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5 unique methods to make money! 

The game of money changes every year and it is hard to stick around with the hot and happening means of earning. Yet, there is a big benefit in here allowing better and easier means of income/earnings.

 

The start!

It takes time and effort to understand the game of money and catch up to it. Let’s start with the theory through the books, which were written after the strategies proved worthy enough to make money.

Money Master the Game

I Will Teach You to Be Rich

Think and Grow Rich

One Up on Wall Street

Beating the Street

Rich Dad Poor Dad

 

Financial advice

Schooling and degree have a crucial role in helping shape our careers. Yet there is a lack of knowledge of money over management, educating students about money building habits.

We are compelled to learn it the hard way from our experiences post-college, degree or at a level in life. So, start early to start small, learning things gradually will engrain money management subconsciously.

 

Important lessons

Understanding money is mastering psychology, truly!

Understanding and studying money have nothing to do with being rich and famous. The minute you understand the root play of money is psychology, you’re already in the game.

  • Stock markets trade on sentiment. Traders, trade and buy assets and sell them too. You’ll be terrible with money if you don’t understand your own psychology.
  • Understanding your relationship with money, how much you need? How much you waste on unnecessary things? As it can make it a lot easier for you to fit a solution in place. For instance, a person is aware that if he or she, is a spendthrift and can misuse the money by all means. It is best to invest in long term returns thereby allowing your income to double!
  • It all boils down to your decision-making ability!
  • No to short term results
  • The short-term results are often and are entirely driven by temptation, the shiny object syndrome. Master your mind to strategize money/income/ investments/ savings/ funds/properties.

 

Stagnant money is not good!

You can give all your money away and use it for good

  • Money is pointless if it’s not put towards something good.
  • The people who have the most money — like Warren Buffett and Bill Gates — give it all away and use it for good. They understand that leaving money to their family is a burden if they weren’t the ones who earnt it.
  • Give your money away. Help those who are in dire situations. Objects bought with money don’t make you feel good: people do.
  • You will be tempted by bad investments, again, this a temporary strategy to bring down your overall profits.

 

Social Media is utter crap!

The news and Youtube give terrible financial advice.

  • It doesn’t matter how smart you are. You will make bad investment decisions. Nobody wants to invest in a stock that will have low returns or run down south.
  • The facts, when it comes to investing, are easily distorted and unrelated to investment returns.
  • Start early by giving a portion of your money away, therefore, telling your mind that you have enough and you are enough. Take stock of the situation in case of an emergency. Make sure you have a proactive plan before the emergency sets in.
  • The media industry gives terrible financial advice. They chase headlines that lead to views, not information that will help you make money.

 

Money can devalue

This is a huge lesson: money can be printed out of thin air. Inflation can eat away at your savings. Look at the value of the USD over the last few decades on Google. You’ll be somewhat surprised.

You protect against money devaluing by investing in assets that retain their value over time: gold, stocks, property.

Be fearful when others are greedy and greedy when others are fearful

This one is a quote from Warren Buffett.

  • Right now, everybody is being greedy and we’re at the end of a very long bull market. It’s nothing to be scared of. Don’t sell up everything. Just understand that investing money is based on cycles.
  • If everything is going up and the value is not there, be slightly more fearful and adjust the way you invest accordingly. Here’s how it works in simple terms:
  • When the market is going up like mad, sit in cash or liquid assets that can be easily sold if required.
  • When the market goes down by 30% or 40% and fear is everywhere, it’s time to get a discount. You deserve it.

 

The more we use the better the returns

When you have money there are two options: invest or save.

Investing is putting your money to work. Put your money to work in the following ways:

  • Invest in yourself by learning new skills that generate money
  • Invest in businesses through a stock market index fund
  • Invest in books about finance so you understand money
  • Invest in humanity by giving a little to worthy causes

 

Let alone ego, it can shatter you!

There are a lot of douche bags with money. Money can cause your ego to blow up and make you think everything you touch turns to gold. I was that dude in my 20s so that’s how I know. Watch your ego as you make money. Here’s how to audit your ego:

  • Do you think too highly of yourself?
  • Do you talk down to people because of your money?
  • Is your confidence slightly too high?
  • Do you preach or teach?
  • Do you use the money to buy material possessions that prove you have money?

An out of control ego is the default outcome of having money. If you do nothing, your ego will get big and that won’t be good for you.

How you treat others is how people treat you.

You’ll feel better about life when you attract good people into your life, not repel them with your money and end up a lonely old man/woman.

 

Money can be lost

  • Money is a fantastic teacher. You learn the best lessons when you lose money like I did when $40,000 went up in smoke thanks to a car.
  • You can make a million-dollars, but you can also lose it too. And faster than you think.

 

You can make money from your art

We are told that writers can’t make money from their art.

  • When I joined the blogging world in 2014, everybody told me it was a noisy corner of the internet and the money I’d get from ads (the main source of income at the time) scattered through my writing wouldn’t even be enough to buy one latte a day.
  • I didn’t listen and proved them wrong by making more than $300K from writing.
  • I don’t tell you that to be a smart ass. I tell you because when you put your heart and soul into an art form and commit for long enough (five years is a good amount of time), you can do anything.
  • The way you make money online doesn’t matter and it’s forever changing. When you release enough work online and commit for long enough, opportunities to make money will find their way to your inbox and surprise you. You can make money from your art.

 

You can make money while you sleep

It sounds like a fantasy. It’s not.

Set up systems and you can make money while you sleep. A business is a system; a blog is a system; a social media channel, like LinkedIn, is a system; an investment in the stock market is a system. Systems make you income and automate money creation.

 

You can never have enough money

  • The ultimate lie, when it comes to money, is that you’ll one day have enough — you won’t.
  • No amount of money is ever enough until you make one decision: you decide you are enough.
  • When you are enough, your desire to have more money and endlessly work for money disappears.
  • Money is a reflection of value and when you value yourself, your view about money changes. That’s the biggest lesson learning about money has taught me. Money is just an extension of yourself.

 

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