COVID-19 has forced many of us to hit the “pause” button on our lives. Will your life look any different when it’s time to hit “play?” Now is the perfect time for self-reflection, and with that thought in mind, here are 3 financial tips that can help you in your search for a better life:
- Focus on needs rather than wants
The pandemic has reinforced the fragility of life, and the fact that we have little control over some things. Focusing on needs rather than wants can be a real eye opener. Lowering your monthly break-even can open the door to so many possibilities, such as a career or job change, working fewer hours, or starting a business.
- Examine what’s really important in your life
Prior to the pandemic, your life may have revolved around your work schedule. With a couple of months off, you may have found that you can look at work from a different perspective. Your new goal may be to find a way to fit your work around your life, rather than vice versa.
Were you taking long vacations to escape the grind of your work schedule? Could you be better off working less, making less, but feeling more liberated? You may find that consumption driven enjoyment doesn’t compensate for what you have to do to earn it.
- Find your breakeven
You may fear that scaling back your work hours might not be a financially viable option at this point in your life. Now may be the ideal time to take a look at your budget. Having a truthful picture on what you really spend may be a revelation. Focusing on needs rather than wants could open the door to the possibility of real change in your life.
The world is emerging from a forced pause, and so is your life. Will you have made the most of your pause, or will it be back to the same old grind? The choice, as always, is yours. May you wisely use the gift of self-reflection to begin to live the life you really want.