Why Extra Income?

Why Extra Income?

If you’re working for somebody, you’re trading time for money. Migrant workers almost gotta trade time for money. Spend the year contract working for their employer and only then can they earn for their own income, salary. One way income.

The question becomes, how much is our time being spent? 5SgD / 3 Sgd or even 2Sgd  per hr of how many hours a day? Fortunate workers get a good employer and get a fair payment per hour of work a day. Some were hopeless, got soaked with work and less payment per the required hour in a day. So …

Obviously it’s one of the most important things in our life to maximize the rate so as to hit the freedom numbers. Managing our income…

Because it enables us to decide how we want to live our life, instead of obeying the social norms that we “should” follow and do.

Now, how are you going to get more than what you earn?

The likely answer is, you’re not able to get what you want….UNLESS you start to play a completely different game. What kinda game?

There’s a reason why wealthy people don’t trade their time for money. It’s not because they’re lazy. But because they understand the value of their time.

Therefore, if you start doing what the wealthy people have been doing, you can win too.

Here are 3 steps that can help you to achieve:

(1) Change your mindset.

Know how much you want your time really worth and start playing completely different games too.

We’re told to get to school from a young age, take the traditional education system, and were injected tons of outdated info.

Don’t get me wrong. I’m not saying we should burn all the schools and eliminate all the teachers. There are contributions from schools…but just not in the financial world.

Schools make workers, not wealthy individuals. They never teach us how to really make money in life.

So it’ll be a game-changer if you start to know the how.

Instead of sharing your knowledge every time when there are new customers making requests, create a training material and build an automatic business system that do the work for you.

(2) Invest yourself to learn and grow

Warren Buffett said “The best investment you can make, is an investment in yourself. The more you learn, the more you’ll earn.”

Saving money will not get yourself rich, creating more income streams will. And the best way to achieve such a level is to start learning and grow your mind.

Instead of working for a job, you work on yourself to know how to create multiple income streams.

It’s like Jim Rohn said, “If you work on your job, you’ll make a living. If you work on yourself, you’ll make a fortune.”

Therefore carve out a portion of income that’s dedicated to your growth. Equip yourself with a variety of knowledge and skill sets.

Instead of risking your hard-working income and invest in some property that you’re not familiar with or stocks that might plunge anytime when economic or virus strikes, that’s a wiser way for you to use money to make money, which leads to the third step.

(3) Build a scalable asset

You need an income-producing asset. An asset that can be scaled up and continue to pay you.

There are plenty of opportunities, here are couple of business that works well nowadays:

MLM marketing. Play but it requires a second thought.

Affiliate marketing.

E-commerce.

Subscription-based service.

Freelancing.

Online courses.

I personally love affiliate marketing because even beginners can start making progress in the first month and begin to generate another income stream the next couple of months If they’re willing to put into work.

So take a few seconds to ask yourself…

Why stay at the current long working hours job when you can earn so much more with the same effort you’ve been dedicating to the work?

Start playing completely different games and live the lifestyle you really want at your own pace.

Choose the path, live with no regrets.♦♦

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