“We make our choices, then our choices make us.” – Anonymous
Think you are not financially where you should be?
There are no quick or easy roads.
You have 2 levers to pull from.
a) You can increase your income
b) Save more of your income
However, making more will not equate to a higher net worth, if you live above your means.
And you can only save so much – increasing your savings too much, can make life miserable.
So how do you make more?
You may say I love my job and don’t want to change it.
Well, you can start a side hustle. Figure out what you enjoy doing or have the skills to do.
- Start a cat coffee shop
- Fix up cars and sell them on craigslist
- Purchase a restaurant franchise with a few partners
- Develop digital marketing plans and videos for businesses
- Get your real estate license and become a realtor on the weekends
Many of these are full-time businesses, however they do not have to be. The internet has allowed many people to scale virtual side gigs.
Think these are impossible? We’ve worked with people with these side hustles. Why can’t you?
How to save more?
This can be a more painful route, however for some an easier path.
- Track all expenses. Use software like mint, right capital, or excel spreadsheet to track this information easily.
- See what you can cut – there is always something that can be cut. It may be the streaming services you do not use or subscription to a magazine you don’t read anymore
- Create a budget. There are many of doing this online. There are many ways of doing those online software tools.
- Rinse and repeat step 2 monthly.
This can be burdensome for some but the first two anyone can do. Being the end of the year, this may be a perfect time to start looking at building better habits. Set a goal to find a side hustle or stay consistent with tracking expenses this year.
Feel free to reach out with any thoughts on this article.