A threat of a recession looms in 2023, according to experts. And in this uncertain economic climate, protecting your income has become more important than ever. Whether you are a salaried employee or a self-employed entrepreneur, losing your source of income can devastate your financial stability. Fortunately, there are several strategies you can employ to protect yourself against unexpected events like job loss, illness, or a recession. So, do you want to take control of your financial future? Here are eight strategies you can use to protect your income.
Know and prepare for the potential risks As part of your financial planning and monthly budgeting, identify or consider all potential hypothetical scenarios that can cause financial instability. Think about everything that could go wrong in your financial life and how best to correct them. Create a plan should you lose your income or in case it is greatly reduced, and outline the potential short and long-term consequences. After doing this, determine what steps you can take to secure or restore your financial health. You can speak with a financial advisor to help you at this stage.
Don’t rely on the government for financial assistance Many people expect their governments to provide financial assistance during economic instability. In the US, for example, many people received financial assistance from the government to help cover living expenses while they remained stuck at home due to COVID restrictions. While these expectations make sense, the last thing you want to do is place all your financial eggs in one basket, as there is no guarantee that the government will come through for you. Instead, look for other ways to secure your financial health. For example, consider spending below your means, saving for the future with an emergency fund, etc.
Consider income protection insurance Income protection insurance is created to replace a percentage of your regular income in case sickness or injury makes it impossible for you to work for an extended period. This insurance can cover your daily living expenses while you focus on your recovery process.
Different insurance providers offer varying levels of income protection, so you need to speak with your employer to find the best policy for you. While income protection insurance isn’t a long-term financial security, it does offer some level of income stability to protect you during an uncertain period.
It is never too early to start investing in your retirement, as you can never be too certain about the longevity of your career. Regardless of the field or industry you find yourself in, injury and any other form of health concern can force you into early retirement, severing your source of regular monthly income. Start investing in your retirement as soon as possible to ensure that no unforeseen event drowns you in financial uncertainty. Your retirement savings can provide a source of income in your later years and help you maintain your living standard after you stop working. If you’re already contributing to your retirement savings, consider increasing how much you contribute. Of course, only do this if the increment will not affect your financial status.
Develop marketable skills The job market is evolving rapidly, and you must keep your skills current to stay relevant and employable. Take the time to develop marketable skills that will prove relevant no matter the changes in the general job market. It doesn’t matter whether you’re an employee or run your own business; such skills will help you create a steady source of income during an uncertain economic period. By developing skills in demand, you can increase your earning potential and reduce the risk of job loss. You can take courses or attend workshops to learn or improve new skills. And this leads to the next point.
Protect your intellectual property If you’re self-employed or own a business, you should protect your intellectual property. Trademarks, patents, copyrights, models, etc., will need protection if they fall into the wrong hands. Doing this can help you maintain a competitive advantage and protect your income from infringement or theft by others, so feel free to consider this.
Find ways to secure your career Try networking and building relationships with colleagues and industry professionals to help you stay informed about opportunities and trends. This way, you wouldn’t miss new opportunities when they show up. And even if you’re not actively hunting for a new job, keep your resume up-to-date to help you stay prepared for unexpected job loss or other changes in your employment status. Doing this will also help you identify areas where you can improve your skills and increase your earning. This may boost your job security and position you for long-term success, regardless of unforeseen situations, so feel free to consider this.
Moreover, it can help you recession proof your career. You should also have a strong work ethic, demonstrate reliability, and exceed expectations in your job. Think about pursuing certifications or additional courses to enhance your qualifications. And don’t be afraid to open up new challenges and opportunities while remaining adaptable to changes in your industry.
Diversify your income streams Diversifying your income streams is another effective way to protect your income. It means creating multiple income sources outside of your main job or career. Income stream diversification is one of the most reliable ways to support or protect your career or business. If anything unexpected happens, you can rest assured that you have alternative income sources to fall back on. In other words, by diversifying your income, you can end your reliance on a single source of revenue, making you vulnerable to economic downturns or job loss. For instance, if you lose your job, having a rental income or e-commerce business can help you to stay afloat until you find a new job. You can also capitalize on your skills by starting a side job. In some cases, diversifying your income will free you from the burden of searching for a new job.
