5 ways to ensure financial stability in the future

Introduction

COVID-19 and the spread of the pandemic have had a huge impact on the national economies of most nations of the world. Among the world's worst-hit is Australia. Sectors in the country like hospitality and tourism have been hit the hardest. As per the reports, one in ten people have lost their jobs due to the pandemic and do not have a regular income source anymore.

For the students who study in the country, the pandemic brings about a lot of uncertainty and panic. Countries have lost their job markets and millions of people are out of a regular source of income. However, the silver lining is that the Australian government is proactively making more policies that help their citizens gain a regular source of employment.

Students can take up part-time jobs in Australia to battle the pandemic and earn a little extra income on the side. These odd-jobs are not career prospects but simple and effective job vacancies that are made accessible by the government to help the citizens.

Widespread unemployment in the time of the spread of the coronavirus pandemic is a cause of concern for the global economy as well. Hence, the measures taken by the Australian government to help people get jobs is done in good faith. There are a lot of other industries that are offering a ray of hope to the Australian workforce and the overall Australian economy.

Here are some of the ways in which you can ensure financial stability in the future

There are a lot of ways and a lot of habits that can make you financially stable in the future. Some of those ways and habits are listed below:

Taking up a job

Some different jobs that you can take up to make yourself some extra money on the side are:

Security Agencies

Jobs at security agencies are booming at this time. This is because a lot of people are not visiting their offices at the moment which leaves these offices empty. Since they are fixed assets of the company, they cannot just be abandoned. Hence, students can apply for jobs of security guards for private and public properties. This does not even require a university degree or any other kinds of formal education requirements. There are, however, some preferences of the company and they prefer to hire people who have Certificate II and Certificate III. If you want more details about the security agencies, you can also check Asset Security Courses or Advance Training's CPP20218 Certificate II in Security Operations (Crowd Control/Unarmed Guard).

Jobs at security agencies are booming at this time. This is because a lot of people are not visiting their offices at the moment which leaves these offices empty. Unsplash

Doorstep delivery jobs

Restaurants and other diners, along with cafes have been shut down indefinitely. People are so scared about the pandemic that they fear going to public and communal places even if they open at a 50% capacity. Hence, even though the people cannot go out to dine, they would love a service that could let them have delicious food right at their homes. Doorstep delivery services!

If you have a vehicle of your own and prefer to drive most of the time, you can apply to become a deliveryman for doorstep delivery services. There are several doorstep delivery services for food in Australia like UberEats, Menulog, Deliveroo and others. You can apply to any one of these services. There is a high chance you will get a job there because there is an increasing demand for such kinds of services. They also prefer hiring students because of the kind of efficiency that they can bring.

Courier pick-up and delivery

As people cannot go out shopping for their favorite clothes and/or household accessories, they have no option but to opt for delivery services from e-commerce websites. And the more people order online, the more the demand for courier delivery men increases. Hence, this service is not going anywhere anytime soon. When people order more stuff off of Amazon and other e-commerce giants, they have to pay for the delivery and shipping as well.

Warehouse workers

It is not necessary to work as delivery men either. Students can also become warehouse managers or movers who can help with the logistics of the delivery of the packages and couriers. There is also a high chance of promotions and better pay if you get the opportunity to work for big e-commerce giants like Amazon and eBay. Hence, in the era of the pandemic, one of the best places to work is the online sector, whatever way it might be.

Earn your money doing something that you enjoy

Make sure that your primary income source comes from a job you love. A typical office worker spends a third of their day on work. Make sure that time spent is worth it.

The pandemic has forced everyone to stay indoors and suddenly we find ourselves with a lot of free time to spare. Here is a quick tip to utilize this time to your benefit and make some good money as well.

Start a blog! With a blog, you have the perfect platform to express your opinions, share your skills, knowledge and connect with like-minded individuals. The best part is, you don't need any capital investment or technical skills to become a blogger! All you need is an idea and an internet connection!

To improve your skills, you can take up online courses in digital marketing, SEO optimization and content marketing solutions. Digital marketing techniques give your blog a much-needed boost, improving your overall web visibility and chances of monetization.

Create an emergency fund

Nobody is devoid of emergencies. The worst part of emergencies is that you can never predict them. Hence, it is very important to have some income saved, especially if you're living paycheck to paycheck.

Keep a contingency fund in place that you can use to tackle any adversity. Also, ensure that you have your life insurance and health insurance in place. Medical insurance is especially mandatory especially considering the global pandemic that has crippled the population.

Pay off your debt

If most of your salary is spent on premiums and loans, you can't save much for the future. To make sure you're financially stable in the future, you have to make sure that you become debt-free as fast as possible.

With a blog, you have the perfect platform to express your opinions, share your skills, knowledge and connect with like-minded individuals. Unsplash

Consistency

The key to having a stable financial future is to make sure you're sticking to these healthy habits throughout your life. Discipline is very crucial when handling money and you must take care to invest a lot of your willpower into this enterprise.

I often advise readers to plan a budget at the start of every month and allocate their earnings smartly. Learn to prioritize your expenses. This way you don't end up broke at the end of the month and actually manage to save something.

Living on a budget doesn't mean that you don't enjoy your earnings though. Keep some money aside for little luxuries. You are allowed to splurge a little, provided all your basic expenses are met beforehand.

Special note: How can student loan financing save you thousands of dollars?

Student loan refinancing should never be confused with student loan consolidation. Loan experts agree that if student loan refinancing is acquired from the best refinancing companies out there in the country, the students can avail themselves of awesome student loans at better rates and lower liability. The cherry on top is the fact that if you have a good and strong credit score as an individual, you can also get a lower price.

If you cannot fulfill the requirements, then you have to bring with yourself a co-signer who will be willing to sign on your behalf and get you that lower interest rate. A co-signer can be any adult who is willing to share the risk that you are taking. They should also financially mature and qualified, preferably. Parents are the most common cosigners of student loans in this country. Other cosigners are also grandparents, aunts, uncles, siblings, cousins, and friends who have the ability to help you out with your student loan.

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Author's bio

As an assignment expert, Jane delivers online sessions at Expert Assignment Help (UK), helping students with writing essays and assignments. She is also one of the co-founders and education consultants at Top My Grades. Beyond work, you can find her at community homework workshops as a volunteer helping students in need of private tutoring with their homework.

(Disclaimer: This article is sponsored and hence promote links of commercial interest.)