Usually when someone wants to boost their income – they adjust their spending habits and cut expenses.
However, long term this isn’t the best strategy – for obvious reasons. Your quality of life declines and saving $50 a week won’t get you far either. If you pop yourself into the NZ Statistics for household spending you’ll see that NZ’ers are spending 40% more on goods and services than they were 20 years ago – why?
Because they can.
Interest free, no payments for 18 months, buy one get second ½ price. Blah Blah. It’s too easy. But for the love of the sweet lord you know that Interest Free, is not at all Interest Free – it’s full of interest as it’s built into the price of the product. After 18 months, that beautiful new couch doesn’t look all that beautiful when that first payment is deducted.
Billionaire Investor Warren Buffet says; Most middle class income earners make the mistake of trying to keep up with their richer friends.
– They spend more than they make.
– They don’t save 10%
– They don’t invest early.
– They take financial advice from their broke friends.
– They are too pessimistic and negative when it comes to business ideas. They dismiss an idea, or project or opportunity too early because they ‘think’ they know better. They end up never moving ahead with anything for one simple reason – a fear at what their friends would think of them!
Stephen Covey said: You are not a product of your Circumstances. You are a product of your Decisions. A wise person makes their own decisions – an ignorant person follows public opinion. Do your own homework and be consistent with your choices. Wealth doesn’t come in the first year.
Top 10 ways to make money – stolen honestly from Forbes.com
- Change jobs. Most people are nervous about changing as it steps them outside their comfort zone. Don’t be afraid to put yourself out there.
- Take on more responsibility at work and in 12 months time, request a raise. Turtle like process but useful. If your boss sees you applying effort, taking on different roles, encouraging and positive, you will get rewarded eventually. If not, see No.1.
- If you have a unique skill set. Freelance your time in the evening. Many IT employees, developers, writers, editors use their skills outside of work and market themselves online through freelancer.com sites and upwork.com sites. Challenging and competitive environment but occasional work comes of it.
- Invest in doing up your garage or spare room and rent it on VRBO or AirBNB.
- Sell old things on TradeMe. Electronics. Clothing. Kids clothes. Short term money but good also for de-cluttering.
- Go sign up to an Ad agency – these days, any look works in print and on TV. You may just surprise yourself.
- Start a home business using a business system in the direct to consumer or NM industry. 80% of females who earn $100,000 per annum in the USA do it through this channel. It’s by far the best system I’ve seen work for people wishing to get ahead. Do your homework and ask the experts what to look for before investing your time and money.
- Spend time trolling overseas websites to see what ideas would work well in NZ. There are so may unique ideas overseas that would work so well down here. I was in Park City where I saw Deer Antlers being sold as Dog Chews. I contacted Deer Farmers in the South Island. Most pay people to come get them, take them away and burn them. He said if I came and got them I could have them for free – not good use of my time but it’s an idea.
- Become an Escort.
- Look at the your equity in your home and see if you can manage to invest in a property. Get the right advice and do the math.
- Bonus Tip: Save 10% of your income every week and don’t ever touch it until you retire. My income varies from week to week because I own a home business but I roughly save 20% to 25% of my income, it goes into a separate bank (not separate ‘bank account’ where I can see it but a completely ‘separate bank’) I requested no statements and no eftpos cards. I couldn’t tell you how much is in there. I just hope I remember where to find it one day. Worthwhile doing.
If you want more ideas – let me know. But work hard, stay integral, be ethical, kind, and help others!
See you at the top. [email protected]