The freedom and flexibility that working as a freelancer brings is a dream for many working in nine-to-five office jobs. Freelance careers offer not just flexibility but control over your time, schedule and career. However, despite the hugely positive draw to going freelance, it can be a somewhat unpredictable and unstable means of making money, let alone saving. For our generation saving can seem like a distant pipeline dream, but it’s even more important when looking to go freelance. Savings for a freelancer enables you the security to have a quieter month, without worrying that you won’t have enough to make ends meet. However, it’s incredibly difficult to save when you’re only just finding your feet – often in the beginning even just paying your rent is stress-inducing enough, without attempting to think about putting money aside in a savings account. Frankly, it’s not even an option for most newbie freelancers. But with increasingly expensive demands on our finances – for instance, the price of renting an apartment letting alone buying one – having a stash of savings is more important than ever. Now that I’ve sufficiently scared you into the importance of savings, let’s look at ways you can save money in the early days of your freelance career. [Read more…]
One of the biggest factors in effective money-saving is also one of the least talked-about. And that is psychology. For some reason, many of us don’t think about our finances from a psychological perspective – but in many cases the state of our finances can also be a manifestation of our approach to life.
Exploring the psychological aspect of your money habits won’t just help you find ways to save – it can also give you new insights into what motivates you in life generally, and hopefully help you look at things from a new perspective.
So, how can you go about using psychology to help you save money? We’ve put together this short guide to outline a selection of the main things to consider. [Read more…]
FOMO = Fear Of Missing Out
YOLO = You Only Live Once
And both terms have been used to death. So what exactly is FOMO and YOLO and why do all the young kids have it? It’s basically another way of saying you should live life in the moment, be spontaneous, take risks, etc. And it’s something that has defined my generation: the millennials.
Us millennials are known to have a bad case of wanderlust. Unlike generations before us, we want to travel, crave new experiences…and spend more money in the process. If we really want to live life to the fullest, how do we plan for the future at the same time? [Read more…]
From the moment we start our careers, a countdown begins. We start counting down the years, months, weeks, and days until we can enjoy a carefree life we like to call retirement. We calculate how much we need to save each year, where we can cut back, and what kind of house we can afford just so that one day far off the future we can leave our jobs, retire, and then….do what exactly?
For many people, the answer to that question is still pretty vague.
Retirement usually includes one or more of these activities: moving somewhere sunny and warm year round (Florida is a popular place), spending more time with the kids, going on a cruise every year, and picking up some new hobbies. Sure, it sounds great for a little while. But let’s be honest, is it really all that exciting? Can you imagine yourself doing that for the rest of your life? I can’t. [Read more…]
I hate to admit this since I have a personal finance blog and would probably lose any credibility I have. But I’ll just go ahead and say it: I’m financially lazy. I’m a sucker for convenience and would throw away money just to save some time and effort. In my defense, that can make perfect sense sometimes. But not when I’m getting take-out six nights a week.
Trying to right my ‘financially lazy’ ways has always been a constant struggle for me. Sometimes, I’ll take it to the other extreme and waste loads of time just to save a couple bucks, which isn’t good either. I’m sure many of you can relate. I think I’ll always be sort of financially lazy (at least a little) but there are little life hacks I’ve implemented that have made my finances better and my life easier. [Read more…]