How to grow your money

If you’ve been working for too long as an employee, you will always come to a point where you feel tired from working a 9-5 and just wish that you would just have enough money to stop and really start living your life. But of course, you don’t and you can’t stop because of the bills, household expenses, rent and car and so on and so forth. Achieving financial freedom is a long process but it’s doable as proven by those who started from bottom to top. Here are some of the few things we got from them as good starting points to get there.

Learn a new skill and make an income out of it

Your 9-5 job won’t make you rich. It’s based on a fixed salary and increases are limited to a standard merit increase by the company or if you get promoted. It can be very promising but it totally takes time but what you can do to make use of your time wisely while working your 9-5 job is to learn a new skill that you will enjoy and eventually earn money from. There are a lot of online jobs right now that only require a few hours. Some of the options you can choose from are writing, social media management, book keeping, editing and a lot more.

Sell whatever you can sell

Since the pandemic, people are not going out the way they usually do. Everything is online, food, groceries, shopping. If you have extra time, you can find things in the internet to resell or you can even sell your own stuff that you’re no longer using. Trust me, there is a lot of money potential here.

Save money

This is a must! Always save money! Think of it as paying yourself first so that you would have something in the future. Set aside 20% of your income and save it in the bank. Set a savings goal every year and do your best to achieve it. This is also important especially when you experience troubles at work. You must have at least 3-6 months worth of monthly expenses in savings before you quit your job.

Invest in stocks

Investing in stock market is always good. This is also one way of diversifying your portfolio and more importantly, you can learn how to beat inflation. If you’ve already learned how to do it the right away, you’ll get higher returns versus banks, insurance and other bonds.

Build your own business

Nothing is worth more fulfilling and income-generating than to have your own business. It always start from something you like and enjoy so it wouldn’t feel like really working at all. It can be an online shop, mini grocery store, laundry shop, car wash, restaurant, etc. Many small business have thrived through the pandemic, you can read about them and you will learn a lot from their journey.

These are just some of the things you can do to grow your money. Give it a thought. Research more on people who did this and became successful. For sure, you’ll be more inspired. There is nothing impossible so as long as you do the work!

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