Disappointed when you look at your paycheck? Does it make you wonder how you are ever going to get ahead and stop living paycheck to paycheck?
One way to make you paycheck last longer is to budget better. But budgeting can only take you so far.
The other thing you can do is make money doing something besides your regular 9-5 job. And if you think there is nothing you can do to make some extra money, think again. MSN Money recently went over 101 ways to make money without a 9-5 job.
Pretty sure you can find something to do to make extra money with 101 different options.
I think the absolute best way to make money is to start an online business. It fits in perfectly with my overall Financial Plan:
But don’t just make more money to spend more money. Put that money to work so it has the opportunity to lead to financial security.
I believe reaching a state of financial security is not just about one thing.
- It is not about just making more money.
- It is not about just investing more money.
The truth is, to reach a state of financial security, you are going to have to take action in each of these areas. They can work together synergistically to create the perfect wealth attainment environment.
But every journey must have a starting point. And income is the obvious starting point when looking to create wealth, financial freedom and economic stability.
So, if you feel you are not making enough money, you need to do something about it.
However, don’t just make more money so you can spend more money. At the end of the day, that is not going to get you anywhere.
But if you make more money because you have a PLAN to take that money and grow it into life changing wealth… you are going to be a lot better off.
I think of it this way:
I want to make as much money as possible because it makes budgeting easier.
The point of budgeting is not to figure out how and where I am going to spend all my money. The point is to live and spend in such a way as to have investment capital leftover.
I then invest this capital so I can have my money work for me while I sleep, just like the wealthy do. Creating a substantial investment income is what makes me feel financially free.
Once my income, budget and investments are working, I concentrate on saving. While I feel most of my money should go to investments, nothing makes me feel more financially secure than having a huge amount of accessible money at my disposal.
Imagine knowing you can live for 20 years without having any income whatsoever. Imagine how secure that would make you feel. (I’m not saying I would ever want to live just off my savings, but knowing I could if I had to would make me feel pretty secure).
So, when you think about increasing your income, think about more than just making more money so you can spend more. Putting that extra money to work for you in a systematic way is what could lead to the kind of financial security few enjoy.