How do I earn more money?

When I talk about financial education, most people ask me: “How can I make more money?” In my work, I plan your goals and consult you on choosing the best savings and investment products on the market. I can’t tell you for sure what you could make more money from, I don’t have solutions, but as you ask a teacher: how can I make my learning better at home; as a specialist I can answer you and this is the purpose of this article. I will tell you, but I won’t “get you” 100%. There are several ways to make more money. It depends on you: your interests, motivations, passions, your time and energy at the same time, as well as the decisions you want to make.

I can only offer you guidance and my perspective.

How can I make more money? Here are 5 options!

1. Writing a book

I have written both a physical book, printed, and an ebook, each one has had its own journey and from my own experience I can tell you: it is like starting a business. First of all, you need an idea, in addition to inspiration, the necessary knowledge in organizing and orienting yourself in the book business. What do I mean? It is necessary to know what the stages are to publish a book and since I was asked, I will tell you too. There are two niches:

a) self-publishing
b) publishing

Both have their pros and cons. I found pros and cons for each. The grade is subjective.

Regarding self-publishing, I found:

the advantage of keeping the copyright and distributing it wherever I want, and if I want to give my book as a gift to a friend, I don’t have to buy it from the publisher or ask the publisher for permission to sell it in a specific store.
The disadvantage: the publisher provides you with: an illustrator, editor, proofreading and distribution stores.

Publishing your book at a publisher gives:

the advantage of not having to worry about finding an illustrator for the illustrations in the book or the cover, a good proofreader, or bookstores where your book can be sold, and
the disadvantage is that you cede the copyright for a period of time between 5 and 8 years, during which you will receive a percentage between 3 and 10% maximum from the sale of the book

2. Start a business

You can open a part-time business. The job helps you support the expenses of a business, at least at the beginning, then for its development or sustainability, if it is a business that produces quickly and becomes independent, you can quit your job. The important thing is that you reinvest everything that your business produces. You can invest in another business or in another field of investment to diversify and not end up in the position of having to rehire to support your expenses.

You can choose a franchise, and the risks are minimal. I am focused on safety and that is why I chose this option. People who have this personality type will choose a franchise, those who have a risk-oriented typology will set up their own business. You can also have a franchise, then create a business that you can take to the franchise level.

3. Become professional – freelancing

You can get a degree, take a course and become professional in a field in which you are passionate and practice, in your free time, so that it can become a lifestyle.

You can have your own consulting firm in different fields or workshops: give courses or offer meditations. The field in which you work should be something you enjoy practicing and that there is demand in the market. Furthermore, with a good sales strategy, you can live off this activity or do it in parallel with your job, so that the income from this activity is directed towards another investment, diversifying and eventually being able to achieve your expensive financial goals, achieving the desired financial independence.

4. Start a blog – advertising and affiliate marketing

You can start a blog if you are passionate about a certain field and you can display advertisements for products and services. This way you can earn a commission, writing about products and services to boost their sales and at the same time inform customers of those types of products/services.

To increase the number of sales of a product, its administrator offers a commission. There are affiliate sites where you can find well-known companies from which you can earn a commission.

5. You make an online store – dropshipping system

You can make an online store and find the products and services that you want to promote and market. The manufacturer of those goods/services will offer you a commission and for him you represent a sales force conducive to his development.

Regarding point 4, here you establish a niche that you want to go to; personal development, let’s say, and you look for the manufacturers/suppliers of products and services in this niche, you contact them, negotiate the commission level with them and list the products on your website, advertise and thus have a passive income. You can put this idea into practice, because there is no such store or at least I have not come across such a store. The idea would be a site where psychology offices are listed, products: books and courses in the personal development category, both from our country and from abroad (request a license for their distribution) and you have a variant through which you can generate passive income.

There is no need to reinvent the wheel. There is no need to create a product or service that no longer exists on the market, but to make improvements.

Now, having a place where you can find everything you are looking for is necessary. We live in the age of speed and “we don’t have time”. We are looking for solutions to save time, and with all this, to have the necessary information to make a good decision. That is why, for a while, there have been price comparators, product, service or location recommendations.

Laurențiu Mihai has 101 ideas. I invite you to be inspired by him so that you can earn more money. https://laurentiumihai.ro/metode-de-cum-sa-faci-bani/

How to make more money? Diversify!

How to make more money? You’ve found out the options for this question, now I have a question for you: “What do you do with the money you earn?”

All the solutions above are methods to generate an active income, initially. Depending on the development of each point, it can later represent a passive income. In order not to put yourself at risk that that solution is not reliable, I invite you to invest the income generated in another activity or in the capital market: directly or indirectly (investment funds). Thus, you will also register an increase in passive income, and the achievement of your financial goals will be sustainable; like in a game: the more points you have, the closer you will be to winning the game.

Active income can help you increase the level of passive income, as well as your involvement: time, energy, knowledge. However, the decision is yours. You can get involved in one field or more; in what you like. It is imperative to diversify and invest. I mentioned the capital market because there you will find regulated instruments, you will find a variety of fields in which to invest.

For more information on how to achieve your financial goals and achieve independence, I invite you to download the free material: “Steps to Financial Independence”. https://www.psihologiabanilor.ro/

Success in money awareness!