Start with Earning
First and foremost aspect of your finances, which can be the difference between a dream and realising it
The key to achieving all your financial goals and needs begins with money—what you earn. Practically everything that you do with money has a bearing on how much you earn. Thus, it becomes necessary to know that earning money should be given importance and one should work towards ways to increase this component. Many argue that money cannot buy love or happiness, but that is getting entangled in the philosophical aspect of it. What money can definitely do is give you the opportunity to have a lifestyle and maintain it.
For most of us, there is just one source of earning—income, but smart people create multiple sources of income. One way to increase your earning potential is to develop skills and expertise in a manner that you automatically create an income source that pays you well. Basically, you should excel in whatever you do, for it to be recognised and paid for by your employer. However, this is a slow and tedious process for the majority. What could you do to create multiple income streams by way of working? You could use skills that you possess by working part time or by indulging in activities that would pay you and yet not be in direct conflict with your employment.
Enrol for courses which can enhance your job-related skills, resulting in an increase in income from the same employer. You could also learn new skills which could then be used for lateral movement within organisations and increase your income quotient. Today, the National Skill Development Council (NSDC) offers several skill development programs that one could enrol for, which have all the virtues of helping you improve your earning skills. You could also study further by taking a mid-career sabbatical or break to not just increase your awareness and skills, but also increase your future employment prospects.
The fast changing working environment is forcing people to change their careers more often these days. Regularly improve your skills to stay relevant with jobs and at the same time, look out for opportunities, given your experience and expertise. Do not resist the change, because in doing so, you may find yourself being pushed off your comfort zone, because somewhere there is an individual who is younger than you, and is available for the same job as you are, but at a lower cost.
For a safe and secure financial future, make sure your earning sources are spread out and you become an outlier. You will automatically earn more, have more money for the goals you have and realise your financial dreams by knowing how to use the money you earn, by spending it right, saving it more and investing it wisely.