This blog is about balance.
You can pick up any personal finance magazine, read any blog, or watch any TV show, and you’ll almost surely be subjected to the same advice:
If you want to get wealthy faster, focus on saving more money and investing it for the long-term.
It’s fine advice, followed successfully by millions of people around the world for centuries.Â By itself, I don’t have a problem with it, except that it is often presented as the only way to become wealthy.
And it’s not.
There are two sides to personal-finance. The first is how much money you save, a perspective more than adequately represented by the personal-finance community. The second is how much money you earn — a perspective that’s largely been neglected.
The result is an approach to wealth that takes much longer than it should. You can dutifully save 10% of your income for the next 30 years, but your net worth is going to climb very slowly, unless you’re also increasing your income.
You Need to Do Both
For instance, who is going to get wealthy faster: a neurosurgeon making $2 million per year and saving 5% of her income or a schoolteacher earning $40,000 per year and saving 10% of his income?
All other things being equal, it’s the neurosurgeon. She’s saving less money, but she’s earning dramatically more.Â It allows her to save $100,000 per year, while the schoolteacher saves $4,000.
Do you see the difference?
Of course, not everyone is going to become neurosurgeons, but they can take steps to increase their income. It’s no replacement for saving money, but it’s certainly an accelerant, helping you become wealthy much faster.
A Blog Dedicated to Helping You Earn More Money
OnMoneymaking is here to give you the other side of the story, providing a daily dose of tips and advice on how to earn more money. You’ll learn how to:
- Convince your boss to give you a substantial raise
- Start your own business
- Sell what you know to others
- Make high profit investments without increased risk
- Live the life of your dreams now, instead of later
It’s not about living a high consumption lifestyle, where you earn more and spend more, never really accumulating any wealth.
It’s also not about making radical changes to your life, where you have to give up time with your family or security to succeed.
And it’s absolutely not about get rich quick schemes, promising that you’ll make millions but charging you thousands of dollars for the advice.
What is it about? Informative posts and occasional reviews of books, magazines, and software that are focused on money making for you. Our ultimate mission, putting money in your pocket, so that you can afford the life you’ve always wanted.
So go ahead… subscribe now.