Is there money in the bag to celebrate another year?
The 12th month is for resting. After another year behind your back, the least you could do for yourself this December holiday is to reset and get ready for a new year.
Yet for a delightful reset, making it more significant requires some saving. As young adults there are a number of ways to both receive money and spend it. Receiving is the first step. Second: planning on using it in the finest possible way.
How to get Cash
Business hustles are the primary way to earn if you are still a student. There a number of ways to earn an adequate amount of extra money while doing so on the side and not full-time. Brainstorm!
- If you’re a good cook, why not source a micro-sized capital and sell daily meals. This could include baking breakfast muffins or preparing a meal for lunches or dinners. Find the ideal market and don’t over complicate it. Find buyers among family, friends, neighbors, a company or campus.
- Find a neighbor who might be interested in letting their dog go for a walk, and seize that as a source of money as well as a workout!
- Babysitting is also an ideal and once-off payment if you enjoy spending time with kids.
- Grocery shopping for people who can’t find the time is just as simple.
- Put your primary and high school knowledge to use and help scholars with assignments or tutoring. Charge per hour and get your cash by doing some revision!
- The same goes for putting your driver’s license to even more use. With gas prices ever increasing, parents might just be more open to join car pulls. Find scholars in your area and drive them for a monthly pay. All it takes is waking up earlier and remembering to pick them up from school.
Jobs are just as good. They are fixed and could pay great too. Look for something that won’t interfere with your studies, such as a weekend job. Working every weekend for the next few months should provide you with more than enough to enjoy leisure filled weekends.
The possibilities as to what to do when you are a student and in look of an extra income are endless!
How to save the cash
The 101 on saving: 50/30/20 rule, should apply much earlier on in the year. It breaks down your income into three categories namely needs, wants and savings.
The 50/20/30 rule will help you get the maximum out of what you are going to earn year round.
However, with 4 months to work on for the holiday, it’s wisest to save it all now! Next year’s resolution can then be to read up more on the rule and become financially wiser.
For now, saving starts with having a clear picture in mind of what you want. See yourself enjoying the holiday by going places, engaging with people or doing shopping. But bare in mind that details are important. Thus, look up a place you’d like to travel to, or visit in town, think of something fun you’d like to do with friends or set out a budget for shopping.
Following this, you have to keep disciplined. This is important if you truly want a memorable, self-funded holiday.
Furthermore, open up a savings account to increase safety of the earnings and get interest on it. Start thinking financially by comparing the local banks and their saving plans.
Do not save what is left after spending, but spend what is left after saving.
– Warren Buffett
Given these points, the upcoming holiday should be enjoyable and affordable. Work well during the semester and give yourself something to look forward to. Then treat yourself to a well-deserved reset and start the new year full of vim!
My word, this is so informative. Thank you for the ideas.