4 Ways to Invest, Even During COVID-19
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You may be disappointed or even worried over the current state of the economy. It’s understandable. Many are facing a reduction of hours, furloughs, and even job loss. Others may be facing issues with their retirement funds or investments. We don’t want to minimize those struggles, so remember we’re here to help you. See how we’re standing with you here.
As many of us are still practicing “healthy at home” and slowly re-entering a new normal, we hope you’ll take this time to invest. Your first thought may be the stock market, but that’s not what we’re talking about here. Here are four ways to invest, even as we continue to face COVID-19:
- Invest in yourself.
Really think about this one for a second. What would this look like for you and others in your family? This might be starting a workout routine you’ve put off for years. Or, maybe it’s setting aside a specific time just for yourself every week. That’s hard to do when you’ve got a full house, but it may be just what you need.
There’s a ton of ways to invest in yourself, but if you’re not sure where to start, here are a few examples:
- Set aside time to read something you enjoy: Comics, newspaper, magazine, a novel, etc.
- Journal or meditate.
- Learn something new (for fun!). This could be cooking a new recipe, painting, gardening, etc.
- Decide on one area you want to improve about yourself and decide on 1-2 steps you can take to do so.
- Invest in your home.
You can not only update your home but also receive tax credits while doing so. Certain tax credits for energy efficient changes have been extended through the end of December 2020. This includes things like replacing your roof, windows or doors. You can learn more about the tax credit guidelines and eligible products here.
Even if you don’t have the extra cash to do big projects like this, take an afternoon to clean and organize. Making a few simple changes can help you and your family feel like you’re living in a new home. Some examples:
- Create an inviting outdoor space. This doesn’t have to be fancy, but by adding a few flowers and some chairs, you’ll quickly have a new favorite spot.
- Rethink your pantry/kitchen with simple organization techniques. Label small cardboard boxes or plastic bins to help keep your pantry organized. Or, hang sturdy baskets on your pantry wall to store potatoes, onions, or snack foods.
- Paint something. This might be painting the front door, spray painting an old lamp base, or even your kitchen door handles. A new coat of paint can give old things a fresh start.
- Add more lighting. Maybe this is simply just adding Christmas lights to your kid’s bedroom or stringing them across your outdoor patio. Or, maybe you need brighter light bulbs in the dining room or your home office. You’d be surprised how different a room will look with different/additional lighting.
- Invest in your career.
So many are in limbo with their career right now. If this is you, you’re not alone. Use this time to pursue more education. Yes, this could include college, but remember learning isn’t reserved only for the classroom.
Find industry related books to read. You might be surprised at what’s available even at your local library. Try learning a new skill in your industry through lynda.com (which may also be available through your library) or even watching trustworthy Youtube channels. Or, maybe there’s a certification you could focus on to improve your resume.
If nothing else, use this time to really think through what you want to be doing. If you’ve been in a job that doesn’t fuel you, where do you want to be and what steps do you have to take to get there? Start thinking through these questions and building a plan. Educate yourself and continue dreaming!
- Invest in your hobby.
You’ve put it off for months, if not years. Projects lay halfway finished or unstarted around your house or garage. So, pick it up again! Choose just one project and set a goal date for it to be finished. You’ll be able to look back on this time, even if you’re currently not working full-time, and see an accomplishment.
If you’re wanting to learn a new hobby, search for videos on Youtube, grab a book at your library or start searching Pinterest for ideas. There are so many different projects and hobbies you could have fun with. The important thing is to tap into your creativity and create something you’re proud of.
Investing time in yourself, your home and your family could help you create a new normal as the world begins to open back up. You can always think of negatives, but try your best to think of how you can use this time in a positive way. Build connections, try new things, learn and create.