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Let’s think back to the end of 2019. With a new year approaching, people throughout the world were making resolutions, hoping to set out on paths that would lead them to greater things. Some wanted to get fitter or win their dream jobs—but one of the most common goals every year is to become financially secure.

The average person spends so much time worrying about money (often for good reason) that it’s one of the most practical objectives they can pursue. What no one could have anticipated was that a pandemic would strike early in 2020 and leave most plans in ruins.

Though it might feel more difficult than ever before, it’s still possible to make 2020 the year in which you become financially secure. Here are some tips for doing it.

Work as You Can

It might sound exhausting and frustrating at this point, but there’s no way around it: if you want to really secure your finances, you need to work. If you’ve lost your job due to lockdown measures, apply for unemployment and then start looking for remote working positions. If you haven’t lost your job, then do everything you can to show your value and earn any bonuses that are on offer.

What you do during this period could really set you apart in the long run. Keep in mind that most employers are accepting reduced productivity on the basis that it’s unreasonable to expect people to get as much done in
such challenging circumstances. If you can show that you get as much or even more done under pressure, you’ll build up momentum that might pay off when things start to go back to normal and employers are looking to promote again. (Please keep your own mental health in mind here, though! It’s not reasonable to expect yourself to be at peak performance all the time, either!)

And if you don’t think your current workplace will ever give you decent opportunities, then look elsewhere. Now is actually a good time since so many companies are considering remote workers (having been forced to get to grips with it): look around to see what offers you can find, and use them as leverage to get paid as much as you can.

Launch Your Own Side Business

As noted, there are various job opportunities that you can consider in the midst of the pandemic. If you have the energy and the determination to handle a full-time job and do even more, then think about setting up a side business. Even if it never grows, it might still make you some money—and it’ll definitely be a learning experience. If it does grow, then you might be able to turn it into a full-time business down the line.

You need to be very careful when deciding how much you want to invest in your business, because it’s tricky to get it right: if you invest too much, the risk will be too high, but if you invest too little then you won’t give it enough of an opportunity to succeed. It should depend on how much energy you have to commit to it and what type of business you end up attempting.

You can try selling products online or offering coaching or providing a service. Those are the three main categories in which you can drill down to find your niche. Take a close look at what’s already available on the market: if you can offer something that no one else can, and it’s something people really want, you can probably get somewhere.

Curtail Your Spending Habits

This is another point that might seem obvious but often gets pointedly ignored: you need to spend only when it’s truly warranted. You have to eat, yes, but you don’t need to keep buying luxury foods. Budget more carefully, buy ingredients in bulk (when you can), and stop getting meals delivered. It’s not just your food that you should take a closer look at. Where do you tend to spend unnecessary money? Entertainment? Clothes? Household goods? Personalize your budget to those areas that most affect you.

You should find that your spending has gone down somewhat regardless due to social distancing, but some people are trying to make themselves feel better about the relative isolation by spending more on luxuries. Don’t fall into that trap!

It isn’t about cutting your spending across the board. You should keep spending to some extent if only to keep on top of your credit score by keeping your credit cards active. Instead, it’s about getting rid of unjustifiable spending so that everything you buy serves a purpose that will further your goals. Investing in your future is still perfectly sensible if done with minimal risk. Take a course, for instance, or even look into investing. Just remember that your goal is security, not profit.

You Can Become Financially Secure

Despite everything that’s going on, 2020 can still be the year in which you get your finances in order and lay down the groundwork for your future, so don’t just sit back and wait for things to get better. Try these tips and head into 2021 in a great position to become financially secure.

About the Author

Rodney Laws

Rodney Laws is an ecommerce consultant with He has more than a decade of experience providing marketing advice to online entrepreneurs and businesses. He’s set up and marketed his own businesses and consulted on crafting campaigns for established companies.

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