We have all seen articles about making money online and working online.
This is a great way to free up extra income that can be used to pay off debt or invest earlier than usual. Additionally, you can take advantage of these income opportunities to work on your own terms and wherever you want. It’s pretty fascinating if you ask me.
There are so many opportunities out there, and it’s so hard to sift through the right ones that give you the best opportunities. So what’s the best way to go? Trade your time for money, like being a freelancer? Or do you want to go out and deliver groceries for cash? My Approach The road to financial independence was fairly simple. I graduated college with over $60,000 in student loan debt.
This resulted in a significantly negative net worth. I haven’t had a fortune to my name…except for a broken old minivan for a car.I worked pretty hard in college, which led to decent grades.
This helped me get a decent full-time job after college.
I knew that a full-time job outside of college wasn’t enough. People who are 35 and want to pay off their student loans could have signed up for apps and used free money and more, but that’s not enough.
It doesn’t move the needle fast enough. So I stepped into the world of making money online.
I learned a lot from various online income sources. To this day, I have been able to use my online income and my daily wage income to pay off all my student loans and step into the world of real estate investing.
I share with you my steps of where I am and where I want to go.
How to Use Your Online Ventures
– The Cycle of Scaling Time and Money outlines some steps to take on the roller coaster of earning money online, and offers some helpful tips along the way.
Freelancing is for people with skills. Graphic design, video editing, proofreading, consulting, translation, speaking, and virtually any skill can be monetized. The list goes on and on.
Think about what you are good at and what you like. You can monetize it.
One thing that came to my mind was… freelancing and trading time for money. over and over again. Yes, the money was good, but it still felt a bit like a day job.
You couldn’t make more money without sacrificing hours.
This extra income allowed me to take a little more risk. I wanted to try blogging. I tried it and was immediately impressed. Blogging ticked all the boxes for me: Blogging has unlimited income potential Working when and where I want Hobbies, case studies, advice, tips, learning You can write anything you want, such as lessons learned. Most importantly, you can scale your site without spending too much time. Blogging is hard work and requires a huge learning curve.
But stay tuned. It pays off. Eventually, I was able to scale my blog so that I was earning as much as my full-time job. Not just a blog.
This step talks about taking risks with your online income or side hustle. Once you have some flexibility in your budgeting, take risks and see where you go.
Step 3: Scale and Pair – Maintain Your Entrepreneurial Spirit Freelancing and blogging are both great ways to tinker as they can be combined to generate extra income.
Your blog can be a means of generating additional freelance income.
Your freelance business can refer people to your blog for articles, helpful tips, and more. The complementary nature between the two is very strong.
It doesn’t matter what you do or how you do it. Always think like a business. One thing I never thought about was growing my freelance business. We could have hired other people to help our clients with lower level work.
Treat everything as a business. Find ways to improve efficiency without sacrificing income potential. Conclusion Making money online is no longer a pipe dream for financial freedom. There is a lot of noise about what is right and what is wrong. Follow what works for you and what’s in your comfort zone. The best way to become financially independent is to take action. There is no other way. Using a reliable online income source such as freelance work can unlock additional income and flexibility to greatly improve your financial future.