With the horrific spread of COVID-19, we are all practicing (or should be practicing) social distancing in an effort to slow down, and eventually stop, infections and exposure. It’s a difficult time for all of us, some more than others, as the world attempts to come together and combat this virus.
While we’re in solitude, many of us will work from home. I truly sympathize with those whom may not be able to, and are either forced to put themselves at risk by going to work, or are forced not to, and potentially having their employment in jeopardy.
Regardless which category you’re in, this is the perfect opportunity to re-evaluate our lives, and within that our finances. This can be a wake-up call that many of us are far too dependent on our jobs to live, as it can be taken at any time.
Most of us know we should “save money, have an emergency fund, keep debt low, etc.” to keep us secure in economic downturns like this. Hopefully we’ve done that, as the best time to prepare and to plan is during the good times.
However, one thing that is important to evaluate is not just how much money we have or make, but HOW we make it, a.k.a. your job. Do you like your job? Is this what you want to be doing? Would you still do it if you weren’t paid?
This could be the perfect time for all of us to reflect on this topic, as too often we’re too busy and distracted to see where we’re going with our lives. Our happiness and self worth are more important that what’s in our bank accounts, and maybe we begin to give more thought as to how we correlate the two. I’ve always been an advocate for financial intelligence and the important of personal finance, but what can be far more rewarding is living the life you want, whatever that entails, and if that can also bring about a better financial life and prosperity, kudos to you.
So during this social distancing, let’s give some attention to this topic.
It’s rather obvious that many of us stay at a job just to support ourselves and our families. So, after you’ve thought about what you would rather be doing, the next obstacle to tackle is that. How can you replace the income from your job so you can be free to do what you love?
It’s possible to monetize anything nowadays. For instance, if you love to travel and see yourself living that sort of lifestyle, you can begin a podcast or video channel that people can watch to learn about your adventures. Sure, this takes more creativity and initial work to get started, but views can lead to dollars.
If you’re unable to find a way to monetize your interests, consider making investing an interest. I know that sounds weird, but I believe that everyone should learn how to invest. Whether we like it or not, money is the single issue we must all face, and learning to manage, control and grow it is essential if we want to live a life of more freedom and personal fulfillment.
Maybe you already receive this personal fulfillment from your work, and have a sense from freedom. If so, that’s great! You’ve accomplished what many of us haven’t. Still, its important to understand your finances and be prudent, so you can be prepared for tough times like this.
Hopefully we can stay safe and secure in these times, and help others where we can. Let’s also help ourselves get to where we want in life. Let’s live more consciously and give ourselves the freedom to live the life we want. Let’s use our time wisely and figure out answers to these questions we ask ourselves.
What would you rather be doing?
Your Future Self.
Your Future Self 