So let’s say that I decided to take that landscaping or lawn mowing job or business, I had started and run with it and I decided that I wanted to work 40 hours a week at that job.
Let’s say I did that through all of my teenage years and I made $10 an hour. So following the basic equation that you work a 40 hour work week and you work for $10 an hour, that means I would make $400 per week.
Now, let’s say that I didn’t have enough money. I wasn’t making enough money and I wanted to make more money. So if you’re unhappy with the amount of money you’re making, you basically have two options here because there’s two variables that control your paycheck.
First of all, that is the time, the amount of time you’re spending actually working and second of all, it’s going to be the skill which is going to determine the hourly rate at which you are paid.
So if you’re looking to make more money, there are primarily three different things you can do and I call this the bad solution, the better solution and the good solution.
So first of all, let’s start with the bad solution.The bad solution is to start working more hours and sacrifice more of your time in order to make more money.In my opinion, this is completely ludicrous.
I would never wanna work more than 40 hours a week and why people do this is absolutely beyond me but I’ll share my personal experience here.I used to work at a job whereI was surrounded by people who would brag about the amount of money they were making but they weren’t bragging in terms of oh,
I went home and I started my own passive income business online or I’m doing drop shipping andI’m making two grand a month.They were bragging about the fact that they were sacrificing their nights and their weekends and sacrificing their family’s happiness in order to spend more hours working at that job and if you ask me, that is nothing to brag about but that is what these people did.
They sacrificed their time in order to make more money and that’s a very bad solution to this problem.I’m talking about people that would work 70, 80, even 90 hours a week to make $150,000 a year and it’s just why would you even bother doing that?Why would you sacrifice your time to make more money?Anyways, that’s the bad solution to this problem.The better solution is to learn a more valuable skill.
So if you’re making 10,$15, maybe $20 an hour and you’re saying I wanna make more money then you go out there and you learn a more valuable skill.
Maybe you go to college, maybe you go take an online course and you learn how to do online marketing, something like that, whatever it is, you’re learning a more valuable skill which is going to increase the rate at which someone will pay you for one hour of your work but the best solution has nothing to do with this formula at all and in fact,
the best solution is to follow a different model and the thing is so few people understand the fact that there’s a different model out there when it comes to making money because what this tells us here is that time is always a variable in the amount of money that you are making.
You either have to sacrifice more of your time or figure out how to make more money per hour that you are working but you can make money in ways that do not involve your time.So when I was 20 years old,I started exploring different ways to make money.
I read books like Rich DadPoor Dad by Robert Kiyosaki. I read a book called Click Millionaires, all about how people became millionaires off of the internet and I started thinking about the type of incomeI was earning and that’s when I learned that I was earning something called active income and what that meant is I only made money when I was actively working.
So for those eight hours a day, I would make money but on the weekends and on the off hours,I made absolutely $0 and the major flaw with active income is that your time is always involved with this type of income.
That is when I started to learnabout something called passive income and I know people right now are gonna say, yeah, no shit, Sherlock, I know what passive income is but have you ever really thought about it?
Have you ever really thought about the fact that you can put in effort today and build something that will pay you every single month, every single week or even every single day for the rest of your life but so few people are actually willing to put in that initial work today to build a passive income stream but I told myself I was willing to put in that effort and do whatever it takes to earn passive income and get out of this trap of earning active income.So let me explain it to you this way.