With economic times being the state they are today, everyone is looking for the answers when it comes to trying to bring in as much cash as possible. While there are so many schemes, fads, and philosophies on how to make money, the bottom line is that the universal rules have been the same since the beginning of the invention of money. These three universal laws are so blatantly simple, and most of us already know them, but we often go wrong trying to follow them. Spending as little as possible, earning as much as possible, and maximizing your resources are the three universal gospels when it comes to making money, whether as an individual or as a business.
Spending is often where most of us get caught up in failure when it comes to figuring out how to make money. We often earn enough money to live comfortably and even have money to save only to end up spending it on things we don’t really need. Sometimes these things are just daily incidentals that add up over time, like those five dollar lattes you buy every morning. If you could cut back on these kinds of things and settle for a regular coffee once in a while, you’d be on your way to cost control. Other times, it’s the big-ticket items that trap us under years of payments we never should have made, like a new car payment for a vehicle we didn’t need to have but just wanted.
Earning potential can sometimes be limited during slow economic times, but there is still the opportunity to work a few extra hours, land a second part-time job, or simply minimize the days you cancel or leave early, reducing your earning potential. income. Just a few hours of overtime can make all the difference when learning how to make money, and a second job, even just four or five hours a week, will not only generate more cash, but also allow you to network at a second location that it can become something big. Not calling in sick or being gone an hour or two early will also increase your earning potential simply by staying at your job for the right number of hours. These early exits will always hurt your bottom line, and when you’re sitting penniless, you probably never think about how those extra four or five hours at work would have made a difference.
Ultimately, the principles behind knowing how to make money are things you really know, but you just have to discipline yourself to make them happen. If you apply just one of the three concepts to your life, you’ll be better off, and if you can do all three, you’ll see how much more money you really have in your pocket.
