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We have all been affected by the coronavirus pandemic, though some more than others. If you fall into the former category, you’re likely struggling to figure out how to effectively plan your budget when the job market is volatile at best. But do not despair. Even as we’re in the proverbial trenches, you don’t have to let yourself get buried in financial worries. Here are some tips to help you make cash, save cash, and maybe even set yourself up for long-term success.
Don’t Shy Away from Part-Time Employment
If you’ve recently lost your full-time job, the idea of switching to part-time employment may not be that appealing; after all, you are used to bringing in a full paycheck. However, many part-time positions not only pay well but also give you something to add to a resume.
Embrace Virus-Related Job Opportunities
While the restaurant business, automotive manufacturing, entertainment, and many other sectors have taken a huge hit, there are some industries and companies that are booming in the current crisis; according to CNBC, CVS, Oracle, K12, and Amazon are among these. Similarly, there is a good chance your local grocery stores are looking to add new hands to help fill orders as customers have shifted to pickup and delivery services.
Market Yourself as a Freelance Expert
A freelancer is similar to someone who works part-time. However, instead of earning a set hourly rate, receiving a regular paycheck, and having taxes taken out, a freelancer charges what they believe to be fair for their expertise, collects payment per assignment or at an agreed-upon date each month, and has to keep money out for quarterly taxes. And there is almost an unlimited number of things you can do as a freelancer. If you’re in accounting, for example, you can freelance doing books for other small businesses. If you are a writer, administrative support professional, or architect, you can also work from home by setting up a profile on Upwork, where you can dive into freelancing and earn an income on your own terms.
Dress for Success
We have all heard the term that clothes make the man (or woman). This is absolutely true, and the right outfit can give you confidence and tell a story about your experience and ability to complete the job at hand. And even if you are interviewing via video chat, it pays to invest in clothing that accurately portrays your enthusiasm for the job. The good news here is that many retailers, including Nordstrom Rack, offer name brand clothing for a reasonable price. And if you are still struggling to justify the expense, you can often find online promotional codes, cashback, and valuable coupons for Nordstrom Rack and more.
Cut Unnecessary Expenses
Sometimes, the best way to enhance your budget is to cut out any unnecessary spending. You may be surprised at how much money you drop on small things. Wells Fargo uses coffee as an example. If you spend around four dollars each day at the coffeehouse, that’s more than approximately $1,400 each year down the drain. And although you are likely not eating out every night in the middle of a pandemic, the average American household does spend around $3,000 per year having someone else cook and prepare their food. Even when life gets back to a new normal, you’ll save money if you just focus on learning how to do things on your own, such as brew gourmet coffee or cook a restaurant-quality meal.
When your budget is at stake, you have to get creative. Fortunately, there are jobs to be had, you just have to know where to look, and you cannot be afraid to market yourself. Cutting out expenses is an exceptional way to make your dollars go further. A final thought to keep in mind is that this will not last forever; the pandemic will end. Most of us will get back into a routine, even if that means a new normal, such as enjoying a blossoming entrepreneurial career.
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