The title may look like two contrasting ideas that are exactly opposite to each other. But your life is much more than a mathematical equation. You can open up possibilities which may not be visible to your open eyes. So, you need to close your eyes and think. Focus on how you can achieve the twin goals without having to become a millionaire overnight. Here we suggest a few guidelines which may help you to achieve a seemingly impossible goal in simple steps.
Step-1 Increase Your Income
Avenues: Opportunities to earn more are available online in your hometown. For example, stay at home jobs in Texas can bring you plenty of links on the search engine result pages. You can write product reviews, blogs, social media content, copywriting, advertising content, and so many other types of content.
You may also plan for creative designs, graphics, engineering drawings, art and architecture works etc. Nearly all of them are high paying. You may need to spend only a few hours of your free time after your office hours.
Client Selection: You have to select the clients who pay you regularly and on time. Search for reputed companies whose hourly pay rates are higher and stable. You should have a set of design and content templates for sending as initial samples.
Domain Selection: Choose a domain which makes you happy while working. Taking up boring and complex projects can kill your motivation and complicate relations with the clients. You should have special skills and motivation to work consistently.
Step-2 Start Spending
How to Spend: Once your finances have reached a stable state, you can start spending. But you have to make sure every dollar you spend should earn you $ 1.5 in return. What sort of spending are we talking about here?
Spend on buying a higher capacity computer for your design and content work. Spend on buying a digital printer for printing photographs you shoot.
Spend on buying a scanner to scan old engineering drawings from paper. You can edit those using CAD tools and provide better service for your clients. You can also spend to get training on the latest technologies and tools for your part-time /freelance job.
When to Stop: Once you reach the threshold of your business needs, stop spending and start working. You can experience a surge in your earnings within the short span of time.
Step-3 Start Saving
Now, it is time to start saving. Your office work and the extra job may take most of the time during weekdays. It may also take your weekends. Don’t worry. You can start saving in your bank account. Make intelligent investments in stable stocks like logistics, treasury bonds, pension plans, and others. Your consultant can help you to choose the right plan at the right time.
Step-4 Start Spending
Now, it is time to start spending again. You can think of taking a break and visiting Hawaii for a holiday. You can take a spiritual trip to Tibet. Or you can holiday on the Bahamas with your family. Get inspired and return to work. Start from step-1 and grow rich.