We’ve all read those articles about making money online and finding online jobs. These opportunities can be a fantastic way to bring in some extra cash, which can help you pay off debt faster or invest more quickly than you might otherwise.
What’s great about these money-making opportunities is that they let you work on your own schedule and from anywhere you want. That kind of flexibility is pretty appealing if you ask me.
But with so many options out there, it can be tough to sort through them all and find the ones that are right for you. So, what’s the best way to approach this? Should you trade your time for money through freelancing? Or maybe consider delivering groceries for cash?
Let’s talk about my approach:
My journey to financial independence was straightforward. When I graduated from college, I had over $60,000 in student loan debt, which put me in a pretty deep financial hole. My only asset was an old minivan. However, I did well in college, which helped me land a decent job after graduation.
Still, I quickly realized that my full-time job alone wouldn’t be enough. I didn’t want to be paying off student loans until I was 35. While signing up for apps to get free money might help a bit, it wouldn’t make a big enough difference quickly enough.
So, I dived into the world of making money online. I learned a lot from various sources and different ways to earn money on the internet.
Fast forward to today: I used income from both my online ventures and my day job to pay off all my student loans. Now, I’m venturing into real estate investing.
Here’s how I navigated the world of online income and where I’m headed:
Step 1: Monetize Your Skills for Easy Income
I started with freelancing to earn extra money. With my background in finance, I had some great financial modeling skills that I could monetize right away. If you have a skill, whether it’s graphic design, video editing, proofreading, consulting, translating, or just about anything else, you can turn that into income with freelancing. The key is to leverage what you’re good at and what you enjoy doing.
Step 2: Time is Money
As I made more money through freelancing, I was able to pay down my debt quickly. But I realized something: freelancing was still trading time for money, much like a traditional job. While it was lucrative, it wasn’t scalable without sacrificing more time. That’s when I decided to try blogging. It was appealing because it had unlimited income potential, could be done on my schedule and from anywhere, and allowed me to write about anything from hobbies to professional advice. Blogging is a lot of work and has a steep learning curve, but if you stick with it, it can pay off significantly. I eventually grew my blog to generate as much income as my full-time job.
Step 3: Scale & Pair – Stay Entrepreneurial
It’s effective to combine freelancing and blogging since they can complement each other. For example, your blog can attract clients for your freelancing services, and your freelancing work can drive traffic to your blog. It’s essential to always view these activities as a business. Look for ways to improve efficiency without compromising your income potential. For instance, you might hire others to help with tasks as your freelance business grows.
Conclusion
Making money online isn’t just a dream; it’s a viable way to achieve financial freedom. Though there’s a lot of advice out there, the best way forward is to find what works for you and take action. Online income sources like freelancing can provide the extra income and flexibility needed to greatly improve your financial future.
