Are you wondering how you can earn more money? Here are a few tips on growing your money exponentially…
While all of us think that there is nothing special to know about money-making, what we need to realize is that money-making is no less than an art. There are many aspects to it.
In this article, I will be talking about how to make *more* money in very simple terms.
- What are some of the classes I should take?
- Which course should I opt for?
- Should I even attend college?
- Which position should I apply for?
- What all do I incorporate in my resume?
- What are some simple ways to make more money?
These are just some common questions I have either face myself or have heard from others.
Odds are, so have you.
In short, these are the FAQs of our lives!
Finally, Bachat will answer them!
Why to discuss about making more money?
First things first, why are we even discussing making more money?
“You should not chase money”, is what some people equip.
Honestly, I agree. Making money just for the sake of making money is a total waste of time.
Then what am I suggesting?
Saving and investing are the only two habits you’ll need throughout your financial life.
It’s like saving and investing a day keeps the debt away!
However, because of the lack of financial knowledge, some people still just live paycheck to paycheck. They live on a monthly basis.
They will spend lavishly on 4-course meals during the first week of the month and then end up eating Maggi and Kurkure during the last week of the month.
Hence, people like these really need to work on saving money.
And if you are one of these people, don’t worry, it’s never too late. Start saving NOW.
Okay, so this was about saving.
But what if your salary gets all exhausted and you just can’t get yourself to save another rupee?
Well, then the answer is simple: make more.
How do you Make Money to earn more money?
Firstly, let me clarify my personal ‘money-making’ philosophy.
I do not believe in ‘get-rich-quick’ schemes.
My philosophy is: if you wish to make some really good money, do something which the others aren’t.
Do something for which people are willing to pay.
Discover something individuals are happy to pay for and deliver it to them.
Once you start doing that, you can increase the amount you earn by increasing the number of people you serve.
So, basically, the more you want, the more you will have to give.
But here’s the catch (obvs, everything was going too good to be true): the more people you serve, the more pressure there will be.
Remember that before you pick an approach to get more cash-flow.
Two Ways to Make Money
The further article is divided into two categories: salaried work and non-salaried work.
Because these two categories pretty much cover all the money-making mechanisms.
.S. There is also an option for making money from investing in stocks, but that has not been discussed here.
This is the most common option chosen by people.
You work for someone and give value; they pay you for the work done.
In this category, the amount you will get is mostly fixed and predictable. This is because productivity is hard to measure. Hence, the employer usually fixes the amount he/she will pay to the employee.
You can consider this category to be a mediocre plan where things are ordinary, mundane, clear and unsurprising. It has a predictable course of action.
For example, if you have an ordinary job and earn a typically fixed salary, you know that there is no single event that can make you rich suddenly. It will take long periods of saving and investing before you can enjoy a lavish lifestyle.
However, you must remember that in this approach, you are only serving a single person. So, lesser pressure.
Earn More Money From Non-salaried Work
This way of making money is far less common than salaried work.
People call it ‘side-hustle’ when they have a job. People call it ‘entrepreneurship’ when they don’t.
Here, it is harder to predict the amount you will end up making each month. If at all you will be making anything.
You can consider this work to be an extreme plan where things are unstable, highly accidental and unpredictable. These characteristics can prove to be positive or negative.
For example, if you invest your entire savings on Bitcoin, you either stand a chance to lose everything or become extremely wealthy instantly.
Well, then which approach should one follow?
I advise keeping your foot in both the boats. Put the greater weight of your earnings (around 80-90%) in salaried work initially and around 10% in non-salaried work.
Now you’ll ask why to bother investing in non-salaried work at all.
Because most of life’s turning points and earning opportunities come through extreme plans. By definition, you can’t design them.
Consider this: Kellogg’s cornflakes were invented accidentally.
Your favorite potato chips were invented accidentally.
Therefore, some accidental inventions can turn out to be pleasant!
But before you get all excited, I would like to mention again that I am not prescribing betting everything on an extreme non-salaried sort of work plan. An extreme plan can be amazingly positive or very negative. Truly, you could win enormous. In any case, you could likewise lose everything. Keep in mind that.
I hope now you know all the money-making mechanisms.
Every approach has its own pros and cons.
While some like to stick to salaried work, some like to go out and explore non-salaried work: be their own boss.
But, keep in mind that when you pursue non-salaried work, you are serving multiple people. The greater number of people you serve, the greater the amount of pressure you will have to handle.
So today, we basically learned:
- Why we are looking towards making more money.
- How to make more money (by serving others).
- Two broad categories of making money: salaried and non-salaried work.
I hope you make more and more money, invest more and more money and invest more and more money.
Make wiser decisions, decide which category (salaried or non-salaried) you want to pursue and then put your heart to it.
Of course, you can pursue a combination of both of these, but that requires a greater level of patience and perseverance level.
Hope this helped!