Do you want to quit your day job, have the money to do what you want and go on holiday whenever you want? To be able to do this, you have to be financially free. This means that you have to have an income to be able to support the lifestyle that you want to live. Currently, being stuck in a day job and depending on the income will not get you there.
Here I will provide you with 10 methods to help you realize that dream of yours. Some can be used in conjunction with others.
- Save money – By putting aside small amounts every week, such as $ 50, you can save enough over time to go on holiday or to do what you want.
- Reduce spending – There is some spending that you can avoid, which can save you heaps. Examples would be buying coffee beans and bringing coffee rather than buying it every day.
- Separate bank account – By having a separate bank account, you can put your money away and make sure you do not touch it until you invest it or to reward yourself.
- Avoid debt – By saving money, you are able to help reduce any debt that you may have. Avoid buying anything unless you have the money to do so.
- Invest in bonds / term deposits – By putting your hard earned money in bonds that give you a solid interest rate, the money earned is for you.
- Invest in property – Buying homes and renting them out is a solid way of earning income. You pocket the difference between the repayments and the rent income while doing nothing.
- Invest in the stock market – The great thing about stocks is that they do rise in price over time as the company is doing well and some pay out their profits as dividends every year.
- Internet business – You can start your business by selling items such as bags through a website and on auction sites such as ebay.
- Affiliate marketing – There are many websites that offer an affiliate program. By promoting their products, you can earn commission. They can range from 2% -50%
- Create your own product – It involves making a product and selling it online. This is one of the most underrated methods as costs can be quite low compared to what you can earn.
I hope my top 10 methods have helped or inspired you to take action. I personally believe method 10 is a solid one to go for. There are quite a few people making a tidy living from selling products about things that they know.