Exactly one month ago I conducted a quick poll with you. Do you remember it – What is the main hurdle on your way to financial success?. If you have missed to vote, the poll is still open, please do it.
As I wrote at the time on posting it, I did not create the poll just for my pleasure. I wanted to understand what really is troubling you the most on your way to achieving your financial goals. On the second place are 33% of the readers who lose money because of bad investment decisions. We are already working hard on this together, don’t we? It’s a long process and I believe we’re all learning and doing better with the time. And don’t forget that making mistakes and losing money is not that bad.
The Big Problem
A bit surprising, but at the time of writing this post the leading issue is not earning enough – voted from 58% of this blog readers. So it seems like I am putting too much effort into finding investment deals which many can’t afford.
So here we go, this blogs need a little shift.
Let me reveal myself a little bit first, for the first time here. I did not pick the “low income” option in the poll myself, but my income is also never high enough (I just have even worse issues to deal with when it comes to finances). As I am not working on a salary for already more than five years, I have always been researching for ways to add supplemental income streams. Unlike most people though, I don’t get satisfied with researching and am actually trying everything which seems promising. So I’ve got a bit of experience.
Trust me, earning good additional income is not as easy as many online gurus want you to believe. But it’s pretty doable especially if you have patience.
So, What Ideas?
I wanted this blog post to be just a quick note, but see how it turned into a long introduction. Let’s get to work:
I am opening a new category here on the blog called Supplemental Income where I am going to post ideas and experience on bringing additional income.
If this is your main issue, let’s solve it.
Roughly, the ideas will gravity around the following lines:
- Making money doing some work. I don’t like this too much, but if you badly need it, it’s a less risky way to earn. I’ll share a lot of things about freelancing and consulting. Please use this as last resort. Trading your free time for money is not a good idea unless you do it hunting a long term goal
- Growing assets. My favorite. Check this article for more details.
- Making money online. Pretty often that goes along with growing assets, but there are also ways to make money without creating real business. Will be discussed as well.
- Deals that require no investment. That’s the dream of every opportunity seeker. I don’t claim to have great success with such deals, but they are not to be overlooked for sure
- Do it yourself. Some of the things we buy are 3-4 times more expensive than their real cost. Sometimes it’s not hard and is even fun to do them yourself. Such activities may sound like saving, but they are actually income producing.
I hope to help you to increase your income without losing your sleep. Investing is a way to do it, but if you lack funds now, we’d better work more on improving this situation. Bear with me and we’ll hunt some fresh fish together.