It’s World Money Week and I thought of just sharing some “money tips” with you all. Everyone obviously wants to make more money one way or the other. This remarkable revelation isn’t so surprising considering the fact that the likes of “Mr Bill” are still looking to make more of it (money). This is why I would be offering some tips on how you could make that extra “quid”, either quickly or over appreciable time. First of all, lets consider some principles on how to make money in general terms.
1. Time is Money: Never ever forget this principle if you desire financial success .Your ability to manage your time (and stop procrastinating) is a critical ingredient in your ability to make money. Whether you have a job or are self-employed, keep track of what you’re spending your time on. Ask yourself “Which of these activities make the most money, and which of them are a waste of time?” Do more of the former and less of the latter, simple as that. When you’re focusing on high-priority tasks, get the job done well, and get the job done fast.
2. Employ the law of supply and demand to your very own advantage. For instance, if you want to do something that many many other people are already doing(so much so that they do it for free, as a hobby), it will most likely be difficult making money from it. On the other hand, if you choose to do something that most people don’t want to do, or if you can do something so well more than others can, then you’ll probably make a lot more money. Therefore, choose your career wisely!
3. Raise your prices: If you’re providing a skill, service or product that is in high demand and low supply, and you’re making the most of your time, you should be making good money. Unfortunately, there are many people who are too humble or fearful to demand that they get paid accordingly. Ensure that you people don’t take you for granted in your business. Don’t be a people pleaser. Take away sentiments from your business. If you deserve it, demand for it.
4. Be proactive: Always make plans (complete with as many calculations as possible), anticipate everything that can go wrong, then contingency or backup plans for each scenario. Never leave anything to luck. Assume the worst and brace yourself. Don’t forget the advice of Louis Pasteur, a French chemist who made several incredible breakthroughs in the causes and prevention of disease: “Luck favors the prepared mind.”
5. Set your priorities right: This is key in achieving your goal. Remember, a ‘kobo’ saved is a ‘kobo’ earned. Know the difference between an asset and a liability. Check up your lifestyle, do your expenses outweigh your income? If yes, then do something about it fast.
Finally, let’s consider some money making schemes (I know you’ve been waiting for it).
For raising quick cash, here are some tips.
i. You may want to consider day labour. It might not be all that befitting but it provides that urgent cash.
ii. Sell something. Look for that item you can afford to part with and sell it.
iii. You might also want to donate blood. You could get paid for it
iv. Seek for a loan
v. Ask for a gift. It could be from family or a friend
vi. Work overtime.
vii. Gather up some loose change
Get a second (or perhaps a third job)
Note, however that, some of these tips could also be applied to make money big time. In addition, here are other things you could do to get more money.
i. Turn your hobby into a business
ii. Offer your services to others
iii. Try out some online jobs
Bottom line is Get motivated and Do Something. Happy World Money Week.