Think outside the square on money

Think outside the square on money

Vanessa Stoykov

With the pace of change faster than anything we have seen in our lifetimes, now is the time for you to join in and make some change happen for you and your money.

Someone once gave me some advice: “earn more, and spend less”. The advice annoyed me no end as a 32-year-old entrepreneur – I wanted ways to make more money without having to cut my expenses.

But the older I have become, the more I realise that at its core, this is the most basic advice you need. Because to improve your money situation, you either have to bring more in, or have less go out.

There are always ways to make your lifestyle “skinnier” – and only you know what you can and cannot stand. But I would say taking all the joy out of your life to save money is not the answer. You still need to include outings, holidays and ways to spend time with your family and friends.

So, be as hard-headed as you possibly can around where you can cut. Do it and put that plan into action. Then move on. Because the far more exciting possibility is to see where you can make more.

There’s been a lot of talk of side-hustles over the past few years, and it’s become quite a thing for many people to have more than one source of income. But what if you turned your whole earning proposition on its head? Could you start a business? Working from home has never been more acceptable. How can you make more money doing things you enjoy? 

I have found the only way to be truly productive is to plan and schedule your time. I do this weekly and monthly (daily is too late) for what I will be spending time on. If you can put into your schedule a three-hour block to spend time researching each week, or maybe an hour a day, depending on how you work better, you can start to research and explore the internet for ideas and inspiration to take you in a new direction – that gives you both satisfaction and dollars.

If you don’t start investing in yourself for the future, you will always be stuck treading water, and living a life that feels like there is never enough. You deserve more. So make your first investment be your time. As you watch our latest season of Secrets of the Money Masters, you can see how others have set up their financial goals – and how that will have to change because of COVID. It will serve as a good thought starter for you.

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