This is a short post about how to make more money. But, before we dive into it, I want to actually give you some money –– real money that can grow for you over time. Here is a free share of stock with your name on it. By signing up for Robinhood, a free stock trading app, both you and I will receive a free share of stock… which is pretty cool.
How is that for a Medium post? You opened it up and already made some more money.
Now… how’s that saying go? Something about… give a man (or woman) a fish and they eat for a day, teach them how to fish and they eat for a lifetime?
Yes, well this post sort of combines the two. Here is a fish. Now, let me teach you how to fish for yourself moving forward.
The truth is –– all of us know what money is. But, very few of us understand how to make more of it. Financial gurus will tell you to save and budget and not have any fun. It’s the cliche advice when it comes to personal finance –– save more don’t make more.
But, while I don’t think you should be running around like the Wolf of Wall Street blowing millions on Yachts, Lambos and Mansions… I do think you can live comfortably without being a frugal little bean counter.
Don’t count beans, just earn more beans.
So, the question becomes… how do you earn more beans? Well, while most of us know what money is, very few of us fully understand how money is earned.
In college, we are taught that you graduate, get a job, work the job and at the end of every two weeks, a check magically appears in your bank account. We are taught to believe that money is earned through time –– if you spend 40 hours a week working for Fred, Fred will pay you a salary.
While this is certainly a way to make money, it doesn’t necessarily teach us the truth about making more money.
Which is that money, at its core, is simply points in exchange for value.
If you cut my grass I will give you 40 points.
If you handle my taxes I will give you 300 points.
If you build my website I will give you 3,000 points.
I believe entrepreneurs and freelancers have a leg up here in comparison to full-time employees. Why? Because they get to see first hand how a website or a blog or a [fill in the blank] they create is physically exchanged for points.
When you work full-time at a company you don’t fully understand this –– especially when you are first starting out. With that said upper management probably has a better idea of this value-point exchange than an entry-level employee.
Now, as of right now you probably are getting the vibe that I am hating on working for someone else versus working for yourself. This isn’t the case.
I think there are pros and cons to being an employee… and pros and cons to being a freelancer or entrepreneur.
Employees get tons of benefits and PTO. Entrepreneurs become extremely skilled at the art of making money.
With that said, I believe anyone (entrepreneur or not) can gain this skill I am talking about –– by starting a side-hustle –– or a small project that allows you to make money outside of your 9–5.
Here are 5 examples of side hustles you could start tomorrow:
1. Cut grass and do landscaping on the weekends.
2. Design awesome stickers and sell them for $3 a piece online.
3. Take a few online courses on interior design and help dentists decorate offices that don’t look God awful.
4. Learn how to build websites on Squarespace then start building websites for other people.
5. Design online landing pages for job seekers. Individuals looking for jobs will be able to send companies a link to a personalized web page highlighting all of their skills. It will be more convenient and more impressive than a resume.
Anyways, a side hustle can be anything –– anything at all. And finding the perfect side hustle simply comes down to the following question –– what am I good at that people would be willing to pay for?
Once you find the answer to this question, write a number down –– $1,000, $2,000, $3,000. It will be the number you want to make each month outside of your day job.
Let’s say the number is $1,000 a month. The question then becomes, how many lawns do I need to cut at $40 a piece to hit this number? 25 per month or roughly 6 each week. So… how many clients do you need? 6 –– assuming that they will want their lawn(s) cut each week. You then create some fliers and start knocking on doors.
That’s how you make more money –– you exchange value for points. And, once you make more points or money rather… don’t forget to invest it in Robinhood. That way the money you make can make more money.
By Cole Schafer.