Money and well-being. Raise your income without extreme saving.
Your bank account feels static and arid nowadays. You don’t have the expertise in high-paying industries like programming and don’t have any interest in changing jobs or profession. And yet you feel like you could have more.
Let me tell you, you can right now.
And without having to save up to the point where you live inside a cardboard box, like many FIRE movement fanatics claim you should do. You should only follow these 3 simple tips, and you’re set to go!
1. Buy and Resell
You’ve probably got a few things you don’t use at all in your home right now. With the rise of e-commerce, any layman can make some cash. You might try your hand at an Amazon account and test it out.
I, as an example, don’t have a job right now. I’ve been living from my savings for four months, buying electronics at a discount and selling them later in my Mercado Libre account. While this doesn’t necessarily make me the money to live a full month every month, I can count on it to pay my bills and main services.
2. Learn to invest
And of course, no surprise, I’m a big fan of this option. I live off of this!
YOU DON’T NEED TO ALREADY BE RICH TO START INVESTING.
I personally invest only in stocks right now. What’s so great about this is: You don’t depend on demand the same way you do if you Buy and Resell physical objects. You’ve got much more liquidity, and this means that if you need your money this very moment, you can have it no problem.
What are you gonna do if you can’t sell the new PC you just bought? You either stay the same, making no money at all, or you lower the price. And then you wait for your custumer to arrive. If I need to sell my stocks, I just enter what’s called a market order, and I’ll have my money by today or tomorrow.
This one needs you to educate yourself, obviously.
You can start with this guide by the Investopedia website, right here: How to Invest Online
3. Save on the big things
Save on electricity, water and gas as much as you’re reasonably able to!
I’m currently living in a very expensive town. When I arrived and my first month’s bills exceeded $5000 ARS (Which is about five times more expensive than at my home city) I was gobsmacked. I thought I wouldn’t survive if the rest of my services and purchases were this expensive.
Moderation saved me, of course.
I now make sure to have only turned on the light of the room I’m currently in, and I make sure to unplug my computer and phone once they are charged, always. Because before I thought about global warming as often as not. Now not only do I save in electricity, I save in future battery purchases too, as having my PC and cellphone plugged in more than needed only drains their batteries’ life spans. I do the same with water, taking short showers. Although I have to admit to doing the contrary once in a while. My gas usage is another story right now, as somedays I’ve got to keep something on, else I freeze to death, given these andean conditions even in summer.
And I don’t own a car either, although of course you might fully need yours this very moment. I live in a town after all.
Using this measures I saved about $1500 ARS, or about one third, on all my bills.
A Little Plus!
If you’re stuck in a creative void, where you create yet no feedback is received, you can try filling it. I’ve been making some side money with photography, using my own photos; photos like this one:
If you have a creative side, try monetizing it. It can be scary, as it almost poses a threat to your most inner being, having to be judged and all that based on your work, but the experience can be very rewarding to those that accept rejection and put the effort.