Italy is a beauty to behold. My hubby and I traveled there last March and plan to return soon. This Easter season, I have the opportunity to go back through THE JOURNEY, a music special from Andrea Bocelli. The movie chronicles Bocelli as he travels with his wife on horseback for a sacred pilgrimage of hope, thankfulness, and gratitude. Hearing Andrea Bocelli and other artists featured, such as Michael W. Smith, Tori Kelly, Tauren Wells, and TAYA, share their testimonies of perseverance and God walking with them all the way makes this movie inspiring.
Andrea Bocelli, Veronica Bert Bocelli, and their horse handler
The great music performances of the artist mentioned, and others, across the majestic locations, really brought joyous tears to my eyes.
Michael W. Smith, Andrea Bocelli, and Clara Barbier Serrano
You will be mesmerized by the beauty of THE JOURNEY. Experience the inner awe of the music, the Italian landscape, conversations that make you think, and the reality of hope, faith, and love.
Andrea Bocelli commenting on his hope for you when you see THE JOURNEY
“My wish is that movie can offer an invitation to fully live and recognize our daily miracles.”
“We journeyed by horse for over 300 kilometers (186.4 miles) along a path that was not always easy to travel, but absolutely beautiful, made of meadows and forests; sacred places filled with lasting testimonies of faith, full of art of incredible beauty, and views in front of which one can’t but ponder about creation and the miraculous work of our Heavenly Father.”
This is a beautiful movie that the whole family will enjoy, so make sure you support it and see it. We need more movies that uplift and inspire us to realize what matters in life. Life is not about things; it is about relationships.
Tori Kelly, Andrea Bocelli, and the Solevoci Gospel Choir
You can watch the trailer here:
THE JOURNEY has a limited theater engagement, beginning April 2nd and continuing through April 9th (Palm Sunday to Easter Sunday).
Click HERE to purchase your tickets.
“Music speaks the language of the soul, penetrating into the past and resonating into the future, unearthing pain and tenderness and sorrow and joy, reminding us of our infinite fragility and extraordinary strength, reigniting our dreams and passions once again to remind us of who we are meant to be.”― L.R. Knost
Giveaway:
One of our readers will win a $10 Amazon gift card.
It is simple to enter the giveaway! Leave a comment below telling us about the importance of music in your life.
The giveaway runs through Sunday, April 9th, at 11:59 pm (Central Time).
One comment will be selected randomly, and the winner will be announced on Monday, April 10th.
**Please Note: This giveaway is limited to only residents of the United States.**
Disclosure:
Many thanks to Trinity Broadcasting Network for providing an opportunity to watch The Journey and write this review. All opinions are 100% my own.
Trying new things in the kitchen, like preparing meals with unusual shapes, can be a lot of fun. Making food with unusual shapes can be a fun and rewarding challenge, whether you’re just making pasta or trying to create elaborate dishes. This blog post will discuss the pros and cons of cooking unusually shaped food and offer some advice for beginners.
The ability to experiment with new flavors and textures is a major perk of preparing food in various shapes. For those bored with the same old spaghetti dishes, trying something new, like fusilli, penne, or rigatoni, is a great way to spice things up in the kitchen. Different sauces and toppings can highlight each shape’s individual texture for a wide range of tasty dishes.
To create visually appealing meals that are sure to impress guests or are worthy of an Instagram post, try cooking food in unusual shapes. For instance, a dish made with spiralized vegetables can be visually appealing and delicious.
However, there may be complications when preparing food of varying shapes. Certain shapes may require different cooking times, temperatures, or techniques, like to cook tri tip on a pellet grill because that is the best way to cook it. Noodles of varying thicknesses and textures can vary greatly in cooking time. Similar considerations may be needed when cooking vegetables that have been cut into various shapes. If you want your meal to turn out just right, you need to study the recipe and stick to it like glue.
Here are some pointers to get you started when it comes to preparing food of various shapes in the kitchen: Try out some new forms; don’t be afraid to branch out. Find some pasta, vegetable, or meat shapes you’ve never seen before. There’s a chance you’ll find a new go-to meal.
