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Learn A New Skill And Earn More Money

Posted January 19th, 2012 in Making Money by Jeremy Waller

learn a new skill make more money

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.

The idea behind Code Year is to teach you Javascript via weekly lessons over the course of a year. Javascript is one of the most popular web programming languages today.

There are all kinds of opportunities for people who know Javascript.

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.

javascript jobs on odesk

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.

If you knew how to program in Javascript, you could easily make an extra $1,000 per month by just working a little here and there.

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

My point isn’t that everyone needs to go learn Javascript. My point is that there are amazing resources out there that cost you nothing but a little time and can give you a very valuable skill.

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?

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15 Responses so far.

  1. It really makes a lot of sense. There are so many resources out there to learn many things. Knowledge and skills can add up overtime and so could the money if you take the time to learn. Good post. 🙂

  2. Jackie says:

    Putting your existing skills (or learning new ones) to work earning money can make such a huge difference for you financially. I make more money in my “side business” than I do at my real job now — and my salary has increased in my real job too due to some of my side business skills. So yeah, it’s a good idea 🙂

  3. PK says:

    Learn javascript? Done!

    I don’t know how I held onto it, since we’re Python/TCL/C++ at my Day Job. Just one of those things…

    I guess I use my time to write, but that’s pretty nifty. I figured most of the jobs would pay less because there is a lot of programming talent in cheaper areas and countries. Interesting!

    • Jeremy says:

      I’ve done C++, C#, Javascript and Ruby. Once you’ve wrapped your head around one programming language, it’s mostly just learning new syntax to pick up another language.

  4. One should always be learning because you never know what opportunities might arise from the new knowledge. You could end up in another career, enhance your value to your employer as you mentioned, meet others to expand your network or start a business.

  5. I kknow Java, C, C++, Javascript yada , yada.. I am now preparing for PMP and scrum master tests. Yeah I am learning. It was a good reminder!

  6. That’s a great point. I used to think that the little money that I could earn with my spare time was not worth it (because it was probably a lower hourly rate than my day job). What I have come to find out is that I can increase my efficiency over time and make more money per hour from my side business. Now, it’s just a matter of expanding it into a full-time income

  7. Andy Hough says:

    If you want to get ahead you should always be learning something. Plus it is just interesting to learn new things.

  8. Grace says:

    Learning a new set of skills from a totally different area from where your day job position you at could complete you as a more valuable person. In time it’ll change your life by not just two folds.

    The more value you could offer to the society, the more recogniztion you could get back from the society, either financially or reputationally. That’s just the rule of nature.

    Never limit yourself to what your employer defined you as.

    Nice post, Jeremy!

    Grace

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