Everyone wants more money.
Millions of people are going to Google and searching “how to make more money” or “I need more money.”
From the homeless man sleeping on the side of the street less than a mile from your home to the multi-millionaire that owns a majority of the commercial buildings around your town. They both want more money.
It doesn’t matter where you fall in the American class system of income. Lower, middle and upper class all want more money in order to accomplish their latest goals.
So, how can you get more money?
There’s really only two options in order to have more money. You can choose one over the other or combine the two to expedite the process, but there’s really only two.
- You can save more money
- You can make more money
Saving more money means creating a budget and looking for ways to trim the expenses in order to keep more of the income you’re bringing home.
Making more money means finding new or additional income streams in order to increase your income over expenses.
In either case, creating more money simply means increasing the gap between expenses and income. Simple.
Which one will you choose?
I decided to choose both in order to speed up my investment potential. I found areas of my expenses to trim and then created additional income streams.
First, I created a budget to see where my money was going. I found that a majority was going towards keeping up with my debt and eating out at restaurants. It was rather embarrassing to see how much went towards these two things.
I cut out my restaurant expenses and trimmed my grocery budget and then applied this extra money towards paying off my debt. I also went around my house and sold everything I didn’t need anymore.
Nine months later: $16,000 in credit card debt was gone.
Now, I’m able to apply the money I was spending on credit cards every month to savings and investments.
I continue to research and create new income streams because every self-made millionaire has multiple streams of income. Creating businesses that continue to make money without me is the goal. I am far away from this but I understand it is necessary to continue this growth.
Selling items on Ebay and Craigslist became my side hustle and helped me pay off my debt much faster.
Find your side hustle and see how much additional income you can create on the side. I think you’ll be very surprised after seeing your potential.
Let me know about your side hustle and what your goals are with your money.