The first day of every month is probably the hardest because that realization hits —
“another month of bills I have to pay…”
What most people do is work at a day job and use their paycheck to pay for all of their bills each and every month.
Stop doing that.
No. I’m not. Now, let’s get to the why. You’re probably thinking… if I can’t use my paycheck… how am I suppose to pay my bills?
Well, grab a drink and let me show you what you should be doing instead.
Why do so many people live paycheck to paycheck?
The reason for this is because most people have very limited assets. An asset is anything that puts money into your pockets such as a paycheck or a side hustle.
Most people don’t focus on building their assets outside of their paycheck. This is a huge mistake. I’m not talking about investing in the stock market or buying property.
What I am talking about is building a passive income by building digital assets for yourself that will earn you additional income independent from your paycheck. Trust me when I tell you that there is nothing “passive” about building a passive income. It’s hard work. It takes discipline and dedication.
Do you know how much a Tik Tok influencer with 50k followers makes? According to Business Insider, a "micro" influencer that has between 10,000 and 100,000 followers on
TikTok will earn roughly $200 per post.
That’s $200 into their pockets outside of their paycheck.
How many bills could that pay for you?
Now, I’m not saying you should go on Tik Tok and build a cult following. Especially given the fact that Tik Tok was getting ready to shut its doors before this happened.
There are so many different ways to widen your financial assets, especially in this day and age. With COVID, more people are home meaning they're more likely to be online.
So how can we leverage this to build assets beyond our paychecks so that we can use it to pay our bills?
The bottom line:
You need to stop using your paychecks to pay off your bills and start using the income you make from assets outside of your paycheck. Let that sink in. You have to let your assets pay for your bills and use your paycheck to build even more assets for yourself.
Oh. I’m very glad you asked.
We put together 10 different ways to build digital assets to grow your wealth.
Sell on Gumroad - If you love to create, consider creating digital products such as books, courses, designs, music, etc. and sell them online to people around the world. Gumroad makes selling your digital products as easy as social sharing.
Create a Newsletter - If you love to write, create a newsletter focused on a specific area. You can have your readers read for free and deliver exclusive newsletters to those that pay to upgrade.
TaskRabbit - If you love to hustle, you can help people accomplish their errands. Some of the tasks on the platform include assembling furniture, assisting with moving, fixing appliances, home deliveries, shopping, and cleaning.
Flip Sneakers - If you love sneakers, start a sneaker arbitrage service to buy and sell sneakers. You can use platforms like GOAT to make this super simple. You don’t even need to ship the products. Buy it on the app, ship it to GOAT’s storage facility instead of your house, and sell it when the time and price is right.
Dropship Products - If you love to shop, start a dropshipping service to buy and sell products on the internet.
Become an Influencer: If you love social media, you can work your way up to becoming a micro-influencer. There are many resources out there that will help you understand how to grow your userbase.
Educate Others - If you love to teach, create a course and sell it on Udemy - a marketplace where consumers go to learn.
Become a Game Streamer - If you love video games, start broadcasting your video game playthroughs online. You don’t even need to add commentary. Play and stream consistently to grow your following.
Form a Corporation - If you’re an entrepreneur, find a problem that exists in the world and build a product or service that helps to solve that problem. You can surround yourself with fellow entrepreneurs on platforms such as Indie Hackers and GradSchool.
Become an Affiliate - If you love marketing, become an Affiliate for a brand. Affiliate programs allow you to make a commission by recommending products or services to others. Want to become a Brand Ambassador for Chromabill?
For more tips, Visit Money Matters.