In other words: financial independence. A freedom which means you don’t have to think about money, paying the bills or other obligations any longer.
You earn money literally while you sleep. You wake up in the morning having a higher sum on your current account.
Financial independence doesn’t happen overnight. It takes time, persistence and is enjoyed by a very, very few inhabitants of our planet. The secret doesn’t consist of the amount of money you have but of the constant flow of income covering all of life’s expenses while there’s still some left for further investment. In other words, you can go on holiday and earn money in the meantime. Almost unbelievable?
Perhaps right now unimaginable numbers are popping up before your eyes. The number is much lower than you think. Set your cost of living to a minimum to begin with. At least temporarily cross out of the list those things which don’t generate any income whatsoever nor are urgently needed. If you can’t give up television, then at least give up a subscription to additional programmes. Think of unnecessary coffees, cigarettes and so on, limit parties to once a month or replace them with a free sport where you can socialise with people more healthily. Refrain from buying a new car model.
When subtracting all of those things from your current standard of living and calculating the minimum amount of money required per month, what amount would that be? This amount represents the threshold of financial independence. When you succeed in exceeding this amount by income from various sources (with no additional work input!), you become financially free!
Why with no work input? This of course doesn’t mean never working. It means that we’ll do the work sooner. Perhaps we’ll write a song which will be sold over the Internet. If we have more money, we can buy a tea vending machine and put it in the street. If we have enough money, we can buy a flat and rent it out. If we have no money, we can become creative and find the opportunities ourselves which will return money to us. As a photographer you can sell photos online. You can sell the same photo for one euro several thousand times. Every day. As a dancer you can record lessons in dancing. And then pack this into a product and upload it onto the Internet. People all around the world want to learn dance steps all the time. Every day. And the good side of it is that you can have a holiday by the sea while still making money.
Think about small numbers. A couple of euros a day makes a couple of thousand euros a year. If you succeed in that, follow the recipe and constantly increase your income. By having a good vision, by working and by setting yourself a flexible plan, you can surely achieve the threshold of financial independence in a few years.
What’s even more interesting is that the more successful you are, the more energy you’ll get back. Even when you have attained the threshold of financial independence and you could at least temporarily stop, you won’t. Exactly on the grounds that now there’s nothing holding you back from becoming even more successful.
In any case, I recommend you set out on the path to financial independence in your field. You should succeed in this field more easily and more quickly as you already know the branch and the passion for that work already exists within you.
Regardless of your field, you can always find a way to become financially independent. Even when working as a baker, gardener or car mechanic in a workshop. You can record the repairing of cars, publish interesting advice and make money with that. Every view and click on the advert will bring money directly into your pocket while the readers will receive useful experience and advice on repairing cars. Exactly what they need and are looking for. Everyone in the story will gain.
Write a book from your area of expertise, drawing on your experience and upload it to online bookshops. For every purchase you’ll receive a couple of euros. Programme a phone application or a new online service.
The more various sources and financial inflows you’re about to have, the more stable your financial situation will be. Even if you’re already running a successful company now, think about new sources of income. If a branch of income may fail in the future, you still have several strings to your bow. Don’t put all your eggs into one basket.
When the snowball starts to roll down the slope, it gets bigger and bigger. The same goes for this theory.
This way requires a great deal of persistence, work and patience. So you can earn as much as you want without having limitations. Money and means come in an unlimited amount. Money is just a number on an account. If the number on your account is higher, this doesn’t mean that somebody on the other side has less money. Money isn’t an original Mona Lisa painting, which you take away from someone and then that other person feels deprived as he doesn’t have it any longer. Think about it, this is very important! At the same time, don’t expect money to make you happier. It won’t. Happiness isn’t related to money. When you at least had the money for a pool or a new car, then you would be really happy, right?
This is by no means the way for those searching for fast money from one day to the next.
Earning money should become an interesting game. In all of this, see that in the game everybody wins! I hope for you to never become selfish here. There’s enough money for everyone. Everyone deserves a decent life. Some people live in places where they have neither basic living conditions nor infrastructure, schools or knowledge. That’s why you should return a part of the money and above all knowledge back to society and projects providing a better life for other people, too, no matter what end of the world they live in.