updated by Renzie Baluyut on October 2008.
Here’s how I see it: money is great, but it’s not the be-all and end-all of everything. It’s cool to have enough, even better to have more than enough, but in the end, it’s all about how you use it that counts.
Money is merely a means to an end; it must be used to achieve whatever goals you have in mind. And I don’t quite care how you spend your money, as long as you made it yourself.
That being said, money is always a prime concern to just about any working-class person, bachelors included. This page is totally dedicated to work, business and managing money. By that, I mean working for money, and then eventually making your money work for you.
Getting a Job
Now this is definitely one of the most important things to consider when living on your own. Unless you’re independently wealthy, or have a knack of turning everything your ass touches to gold, then you’ll definitely have to get yourself a job.
Your job pretty much determines the kind of lifestyle you’ll be able to initially support. Of course, you’ll have to start scraping from the bottom of the barrel, but once you build yourself up, get some serious skills and increase your market value, you’ll eventually be able to negotiate for more in terms of perks and packages.
The whole point of getting a job is actually learning a lucrative enough trade- gaining credibility and competence in a chosen field. It’s all about the experience, and the initial set of contacts.
Having a job is all about discipline and structure. It’s showing up for work everyday at a predetermined time, delivering a workload expected of you, collaborating with colleagues and answering to a boss.
Soon afterwards, if you have enough confidence, you’ll probably want to make a rewarding career out of your line of work, or go independent and start your own business.
Remember, a job is just that- only a job. While an important part of your life and who you are, your universe doesn’t have to revolve around it. Never be a slave for the company you work for. Always take time for yourself, and for your personal life.
That being said, always be on the lookout for opportunities to get ahead of others, in terms of being competent at what you do. Improve yourself on important skill sets. Look for chances to you to shine. And don’t be afraid of challenges.
Getting Side Projects
Taking on the occasional sideline is alright, as long as it doesn’t interfere or jeopardize your current job (or any other obligations for that matter) in any way.
Yes, you may want to consider taking on side projects. A number of alternative money-making activities are available to you; activities that don’t necessarily mean quitting your day job (seriously, don’t quit your day job!). Make money out of your hobbies and interests, hook up with friends who also want to make money, and keep finding ways to build yourself up as well as your network.
Side projects are a good thing in that they allow you to explore new things without leaving the comfort of your day job. Not only is it a great way to make extra cash, but it’s also a great way to make productive use of your time.
Heck, if you’re lucky, you might actually make more with your side projects than you do with your day job.
So what happens when your side projects make more than your day job? Totally up to you. If you think you can make it on your own, then by all means, good luck and go for it. If you think you need the added security of a paycheck every couple weeks, then that’s alright too.
It’s really all about options. Explore what you can and cannot do. Keep an eye out for opportunities. In time, you will know what you want to do for the rest of your life- whether it’s sticking it out with your rewarding career, or going completely independent.
Setting Up Shop.
OK. So you got your place goin’ on, you’re doin’ alright with your job, you got yourself a couple of hobbies on the weekend, and even making some extra money on the side with some projects.
At this point, you may start considering getting a little more serious with your cash. Remember Rich Dad, Poor Dad? Robert Kiyosaki hit it dead center: to sum it all up, you gotta find ways to make your money work for you- invest in sound ventures, set up businesses, protect your financial interests. While your day job is a good start, your end goal is to control the means of your own production.
Hopefully with the kind of jobs and projects you’ve managed to get yourself into, you’ve been able to pick up some useful skills- management, accounting, marketing, sales, finance management- all these invaluable for the next phase of your plans to amass a vast amount of money and building an empire.
In fact, we’ll be using this section to cover suggestions and throw some ideas in launching your own business, or at least getting a money-making project off the ground.
But remember this: the entrepreneurial lifestyle is not for everyone. It takes a certain mindset for you to make it well in the world of business. Not all businesses end up successful. Many ventures fail for one reason or another. Your resilience as an entrepreneur plays a big role in your continued success. It’s all about learning from your mistakes, and playing up on your strengths. And that’s really all part of the game.
On the plus side, you get to manage your own time. You are your own boss. You put your smarts, your talents, your experience and your contacts to good use, and you control your own development.
Then you replicate your more successful business models, and create a brand for yourself, and help others become successful too. Then consider investing- whatever you feel confident in- stocks, real estate, other ventures. You are the driving force behind your own success.
The end goal of course, is to be able to retire early and get to do the things you really want to do.
Come back in from time to time to check out what we have for you.
Useful Money-making Links and Resources.
- Check out Shai Coggins of B5Media on Just Make Money Online. Lots of great stuff for aspiring online entrepreneurs.
- If you’re new to Internet Marketing, and would like to know how this works alongside online entrepreneurship, check out Griz’s site: How To Make Money Online For Beginners.
More useful links and resources coming up as we find ’em online.