks an income-generating activity, look into the responsibilities of an Uber or a Grab driver. Your spare time can be spent in this flexible working environment.

3. My father wanted to sell his complete golf set, but he does not know where to start. I decided to post his listing on Craigslist. To his surprise, his inbox blew like wildfire. Selling your items online is a great way to earn income on the side. Be careful during personal meet-ups.

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4. For people who are utterly fond of domestic animals, it is a good idea to consider dog walking or pet sitting. Positions like these enable you to mix business with pleasure. You can either stay at the client’s home or take care of the pet in specific times of the day.

5. One of the easiest ways to make money as a tertiary student is to rent your textbooks to the next batch of students. Embody the process of online rental companies by providing a minimum number of rental days at fixed rates. You may sell the reference books too!

6. Offering tutorial services in a subject that you are skilled with is another way to earn as a tertiary student. You can either help them with their research papers or with their important exams. The possibilities rely on your available set of skills and knowledge.

7. Lastly, you may become an effortless mystery shopper. Mystery Shoppers are paid by the company’s marketing department to report about their experiences as they try the said company’s products, eat at their restaurants, or buy their goods.

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If you accepted a “mystery shopping” job, you will be paid for your time as well as be reimbursed for anything you bought.

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