It’s really such a personalized topic and each of us is going to be different, but generally there are few ways that are going to end up giving you the fastest results, if you want to end up making more money.
First, if you’re ready have a job right now ask for a raise. I’ve done this several times when negotiating my Commission’s split while working as a real estate agent or also just charging more for my own services which is kind of like me giving myself a raise, but you get the idea.
I think it goes without saying but sometimes the best way to make more money for almost minimal effort is just to ask for it.
Second, another way to make more money that a lot of people don’t realize or utilize is by switching companies. And according to Forbes the reason why sticking with one company doesn’t work is because when you’re hired they start you off from a base salary and then (shopify product research) will raise you up based off a percentage of that. Although by moving to a new company altogether you could start that base line off at a much higher amount – way more than you would get by ever getting a raise with the first company.
So, here’s what I recommend – if you’re really happy with a company you’re currently working , however sometimes it doesn’t hurt to look elsewhere and just see what else is out there and you might just end up with d you might be inclined to move.
Third, depending on the work you want to do going back and getting an education could be a great way to improve and hone your skills and potentially demand a higher salary. Especially in the event you want to switch companies or ask for a raise.
Fourth, working on a side hustle or side business could end up making you money during a time where otherwise you would just be watching YouTube videos like me watching these cat videos where they ding a little bell and they get food. YouTube just recommends you a whole bunch of other videos and they’re way too fun to watch.
This is why making more money has really just as much place in financial minimalism as say cutting back, and instead of saying the two is polar opposites you should almost a lifestyle that you want and having your investments pay for it. Because like I said, cutting back on your spending and saving more is typically going to be the best approach in terms of maximizing your money and focusing on where you get the most value (like asking what shopify theme is that?)
But these benefits end at the point where you can’t possibly cut back any more money or save any more without sacrificing what’s important to you and that to me is the main problem of financial minimalism in the way most people think of it.
That means doing both in conjunction with one another really gives you the best results and that to me is really what’s led to everything I have today. Even before I started making a lot of money I lived really frugally, I tracked all of my expenses I saved as much money as I could, I invested as much money as I could and after years of doing that I saved up enough money to invest in real estate to make even more money, even though I didn’t spend it.
Then after several more years of doing that I was able to increase my income pretty dramatically working as a real estate agent and I kept my lifestyle and my spending the exact same, even though I was earning way more, and I just continued dumping all of that extra money back into my investments because I knew that would give me a sense of security to pursue whatever I wanted to do in the future, as they knew inevitably my priorities would one day change.
And sure enough, three years ago I started making YouTube videos just for fun on the side to talk about my excitement about real estate real, estate investing, personal finance, credit cards. Once my YouTube videos began getting some traction, I decided to dedicate more time here to doing this even though my career as a real estate agent was at its all-time peak.
However, I knew I had enough saved up to the point where I wasn’t really concerned about the money and I was okay for going some real estate commissions in exchange for doing something I really loved which was making YouTube videos. Even though at the time my youtube channel was making less than 1/10 of what I was making is a real estate agent (without the use of dropshipping product research).
If it were not for those early years of living hyper frugally and saving as much money as I could, I don’t think I would have had the courage to take that leap of faith and pursue something just because I enjoyed it without being concerned of all the money I was giving up by working as an agent.
And that is really the entire point of living below your means saving as much money as you can and then taking the opportunities that you enjoy the most.
There can be downsides to saving as hard as that could be to believe, but seriously the reality is that saving money alone can oftentimes only take you so far. Even if you’re able to save 50 percent of your income sometimes that doesn’t take you as far as you would like if you’re only making let’s say twenty thousand dollars a year. We’re all so, what’s the point of saving everything if you’re miserable doing it and can’t do what you enjoy and that’s why financial minimalism is in a way just as much about making more money and maximizing your value as it is about recognizing what you want and what matter.