To become financially stable is often difficult, but doing it while maintaining your mental health is harder. The hard part is finding what career will not only support you but also keep you mentally healthy. So often we will work so hard and so long at a job that is just no longer mentally stable for us just to ensure we have the financial means to live.
Become Financially Stable & Protect Your Mental Health
The majority of us will have to work to get by in life. It is something that we will do for roughly eight hours a day, five days a week. Which is a lot of time. So, you should do your best to make your working situation agreeable to you and something that you actually enjoy or, at least, do not mind.
The majority of people work in employed positions. This is when you work for someone else’s company, with agreed working hours and targets, in exchange for an agreed salary. When you are employed, you also get other benefits. These will depend on employment laws where you live and your employer, however, some examples could include annual leave, sick leave, compassionate leave, parental leave, and more.
While almost all employed positions obviously pay you way less than you are actually generating for the company (as this is where the business you are working for derives its profit), you do get the financial stability and are provided with working equipment rather than buying it yourself.
There are different types of employed positions to consider, of course. With everything that has happened in the world over the course of the last 18+ months, many companies are seeing significant value in total remote employment or a hybrid model that consists of a rotation of days physically in the office and working remotely.
While other businesses have no choice but to rely 100% in the office or on location. It would be pretty hard for a builder to build a home remotely of course or an electrician to rewire outlets while sitting at their desk with a laptop. However, if you are in telemarketing, marketing, cubicle sales, etc., you may be able to talk your boss into allowing you to work remotely and become financially stable. That in itself will help your expenses since that would mean less commuting, which means less wear and tear on your vehicle and less gas usage.
Running Your Own Business
If you’ve experienced employed work, and find that you don’t like building someone else’s fortune for them, and want to take more control over your working life, you may want to consider running your own business instead and work to become financially stable. This, of course, will take a lot of work, to begin with. But the more success you experience, the more staff you can bring in for tasks like admin, order fulfillment, marketing, API testing and more, to free up your time and reduce your workload.
Running a business is also a risk, as you could find yourself investing in setup and the product or service you design not taking off. But, by taking things in small steps and avoiding diving right into the deep end, you can minimize these risks. To ease yourself into this process, come up with a product or service idea, come up with a brand idea, and undertake market research. This will give you insight into whether your business idea has potential for profit!
If you like the idea of being your own boss, but don’t necessarily want to have run a whole business, being self-employed could be a good option for you to become financially stable. When you are self-employed, you work for yourself, selling a skillset you have to others.
You will build relationships with different clients and you will complete projects on their behalf. This will give you a lot more control over your work life and freedom. You’ll find that you get to choose who you work with, what projects you will take on, the rate you charge, you can work from home and take leave as you want. The more you build the relationships, the more you can become financially stable since you will have a steady income from consistent customers.