6 Ways To Earn From Your Passion

You might not realize but you could be missing that opportunity to earn extra money from doing those things you love.

So, let me share with you 6 ways to earn or to make a fortune out of your passion:

1. If it is about collecting things, use your knowledge about it. You might have the idea where to find the best supplies with the cheapest price. Buy. And for sure, you know people who share the same interest. Sell.

2. On collectibles again, if you have the eye for "long term value", start collecting those which you think will become rare and wait until their costs shoot up. Either sell, or wait further til they cost you a fortune.

3. If its about a specific skill or hobby, make a sideline job from it. Be good at it and offer your service for a fair pay.

4. Hone your skills. Be one of the best. Make it your "job" and get paid handsomely for doing what you love.

5. Create a useful and valuable product (i.e. book, blog to monetize, a new toy, gadget, recipe, vlog). Use your passion and knowledge to create an edge and to make your product profitable.

6. Or, just like most people, you may not have the time or opportunity to directly monetize your passion. Then, do it on your leisure time to avoid burn out and to exercise your creative muscles. It will help you to function ar your best and get to do your job well for the rest of the week.

Regrets and Inaction

The 3rd month of the year is coming and your age is increasing. Thank God you're still alive that He gives you another day to make your life better and for you to prepare a good one for those you love. If there's another tomorrow, that would be good. But if none, hope that you have done what you've been planning to do because saying that you want to do something doesn't equate to actually doing it. These are opposite sides of a coin.

Having great intentions is good. But results come only to those who take actions. Having fear is understandable. But using fear as an excuse is cowardice and irresponsibility. Decide, act and move. It might be uncomfortable at first. But getting used to discomfort is part of it and once results fall into your lap, you'll realize that everything is worth it. And the only thing that you'll regret is that you did not start earlier.

How's Your Hand?

Even with the best hand, if you don't understand the rules of the game, you can still lose. Someone might look poised to succeed in life with his educational background, a good job and great health but if his mentality and actions do not maximize these advantages, failure is inevitable. We always seemed surprised to hear people succeeding out of no where. But if we look closely, a lot of those who reach the top are the ones who started out from the bottom yet hustle their way up against the odds.

Remember that the person who is more likely to succeed is not always the one who's dealt with the best hands in life but it is he who strategizes his way up no matter how bad the set of cards are being dealt to him.



#FinancialPlanningforLife

Use Your Today

Today, reasons and excuses are easy, convenient and cheap. But tomorrow, the only currencies accepted are the solutions and preparations that you did earlier.

Start Young and Wise

It is hard to be a breadwinner. And do you know what's harder? It is the situation of the breadwinner's dependents when suddenly, they are left on their own. 

That's why I'm so glad to have persuaded this 24 yr old IT professional, an eldest in his family, to start with his investment early. He might have just began with his career but he understands fully the gravity of being prepared for anything. Currently, he has to support his two younger siblings in their education and his parents are already in their retiring age yet he's able to budget his salary and make room to what is essential for all of them.

And it's not a bad deal to put up with a Php 2500/month investment for 10 yrs and have 1M pesos life insurance, 500K pesos accident and disability coverage, and more or less 1 Million Pesos withdrawable money at age 50 in return. A bonus well spent? No. But rather, it is a bonus well allotted and utilized.

Are You Ready To Leave?

It's that day again when families and friends troop to the cemeteries to remember and pray for our dearly departed. And because of the season, I remember that saying that we can't bring our treasures buried with us 6 feet under when our lives end. That's true. Yet unfortunately, it's not just material riches but the list of things we can't bring beyond our lives here on earth includes our debts, expenses and responsibilities on which some are even transferred to those whom we left behind.

And we call these people as our loved ones. Loving should be in action and not just in words. So rather than leaving them grieving and burdened with finances, why not prepare them at least in the financial sense? Save, invest, get an insurance. It will give you a peace of mind before you even rest in peace. And there are statistics that say those who prepare for it usually are the ones who live longer. I believe this because the mentality of those people who prepare have safer mindsets, health and situations than those happy go lucky people.

Drive Your Way to Investment Success

Running your business is like driving a car. Motivation is the spark plug, your resources are your fuel and your driving skill is your investment knowledge.

I already met enough people who failed in their businesses by committing that mistake of thinking that motivation and resources are enough ammunitions to start and finish a battle. And it was a personal experience as well. 

