You either progress or slowly advance to broke. I know, I just contradicted our modern society philosophy. But this stability is an illusion, and the sooner you realize the better for your wealth.
If you sleep on this false security thinking that your future is safe just because you have a paycheck, you will be caught off guard when financial difficulties come along.
Why is the financial stability an illusion?
Let’s take an example: John earns 20.000 $ a year from his job. That sounds nice. He feels safe because has the same amount of money coming towards him each month.
Meanwhile, prices go up, he has more taxes to pay, he has a beautiful newborn baby, real estates lose their value and his company is on a bankruptcy risk.
Bottom line: he makes, in fact, less every year, because with all the rises on groceries and other expenses, he got less money in his pocket left. Maybe he doesn’t realize it that much, but when he will it will be written “bankrupt” on his forehead.
As you can see, John doesn’t have the financial stability he thought he did.
Why do we need to know this?
Getting awake from this illusion will make us prepare our financial wealth. When you think “Hey, I have stability, I don’t have to worry about it anymore”, that’s when you start to advance to broke. Because you just ignore your finances, and when things will go down you will be unprepared.
Now, I don’t say that being an employed means that you are risking it all so you shouldn’t do it at all. 😂 What I am really trying to say is that you must be prepared by increasing your income.
What’s the solution for this?
We are fixers, so we won’t focus that much on the problem, right? We know it, now it’s time to get to the action.
There’s an advantage of our modern society. Yes, things are kind of unstable if you have one source of income. That brings us to our solution: get more sources of income. You don’t need an extra job to get more money.
That’s our modern advantage: writing articles, taking pictures, investing in stock market and even blogging about your hobbies can help you make more money. There are many ways to increase our income.
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Expand your area of ability. Get more experience into new domains, try new things, learn new ways to bring some cash. Even by saving money you can help your financial future. Read books about getting rich, and get that mentality into your head. Educate yourself, discipline yourself and start to apply it.
I know it’s nice to feel safe and have some kind of security, but the truth is these values will come when you will progress financially. If you have more sources of income you will be safe. If you expand your area of expertise, you will have more security because if the company goes down you will be able to pick something else.
The world is changing either if we want it or not. The river of life keeps flowing, things keep moving. So we must learn how to swim properly. If you let yourself get dragged by the current, you will end up in a waterfall faster than you think.
Be aware, be prepared and start to increase your income by any means possible. This will be your financial security.
What’s your takeaway from this article? Do you have more ways to generate income, and if not which one you might choose next? Share it with us in the comments.