Looking for an income boost? Here’s how

Thirty is a good time to start financial planning for a brighter future

09:20 25 October 2013

It is often said in some quarters that life begins at 30. As far as working life is concerned, this is where you have to seriously analyse and introspect about what your future holds. At the age of 30, you have to contemplate about your future. Extra income streams won’t hurt if you are looking to secure it.

Sure, you can afford all those things you dreamt of when you were in your twenties. However, if you are not careful, you might end up laying waste to your future if you don’t have financial prudence.

The following is a brief look into some ways that you can boost your income if you are in your thirties.

• Pension and Financial Planning : It is never too early to start

 

If your list of expenditures is as long as everyone else’s, then you probably haven’t factored in your pension somewhere. When you are young, there is a tendency of thinking that the future will take care of itself which is hardly the case.

To this end, it is imperative that you look for schemes that are in line with what you want to do. You are not only limited to work place pensions schemes. There are some schemes out there that offer competitive rates of return.

• Invest

Sometimes saving is not enough. It’s all about addition. What you want to do is multiply your money and add to it in the process. Investments are the best way of doing so. This requires you to have keen eye for promising ventures and start-ups. If you are new to investing, go low risk so that you can learn the ropes. Gradually, you will know what to look for in a good deal.

• Savings

You can capitalise on the interest rates offered by ISA, if you think that investing will be a tall order. Learn more about different ways to save money and start paving the way for a more financially secure future.