Your money is vital to your existence. You know this, of course! But it bears taking a closer look at your finance-related decisions to ensure you have enough money to live your life well. Both now and as you move through the years ahead. Here are some ideas for your consideration.
Take Advantage of Work-Related Incentives
Your employer provides you with a salary and the basic benefits. But is there anything else they have on offer that you are leaving on the table? If you are in the market for a new vehicle, look into your company’s benefit programs before moving forward on your own with a dealership purchase.
Check out the LoveElectric salary sacrifice option to learn more about it. Then ask your employer if it is available to you. If not, perhaps you can gently nudge them in the right direction. With this program, your employer leases the vehicle, and you pay for it by using pre-tax money. Essentially, instead of receiving a rate of pay, your payment for work in your current position is the amount of the car’s purchase divided over a certain number of months until it is paid in full. This is a convenient way for you to buy a new electric vehicle, save money, and make money-savvy moves over time.
Determine How Much Your Time is Worth
If you have a particular skill set that you have honed over your years in your current professional role, or you have a special talent, you have probably received at least one request from a family member, friend, or acquaintance to help them out with something. While it is always nice to help the important people in your life, its also a good idea to first determine how much your time is worth.
Start by figuring out whether or not you have time to fulfil these requests. Next, ask yourself if you want to take part or if it is a burden in your busy life. If you acquired your particular skills through years of hard-won education and training, those skills are valuable to you. If you choose to move forward with the requested projects, first decide how much your time is worth. That does not necessarily mean you need to charge the person making the request; however, consider whether repeat requests from the same person or even others would become problematic. If you would like to do a favour, go for it.
If you would like to monetise your time and request a payment, that is within your right, as well. Always draw up a legally-binding contract to ensure all parties are protected. Be confident in your decision, and know that you can make a different decision if another request is ever made of you in the future.
With these reasonable money-wise suggestions, you can begin to make smarter decisions about how you spend your money every day. Pay attention to special offers and incentives at work, and know how much your time and expertise are worth before you go and give it away for free.
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*This is a contributed post. As ever, all opinions are my own.
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