What is the 4 Best Ways To Make Your Money Work For You?
What is better than when you are making money but is not you that doing the job? Many would say there is no free lunch in life, but I would say, maybe sometimes we do get some free meals.
We always say time is the money but is our money = time? Have you ever thought of this, we can make money that we lost, but we can’t make time when it’s gone?
Time is valuable but money is not time. Instead of looking for the best way to make your money work for you, we also search ways to make people work for us, to save time, and we can take the time we have, to learn and to search how else money can work harder for us.
1. Hire people to do the time-consuming job for you
What is the priority? If having time to learn about what is passive income is important for you, we prioritize what is most important goals.
For instance, having passive income is more important than meeting friends to have drinks together, or sending kids to activities and wait for the class to end. Instead of spending your time doing nothing, why not get your wife or husband to help to do that for you so that you have your time for a long term goal.
Another example, if you are a business owner, most of the time you would have to do all the management jobs by yourself. Why not considering hiring someone’s experiences to do your job for you? And you will have time to look for investment opportunities for personal goals.
If you are working adults, weekends might be the only time you have to pursue your passive income goals. Same time you have to do your laundry, your housework, do consider hire cleaner to do it for you, to regain 2-3 hours for making money.
2. Decide what activity can benefit us financially
What kind of activities or errands can benefit us? In terms of bringing us a step closer to our making passive income goals. Says, working out from home and working out at the gym which is more time-consuming?
Reading a fiction book or reading a how-to handle personal finance book is bringing more knowledge to your early retirement journey?
Watching bad news regarding the entire world, the climate change news, crimes, politics or watching Bloomberg, market updates, about the economy is more worthy of your time?
Everything we do, the time we spend a can bring us to opportunities to know more and be more knowledgeable about making money.
Sometimes we only need an extra hour to do market research. What is the market demand, what is the new technology, what company is that, is the company listed? How profitable are they? What is the inflation rate up to this date?
Are the savings we place at able to make our money appreciate or depreciate? What is inflation? There are tons of knowledge we lack, to help us financially a success, it’s not that we are bad in numbers, it is not that we have no interest, most of the time is the unknown things that fear us.
3. Stock dividend – a proven method
Leveraging other people’s profitable companies, to make our money work hard for us. Trust me this is the lazy way to make your money work very hard for you. I have mentioned almost in all my posts, learning investment in the stock market is not scary at all. It is not safe only when we have no idea what kind of company stocks that we are buying.
Do you feel safe if you own the Mcdonald’s stock? How about Starbucks? No right? Because no matter how is the economy is doing, how many times we change the president, how bad is climate change, we still will eat Mcdonald’s, and drink Starbucks. We don’t stop going there.
Yes? So does anyone mind owning a little of Mcdonald’s shares, seeing other people buying Mcdonald’s food, in the company that you own a little share, end of the year, Mcdonald’s still pays you some dividend when they make money annually.
4. Be the middle commission person
What does that mean? Let say you are a freelancer, or a part-timer, even if you are a full-timer, you can get some freelance online jobs.
Even if you cannot write, you cannot draw/design, you know nothing. What you can do, is to outsource the job you get, to people who are talented to do the job you acquire.
Easy, for instance, you get a writing job, then you find a writer to write that for you. Make sure the money you pay to the writer is lesser than the money you get from the one who gives you the job.
What you are making is both payment differences. Let say, you are making $100 per article, you hire someone good that only asking for $80, then you make the $20 balance. What you gain, is the time = money, and the commission = money. At the same time, you can still keep your other jobs, and make the same routine income.
What is the big deal now?
Anything is possible if you start looking for ways, asking questions. People who know will share it with you. As I said just now, what is the scariest thing? It is unknown. What is the 2nd scariest thing? Let’s make the unfamiliar, familiar.
Till then, we will be fine and got used to what we used to fear. I hope you learn something amazing today, start prioritizing what is good for your future and spend time and money wisely. Please leave me some comments on what you think, I’ll be more than grateful to reply!