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Personal loans aren’t just for holidays and birthday parties, they can also be used to help you get the most from your working life. When you use a personal loan in this way, it starts to feel more like an investment than an expenditure, as you are giving yourself the best possible chance to increase your earning potential. This is Asteria’s guide on how to use finance to help you improve the quality of your working life and ultimately, make your money work for you.

Upgrade Your Wardrobe

What you wear at work matters. Whether you’re a plumber or a stockbroker, the clothes you wear during the working day need to be right. Investing in clothes for work by using a personal loan is a sensible way to make finance work for you. A new suit or pair of shoes could make all the difference in that important meeting or interview. Similarly, a good quality pair of overalls and a professional quality pair of work boots can last you for years. The old adage, “buy cheap, buy twice” is definitely true, especially when it comes to clothes we plan to wear for the majority of the week. Investing in a set of professional looking work clothes means that even if you decide to change jobs or are made redundant, you can arrive to interviews feeling confident and professional.

Learn a New Skill

In the 21st century, the average person is likely to have around 7 different jobs in their lifetime. This means that learning new skills is something that should be seen as an ongoing process, rather than something that is only for younger people. Paying for a vocational course, further academic study or something more specific to your own industry by using personal finance is on one of the most sensible ways to use loans or credit cards. As always, you should ensure that you can afford to cover the repayments and live comfortably, but if you are considering changing careers or starting up a side business, a short term personal loan could be one of the easiest ways to find the funds you need quickly.

Cover Your Transport Costs

Transport to and from work is something many people forget to factor into their daily expenses, leaving them short on spending money and disposable income. Using a personal loan to cover the cost of transport is a great way to ensure that you can always get to work, even if you don’t have very much money coming in. Season tickets for trains, buses and trams are always cheaper than paying for single journeys and for those who travel internationally to work, booking flights earlier, rather than later is a guaranteed way to save money. Using personal finance to fund your daily travel is a good option for those who are starting a new job but don’t have any funds available to pay for things like the cost of road tax or insurance. Transport is one of life’s necessities and in working life, not having adequate transport can be serious stumbling block.

Invest in Quality Tools or Equipment

Without the right tools or equipment, it can be difficult or even impossible to do a job correctly. Using a personal loan in the Philippines to buy tools or equipment for work is one of the most sensible ways you can use finance. Upgrading a laptop or other equipment you may use in your working life means that you can perform to the best of your abilities, which means you have the potential to earn more. Investing in equipment for work is definitely not a frivolous expense and will be seen as a suitable use of the funds by practically every lender in the Philippines. In many ways, providing that you are generating an income, any equipment that you buy using a personal loan will eventually pay for itself. Unlike a holiday or a large-scale party, this kind of purchase won’t leave you feeling as if you have paid out for something that can only be used once.

Continue Your Education

Education is critical to success in business and working life in general. Though you don’t necessarily need to go to university or college to achieve your potential, consistently learning new skills will help you to develop your earning potential significantly. Personal loans for education are commonplace in the Philippines and most lenders will consider this a great use of the funds you borrow. Life moves very fast and at times, it can be beneficial to take advantage of the opportunity to borrow money, rather than trying to save up over a longer period of time. This can feel like a risk to some people but paying for a good quality course from a reputable training provider or education institution should be seen as an investment in yourself. Though you may not see the benefits immediately, qualifications and accreditations are something that will help you to progress through your career far more easily than experience alone.

Expand Your Existing Premises

If you run a small or medium sized business and are hoping to expand, using personal finance can be an excellent way to do this. Moving from a smaller office can be a large-scale operation and one of the biggest stumbling blocks for companies can be the cost. Rather than trying to work in an unsuitable space, it makes sense to consider using a low-cost personal loan from one of the many reputable lenders who are based in the Philippines. Providing you have done your research and are confident that you can afford to pay back what you have borrowed, a short to medium term personal loan can be a way of finding the funds you need to expand your existing work premises or move to a totally new office.

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