How to make more money, Pt 1
You know that feeling of not making enough money to cover the kind of lifestyle you would like?
Many of us feel like there’s too much month at the end of our paycheck and one of the most common things I hear about money is: "I wish I could make more". The biggest challenge in making more money is not that the money is not there to be made, but that we cannot see where we could make the money. In fact, right now, you might be sitting on a fortune, you just don’t know it yet. What we need to do is to create a paradigm shift. Throughout this series of articles, I will offer you a number of paradigm shifts, so keep an eye out for them!
Think of that one thing that you really really want or need to purchase right now. Write down how much it costs. How much money do you need to raise to get this thing that you want or need?
Now, let’s address the urgency of your need. What is the level of urgency of your need for this purchase? On a scale of 0-10, is the urgency 0, which means it’s a nice to have and you want it to make you feel better about yourself, or is it a 10, as in without this purchase, someone is literally going to lose their lives in the next 24 hours? Now, write down your answer.
In this article, we will focus on the gold you’re already sitting on. Let’s have a look at the easiest way to raise money for an acute need.
There are as many ways to raise quick cash as there are items in your house. The easiest way to raise some cash on the short term is to sell something you already own that has value attached to it. At this stage many say: I have nothing of value.
Here’s paradigm shift #1: Any item can be valuable to the right person! Think about any item in your home of some value.
Who is the person that needs the item that you have?
What does that person do?
Where do they live?
What is their profession?
What are their hobbies?
And finally, when you’ve asked those questions, ask: Where can I find this kind of a person? Let me give you an example. Let’s just say that you have an older, but perfectly functioning video camera, that you paid $400 for a couple of years ago. Let’s say that you don’t really need it anymore and that any recording you need to do, you can now do with your mobile phone or your computer. Let’s say that you need to raise $150, and you could get $100 for the camera. Let’s also say that you have a tripod and a book on how to create videos. You could possibly sell the 3 items as a package for $120 and see if there is anything else that you could put into the package to make it $150. Some memory cards, maybe? Perhaps a microphone you no longer use? Did you have another book on how to edit videos? Now, who would benefit from this kinds of a package? Maybe a high school student who is studying visual arts? Could you go to local high schools and leave an ad on the noticeboard? Maybe a coffee shop where they hang out after school?
Can you see how, with just 30 mins of extra effort, you could raise $150 if you thought through what items you are already sitting on? So, to recap:
Step 1. Look for and list items you have and no longer need.
Step 2. Choose the item/items that would bring you to your money goal fastest.
Step 3. Think about the right person. Who will need this item?
Step 4. Where will I find this person?
Step 5. Take action!
If you want more in depth pointers on how to make more money quickly, make sure to keep your eye out for an email from us on our new Everyday Money Mastery course, which will be launched soon. In the next article we will be looking at strategic ways of starting to create more consistent income for greater financial freedom. If you haven’t already, make sure to sign up for the mailing list at www.merjasumiloff.com to get the article straight into your inbox! Remember, you’re already sitting on a pot of gold and don’t know it.
Photo by Joseph Morris on Unsplash