Always use the recipe as written, especially when preparing food with unusual shapes. You can then confidently cook the shape using the appropriate methods and techniques.
Cooking food of varying shapes and sizes is simplified with the right equipment. A mandoline, for instance, can help you cut vegetables into uniform sticks, while a spiralizer can help you make vegetable noodles.
Don’t forget about plating; foods of varying shapes can add visual interest to a meal. Try out new plating methods to elevate the visual appeal of your dishes without sacrificing their delicious flavor.
In conclusion, it’s possible to have a great time and tasty results when preparing meals of unusual shapes. It’s a fun way to experiment with food and can lead to some truly beautiful results in the kitchen. To achieve optimal results, however, cooks must pay close attention to cooking times and methods and strictly adhere to recipes. After some trial and error in the kitchen, you’ll be able to whip up meals of every imaginable shape and size.
Angel Studios, who brought you THE CHOSEN, is releasing a new film, HIS ONLY SON. For the first time in a feature film, the interconnected relationships of Abraham, Sarah, and Isaac are brought to life in a way that has never been seen before. There is emotion, doubt, depression, and faith. While the movie is based on the story found in the book of Genesis, it also includes a broad interpretation of the scriptures to develop the movie’s plot further. To fully understand the story within the context of the film, we recommend reading Genesis for yourself. You will see Sarah in a way you have never seen before. HIS ONLY SON is about believing in what the Lord has revealed to you, no matter how long it takes. For more on the movie, watch its trailer here.
HIS ONLY SONpremieres in theaters on March 31st. Click HERE to purchase your tickets.
Giveaway:
One of our readers will win a $10 Amazon gift card.
It is simple to enter the giveaway! Leave a comment below telling us when your faith in God has been tested.
The giveaway runs through Sunday, April 2nd, at 11:59 pm (Central Time).
One comment will be selected randomly, and the winner will be announced on Monday, April 3rd.
**Please Note: This giveaway is limited to only residents of the United States.**
Disclosure:
Many thanks to Angel Studios for providing an opportunity to watch HIS ONLY SON and write this review. All opinions are 100% my own.
We are less than a week away from the start of spring. But the way the temperatures have been, it has felt like spring for almost a month.
Do not judge, but my hubby and I finished taking down most of our Christmas decorations over the weekend. I usually keep a hint of the Christmas or winter season by keeping up a tree or a light.
It’s winter, but the warm temps have sprouted up the daffodils a little earlier than normal. Would you believe it was a warm Sunday when I had to run in the house from two bees who were too much of the aroma of my perfume? I was looking forward to some snow because we have not gotten much in our part of the country. I have known it to snow in April, and we even saw some flurries today. So I am not giving up hope for one good snowfall in the season.
Now is the time to start enjoying the spring tubers that are going to bud later. Getting ideas about what you would like to plan later this year or what dream landscape plans you have in mind.
What outdoor projects are you looking forward to this spring?
I am teaming up with Katherine from Katherines Corner and my other blogging friends to offer this Spring 2023 Giveaway. The winner will receive $100. See the details below!
spring 23 giveaway
Disclaimer from Katherines Corner: Some Katherines giveaways may have sponsors and/or reviews included. Katherines Corner may receive compensation for reviews and advertising provided through a sponsored giveaway. However, no compensation will influence the outcome of any review or giveaway win. Katherines Corner provides reviews to readers in order to provide an informed decision before the purchase. Katherines Corner and its affiliate Bobskatie Enterprises reserve the right not to publish a review of a product or products that do not meet the specified instructions provided to product submission companies or individuals. Reviews are posted in the appropriate section at Katherines Corner and may also be posted on Amazon.com (subject to product availability). This disclaimer is in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.” To enter, please log into the entry form using your email address.
Learn More About JT
Bubbling with Elegance and Grace started out as an outlet for my passion for fashion but has evolved into a place for me to teach, collaborate, and inspire. My hubby has since joined the team and we have been digital creators for 13 years. We are thankful for those who believed in us from the beginning and those who have just started riding with us on this lovely journey.
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