3 Great Methods for Making More Money
Now, before I go any further, I think it's advisable for me to make sure you don't make money itself your life focus.
Yes, money is important, but its place is to simply provide you that which is precious to you.
Remember, making more money isn't really what you seek...
You seek what enough money (which is different for everyone) can provide you:
- excerpt from "Cashflow Quadrant", by Robert Kiyosaki (p.12)
With that said, let's consider how you might go about making more money, since cutting back on spending can only get you so far... especially with inflation continuing to erode the purchasing power of the money you already earn.
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Your Online Empire
The way to increase income that is my personal favorite is building websites. This is an adventure you can get yourself involved with that is fun, personally gratifying, and financially gratifying.
In today's world of increasing traffic, stress, and over-all "busy-ness", wouldn't you love to add income to your life without having to leave work and then go to another job you hate?
Why not come home, relax a bit, and then grab a cup of coffee as you settle in front of your computer and build your home-based business? Better yet, move up to a laptop and you can take your business outside onto the patio... or the park... or the local coffee shop... or the beach... or wherever you love to be.
All I can say is that making more money this way has produced some of the happiest days of my life. It can be that way for you, too.
You don't have to be a great writer either. It's not about that at all. It's about your PASSION. What are you passionate about?
I could go on listing potential "passions" forever. The point is that you are passionate about something that you could build an online business around.
An online business that would achieve your goal of making more money while having fun in the process.
Isn't that what life should be about anyway... having fun no matter what you're doing? This whole 9 to 5 thing you've been brainwashed with since you went to pre-school doesn't need to continue!
Your Real Estate Empire
Another way you can go about increasing your income is through real estate investing.
There are actually many different strategies you can use with real estate investing. One way I've personally involved myself in real estate is to buy and hold a property for the long term.
You gain many benefits with this real estate strategy. You can accomplish your goal of making more money monthly by structuring your deal where you receive some cash flow from your renters above and beyond your mortgage payments.
You can save money on your tax bill because of the deductions and depreciation you can take.
You can eventually pull out some equity tax free to buy more property with or whatever else you may need.
An area of real estate investing I'm currently investigating is "flipping". You can buy a run-down property, fix it up, and sell it relatively quickly for a quicker profit.
Another area is tax liens. I haven't done this yet but have been studying Steven Waters' Professor Profits ideas and will eventually dive in myself.
There are many more ways for making more money through real estate investing. If this is an area that interests you, I recommend you investigate the many resources available for education: books, seminars, audio/video courses, etc.
Your Trading Empire
Stock or option trading can increase your income. I want to mention that this isn't something I recommend you just jump into.
I've dabbled in option trading online. Nothing really serious yet, but this is another area that I'm steadily gaining knowledge in and will continue to do so until I feel ready to go "big time" with it.
Again, there are various courses and lessons on this subject. Again, I want to stress, though, that this isn't something you do right away. Don't use your family's "food money" on this. Use money you can "afford to lose".
Stock and option trading should come after you've become successful at making more money through other means, such as when you have a monthly residual coming off your personal websites or real estate.
These are only three methods out of many that can help you in making more money. Find one or more that you will enjoy doing.
If it happens to be one of the ways I enjoy doing it, great! If not, I just hope I inspire you to move out of your comfort zone and into your success zone.
Remember, your life isn't going to change until you change!
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