In this day and age, we have screens in front of us all the time.
Whether we’re staring into that tiny phone screen or a laptop, we are often on the hunt for how to get more out of life.
Millennials (and other generations) are all too familiar with the crippling effect social media and the internet can have on us. We’re constantly seeing other people who seem to have it all together.
They work a job they love. They never seem to worry about money.
The journey of building a life you love can be confusing. You may not even know how to get started and what steps to take. Figuring out a way to consistently improve yourself and your situation can be challenging.
If you’re feeling stuck and burdened by your current situation, here are seven things you can do to get more out of life.
1) Go Beyond a Money Metric
We all have financial goals we want to reach. Often times, our eyes are so focused on a set number we want to hit, that we forget to consider the reasons why we choose certain money metrics.
You could make a proclamation that you want to pay off $10,000 of debt this year. Putting out a specific number feels good. Although it can lead to becoming too focused on the number rather than the reasons for pursuing it.
In the pursuit of hitting these money metrics, motivation fluctuates and we get the urge to throw in the towel and quit.
Step back from a specific money metric you may have set. Remember why you started in the first place.
Chasing these big, audacious goals is more about setting yourself up with good habits rather than hitting a specific number. Yes, it can be good to pay off debt or save a set amount for an emergency fund.
However, we can learn to appreciate the habits we’re forming in the process. From there, these newly instilled habits can be translated to other areas to help you get more out of life.
Remember, personal finance is all about commitment and consistency. If you ever get burned out from chasing a specific money metric, remember the habits you’re learning in the process.
2) Don’t Wait for Permission
We’re set up from an early age to work within structure. We go to school for 12 years, attend college, and then work a full-time job.
Working within a structured environment is all we’ve ever known. It’s routine and normal for us to wait to be noticed for a promotion or raise at work. The only version of success shown to us is within the confines of a job or school environment.
It’s hard to think for ourselves. The natural inclination is to wait for permission.
Waiting for permission won’t help you get the life you want. Instead, it will delay it from happening. Take the first step to creating a life for yourself.
Learn some new skills to get a raise at work, research different potential side hustle ideas, figure out ways to grow your income to achieve your financial goals.
Don’t get in the mindset that you can’t do something. Obstacles and circumstances vary but anyone can improve their situation. It involves getting rid of the notion that someone else is in charge of building up your life.
3) Enhance Your Financial Knowledge
Money touches many aspects of our lives. Whether we care to admit it or not, it is a driving force in determining our quality of life.
Master your financial situation so you can get more out of life. Get down and figure out how to make personal finance topics fit your situation. Read stories and strategies others have used to pay off debt, save, spend, and make more money.
Review your finances periodically. How much debt you have, your payoff plan, tracking income and expenses, and understanding your savings account.
Find different ways to approach your financial roadblocks. When David had $100k in student loan debt, he sought out ways to tackle the problem. This included getting organized, finding higher-paying jobs, and pursuing multiple side hustles.
This was the basis for his book Hustle Away Debt, in which he breaks down how he tackled student loan debt via side hustling.
4) Save For Your Guilty Pleasures
Cutting expenses can be very beneficial. Although at the end of the day, everyone still has a few guilty pleasures.
Rather than cutting them out and depriving yourself, figure out how much you can afford to splurge on your guilty pleasures every month. Decide on an amount that works with your budget and financial goals.
Create a separate, dedicated online savings account to keep track of your different saving goals. Set up an automatic transfer to go into the account to allocate for any guilty pleasures.
Strategic splurging as I like to think of it. You can get some of the things you like without completely abandoning your financial goals.
5) Try a No-Spend Challenge
Saving and allotting for your guilty pleasures is good, but sometimes it’s good to shake things up a bit. No-spend challenges disrupt your regular routine.
They can work in two different ways. You can do a no-spend challenge where you buy nothing but necessities or one where you cut spending in problem areas like eating out or shopping.
No-spend challenges allow you to get more out of life because they force you to get creative with what you already have. You’ll be able to figure out any spending problems there may be in your budget.
6) Define Your Savings Goals
A clear and defined end goal is the key to hitting your savings goals. Don’t stop at just a set number you want to hit. Break it down and figure out the steps and habits to achieve it.
Let’s say you want to save a $1,000 starter emergency fund while you pay off debt. Break it down into monthly targets. Think about what habits you can do to get there faster. These could include:
- Saving $200 per month for five months
- Using Ebates for online shopping so you can earn cash back
- Opening up an online savings account
Even if you don’t hit your goal on target, getting specific allows for a greater chance of success and motivation.
7) Make More Money
Making money outside of a traditional job is empowering. Not only do you get to make extra income, you also get to test out your entrepreneurial and time management skills.
A side hustle has the ability enhance your skill set and connections. It gives you the ability to reach your financial goals faster and learn more about yourself.
There a common side hustles like babysitting, driving with Uber, or taking surveys. Long tail side hustles like blogging, freelance writing, and digital marketing let you put your creativity into action to make extra income.
You have more control over your side hustle endeavors than you do with a full time job.
There is no set plan for making more money. Focus on starting rather than waiting around for the perfect idea. Find a way to make your first $1 in extra income.
From there, you can grow and revise along the way. Side hustles allow you to get more out of a life than what a traditional full-time job may be able to provide.
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You don’t have make big, sweeping changes in order to get more out of life. It’s important to just start somewhere.
It all starts somewhere. Do things and challenge yourself to get more out of life.
What are some strategies you’ve used to improve your life? What change had the biggest impact?
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perfectly agree with all the points:D
This is a solid list. I love #2 ‘Don’t Wait For Permission.” Sometimes in life, you just have to do things. Always asking for things will have you procrastinating.