If you make by fixing problems, the more complicated the problem is the more money it's going to make you. So they in my title Wall Street, its businesses, its people that want to keep stupid when it comes to how to get wealthy. Because the truth about money is so simple, that anyone can literally work on it.
The first thing I want to say is that making more money per hour, is not going to translate to working less unless you choose to. Here is what I mean.
- My friend got out of college and worked for a Company making 75k
- Then he went to another company and made 200k plus
- He works the same amount of hours
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1. Increase your Level of Skill
- There a difference between an entry-level job and a minimum-wage job
- When you compare to having a skill that can earn you more money
- The problem here is that people raise their expenses to the level of their income and that’s a mistake
So if you go from making:
- $15 bucks and hours to now making 25 the average person will say
- Well that’s an extra $10, for a Car, Apartment or whatever it is
- But it could also be
Alternative:
- Work less literally ( if you were living on 15 bucks an hour 40 a week ) = $600
- Now you can make $600 in 24
- Literally don’t work those hours you don’t need to
- But I would, for Debt Pay off, Emergency fund, investing, and owning a home
- While keeping costs low
Ps. Side hustles are great, but you have to get real skills that earn cash. Not just sell more time for money
2. Change Job Agreement
- Instead of going to the office and spending 3-4 hours working and another 3-4 hours wasting time
- Negotiation a from-home position with your employer (even if hybrid and on a trial basis ) - a lot of videos exist on how to go about approaching this
But the truth is:
- You don’t need 8 hours to work
- More than often, it takes about 4 hours
- And then you’re done, just have to be efficient and keep delivering
3. Lower Your expenses Those needing to work less
- In New York my bills could have easily been over 2.5-3k per month, trying to be frugal
- In the Dominican Republic I spend $1,200 a month
- But this doesn’t have to be that extreme
You can:
- Sell the car
- Switch apartments
- Cut the bills
- The less money you need the less you can work
- Those things you have and want, are more like chains than they are good for you
4. Increase Passive income
- This is one of the most popular ones but I would do it very slowly
- Here is how I did it
- I chose the stock market because I understand it well enough to be confident
I wrote down all my bills
- Haircut: $480 a year - $12,000
- Phone bill : $840 - 21,000
- Internet bill : $1200 - $30,000
- Food bill : $2400 - $60,000
- And the bigger ones also
- Then I would get the annual cost
- And multiply it by 25, and that told me how much I needed to be invested
My response was this:
- Cut my own hair
- Get a cheaper phone bill ( I pay about $30 now )
- Lower my internet bill ( I pay $60 now)
- Food was pretty good
My investment: S&P 500
5. 90 on 15 off
- This is a rule that I follow not always but when I do it takes my productivity level to another level
- It's you focus for 90m at a time and then take a 15m less 3 times
- That gives you about 5:15M of work and rest
My recommendation is to start slow:
- 90minutes of only working in our day and age
- With goldfish attention span is very hard
- And most of us think we work hard but we are just multi-wasting time
Good luck
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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.
20 авг 2024
