As a millennial, would you rather book an affordable trip to some exotic destination on a budget now, or fly to the destination of your dreams armed and ready to splurge later?
As tempting as the first one sounds, with all the affordable flight offers popping all over the internet, young professionals must be able to determine if this really is a win for them than a setback taking them off their focus towards working through their financial goals and career purpose.
Yes, travelling has a lot of educational and life lessons to teach one, but not all travelers have this goal in mind when going abroad. It is easy to tell yourself that travelling is a way for you to have a better grasp of your purpose in your life and career, or perhaps to satisfy your need for a break or a breather from the 8-6 job. Although travelling may be an answer for some, not all are able to find what they want to find when they put their city lives on hold. There’s a tendency to get derailed from your goals when you keep escaping it through travelling.
One thing you should focus on is honing yourself to be better at your craft. If you constantly dread what you do in your job now, maybe you’re looking at it wrong. Invest on yourself by learning new skills that will help catapult your career to where you really want to be. Focus on your goal and not on the constant need to gratify yourself after surviving your routine at work. Sometimes it’s better to put indulgence on hold to focus more on working towards a larger goal that will help you enjoy better luxuries with no financial setbacks when the time comes.
Examples of parlaying your earnings towards long term goals and rewards include learning new skills to increase your market value, such as short courses or master’s degree programs that you can complete while maintaining your day job.
Of course, you can also try entering into small businesses or simple investments to augment your current earnings. Another option is joining the sharing economy to make additional funds on your own time, as done by Uber operators and AirBNB hosts. You can even charge for your expertise as a freelance professional, offering consultation services online through sites such as Upwork.
CNBC: According to Grant Cardone, hard work and saving for tomorrow have to take priority over cheap fares and travel today.
Self-made millionaire and inspirational speaker Grant Cardone made headlines earlier this year when he said, “I suggest that Millennials pay the price today so they can pay any price tomorrow.”
As young professionals, the need to prioritize expenses for the long term must be top priority. The importance of working towards financial freedom before anything else gives assurance for a secure and stable future for you, so when the time comes, says Cardone, you won’t need to fly economy.
Truly, with the right financial planning and goal setting, you can see the world on your own terms.