Do you know anyone who let’s the smallest little problem go on for weeks?
Rather than just fixing it and moving on, they keep complaining about it every time you see them.
“Yes Aunt Linda, you already told me about your squeaky door. Would you like me to go down to the store and get some WD-40?”
Then they don’t accept help or even advice. It is almost like there needs to be something in their life to complain about. If they quickly fixed the issue, they’d just have to identify some other problem to fixate on.
Money is often the focal point.
When you get right down to it, money is just another problem that needs to be solved.
How Most People Think About Money
Money comes in, money goes out.
Two parts of the equation, yet most don’t think of it that way. Spending gets the majority of the focus.
There is only so much that can be cut. It takes money to live, even if you are able to eliminate thinking like “I work hard so I deserve this new iPhone”.
The other end of the equation has no limit – the money coming in.
The average person believes they earn what they earn and that is that. Maybe they work a retail job and get paid a set hourly wage. Not much can be done right?
If You Think About Money Differently…
If you treat money as just another problem to be solved, you will be able to think outside the box.
You’ll know spending isn’t the only variable that can be tweaked (although it is still important). Income can be changed as well.
Let’s take a look at a profession with an extremely fixed pay scale: teachers.
A teacher knows exactly what they will make not only this year, but 10 years from now. It is set in stone, based on their education and years of experience.
A small side hustle can have a big impact on the money problem. Not able to save even 10% of your income? How much extra work will it take to earn 10% more?
It doesn’t have to be an extra job. It can fit into your schedule.
When driving for Uber or Lyft there is an option to set where you are driving and pick up riders going the same way. You could do one ride on your way to work and one home. Or on the weekend when you are heading to the next town over to meet a friend.
It can be a hobby you enjoy doing. Love ugly Christmas sweaters? Make them year round to sell on Etsy or eBay during the holidays when all the hipsters wish to one-up their hipster friends.
If you like working with wood, make anything out of a wine barrel, rich people love that stuff.
Or it can be running your own small business that utilizes your skills. Tutoring, summer classes or camps, or anything to do with weddings (where prices have absolutely no reasonable boundaries).
Once you start thinking of money as just a problem to be solved, the possibilities are endless.
Gateway to Passive Income
Passive income is the ultimate fantasy. Do something now and money just keeps coming in? Wow!
Don’t start with passive income first, it is a graduate level course. Get rich quick schemes will be a waste of your time.
Once you have some savings piling up, you can put it to work for you.
The default option is in stock market index funds. But there is a disconnect there. Yes, it may go up, but do you make the connection of your money earning more money?
My recommended way to get into passive income is purchasing a rental property. It is tangible and easy to understand.
You pay $20k for the property up front, the tenant gives you $1k a month, and you cover all expenses including hiring a property manager (around $800 a month total). These are actual numbers that are attainable no matter where you live.
No magic. You live in a house or an apartment and understand how renting or a mortgage works already. Housing is something everyone needs.
Once you have experience making your money work for you, you’ll see opportunities all around you. Vending machines, truck rentals, expensive equipment rental.
Before you know it you’ll be ready for the graduate level passive income course. And financially free.
It All Comes Back to Mindset
Think of money as a problem to be solved to unlock more solutions. Get a side hustle to control the income side of the equation.
Think of passive income as putting your money to work for you. Get a rental property to see it in action and prove it is possible.
How have you shifted your mindset about money?