Five Simple Ways To Prepare For The Future As A Millennial

lifestyle millennial

I really hate the term 'millennial', but for the purpose of this blog post, I will refer to the word throughout.
Back on point, I strongly believe that you are never to young to start preparing for the future. For myself, one of the things I'm trying to do is set up a private pension plan, because I'm self-employed and even though I pay National Insurance, I need a pension pot. I'm also looking to invest and set up passive income streams.

No matter what how much you're earning or what your circumstances are, it's always good to start preparing now. You don't have to make massive steps immediately but every little helps. I still have my plans in place even though I  have a massive student debt and a low and unstable income.

Here are some of the ways to start setting yourself up for the future as a millennial (or young person).

1. Diversify your income
From financial workshops I've attended to reading lifestyle articles, this is one of the biggest lessons I've learned. In the day and age of the changing economy, having more than one stream of income is more important than ever. After all, you never know what could happen, so having more than one stream of income is a great way to create a financial cushion for yourself. I make money by freelancing and blogging, but I'm currently trying to establish a passive income stream too. I am also looking for a part-time job in my industry so that I can relocate, improve my current lifestyle and save up more money.

2. Start saving for retirement
Like I said, I am currently trying to figure out a way to set up a private pension pot because eventually, like most working people, I will retire! Even though my generation will be expected to work until the age of 70 at least, but to be honest, I'd quite like to retire early. If you work in a job, check if your boss is paying into a workplace pension. If you're self-employed like I am, then make sure you research pension schemes that may be applicable to you.

3. Set up a will
I really hate to think or talk about this, but it is inevitable that we will all die one day, so set up a will. If you're worried about the time or cost to do this then don't fret - Awesome is here to help. You can create a will at a discounted rate and protect everything you've worked for. You can start creating a will now or snooze to remind you to set one up later.

4. Learn a lucrative skill
This is related to my previous point about diversifying your income. Learn or utilise a special skill that could help you to make extra money that you could save up towards your future. It could be anything: blogging, illustration, babysitting, dog walking, copywriting, crafting, ebay selling, web design - anything! You never know when it might come in handy.

5. Take care of your health
Take special care of your body, mind and soul. You'll be likely to reap the rewards later on in life.

How are you preparing for the future as a millennial?

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