Salary either on a monthly phases or weekly enslaves you. You give out your precious time in exchange for that. It makes you in some cases prevents you from chasing your dream in life.
You cannot be financially independent if your focus is on salary, you must look beyond salary by thinking of creative ways to earn more income, and subsequently set up your business.
Your Expenses Grows as you Age
As you grow, your needs increase. If you are not advancing or climbing the corporate ladder, your income will not record any form of increase.
The same thing applies to when you are not increasing your streams of income. You need to start thinking of ways to make money.
Have you imagined how much do you pay for data? How about your insurance fees, how much do you spend? Perhaps, you’re spending so much; as you advance in every facets of your life your expenses will increase.
To worsen the situation is when you feel so relaxed without seeking alternatives. You could get better offers in everything you spend on.
Sometimes, we spend like that due to the convenience brought forth by e-commerce. It could be tempting to sit down somewhere and order a product and see it delivered in few minutes.
You Need to Save
Saving is an integral part of working towards financial freedom. It can be difficult to save money if you do not earn enough. It is easier said than done, you get all sorts of advices to save money no matter the amount you earn.
Emphatically, it would be difficult to save money if you do not earn more money. You have lots of bills to pay, hence the need to look beyond salary.
There is a certain minimum standard of lifestyle you should live as you advance in age. There is a certain age when you are expected to own a house. The same thing applies to having a family and others. When you are not earning enough, it becomes a difficult task.
Impulse Purchasing
Almost everybody falls into the trap of impulse purchase, but the earlier you start avoiding impulse purchases the better. Many people spend without having clear cut items on what they want. There should be a listed items or things you want to buy without spending any dime. That is why you need to double your earnings.
Conclusion
Think of creative ways to make extra income aside from the current salary you are receiving. Your expenses will grow as you advance in life, but you your income doesn’t grow alongside it, it becomes difficult to pay up your bills, let alone of saving and investing.
