A little extra money can never hurt right? There aren’t many people in the world that would turn down extra money. You can use it to pay off debt or save for college or retirement or a vacation or 100 other things.
The problem is most people find it difficult to make extra money.
I’m stuck in a job and the only way I can make more money is if I get a raise..
That kind of attitude is why so many people struggle financially their entire life. They play the victim card. They don’t believe that they are in control of their life.
You have the ability to control your income – especially income that doesn’t come from a traditional employer.
Gives Yourself a Pay Raise By Learning A New Skill
A couple of weeks ago Mayor Michael Bloomberg tweeted about a new website called Code Year.
I just looked over at oDesk, a popular freelance site, and there are hundreds of jobs that pay $200 and up for projects that would only take a couple of hours to do.
Could you find a couple of extra hours in your week?
I bet you spend a lot more than 2 hours each week just watching TV.
Would $1,000 per month have a meaningful impact on your finances? I know it would on mine.
But learning how to program is hard. That stuff is for computer nerds.
Sure it may be more difficult than watching TV, but it isn’t hard. Code Year (and a number of other similar sites) breaks it down in simple steps. And it’s FREE!
Programming Really Isn’t The Point
Can you be financially successful working a 9 to 5 for the rest of your life?
Sure you can. But you can do better.
What if I told you a couple hours each week could turn into $3.5 million dollars? Would that be worth it?
Let’s get hypothetical for a minute so I can show you some sensational numbers. If you could learn a new skill and then use that skill to earn an extra $1,000 per month and then invest that extra $1,000 every month, the results are amazing.
- Invest $1,000 per month
- Put it in an index fund and average 12% returns
- Keep doing it until you retire – let’s say 30 years
- Result: $3,494,964.13
Crazy right? Is your TV time worth 3.5 million dollars? Even if I’m half wrong you’d still have $1.7 million.
Even if you didn’t invest it, just sit and think for a minute what you would do if a check for $1,000 showed up in your mailbox each month. I’m sure you don’t have to think too hard to figure out how you could use it.
Last month I mentioned that I was making extra money with a side job. In just doing this for a couple of months it has already had a big impact on our finances. I really want to hit my goal of paying off $15,000 of debt this year. And I’m doing everything I can to get there.
What are you doing to change your financial future? Do you have any skills that you could put to use? Maybe you’re already doing something like this – if so what impact has it had on your life?