Making more money is a simple concept, but that doesn't mean it is always easy to do.
In the hyper-competitive market we live in, to earn the bigger rewards monetarily, typically the effort, risk or investment of time and money is greater.
However, this doesn't mean you shouldn't focus and become better at making money for yourself & future!
Why you should focus your effort on making more money:
Chances are, you have heard of the Pareto Principle that states 80% of results will come from 20% of your effort. This couldn't be more true when it comes to making more money.
The simple premise when it comes to money is this:
- Spend what you need.
- Save your money.
- Figure out ways to make more money.
For many of us, we can figure out the means to accomplish the first two on the list above with a little reading and a little more self-discipline. By no means is changing your behavior (spending less, saving more) a simple task for some, it is something that most tend to focus the most energy and effort on!
However, the real key to most financial goals is simply making more money. And for whatever reason, most of us spend all our energy cutting expenses and being frugal (which has a floor) instead of focusing our efforts on making more money (which has no ceiling).
You should still live below your means, but we are going to go over ways to make money outside of your career and explore all the possible ways to make it happen!
Steps to Make More Money
Make $100 Fast
Make $500 Fast
Make $1,000 per Month
Step 1: Find the quick money.
When it comes to making more money, here is the best way to get started: Find all the quick money.
This means exactly what it means, there is money out there you can quickly get your hands on. Typically, the quickest and best way to do this is to:
- Ask for a raise (the right way)
- Do quick things online to create the habit of making more money
- Start a side hustle (Get my Side Hustle eBook here).
Are these long term ways to make more money? Yes and No. In step 2, we will talk about taking action, just getting started. There is a quote, “You don't have to be great to start, but to be great, you must start,” that sums up perfectly how making money works.
You have to start, try, fail, and adjust. Asking for a raise is one step, just looking into side hustles and part-time jobs is another.
Step 2: Take lots of action.
It took me three months and countless hours to land my first $20 affiliate check. However, that is not the story. The story is that after six months I was able to land a $1,000 per month digital marketing client.
I went from ZERO knowledge in using the internet to helping a friend with his companies website in six months. Simply because I took tons of action.
Enough about me, what does this mean for you?
Some of the best side hustles can help you make money quickly, but the BEST side hustles can help you grow something larger. Something you own perhaps.
Here is what you should first do:
- Use this list and identify a few side hustle ideas
- Create an interest inventory, things you like & enjoy
- Begin to brainstorm ways to monetize your hobby, interest, or idea
- Just take a little action. Just start, don't overwhelm yourself, simply do a little each day/week/month.
Step 3: Become an expert.
By taking action, you will inevitably become better.
You will gain more experience, create systems that work, and become more efficient. What took five hours will soon take one hour. All this to say that becoming an expert is a long and sometimes arduous process, but it is well worth it.
In my three-year digital nomad journey, I went from starting a blog on a whim to owning a digital marketing company and making $100's more writing articles for others. There are tax advantages to having your own LLC and to think this all started because I wrote a “Blog Post” on Facebook is sort of crazy.
While I can't predict this will happen for you, nor the exact timeline, what I can tell you is that action, not quitting, and continuing to improve will lead to something. Below are a few courses that might intrigue you, two of which helped me immensely!
Courses I Recommend Considering:
Stupid Simple SEO
Stupid Simple SEO is how I became an expert when it came to writing SEO (Search Engine Optimized) content for my blog, but for clients and freelance writing. This one course has helped me make $1,000+ a month.
This is a step by step Blogging 101 type course to take your new blog to the next level. Everything from monetizing your blog, ad placement, e-mail strategies and so on can be found here! Blogging made simple, especially if you're new!
Flea Market Flipper
If blogging, or writing, are not your thing, perhaps selling and flipping online is! Flea Market Flipper is an online course that teaches you how to find things, flip them, and sell them for profit online. It's an art you can learn and make money!
Step 4: Grow your net worth.
Making more money on your own can lead to flexibility, more time for yourself, and ultimately, growth in your net worth! There are real ways to make money from home, however, the long term goal is to grow your net worth.
The pursuit of a higher net worth isn't about status, it is about becoming debt free, saving more money, and learning how to create additional income to support a lifestyle you love.
Regardless of what we are taught to think, finding what we “Love to do,” isn't so easy. What we love to do is typically some form of social interaction, time with family, and the ability to do what we love.
However, student loan debt, financial woes, and long commute times prevent some of us from being able to accomplish or do the things we love and are passionate about!
That is why making money to grow our net worth (not status) is vital. It let's us live the life we love and enjoy. Instead of a one day camping trip, maybe you take a one week.
Instead of a three day trip to the beach, you go for three weeks. These are the things we truly covet. In life, we don't want millions, we want the experience millions can buy!
Also, if you're not tracking your net worth, I would recommend you start and use Personal Capital.
Warning: it is addictive in a good way 🙂
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