Working online, I’m constantly bombarded by spam enticing me to sign up for offers that would help me “make money online” or “make money by doing nothing” or “make a ton of money working part time”. Despite the fact I know that most of them are scams, I admit that there are times that I’m tempted to check them out. It’s no surprise that a lot of people lost a lot of money in the recent pyramiding scam on the news, despite the fact that most of us know that pyramiding is illegal. The promise of easy money is too hard to resist.
I know easy money doesn’t exist but I think there are ways to earn money without working too hard. There is a way to earn a bit of money the easier way, but it you do have to invest some time, money and effort to start.
What I’m talking about is creating several passive income generating streams. The great thing about them is you don’t have to do a lot of work to earn money but you also won’t be earning that much either. But build enough “streams”, you can a bit of extra income that could be used for savings or build more revenue streams.
This was a technique I learned from one of my clients. He’s always building businesses and investing. Once that venture starts earning, he passes over the management to someone else and starts something new. So he’s basically earning from several businesses and investments. He’s actually earning enough now that he can afford to retire young. But from what I can see, he’s enjoying what he’s doing too much to stop.
This is something I wished I learned about sooner. When I was younger, when I just started working. I wish I invested my money and started building small businesses back then. Who knows, maybe we’d be more comfortable now and I wouldn’t have to work so hard.
But enough about regrets. They only get in the way of actually doing something and I don’t want to wait for New Year to get a head start on this. As of this month, I actually started my first small side business (prepaid loading station from home) and will be partnering with my sister on another small side business. I have my freelance writing job and my VA job. I also plan to put more money into investments and savings AND make a more detailed budget for business and household expenses.
As Filipinos, we’re programmed to be content with what earn and pray for windfalls (like winning the lotto). But I’m not a patient person. Why wait for a windfall when you can slowly build one. My family is growing and I’m getting older. It’s better to start planting small trees now so I can have a bountiful harvest in the years to come.