Your skill will always be critical. Sometimes, motivation acts like a hallucinating drug that makes you think you are invulnerable. And the danger doubles when you have that enough resources at your hand. You may be able to start the machine and be able to move initially with the momentum. But once you get into that bumpy road, without that necessary skill to get past through it, expect a lot of difficulties on your way or worst, a sudden halt with what you are doing.

Invest in enriching your skills and knowledge. Find your expertise. And when the driver is ready, the perfect car comes.

It's Not The Money

Our problems with money does not come from neither the state of richness nor poverty. It is rooted from materialism and greed. You can be greedy and materialistic while being either poor or rich and they are what create discontent and envy. It is with detachment from material things, not with the proverbial "simple life" nor with affluence where you can achieve happiness and contentment. 

Knowledge on Top

In investing and entrepreneurship, it's not enough that you are inspired. Knowledge is more important. I find it amusing that a lot of would be entrepreneurs and investors spend 90% of their time attending inspirational talks and reading motivational books but put in sporadic efforts sharpening their skills on their chosen field. In the long term, what you do becomes a part of your life. Your inspiration might waive off but your knowledge stays with you and it will be your fuel to continue with what you do.

The Best Investment

Do you know when can you say that you have found the best investment? It is when it puts you in a position to help others and gives you a chance to become a better person.

Online Games and Investing Mentality

Your base was empty. Your command unit was a handful. Your fire power was weak. You could barely attack or defend. That's how it was when you were just beginning to play that addicting online game. But look, now you have a stronger base, powerful defensive weapons and a huge army enough to pulverize a huge enemy camp. So what did you do to arrive at this scenario from almost none at the start?

You managed to do with what you had. You bought only what you need. You utilized your few resources wisely trying not to waste anything. You were most of the time defensive and attacked only when the possibility of winning was big. Though of course, you sometimes gambled with calculated risks. Your first income was spent on things that will gain you more assets and money. 

Well, ladies and gentlemen, that's just exactly what you need to do in real life if you want to grow your money. It's just funny that most people treat online golds more delicately than the one they worked hard for in real life. 

What makes online gamers more prudent in handling their money is  their commitment to grow their army and bases. They create their work plan around it. There's that clear ending in mind unlike in real life where most people don't take saving and investing seriously. Most think that all they need to do is to keep more money then that's it. It's a mistake. It may be effective to some but for the majority, it's impossible to save when you don't have a target. To have a clear course of action, you must have a specific and clear goal. 

Sometimes, it makes life easier when you treat things like a game. But don't forget that understanding and love for it are essential to win big. Patience is needed at the beginning. Once you got a hold of it, had installed greater weapons and trained a huge army, then you can start taking larger risks by attacking bigger and richer camps for more mouth-watering loots.

Objective First

You can't get lost driving or walking if you don't have a target destination. But if you do that, don't expect to arrive at a place you desire to go to. And you can't blame your car, your map or the road but you only have yourself to point a finger to.

When you invest, you should always have a goal. Whether it's for your retirement, for buying a house, a phone or a car, whatever it is, there must always be a target. To save money as a goal is also possible, but put a number in there so that you'll know if you're moving towards near it and also to be able to calculate if it's mathematically possible with the way you're doing it at the present. 

Investing is not just an act but a discipline. You just don't do it. With your first peso, you must have an end in mind. Remember that your first steps  are the most important in reaching your destinations. But in case you get lost in the middle, don't be afraid to ask for guidance from those who are more familiar with the directions.

Grab the Guava

Whenever there's a news about our economy doing well, the usual reply you can read in the comments section is "'di naman namin ramdam yan (we don't feel it anyway)". 

That would always be true for someone who doesn't have a job, does not invest nor study about it, does not spend wisely or does not save. I understand that there are limitations brought to us by circumstances like how we feel our government is neglecting us. But for us to feel the effect of a growing economy, we should be the one chasing its effect. 

We can't be Juan Tamad waiting for the guava to fall. Stand up and grab the proverbial guava.

Be Selfless

One of the worst enemies of would be investors is greed. And the best way to combat greediness is by selflessness. By prioritizing what's important in your life, you'll never go wrong with your decisions. You will consider everything before taking any step. You will not make crazy gambles. You will take calculated risks that will most likely ensure the best situations for your loved ones in a future that you may or may not be present at all. So have you asked your self how your loved ones would be if that future is tomorrow?

Bigger Picture

When emotions are catching up on you, always try to view on the bigger picture. Remind yourself of the reasons why you invested into something, why you bought that stock, why you put your money in it. Remember all the factors that made you think that your decision was correct. Check if your your targets are still on view. Consider your time table. If majority of these parameters are still in parallel of what's happening now, then you don't have to worry that much. Breathe. Just keep a watchful eye.

