How To Get Rich And Make More Money
Everyone wants to get rich and make more money…right? It’s most people’s dream to be able to buy a nice car, live comfortably in a big house, travel… take care of their families.
The opportunities to do this in this day in time are incredible. The amount of information available at our fingertips is immense. I have plenty of this kind of information on this site alone. Throughout the internet there is plenty of this kind of information now. But there are important details that most of these people selling this idea don’t tell you.
I’m going to share those with you, and much more about how to get rich and make more money.
You must become more disciplined first and foremost. This is the cornerstone of becoming wealthier. Doing something well, and consistently even when you’re not feeling very motivated. Feelings are fleeting, and there are times where you won’t feel compelled to stick to your script.
Repetition and consistency will eliminate the need for feelings. You’ll just do what you have to do.
Two vital components to discipline in the modern era are:
- Not wasting time on social media > How To Do It
- Getting plenty of good sleep > How To Get Amazing Sleep
Read through the entire Health and Wellness section here > Health and Wellness
Health and a clear state of mind are of the utmost importance. You’ll need to be sharp and have the ability to concentrate to accomplish this. Now on to the good stuff.
Financial discipline is a must. Delayed gratification is also a major key on how to get rich. More money withheld from frivolous purchases is more money for other uses such as investing. ( I touch on that here : 3 Simple Ways To Make Money To Invest).
The best way to not spend frivolously is to eliminate weed and liquor. Why? Because the way you’re using weed likely isn’t helping you, and liquor is definitely not helping you. So you’ll save money that way.
Budgeting is important. Re-allocate weed and liquor money to savings or investing.
Cut back on processed foods. Processed foods are empty calories most of the time, that cost more money long term. Replace that box of cookies with a jar of almond butter and wasa flat crackers. Instead of buying instant oatmeal packets, buy big container of raw oats and use fresh fruit.
This will lead to extra money to invest as you see fit.
Active income is money you work for. Your job salary, wage, a small business that requires work and maintenance. These are streams of income but are limited because they require labor. To learn how to start an online business in any field, or skill set… go here > Why You Need To Start An Online Business.
There will be a limit to what you can do in this regard. 1 or 2 active income streams, maybe 1 or 2 more if you can hire more people to help. But there is a limit.
If your active income is plumbing for a company, then plumbing on the side, there is only so much you can physically do. You can start an online business in addition to that though which would be how to get rich or at least make more money.
Freelance work through sites like upwork.com allow you to build or showcase your work portfolio and charge what you’re worth.
Passive income is a different animal. This is money you can make in your sleep with little or no maintenance needed. This can be stock investments, an online business, Bitcoin trading, and much more.
Dividend investing is one passive income stream that I personally to make more money. Learn more here: 5 Reasons Why You Should Invest In Dividend Stocks.
Trading options is a little more intensive, where research and forethought is required, but you can just monitor the contracts periodically and track your p/l. To learn about options trading: How To Make Incredible Money With Stock Options.
Start an online business E-Commerce Business Tycoon
On my other website, Astrochologist.com, I sell apparel in addition to readings and e-books. It’s never been easier to sell apparel.
If you’re creative and want to exclusively sell apparel, you can create the website, connect a drop shipping source so you never have to keep inventory, do product shoots yourself, and have your own branded product photos using an aesthetic that speaks to your target customers.
The Printful is by far the best drop shipping company. I’ve used them for 5 years and they consistently improve their services and products. They offer plugins and connections for Woocommerce, Shopify, Magento, and all the major e-commerce platforms. Also, they offer videos and tutorials on selling apparel, staging, photography, and more. Sign up for them here : The Printful Apparel Drop shipping
You can also sell courses, e-books, videos. You can sell documentaries, movies, from your own website. Earning 24-7 while you’re sleeping.
Mixing And Matching Multiple Income Streams
So you have the active, and passive incomes. How do you combine the two to get rich and make more money? One major key is balancing the active and not spending so much time working on unscalable tasks that you don’t build up your passive income streams adequately.
For example, setting up an e-commerce website to sell your own line of apparel requires front loaded labor. Meaning it will require a lot of “free” labor at the beginning like you’re prepping soil and planting a seed. The fruit will come later. So don’t take on so much active work that you’re never able to do the work required to build passive income.
Me personally, I like to keep 2 active income streams. If you’re lucky, you can do two jobs at once. For example, I know someone who works a very solitary job. And while she’s working that job 1, there’s a lot of downtime. She also works remotely on her laptop for another company while she’s at job 1. Compounded labor.
For passive income streams. You can add even more. As many as you think can be maintained at high quality.
Let’s look at some hypothetical numbers
Active Income 1 (Main Salary) = $40k
Active Income 2 (Additional work) = $9k
Passive income 1 (Tutorial courses) = $12k
Passive Income 2 (Stock Dividend Payouts on $25k) = $2k
Passive Income 3 (Audiobooks) = $16k
Hosting costs = $112
Video production = $200
Audio recording and editing = $300
The beautiful thing about this is you become an authority in your field, and this will bring more attention, and more money. You might get a spot on a big radio show or talk show or podcast. Bringing you more traffic, more passive income.
You can then build on these income streams. New products, new information to sell to your existing customers, which they will buy (given that what you’re selling is good in quality).
How To Get Rich
Combine this system of multiple income streams and set goals tangible benchmarks. If you’re not making a high enough salary? Expand your skill set. Udemy has amazing courses for as low as $10. You can buy 9 or 10 courses for $100 on a number of subjects.
I read of someone, I think it was on Twitter, who took 3D animation courses from Udemy and got a high paying job with a TV studio by taking $20 courses from Udemy. So opportunities always abound.
Pursue education as a life rule. This can be through college, a mentor, internship, volunteering, Udemy, anything you can learn from.
Avoid Debt That Isn’t Leverage To Earn Income
In Should I Go To College? I talk about the scourge of college tuition debt and why I avoided student loan debt. Debt is bad unless it’s used for assets that bring in income. Many people are crushed by both student loans and credit card debt. As a result they don’t have the resources to invest and build wealth.
Do not fall for the trap of thinking a credit card is Free Money.
I fell into this trap in my early 20s. I had one card, got a credit line increase, and bought sneakers. Bad move. It actually took me 4 years to pay it down.
Let’s run down the major points.
- Discipline (Health, Time)
- Multiple income streams
- Dedication to learning
- Avoid bad debt
Follow these principles and you will be well on your way to getting rich.
Free Ways To Make More Money Now
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The process of getting rich is often a lifelong journey. We hear of incredible business people, inventors who reap the rewards of their work at a late age. So if you can get there quicker, younger, than ever before…it’s truly a blessing. We provide a blueprint that I and many others have used successfully and allow you to dodge many of the pitfalls.
Good luck, and to success.