THE BROKE GUIDE TO MAKING MONEY
It’s easy to make money when you are prosperous. Invest $1M in an index fund and live off the dividend. That’s how most of my wealthy family friends spoiled some of my friends.
When you are broke, you don’t have the advantage of enjoying that type of luxury simply because you have no money or assets to begin with in your bank account.
When you have a big desire for money and accomplishment in life, but you are broke, it burns you inside out; you see some of your friends spend with no hesitation while you can’t push through the month.
I have been in that position while I was abroad; I made some mistakes that made me financially stressed; however, I got myself out of it in less than a couple of years.
Even though I had a family capable of wiring the money quickly, I took full responsibility and overcame that challenge myself.
I believed this would make me grow stronger and get me more respect from my friends and family.
I also helped friends of mine and clients to get out of being broke in three to six months and transform their lives in a couple of years.
I know how to focus and make money even If I lose it all; that’s not bragging; that’s confidence, and today, I will make you confident about money.
The ugly reality of being broke
When you are broke, you have to be highly strategic about how you make money. Almost no one wants to do business with you; you can’t invest in your image or relationship. It’s nearly impossible to start a profitable business, and you are stuck.
Mentally you become in complete desperation; it feels like the world’s end.
Your brain fights for survival, and you look for every small opportunity to make a little money here and petty cash there. Still, those opportunities get you nowhere.
The logical side of your brain shuts down, and you stop reasoning.
You become attracted to shiny objects; you follow fake gurus; you buy scam courses.
You get addicted to misleading tactics, and over time, you give up and procrastinate. Here is where things get worse because you are finished; it’s a game over for you mentally and financially.
Let me tell you; I was there 100%.
Nowadays, when I walk in the street, I see it in people’s eyes and in the way they behave; you can easily pick a broke person from not even if they dress in the best brands in the universe.
If you pause for a second and reason what got you to becoming broke, you can get yourself pretty quickly out of it with the proper guidance.
First, take full responsibility for your current situation.
Cutting all the nonsense about the economy is bad is your first step to getting out of the broke mentality.
I have seen people who made a decent living in the worst economies and places worldwide.
Making money is a mindset and has nothing to do with the economy. If you don’t like your economy, move to another economy.
However, there is no lack of currency or credit in the economy; my friends and I have no problem selling stuff and making money.
There is so much money in the economy that commodities prices had to shoot up to balance currency supply and credit.
You are broke because an event or a mindset has led you to this situation.
It might be gambling, quitting your job, getting fired, procrastinating, lacking up-to-date skills, etc.
If that is the problem, then understand its cause and fix it. It is a problem with your habits or soft and hard skills in most scenarios. You can improve this situation with the proper guidance from mental health and recruitment experts.
Second, take immediate action despite how you feel about that action.
Many people are broke because they have a specific requirement in life or are entitled to a particular position.
They don’t want to be bossed around or do work that doesn’t meet their passion or make them feel good about themselves.
Instead, people want to make easy money. They want to play and speculate in the stock market, cryptocurrency, and real estate market or write a few blogs here and there.
I would call that luxury, and you can’t afford it when you are broke.
When you are broke, you look for a single strength in yourself, and you go directly to the job or offer that earns you the maximum buck for your time.
There are two kinds of income, earned and passive, and most people can’t differentiate.
When you blog on any platform, you might spend four hours a day and make $2 in return.
That’s not a passive income; that’s called earned income because the next day, you still have to get up and put the same effort to make a couple of dollars.
With simple math, you can realize that you had to spend 120 hours for $60 a month; that’s a lot less than working at McDonald’s.
A passive income is when your assets make you money without interfering in that business, such as in my online courses.
These courses make me money with no extra effort from my side anymore.
They took me almost four years of work; they were a side project, and they only made a small portion of my income.
I blog now because I have the luxury of spending time in a beautiful coffee and writing this story without feeling the financial stress and urge to make money.
In a year or two, blogging might make money or not; it’s not a big deal.
If I’m broke, I want to trade my time for the most money I can get; I would erase the concept of taking a loan and investing or passive income from my mind 100% until I can get back on my feet.
I would search for an existing person or a business with a profitable process and system. I wouldn’t work for a startup or a small business with many financial struggles.
First, earn as much as possible.
I had worked for many people I didn’t like, and I arranged deals for many of my father’s friends that I didn’t enjoy, but I had to do what I had to do.
I can take another route. I would develop the courage to pitch my services to high-paying clients and get a good buck for my effort.
Most people believe they have to be extremely good at their skills to pitch their service to businesses. That’s because they lack actual life experience.
Many inexperienced people call themselves professionals and ask for big bucks.
These people desire money and know that most clients don’t care about their backgrounds or how many skills they have as long as they can solve the problem.
Clients need you to solve a pain point immediately. The more significant issue you can solve, the more money these clients pay you; you only have to look and sound legit and professional.
Develop the confidence to pitch yourself and ask for money for value.
Don’t scatter yourself and focus on money.
Starting a business requires a lot of money to become profitable. Blogging and making online courses need a lot of time to make a decent income.
Instead, focus on a single activity that gets you the maximum return in the short term and give it all. Over time, transition it into part-time and focus on building passive income streams.
When I’m broke, I don’t want to waste time waiting for opportunities to come my way. I will knock on doors and grab every opportunity by the neck. It’s a full attack mode.
How do I know if anyone would give me a shot? Should I sit and wait? Should I make content and hope for the best? Heck no. I look for people with existing problems; I make myself available and ask for a shot.
Stop following silly tactics and scam gurus that sell you strategies that work nicely on paper but hardly in the real world.
A few hundred here and a few hundred there won’t get you to the next level; it will keep you at a low level financially.
To level up, think of money as an abstract object. The more you grab it, the more prosperous you become; it doesn’t matter if it’s earned or passive; what matters the most is how much you have in your bank account.
Focus on working for existing people or businesses with efficient systems that are already profitable.
Think of immediate short-term returns. You can only think long-term when you can afford a good living in the short term.
Think of solving problems, not labor. Search for the highest value for your time.
Finally, never lie to yourself about the economy anymore.
Please share this article with someone who needs it if you find it valuable.
I don’t ask you to buy a course, my book, schedule a strategy call or join my webinar.
Kindly help me spread the message.
I would also love to hear about your experience, and how do you deal with financial stress? Thanks for being supportive.