So you’ve finished school and you have a solid job. Do you ever feel like you are just winding down the clock? Do you ever wonder what the next steps should be? Even the most driven people can sometimes lack direction.
Mortgage and other debts
First and foremost, you should look at accelerating the closure of your debts. Mortgages, student loans and credit card bills can always use a kick along to give you greater stability and in turn, peace of mind. You don’t have to solely focus on your debts – perhaps just think about getting them down pat in half the time that you originally projected. That money you put down now is dollars maximised for recreational pursuits in the future
Education and upskilling
There is nothing more valuable to a company than a highly skilled and experienced worker, no matter what industry you are in. Is there a course you could be doing to make yourself stand out from the rest? Maybe you have dabbled in the thought of management? Make yourself absolutely expendable and give yourself a huge bargaining chip when raises and promotions are put forward. Spending a little of your money and time to improve yourself professionally can pay dividends.
Update your home
When you hear the word “renovation” what immediately springs to mind? It’s probably a project or goal you have put off for far too long. Your home is your stronghold and should reflect the best of you. Do you like cooking? Maybe an updated stove or pizza oven is in order. Are you an entertainer? That new deck beckons. Are you a bit of a homebody? A new entertainment system or gaming console would be something to consider. Fill your oasis from work with things that you enjoy. You have worked for them after all.
Invest to solidify your wealth
Investment is an ever-shifting and always challenging beast. It can be tamed with time and persistence, however. Buying, trading and selling shares is a surefire way to maximise your wealth portfolio. And it doesn’t end with the stock market. Property markets around the country and constantly changing and this can be used to your advantage. A bit of extra capital can go a long way. Seek out private upstart companies that you think deserve some merit. Who knows, you may be an early investor in the next Facebook.
Travel
Ancient theologian Augustine once said that “The world is a book and those who do not travel read only one page”. So go out there and get reading! With globalisation, stable economies and declining poverty, there has never been a better time in human history to travel. George Bradshaw was an apprentice engraver in the 1800s who, in the pursuit of his love of cartography, travelled the world writing the now-famous Bradshaw Handbooks. If you’ve dreamed of strapping a bag on and walking out your front door, now is the time. Nothing will open your mind more than journeying to a stranger shore. Travelling to understand different cultures offers a wealth of invaluable experience, far more than taking the same weekend trip to the coast a few times a year. If you have never travelled before, remember the adage: “the best time to plant a tree was 20 years ago. The second best time is now”.
So there it is. Five of our best tips for maximising the enjoyment you get from your wealth. Money can be for spending or for saving. The former is much more fun. If you have any other tips, please feel free to comment!
– Rory Callaghan