When I first made this site, I recognized that outside of retirement accounts, the stock market does not work for most people (including myself at one point) because of the initial barrier of generating enough capital to make your investments worthwhile.
Let’s face reality – even with great investment strategies and big returns, if you cannot come up with a decent amount of money to invest with in the first place, you are never going to make big money in the stock market.
The fact is that the vast majority of people are unable to come up with enough money to get out of debt, let alone put into investments. Why is the case?
The Game is Stacked Against You
The primary reason that so many of us are in debt is not due to errant spending habits but rather cultural influences. There is a strong pressure in American (and western culture in general) to enter into life-long debt.
It all starts out with college. Parents and students from all economic backgrounds are brainwashed to believe that in order for their kids to have any hope of a decent future, they must attend a 4-year college. Starting a business is simply not considered an option and entering into a trade is looked down upon, even though both are economically more viable then getting a liberal arts degree.
After taking out student loans, young graduates are then given the opportunity to buy new cars with zero down. Then, you are told you must buy a house within a few years of graduating college and working in order to be on your way towards success.
Between student loans, car payments, and a mortgage, most individuals live a life of debt, only accruing a positive net worth in their golden years.
The majority of individuals spend the vast majority of their lives in debt, and to me, that is just outright insane. However, what choice do you really have?
Beating the System – Making More Money
Unless you want to opt out of life and live on a commune, the only way to escape a lifetime of debt is to either make more money or cut expenses. Unless you live an extravagant lifestyle, you can only save so much money by cutting expenses. Additionally, cuts that save you a few bucks a month can lead to significant reductions in quality of life.
While there is wisdom in living a simpler lifestyle, the only real way to get out of a significant amount of debt in a decent amount of time is to make more money without increasing your lifestyle expenses.
Just think about it – if you could make an extra $1,000 a month and put it entirely towards paying off your debt and then ultimately investing that extra money, you could pay off most of your debts and build up a nice portfolio very quickly. When you only have an extra $50 or $100 a month to put towards your debt when you are in trouble.
As a result, I have created this section of the website to focus on making more money in order to supplement the investing portion of this site. By paying down your debts or investing more money into the market, you will naturally have more success with your investments.
Making Additional Income Online via Working
One of the easiest ways to make extra money is by working. For most people that already have a full-time job, working online represents the easiest way to make more money and yet still lead a relatively normal life. By working online during the normal hours you have reserved for watching TV shows or doing nothing in particular, working online can easily fill these gaps to help generate some extra income.
Here are some of the methods we have covered in previous posts:
Over time, this section will be built out to include more information and more platforms for making money via working as well as a comparison post on making money through a second job versus working online.
Making Additional Income Online via Business
If you are looking to make more than just a little bit of extra income, you are going to have to go beyond providing services for others and start your own business online. I make my entire income online through the variety of websites that I own, and over time I want to go into detail on exactly how I do that and how you can too.
When working online through oDesk or Elance, you are essentially a contractor and the people paying you for that work are those running online businesses. These businesses are not only able to pay you for your work but are also making a profit on it. While there is more risk in starting your own business online, you can ultimately earn more money and pay people to work for you!
This will be covered in future posts and this will be updated accordingly.
Make Money Online – The Important of Making Additional Income and How to Do It
Now that you know how important it is to make extra money in order to escape the debt cycle that is part of every day modern life, you need to pick a technique and stick with it. Whether you decide to work online, pick up a second job, or start a business online, there are a variety of approaches available to you that you can use to make some extra money.
I will be covering a new platform for making money every week or so and updating this list accordingly, so be sure to check back often for more money making strategies!