Wednesday 3 October 2018

Having More Money At The End of The Month

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We often find ourselves in a position where we have more month at the end of our money, rather than more money at the end of our month… and this can be a very stressful place to be in, particularly if it’s a chronic cycle rather than a one off issue.

This is why the concept of payday loans has become so popular, and these can be particularly helpful if you are in need of short term cash injections.  You can go to this site to find out more information about these type of lending.

The core challenge we have when it comes to making money, is that most of us are stuck on a treadmill, where we are trading time for money - meaning we exchange a particular unit of time for a particular amount of money.

Now, whilst this amount tends to increase with experience and age, it is inherently limited as it is always based on the sum of input, and in simple terms, there are only so many hours you can input in a day, week, month or year - meaning working for money in this sense is not going to create too much more opportunity to grow your monthly income.

That’s the ultimate problem when it comes to trading time for money; there are only so many hours upon which you can input, and even highly paid professionals such as doctors and lawyers are limited by how much they can charge for each unit of their time.

The highest paid job, in the world, would appear to be working as professional speaker, as some professional speakers can make upward of $250,000 for just a ninety minute speech - yet these opportunities are far and few between, and what you don’t see, is that under the surface, they are having to invest hundreds if not thousands of hours into crafting the perfect speech.

Similarly, actors that are paid a set fee are still beholden to the principle of trading their time for money - even though that fee is sizeable, yet, if they shift their position to accepting a lower upfront fee in order to achieve a royalty style income, they are in the position to generate revenue in perpetuity; meaning, each month they will receive a check based on movie sales.  The same is true of pop stars.

Therefore, if you’re in the position where you keep seeming to run out of money at the end of each month, the best thing you can do is to find ways of generating passive income that don’t require you to trade time for money.

This article looks at a number of ways to have more money at the end of the month by supplementing your income with opportunities to create passive income, as recommended in the book “Rich Dad Poor Dad” which shows how differently the wealthy utilise their time and resources compared to those stuck on the financial treadmill of trading time for money.

See, the wealthy understand that the only way to get wealthy is to have assets, systems and processes in place - where you are leveraging assets, for instance a property, to generate income time and time again… without you needing to physically put in hours, of the day, of which there are only so many.

Here are five reasonably accessible ways you can do just that:


You have existing knowledge and know-how that you can pass onto people through an online course, that is very easy to create, market and sell.  The best thing about this is that you are building an asset that you can market (automatically, on auto-pilot) without needing to put any more extra time into it, once it is up and running.  In this sense, you have passive income because you are using an asset (your course) to create the revenue, rather than trade time for money in the more conventional way.


If you are in the financial position to buy property and rent it out, then this is one of the most reliable ways to invest money and create an asset that can be leveraged, in addition to its value appreciation over time.

If we take the example of you buying a $100,000 property, where the mortgage is $500, yet you can rent out each bedroom for $400 per month, of which there are three, you would be making $1,200 gross profit - minus the cost of mortgage, that is $700 per month, that would be going into your bank account.  Now, there’s nothing stopping you buying a few properties and having this ten times more.

Imagine what your life could look like with an additional $7,000 per month; all through maintaining a few properties that, over time, are going to appreciate and leave you with a nest egg for your retirement.


The third option is something known as network marketing, which is, essentially where you recommend products you are passionate about, to a handful of customers, and then find a handful of people that would also like to make some extra income and coach them to do the same.  The company pays you a commission based on your own sales, of between 30% and 50% in addition to a smaller “coaching bonus” on the sales volume of your team.

This way, whilst you might only be working ten hours a week, if you find ten other people that are willing to put in ten hours to their own side hustle… that means your broader business is actually turning over 100 hours, on which you will get paid based on the output of your team - meaning it’s another opportunity to have leverage.

In summary, these three ideas are things most people can do, that won’t take up too much of their time and are building long term assets that are leveraged time and time again - meaning you are making more money at the end of each month, without having to work tons more hours.

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