5 Ways You Can Learn New Skills To Recession-Proof Yourself Today

The recent Covid-19 pandemic has caused the economic environment to become bleak. And when the economy slows, the odds of finding a new job can be increasingly difficult. This is especially for graduates who are fresh out of their tertiary education and Professionals, Managers, Executives and Technicians (PMETs) who were laid off. Indeed, if you do not have recession-proof skills, your days will only get harder.

But luckily, there are good resources out there for you to learn new skills to keep yourself recession-proof. Here are five such ways that we think can help you become recession-proof today.

1. Skillsfuture Credit To Pick Up New Skills In Hot Industries

In Chinese, there is a saying, “You learn as you age”. Even centuries ago, our ancestors knew that, if you stop learning, you will stagnate and be eliminated by the society. That’s why the government launched the Skillsfuture programme in 2015 to help Singaporeans pick up new skills to make us recession-proof.

On the Skillsfuture platform, you can find thousands of courses on some of the latest technologies that are changing our economy. These courses range from advanced manufacturing to digital media to cyber security and data analytics. By picking up these skills, you are giving yourself the chance to be employed in one of the hottest industries that is on a hiring spree to get every talent they can find.

2. Learn New Skills From YouTube

If you want to learn a skill for free and without ever leaving your home, YouTube is the perfect platform to do that. The amazing thing with YouTube is that it has almost everything under the sun that you can learn about. From dancing to workouts to cooking to stock investing, whatever skill you are looking for, there are guiding videos that will teach you to master it.

Personally, we find that YouTube is a good source to learn how to invest in the stock market. Be it whether you are a beginner or expert, there is a genre of investing video that will suit your needs. It can be the first step towards financial freedom for you so that you don’t have to rely on your day job to pay your bills.

3. Master New Skills With Massive Open Online Courses (MOOCs) Like Udemy, Coursera, EdX

Besides YouTube, Massive Open Online Courses (MOOCs) are also a good avenue for you to learn new skills. Unlike YouTube, these MOOCs are taught by professors and industry experts who have years of experience under their belt. For example, with EdX, you have access to lectures and lesson materials from some of the top universities in the world like Harvard, Stanford and MIT. You can learn about anything from economics to medicine to philosophy. You can even embark on your journey towards a Master’s degree through their online Masters program.

4. Learn New Skills From Reading – NLB Ebook App (Libby)

One of the best ways to learn new skills is to learn them from an expert. While not everyone has the chance to be in close contact with an expert, it doesn’t mean that you don’t have the opportunity to learn from one. For those of you who want to learn from an expert, all you need to do is to pick up a book written by the expert. In his/her book, the expert would have documented down his/her experience and thought process. This allows you to pick the brains of the expert to learn vital skills that will help keep you recession-proof.

A reading tool that you should definitely leverage on is the National Library Board eBook app called Libby. It comes with a huge library of eBooks that you can borrow from. Just imagine having a virtual library at your fingertips. With Libby, you don’t have to spend time travelling to and from the library, especially during this Covid-19 period. Oh, and the best part? It’s free.

5. Pick Up The Right Personal Finance Skills As A Financial Advisor

If there is one skill you need to learn in life, it is the skill to manage personal finance. That’s because those who don’t have the right personal finance skills will usually spend their entire lives slaving for money, trapped in debt and end up in a never-ending rat race. Interestingly, despite the importance of personal finance skills in our lives, our education system doesn’t seem interested in teaching us that.

The smartest way to pick up the right personal finance skills is to become a financial advisor. As a financial advisor, you learn to help others manage their money. Over time, you will be able to develop the critical personal finance skills that will help you succeed in your life. With good mentors in the industry to guide you, you can shorten the learning curve. Once you have mastered the art of personal finance, clients will be queuing to seek your services, be it whether it is during an economic boom or a recession.

Read also 4 Cheap Ways to Learn New Languages

If you are keen to pursue a career as a financial advisor, we have an opportunity for you at Moneyline.sg. All you need to do is to indicate your interest for the opportunity here. Once accepted, you will be receiving a once-in-a-lifetime opportunity to become a financial advisor and be mentored by our team team of experienced financial advisors.