A few days back I was talking to one of my friend lets say her name is Lavisha, we were talking about our individual life and then she said those golden words I need more money. These golden words sound familiar to me Lavisha is not the only one I’ve heard this many times before from 90% of the people I know and met regularly there are many instances in my life when I said this to myself, I need more money.
Lavisha wasn’t enjoying her life all she wanted was a pay raise in her job thinking she can live a happy life after that, also she can help her mother with that pay raise and that pay raise can solve all her money problems. Will it?
Definitely NOT, the simplest reason is every time you get a pay raise it increases your lifestyle cost. You start to spend more because you are earning more and because you are spending more you want to earn more and again you complain I need more money. And this leads you to job dissatisfaction you wants to quit your job badly but you can’t because it's the main source of your money.
Some people try to switch their company thinking the new company will give them more money and job satisfaction. And that’s exactly what Lavisha was thinking. Some people think I’ll put some effort into my job and I’ll get some more money, but again above story repeat itself.
So what Lavisha should do? Is it bad to desire more money for a happy lifestyle? Absolutely NOT. Then what Lavisha should do? What could be the solution to her situation? There can be many solutions to this situation the easiest would be to bury your desires and learn to live with whatever you are getting. I know, I know it sounds very cruel and I won’t recommend this to anyone.
I’ve gone thru with the same situation in my career I always wanted more and more money even I was getting a handsome amount that most people usually don't get. Now let's talk about how I was able to deal with this situation but before that let me clear that I’m discussing the solution that has worked for me and you can pretty much disagree and argue on this. And also I’m not a billionaire having tons of money, but yeah I have the amount of money that can make me enjoy my life and can take care of my liabilities and I can also enjoy my work life.
So the solution to this situation is Parallel income. Anyone can have or can develop an asset that can generate some cash parallel to your normal job. An asset can be a skill that you possess, it could be a skill that you can develop over the time, it could be art like making quilling, it could be your knowledge, it could be a rental income, it could be a youtube channel, it could be your blogs etc. The best asset can be something that doesn't require your time and your effort it should generate the cash flow in the background and should add to your overall wealth. Some people ignore these assets that they already have or they don't want to develop an asset, and they just focus on their job only and gets dependent on that job for their cash flow. And the money that their job is giving them falls always short. So once you find your asset and it starts generating parallel income for you, you’ll always have some extra money that you can use for your need. A need can be anything it can be an expensive phone, vacation trip or a medical emergency.
In my case, my stock market knowledge is one of my assets. I invest my money into the market and it grows in the background and it keeps adding money to my wealth. I can liquidate my equity to generate some cash flow any time at my will whenever I need it. Now that is one of my assets. And now I’m happier and confidant about my life.
So here the bottom line is to find or build an asset that can work to generate money even if you are not working.
Now, what if you don’t like your current job at all and you badly want to quit it? Again the answer is parallel income. Whenever any of your parallel sources of income surpasses the amount of money that you are getting from your current job you can quit your job at any time on your own will.
Am I on that level when I can quit my job any time at my own will?
Definitely NO.
Am I planning to quit my regular job?
Again the answer is NO. Because I love what I’m currently doing and I always wanted to do what I’m doing as a professional.
I hope this blog will help you if you are in a situation like Lavisha and you’ll work on building your assets. If you have an asset don’t just ignore it invest some effort into it so that it can help you in your cash flow.