You might be tempted to believe that investing is only for those who have lots of money and assets. You might think that it’s impossible to earn enough money to buy a car or a flat by just relying on a minimum wage. Guess what? All those are nothing but prejudices inflicted on you by society, or simply your brain activating its natural mechanism. Most people make excuses when they can’t accomplish their goals in life. But you want to be better than that!
First and foremost, you need to understand that the most precious resource a person can have in this life is time. Don’t be intimidated by all those hotshots who never stop talking about how much money they have, but don’t have any idea how to spend or manage it! What’s the use of being filthy rich if you have cancer and only two weeks more to live, for instance? What’s the use of being rich if you spend all your money in a club during a weekend on expensive drinks and women? On the other hand, a person who’s broke but young and healthy has all the time in the world (practically speaking) to try to accomplish something big.
Even if you don’t have a high-paying job, you can learn to earn money the right way to buy a car or even a house. Remember when we just spoke about time? Well, time can also act a bit against you if you’re not careful.
Lesson 1: have patience
A lot of people don’t succeed in life because they simply don’t have patience. That’s why casinos and betting agencies make millions every day: they’re flooded with people who want to win crazy amounts of money as fast as possible. Those folks don’t have any patience in order to try to make money in the long run, and we can’t blame them. If someone tells you that they can give you a thousand times more money than your salary in just a single day, it sounds a lot better than a person who offers you the chance to earn money to buy a beautiful sports car over the course of two years, for instance. But guess what? We’ll play the devil’s advocate this time and tell you that there’s almost no way you can win crazy amounts of money in a single day or hour. Surely, there are people who do it, as otherwise, nobody would be into gambling anymore. There’s an exception to every rule out there. But let’s face it: you are NOT that lucky! The odds are clearly NOT in your favor!
Have some patience. Use your mind. You can do it!
Lesson 2: earn money with each penny that you can spare
Each and every month before you get your wage, make a budget for each set of expenses. For instance, let’s say your wage is $1,218 per month. That’s the general minimum wage per month in the USA. Establish a budget for food that won’t exceed $600. Establish another budget for going out with your loved one at $400. Focus carefully not to surpass those budgets over the course of the month. It means that $218 will remain unspent, which is the amount of money you can add to a savings budget. Do the same each and every month. That’s your key to buy yourself a new car. Simple, right?
Surely, the whole scheme involves a lot of patience, but that shouldn’t be a problem. Remember that companies make millions every year by simply raising the prices of a product with insignificant amounts of money, such as 10 or 50 cents. Considering that millions of people buy such a product, there’s no wonder how the companies make insane amounts of money.
Regularly adding around 200 bucks to a savings budget can surely make you save enough money for a new car, even if you’re on a minimum wage. The lesson could be intimidating at first, but once you think about it rationally and leave your emotions aside, you realize that it’s completely feasible.
Get an extra job
As an optional variant, you can also consider getting yourself a second job. Of course, you can do it if your time allows it. If not, you can opt for some other activities that could bring you some extra dough, such as selling on eBay, walking the dog of an old lady, preparing kids for a math exam, and a lot more. Such activities shouldn’t be too hasty with your time, as a lot of people opt for them in order to earn some extra cash.
Each and every source of income can be in your favor, and the more money you save, the better for your ultimate goal of buying a new car!
You must understand that establishing a budget for each of your set of expenses is not only recommended for earning money in the long run, but it can also be crucial in order to keep your general expenses in order. In our world, temptations to spend money are everywhere, as soon as we leave the house or we open the laptop/smartphone. It’s very easy to go with the flow and forget about any initial plan you might have when it comes to your income. Companies won’t even hesitate to recommend to you products through ads based on what you’ve already searched online.
You got the main idea: it’s very important to spend wisely and keep your earnings in check if you want to achieve something in the long run. You can do it, anybody can!
Tim M. Hill helped bring Digital-Overload from a weekly newsletter to a full-fledged news site by creating a new website and branding. He continues to assist in keeping the site responsive and well organized for the readers. As a writer to Digital-Overload, Tim mainly covers mobile news and gadgets.