Stop Trading Time for Money4 min read
Stop Trading Time for Money
The pitfalls of trading time for money and how we can change our mindset to start trading our time for results. You know you’re never going to get ahead if you stay on that treadmill of exchanging hours for dollars but how do you get off the treadmill how do you stop trading your time for money especially if that’s all that you’ve ever really known?
Trading Time for Money Sucks
One thing we have to understand is why trading time for money sucks. It’s not hard to understand this argument, trading time for money sucks because time is your most valuable asset that you possibly can ever have! You can always get more money, but you can never ever get more time. Time also doesn’t scale; one because it’s finite and two because it relies on your output which is obviously limited.
Another thing that we must understand is that we’re in control, we make our own decisions, and we make the changes in our life that we want to see enacted. So once you understand that you’re in control you have to also understand that there are different types of money options and most of those money options are designed by the system to trap you in. It’s the game most people are playing and if they’re playing that game unfortunately, they’re going to end up losing.
Most People Have an Income Problem
So, what are the steps to stop trading your time for money? Now that you know the status quo is never going to be able to make those numbers add up, let’s figure out what you can do and how you can start thinking and acting. You want to change your mindset around earning and spending that’s one of the first things that you must do. It’s a mindset change and, in that mindset, change you have to ask yourself: do you think most people have a spending problem or do you think most people have an income problem? Well, most people are going to have an income problem and they need to understand if we are working on targets or goals and objectives, we need to how much our time needs to be worth, not how much it’s actually worth. Besides knowing how much it needs to be worth, we also need to understand that trading our time for money and that traditional earning power is never going to get us there.
We have to earn differently and then accept that foregoing small expenses on the expense side of the budget is not a reliable approach to getting ahead. You need to build an asset that scales; that’s one of the main things that you can do to start getting ahead and the number one way to stop trading time for money is to build an income producing asset. However, entrepreneurs have known this for a long time, but traditional entrepreneurship isn’t without the problems: huge startup costs, huge overhead, big teams, lots of risk and liability, it’s tough to scale etc.
Take Advantage of Online
Thankfully we can pursue entrepreneurship through the internet with very little cost and very limited risk. We’re in the era of the online lifestyle business and you should definitely be taking advantage of. Not only do you have the opportunity to build a scalable income producing asset, you also have a relatively fast path to both location freedom and time freedom. For very little money (as little as sometimes $100) you can start an online business that ends up single-handedly getting you to that freedom number that you’re trying to pursue.
Use business income that you’re producing to make more money. What exactly does that mean? Well, in order to build real wealth, you need to understand how to use your money on more income producing assets. There are four typical options: putting money back into your online business to help it grow and scale, investing in other business opportunities, investing in income producing real estate opportunities, or investing in dividend-paying stocks. As these income producing assets start to pay you that’s when the real wealth begins to grow. Not only is your income going up but the value of the underlying assets you invested in will also be increasing as well.