But if you can't articulate any of the considerations above, it might mean that you didn't really put a lot of thinking before acting on your investments.Then you have all the reasons to be that nervous. But it's not too late. You still have time to change track and make better choices in the future. Learning thru experience still gives the best lessons. There's always the time to bounce (pun intended).

Own 2016 With Honesty

You are working full time. You have many responsibilities as a breadwinner. There are bills to pay, a couple of loans, kids' education fees, daily expenses, etc. You have zero to small savings. Your hands are full and you lack time to check out on your investment options. You are always tired and working hard but yet they do not translate to improvement in your finances

That could be your situation in 2015. The good news is it was also the same with several people I know just a few years back who have turned their lives for the better ever since. It's not hopeless. I was also facing the similar case not too long ago but was able to find a way out of it little by little. And while I asked those people about how they climbed out of the hole, I found out that the common thing that helped us to begin moving away from that same situation was "honesty".

Honesty is not just a virtue which improves our relationship with people but also a character that would help us in building up our financial situation. Here's a list on how honesty helps you with your money woes.

1. Be honest with yourself. Is it really that you don't have what it takes to begin or you're just afraid of investing? Is your fear of the unknown worse than the fear of the inevitable which is your child's education expenses, your retirement, sudden loss of job, health deterioration and ageing? 
2. Be honest on which things you really don't need. Then stop wasting your hard earned money on them. Rather set the money aside for more important things like investments.
3. Be honest with your investment knowledge. Even if I'm doing this for years, I still ask the more seasoned guys. Everything is a continued learning experience. Don't be shy if you know nothing nor too proud if you know a bit. Asking and studying will always do wonders. 
4. Be honest with your targets and expectations. This is the only way that a financial advisor could direct you to the investment that would suit you. 
5. Be honest with your situation. Stop fooling your self that you're just fine even if you're not. Stop making excuses for not beginning to save and to invest. Accept the reality that you have to do it now, no matter what.

Just be honest. Begin your investment and make it a habit. No need to start big. Just start. And when you say that you will, be honest.

Happy New Year.

Gratefulness is Wealth

Health is wealth, and so is gratefulness. Motivation and a clear mind are necessary to make money. And one of the gateways towards it is by being thankful. When you appreciate the things you have, the people around you and the environment you are into, your decisions and actions will be better and your vision will be clearer. You'll see opportunities out of challenges and you'll see difficulties as part of your development. You'll become a better person and you'll attract more positive things.

Investing is Boring, Election is Exciting But

People are on a high during elections and campaign seasons. We feel that the power is in us. We push names of those who think would save us from our current situation. Those who are sitting on the pedestal suddenly kneels in front of us just to get our support.

Elections and candidates usually give us hope for a better future. Some of them might be able to live up to their promise. But most of them don't. But really, it doesn't matter what they do or what policies they create if you don't act for your own future. We may be able to elect the best, but the person that will have the largest impact on your growth is yourself. Your vote won't give you money for your child's tuition fee, your medical expenses, for your planned car or house, your travels or your retirement fund, but your investment today will.

You won't get much high in investment though. It's a boring thing to do. You do due diligence, you research, you ask, you put money, and then you wait. Boring indeed. But your future self will thank your boring old self for doing so while you will forget the names of those you voted and campaigned for. But still, vote wisely. You will only get a better output out of an investment or an election if you use logic and reason more than emotions.

Hitting Big and Losing All

Earning money is good. But keep in mind that it's never the end goal. Don't be too desperate and compromise morals just to have more. You might succeed in hitting a big one today then have your life gone the next day. Or you might live long enough to regret doing a grave thing in the past for the sake of money that will ruin the rest of your future.

Being a good steward of things here on earth is a responsibility given to us by God. We are expected to make good use of our skills, strength and talents to take good care of our family, surroundings and our own selves which includes financial matters.

Earning and building wealth to put into good use is always a great thing. But never forget that all material things are temporary. We might be capable to buy all the things we want but we can never afford to lose sight of the more important things in life which are everything beyond material things and money.

Aim for the Value

 

If you want to earn for a living, your goal must not be how to make money. Your focus must be on offering something of value to others. It may be your skill, talent or some product that improves other people's lives. People pay for things that makes their lives better and easier. Look at yourself, then on the others. What problems do you have now and what could be your solution? Think of what you could do or create to make lives trouble-free. Then build it. Make people know about it and you can start from that.